TIP Group(SH:605255) Sou Hu Cai Jing·2026-01-19 03:41Core Viewpoint - The management team of Tianpu Co., Ltd. will be entirely composed of individuals from the shareholder entity Zhonghao Xinying, raising concerns about the independence of the company and its IPO plans [4][9]. Group 1: Management Changes - The new chairman of Tianpu Co., Ltd., Yang Gongyifan, is the actual controller and chairman of Zhonghao Xinying, with other executives also coming from Zhonghao Xinying [4]. - The financial director, Chen Jie Wen, has a background that includes roles as CFO at various companies, which has drawn particular attention [4]. Group 2: Regulatory Inquiry - The Shanghai Stock Exchange issued an inquiry letter regarding the reasonableness of the board's personnel arrangements and the potential impact on Zhonghao Xinying's independent IPO plans [9][12]. - The inquiry highlighted that Zhonghao Xinying had previously announced its intention to pursue an independent IPO, separate from Tianpu Co., Ltd., and questioned the implications of its key management personnel now holding positions at Tianpu [9][12]. Group 3: Responses to Inquiry - Tianpu Co., Ltd. responded to the inquiry, asserting that the management changes were legal and reasonable, and that the departure of Chen Jie Wen would not significantly impact Zhonghao Xinying's operations or IPO preparations [11][16]. - The company confirmed that both Chen Jie Wen and another executive, Kang Xiao, had left Zhonghao Xinying and had no other concurrent positions that would affect the independence of Tianpu Co., Ltd. [15][16].