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Core Viewpoint - The control of Huina Technology Co., Ltd. is set to change as Jiang Zexing will acquire 34.60% of the shares through a combination of share transfer and private placement, becoming the new controlling shareholder and actual controller of the company [1][2]. Share Transfer and Capital Increase - Jiang Zexing will acquire shares from Zhang Hongjun, who will transfer 12,011,412 shares (10.00%) and 6,005,720 shares (5.00%) to two partnerships, Shanghai Jinshi No.1 and Shanghai Baojinshi No.1, respectively, at a total price of approximately RMB 450 million, equating to RMB 24.98 per share [1]. - Following the share transfer, the shareholding structure will change, with Jiang Zexing expected to hold 36,000,000 shares (23.06%) after the private placement, while Zhang Hongjun's shareholding will decrease to 3.85% [2]. Financial Performance - Huina Technology has reported continuous losses over the past three years, with revenues of RMB 363.35 million in 2024, a decrease of 3.43% year-on-year. The net profit attributable to shareholders has been negative for three consecutive years, with figures of -RMB 42.82 million, -RMB 38.85 million, and -RMB 34.97 million from 2022 to 2024 [3][4]. - In Q1 2025, the company achieved revenue of RMB 52.36 million, a year-on-year increase of 4.19%, but still reported a net loss of RMB -2.64 million [5]. Shareholding Changes - Zhang Hongjun, the founder and former controlling shareholder, has reduced his stake from 22.51% to 20.00% through multiple rounds of share reductions, including a significant reduction due to personal financial needs [6][8]. - As of the latest report, Zhang Hongjun holds 24,022,842 shares, representing 20.00% of the total shares, and has pledged 6.5 million shares [7]. New Controlling Shareholder's Background - Jiang Zexing, born in 1985, is the chairman of Shenzhen Jinshi 3D Printing Technology Co., Ltd., which specializes in comprehensive solutions for additive manufacturing. He directly holds 29.72% and indirectly holds 5.23% of the shares in Jinshi 3D [10][13]. - Jinshi 3D is recognized as a leading provider of additive manufacturing solutions in China, with a wide range of applications across various industries, including aerospace, automotive, and healthcare [15][16].