TIANSHENG(SZ:300169) Xin Lang Cai Jing·2026-01-19 13:16Group 1 - The company Changzhou Tiansheng New Materials Group Co., Ltd. (Tiansheng New Materials) has announced a plan to change its control through a combination of private placement and share transfer, with Wei Lidong becoming the actual controller after the transaction [1][2][9] - Tiansheng New Materials has reported continuous losses for six years, with a total loss exceeding 1.1 billion yuan, and its revenue has declined from 905 million yuan in 2018 to 531 million yuan in 2024 [9][22] - The company's debt-to-asset ratio has been rising, reaching 104.52% by the end of the third quarter of 2025, indicating significant financial distress [9][22] Group 2 - The share transfer agreement involves two natural person shareholders transferring a total of 20.49 million shares to Beijing Rongsun Xintai Technology Development Partnership at a price of 6.39 yuan per share, totaling 131 million yuan [2][15] - Beijing Rongsun Zhizhi Technology Development Partnership plans to subscribe for 50 million shares at a price of 5.06 yuan per share, raising up to 253 million yuan to improve cash flow and repay loans [2][15] - Wei Lidong, the new actual controller, has a background in asset management and investment, having graduated from Tsinghua University and previously worked at major financial institutions [2][3][16] Group 3 - The board of directors has shown dissent regarding the capital operation plan, with the former largest shareholder, Qingdao Ronghai Guotou, opposing the proposal due to concerns over insufficient disclosure and rapid decision-making [7][9][23] - Tiansheng New Materials aims to enhance its operational management and competitiveness through this change in control, which is expected to support the company's long-term development [6][19] - The company has faced challenges in maintaining a stable controlling shareholder, with its largest shareholder's stake declining due to judicial auctions and other factors [11][26]