SHENHUA HOLDINGS(SH:600653) Shang Hai Zheng Quan Bao·2025-11-24 18:21Core Viewpoint - Liaoning Shenhwa Holdings Co., Ltd. is undergoing an internal equity adjustment involving its indirect controlling shareholder, Shenyang Automotive Group Co., Ltd., which will not trigger a mandatory takeover bid and will maintain the current control structure of the company [2][3][6]. Group 1: Equity Adjustment Details - Shenyang Automotive Group plans to transfer 100% equity of Liaoning Huasheng Automotive Parts Co., Ltd. (corresponding to 15.26% equity in Shenhwa Holdings) to itself without compensation [2][3]. - The group also intends to transfer 100% equity of Liaoning Zhengguo Investment Development Co., Ltd. (corresponding to 10.14% equity in Shenhwa Holdings) to Shenyang Xinzhi Enterprise Management Co., Ltd. without compensation [2][3]. - Additionally, 1.11% equity directly held in Shenhwa Holdings will be transferred to Shenyang Xinzhi without compensation [2][3]. Group 2: Post-Adjustment Shareholding Structure - After the adjustments, Shenyang Automotive Group will indirectly hold a total of 26.51% equity in Shenhwa Holdings through Huasheng Parts, Zhengguo, and Xinzhi, with the Shenyang Municipal Government State-owned Assets Supervision and Administration Commission remaining the actual controller [2][3][6]. - The adjustments are classified as internal state-owned equity transfers and do not violate relevant laws and regulations [6][26]. Group 3: Future Plans and Compliance - As of the announcement date, some approval procedures for the equity adjustments are still pending, and the company will fulfill its information disclosure obligations based on the progress [2][6]. - There are currently no plans for Shenyang Xinzhi to increase or decrease its holdings in Shenhwa Holdings within the next 12 months, although future business developments may necessitate changes [15][26].