Core Viewpoint - The control struggle between China High-Speed Transmission Equipment Group Co., Ltd. and its major shareholder, Fengsheng Holdings Ltd., has seen new developments, particularly with the resignation of several board members and the appointment of new directors, which is viewed as a step towards stabilizing corporate governance [1][2][3]. Group 1 - The resignation of eight directors, including Hu Jichun, marks a significant shift in the company's governance structure, effective January 16, 2026 [1]. - The ongoing control dispute originated from a 6.64 billion yuan controversy regarding unpaid receivables and prepayments from three subsidiaries, leading to an independent investigation that implicated Fengsheng Holdings [1][2]. - In March 2025, Fengsheng Holdings proposed a special shareholders' meeting to remove Hu Jichun and his father from their positions, citing unauthorized changes to the company’s core asset governance, which China High-Speed Transmission refuted as misleading [2]. Group 2 - The establishment of a new board is expected to eliminate uncertainties in corporate governance and protect the independence and integrity of the listed company and its core assets [3]. - The board adjustments are anticipated to lay a solid foundation for the strategic coherence and daily operations of China High-Speed Transmission, while also supporting the core interests of Fengsheng Holdings, which may help boost market confidence [3].
中国高速传动迎新董事会 丰盛控股推荐董事入局