Core Viewpoint - Guizhou Sanli Pharmaceutical Co., Ltd. has signed a concerted action agreement between its controlling shareholder Zhang Hai and Hainan Yuexin Pharmaceutical Investment Partnership, which collectively holds 48.68% of the company's shares, enhancing their influence over corporate decisions [2][11]. Group 1: Shareholder Information - After the signing of the concerted action agreement, the controlling shareholder and its concerted action parties hold a total of 199,056,487 shares, accounting for 48.68% of the total share capital [3][11]. - The agreement does not involve any changes in the individual shareholdings of the shareholders, but rather increases the combined shareholding percentage due to the signing of the agreement [2][11]. Group 2: Agreement Details - The parties involved in the agreement are Zhang Hai, the largest shareholder and actual controller of Guizhou Sanli, and Hainan Yuexin Pharmaceutical Investment Partnership, which holds 20,190,100 shares, representing 4.9373% of the total share capital [4]. - The agreement stipulates that both parties will communicate and reach consensus on proposals before submitting them to the board or shareholders' meeting [5][6]. Group 3: Duration and Commitments - The concerted action agreement is effective for 12 months from the date of signing, with the possibility of extension upon mutual agreement [7]. - Both parties commit to maintaining their rights and obligations under the agreement, regardless of any changes in their shareholding proportions during the agreement period [8][9].

Group 1 - The actual controllers of Zhongyuan Co., Ltd. signed a voting rights entrustment agreement, transferring voting rights of 100.5 million shares to Zhu Shuangquan and Zhu Shunquan, resulting in a voting rights proportion of 20.71% for them [1] - Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian signed a concerted action agreement, leading to a combined voting rights proportion of 25.63%, thus changing the actual controllers of the company to Zhu Shuangquan, Zhu Shunquan, and Zhu Mengqian [1] Group 2 - The company approved a proposal for a private placement of A-shares, with a maximum issuance of 61.35 million shares, not exceeding 30% of the total share capital before the issuance, and raising up to 500 million RMB [2] - The issuance targets are Zhu Shuangquan and Zhu Shunquan [2] Group 3 - The company's stock will resume trading on November 3, 2025 [3]

Core Viewpoint - Zhejiang Shuanghuan Transmission Machinery Co., Ltd. has renewed the "Joint Action Agreement" among its major shareholders to maintain control stability and ensure future development confidence [1][2]. Group 1: Agreement Renewal Details - The "Joint Action Agreement" was initially signed on September 15, 2022, and was set to expire after three years [1]. - The renewed agreement will take effect on September 9, 2025, and will also be valid for three years [2]. Group 2: Shareholder Control and Voting Rights - The agreement stipulates that all parties will jointly exercise the right to convene shareholder meetings and propose the same resolutions, ensuring unanimous voting on all proposals [4]. - The shareholders will also nominate the same candidates for directors, independent directors, and supervisors, maintaining a unified voting stance [4]. - In case of disagreements among the parties, the opinion of Wu Changhong will be considered the final consensus for decision-making [4]. Group 3: Shareholding Structure - As of the announcement date, the shareholding structure among the four major shareholders is outlined, although specific numerical details are not provided in the text [3]. Group 4: Related Party Relationships - The shareholders involved have legal familial relationships, which may influence their collective decision-making and adherence to regulations regarding joint actions [5]. - The company must comply with relevant laws and regulations concerning joint actions, particularly in acquisition and shareholding changes [6].

