NBSS(SH:600884) Jin Rong Jie·2026-02-08 11:40Core Viewpoint - Anhui State-owned Assets has taken over Shanshan Co., which has been in bankruptcy reorganization, marking a significant change in the company's control structure [1][11]. Group 1: Investment Agreement - Shanshan Co. announced that its controlling shareholder, Shanshan Group, signed a reorganization investment agreement with Anhui Wanwei Group and Ningbo Financial Asset Management Co., Ltd. [1] - If the reorganization is successful, the controlling shareholder will change to Wanwei Group, and the actual controller will be the Anhui Provincial State-owned Assets Supervision and Administration Commission [1][3]. Group 2: Market Reaction - Following the announcement, Shanshan Co.'s stock price surged, closing at 14.37 yuan per share, a 10% increase, with a trading volume of 25.28 billion yuan [4][5]. Group 3: Background of Reorganization - The reorganization process for Shanshan Co. has faced challenges, with the Ningbo Intermediate People's Court accepting the bankruptcy reorganization case in February 2025 [6]. - The company specializes in lithium battery anode materials and polarizer business, being a leader in both sectors [6]. Group 4: Previous Investment Attempts - Prior to this, a consortium led by Yangtze River Financial Holdings was selected as the reorganization investor but faced legal challenges that led to the failure of the initial reorganization plan [7]. - The second round of recruitment for potential investors began in November 2025, with increased conditions for participation [9].