清华“私募大佬”拟入主这家上市公司，青岛国资股东连投25张反对票“硬刚”！

Core Viewpoint - The recent capital operation at Tian Sheng New Materials has led to a division within the board, highlighted by the opposition from the largest shareholder, Qingdao Ronghai Guotou Asset Management Co., Ltd., which raised concerns about the proposed financing plan [1][11]. Group 1: Shareholder Changes - On January 14, 2026, Tian Sheng New Materials signed a share transfer agreement with Beijing Rongsheng Xintai Technology Development Partnership, transferring 20.49 million shares at a price of 6.39 yuan per share, resulting in Rongsheng Xintai holding 6.29% of the company [2]. - The company plans to issue 50 million shares at 5.06 yuan per share to Beijing Rongsheng Zhi Rui Technology Development Partnership, raising up to 253 million yuan for repaying bank loans or supplementing working capital, which will give Rongsheng Zhi Rui a 13.3% stake [2]. - Following these transactions, Rongsheng Zhi Rui became the controlling shareholder, with its actual controller, Wei Lidong, taking control of the company [3]. Group 2: Management Background - Wei Lidong, born in 1975 and a Tsinghua University graduate, has extensive experience in asset management and private equity, having worked at Agricultural Bank, CITIC Financial Asset Management, and New Tianyu Capital [3]. - The new management sees potential in the company's core business and future development, with no immediate plans to change the main business operations [6]. Group 3: Financial Performance - Tian Sheng New Materials has reported continuous losses for six consecutive years, totaling over 1.1 billion yuan, with revenue declining from 905 million yuan in 2018 to 531 million yuan in 2024 [15]. - The company's total assets increased from 32.09 billion yuan in 2022 to 42.34 billion yuan in 2024, while total liabilities rose from 22.17 billion yuan to 32.90 billion yuan in the same period [13][14]. - The asset-liability ratio has been on the rise, reaching 104.52% by the end of the third quarter of 2025 [15].