Maxscend Microelectronics Company Limited(SZ:300782) Xin Lang Cai Jing·2026-02-11 23:29Core Viewpoint - The recent high-profile divorce case involving Xu Zhihan, a major shareholder of the domestic RF leader ZTE Microelectronics, has resulted in a significant transfer of shares valued at approximately 1.29 billion yuan to his ex-wife Zhang Yu, impacting the company's ownership structure and governance [1][10]. Shareholder Changes - Xu Zhihan transferred 17.15 million shares (3.21% of total shares) to Zhang Yu as part of their divorce settlement, with Zhang permitted to sell no more than 10% of her shares annually [1][2]. - Following the transfer, Xu Zhihan's direct shareholding decreased from 34.3 million shares (6.41%) to 17.15 million shares (3.21%) [5][11]. - Zhang Yu now holds 17.15 million shares (3.21%) and has delegated all voting rights and other non-financial rights to Xu Zhihan [1][5]. Company Overview - ZTE Microelectronics specializes in RF front-end discrete devices and modules, primarily used in smartphones and other mobile smart terminal products, as well as in various wireless connection applications [12]. - The company is currently facing challenges, with a projected net loss of 255 million to 295 million yuan for the fiscal year 2025, compared to a profit of 402 million yuan in the previous year [6][12]. - Revenue is expected to decline by approximately 16% to 18%, with estimates between 3.7 billion to 3.75 billion yuan, attributed to increased investments during the transition to a Fab-Lite model and other market pressures [6][12]. Historical Context - The company has experienced similar ownership changes in the past, as evidenced by the divorce of another major shareholder, Tang Zhuang, who transferred a significant portion of his shares to his ex-wife, resulting in a value of nearly 3.4 billion yuan [4][13].