Zhongzhuang Construction(SZ:002822) Xin Lang Cai Jing·2026-01-05 11:45Core Viewpoint - The announcement on January 4, 2026, indicates a significant change in the controlling shareholder and actual controller of *ST Zhongzhuang due to the execution of the "Reorganization Plan" [1][3]. Group 1: Shareholder Changes - Shanghai Hengcen has acquired 312 million shares, becoming the largest shareholder with a 16.00% stake in the company [1][3][6]. - The controlling shareholder has changed from Zhuang Xiaohong to Shanghai Hengcen, while the actual controller has shifted from Zhuang Xiaohong and Zhuang Zhannuo to Long Jisheng [1][3][6]. Group 2: Company Financials - Zhongzhuang Construction, listed on the Shenzhen Stock Exchange, was established in 1994 with a registered capital of 720 million yuan [1][3]. - The company reported a net loss of 702 million yuan in 2023, and as of the first quarter of 2024, it had total liabilities of 4.753 billion yuan, including short-term debts of 1.243 billion yuan, while cash and cash equivalents were only 351 million yuan, resulting in a cash-to-short-debt ratio of 0.28, indicating severe insolvency issues [1][3]. Group 3: Reorganization Process - In May 2024, Zhongzhuang Construction faced a debt crisis, leading creditors to apply for reorganization, and in August 2024, the Shenzhen Intermediate People's Court initiated pre-reorganization procedures [1][3]. - In March 2025, Zhongzhuang Construction signed a "Reorganization Investment Agreement" with Shanghai Hengcen and Shanghai Kangheng Environmental Co., Ltd., with both companies' legal representatives and actual controllers being Long Jisheng [4][1].