Core Viewpoint - The announcement details the expiration and termination of the original concerted action agreement among the actual controllers of Shanghai Conglin Environmental Technology Co., Ltd. and the signing of a new agreement, resulting in a change in the company's actual control without affecting the shareholding structure [2][10]. Group 1: Termination of Original Agreement - The original concerted action agreement, signed on December 1, 2018, was set to expire three years after the company's initial public offering [3]. - The agreement was adhered to without any disputes among the parties involved, and all parties maintained consistent actions regarding company operations and strategic direction [3]. Group 2: New Concerted Action Agreement - A new concerted action agreement was signed by Song Le Ping and Zhu Long De on August 21, 2025, effective from August 25, 2025, for a duration of three years [4][9]. - The new agreement stipulates that both parties will act in concert on significant company matters and maintain consistent voting rights [4][6]. Group 3: Changes in Control - Following the signing of the new agreement, the actual controllers of the company will now be Song Le Ping and Zhu Long De, with the previous controller, Xing Jian Nan, no longer included [10]. - The combined shareholding of Song Le Ping and Zhu Long De will be approximately 30.48%, which meets the criteria for control as per relevant regulations [12]. Group 4: Impact on Company Operations - The change in the concerted action agreement is not expected to adversely affect the company's operations, governance, or management stability [22]. - Xing Jian Nan has expressed no intention to seek control of the company or engage in any other concerted actions [13]. Group 5: Shareholding and Lock-up Commitments - The original concerted action parties have no current plans to reduce their shareholdings, and the termination of the agreement is not intended to facilitate any share reductions [14]. - The lock-up period for shares held by the actual controllers has been extended to February 24, 2026, ensuring compliance with previous commitments [14][16].

Core Viewpoint - The announcement details the expiration and termination of the original concerted action agreement among the actual controllers of Shanghai Conglin Environmental Technology Co., Ltd., and the signing of a new agreement between two of the controllers, which results in a change in the actual control of the company without affecting the overall shareholding structure [2][4][12]. Group 1: Changes in Control and Agreements - The original concerted action agreement among the actual controllers, Song Le Ping, Zhu Long De, and Xing Jian Nan, has expired, with Xing Jian Nan choosing not to renew it, while Song Le Ping and Zhu Long De have signed a new agreement [2][3]. - The new concerted action agreement, effective from August 25, 2025, has a duration of three years and stipulates that Song Le Ping and Zhu Long De will act in concert on major company decisions [3][4]. - Following the signing of the new agreement, the actual controllers of the company will be Song Le Ping and Zhu Long De, with no change in the total shareholding percentages held by the three parties [2][4]. Group 2: Shareholding Structure - Before the change, Song Le Ping indirectly controlled 13.26% of the shares, Zhu Long De controlled 17.22%, and Xing Jian Nan controlled 15.30%, totaling approximately 45.78% of the voting rights [5][6]. - After the change, Song Le Ping and Zhu Long De will control approximately 30.48% of the voting rights, as Xing Jian Nan's shares will no longer be included in the concerted action calculation [5][7]. Group 3: Impact on Company Operations - The termination of the concerted action agreement by Xing Jian Nan is not expected to adversely affect the company's operations, governance, or management stability, as the remaining controllers maintain sufficient control [7][8]. - There are currently no plans or intentions for the original concerted action parties to reduce their shareholdings, and they will continue to adhere to previous commitments regarding shareholding restrictions [8][9]. - The stability of control is deemed beneficial for maintaining the continuity of the company's strategic and operational policies [11][12].

Core Viewpoint - The article discusses the expiration and renewal of the concerted action agreement among the actual controllers of Shanghai Conglin Environmental Technology Co., Ltd. (Conglin Technology), highlighting the changes in control and governance structure following the renewal of the agreement [1][6]. Group 1: Original Agreement and Its Expiration - The original concerted action agreement was signed on November 26, 2020, and was valid for three years, requiring unanimous decision-making among the three parties involved [1]. - The parties involved, Song Le Ping, Zhu Long De, and Xing Jian Nan, adhered to the original agreement without any disputes during its term [2]. Group 2: Renewal of the Agreement - A new concerted action agreement was signed by Song Le Ping and Zhu Long De on August 21, 2025, effective from August 25, 2025, for a duration of 36 months [2][3]. - The new agreement stipulates that both parties will exercise their shareholder rights consistently on major operational matters and maintain alignment in board and shareholder meetings [3]. Group 3: Changes in Control - Following the signing of the new agreement, the actual controllers of the company changed from three individuals to two, with Xing Jian Nan opting not to renew the agreement [4]. - Before the change, the three parties collectively controlled approximately 45.78% of the company's shares and voting rights [5]. - After the renewal, Song Le Ping and Zhu Long De together control about 30.48% of the company's shares [5]. Group 4: Impact of the New Agreement - The renewal of the concerted action agreement is expected to promote the company's stable development and improve decision-making efficiency [2][4]. - The company will disclose further details regarding the impact of the renewed agreement in a subsequent announcement [4]. Group 5: Verification by the Sponsor Institution - The sponsor institution, CITIC Securities, confirmed that the actions taken by the parties comply with relevant laws and regulations, and expressed no objections to the changes in the concerted action agreement [6][7].

