NBSS(SH:600884) Sou Hu Cai Jing·2026-02-09 06:04Core Viewpoint - On February 6, 2023, the controlling shareholder of Singshan Co., Ltd., Singshan Group, and its wholly-owned subsidiary, Pengze Trading, signed a restructuring investment agreement with Anhui Wanhua Group and Ningbo Jinzi, which may lead to a change in control of Singshan Co., Ltd. if the restructuring is successful [1]. Group 1: Restructuring Agreement - The restructuring investment will be used for direct stock acquisition and bankruptcy service trust investments, with a total investment cap of approximately 7.156 billion yuan [5]. - Anhui Wanhua Group will acquire 13.50% of Singshan Co., Ltd. shares at approximately 16.42 yuan per share, totaling about 4.987 billion yuan [5]. - The remaining 8.38% of shares will be retained by the debtor, with an agreement to act in concert with Anhui Wanhua Group during the lock-up period [5]. Group 2: Shareholding Structure - As of the announcement date, Singshan Group holds 12.76% of Singshan Co., Ltd. shares, while Pengze Trading holds 9.13% [6]. - Anhui Wanhua Group is a wholly state-owned enterprise controlled by the Anhui Provincial Government, while Ningbo Jinzi is a state-controlled enterprise [3][4]. Group 3: Financial Arrangements - Anhui Wanhua Group is required to pay 20% of the total investment cap, amounting to 1.431 billion yuan, within seven working days after signing the agreement [5]. - The immediate investment stock price is set at 11.50 yuan per share, with specific conditions for stock disposal and priority share acquisition [5].