SSI(SZ:002742) Zheng Quan Shi Bao Wang·2025-12-12 14:38Core Viewpoint - *ST San Sheng has undergone a significant change in control with Hebei Jiheng Group becoming the largest shareholder, marking a new phase for the company following its bankruptcy restructuring [1][2]. Group 1: Shareholder Changes - Hebei Jiheng Group acquired 120 million shares of *ST San Sheng, representing 17.54% of the total share capital post-restructuring, for a total consideration of 184 million yuan at a price of 1.53 yuan per share [1]. - The change in control is a critical execution point following the approval of *ST San Sheng's bankruptcy restructuring plan, which received 254 million yuan from all restructuring investors [1][2]. Group 2: Financial Support and Governance - Jiheng Group has committed to providing at least 200 million yuan in cash flow support over the next three years to help restore the company's operational capabilities [1]. - The governance structure of *ST San Sheng will be optimized, moving towards a more standardized and sustainable development phase [2]. Group 3: New Board of Directors - The new board candidates include non-independent directors nominated by Jiheng Group and independent directors nominated by a shareholder, with a total of seven candidates proposed [3][4]. - A temporary shareholders' meeting is scheduled for December 29 to vote on the proposed board members [4]. Group 4: Company Background - Hebei Jiheng Group, established in 1998, operates in pharmaceuticals, chemicals, and fertilizers, with total assets of 4.472 billion yuan and net assets of 2.989 billion yuan as of June 30, 2025 [2]. - The group reported a revenue of 3.52 billion yuan and a net profit of 266 million yuan for the full year of 2024, demonstrating strong operational and profitability capabilities [2].