Core Points - The actual controller of Xidi Microelectronics Group Co., Ltd. has changed due to the passing of Dai Zuyu, with Tao Hai inheriting her shares [1] - A new joint action agreement was signed between Tao Hai and Tang Ya to stabilize the company's control and maintain strategic continuity [1] - As of June 30, 2025, the total share capital increased from 409,750,733 shares to 410,319,336 shares, with the actual controllers holding 39.32% of the shares [1]

Group 1 - The actual controller of the company, TAOHAI (陶海), inherited all shares held by the late Dai Zuyu, who passed away in May 2025 [1] - TAOHAI and another actual controller, Tang Ya, signed a "Joint Action Agreement" to ensure consistent management and decision-making within the company [1] - The re-signing of the "Joint Action Agreement" is expected to maintain the stability of the company's actual control and ensure continuity in development strategies and management policies [1]

Core Viewpoint - Anhui Shuguang Chemical Group Co., Ltd. is undergoing its first round of IPO review on the Shanghai Stock Exchange, with a focus on the rationale behind its actual controller having 67 concerted actors, which may be the highest number in A-share IPO history [2][5]. Summary by Sections Actual Controller and Concerted Actions - The actual controller, Yu Yongfa, directly holds 19.56% of the shares and, through agreements with 67 other shareholders, controls 79.16% of the voting rights [5][26]. - The Shanghai Stock Exchange's review center has requested explanations regarding the reasonableness of Yu Yongfa's agreements with the 67 individuals, the recognition of his control by other shareholders, and measures to stabilize control [5][7]. Shareholding Changes and Historical Context - The company provided a detailed account of Yu Yongfa's shareholding changes, including decision-making processes and pricing fairness for acquiring shares over the years [7][8]. - Since the 2004 diversification reform, the company has maintained control through entrusted shareholding arrangements to ensure governance stability [20][21]. Agreements and Legal Framework - The agreements signed between Yu Yongfa and the 67 concerted actors are based on historical practices of using such agreements to regulate company control [30]. - The company has consistently utilized trust contracts to manage shareholding and voting rights, ensuring that Yu Yongfa retains effective control [20][21]. Recent Developments - In 2023, the company repurchased shares from 471 anonymous shareholders, reducing Yu Yongfa's voting rights from 57.35% to 46.95% [25]. - Following the completion of the repurchase, the company transitioned to a joint-stock company structure, with Yu Yongfa holding approximately 19.56% of the total shares [25][26].

Core Viewpoint - Anhui Shuguang Chemical Group Co., Ltd. (Shuguang Group) is undergoing a review process for its listing on the Shanghai Stock Exchange, with a focus on the actual control of the company by its major shareholder, Yu Yongfa, and the agreements made with other shareholders to maintain control stability [1][2]. Shareholding Structure - Yu Yongfa directly holds 19.56% of the company's shares and, through an agreement with 67 other shareholders, controls 79.16% of the voting rights [1]. - The company has a history of using entrusted shareholding agreements to concentrate voting rights among major shareholders since its reform in 2004 [2]. Control Agreements - In late 2023, Yu Yongfa signed a "Joint Action Agreement" with 67 shareholders, allowing him to control an additional 35.76 million shares, which represents approximately 59.6% of the total shares [3]. - The agreements were notarized by the Anqing City Notary Office, ensuring the legal backing of the control structure [3]. Financial Performance - Shuguang Group operates in cyanide chemicals, modern coal chemicals, fine chemicals, and new chemical materials, with three main business segments: cyanides, butanol, and coal-to-hydrogen [4]. - The company's revenue from 2021 to the first half of 2024 shows a decline from 37.8 billion yuan in 2021 to 15.03 billion yuan in the first half of 2024, with net profits also fluctuating during this period [4]. - Key financial metrics include: - Revenue: 37.8 billion (2021), 36.58 billion (2022), 35.47 billion (2023), 15.03 billion (2024 H1) - Net Profit: 8.78 billion (2021), 3.61 billion (2022), 5.05 billion (2023), 1.72 billion (2024 H1) - Gross Margin: 34.58% (2021), 17.21% (2022), 22.64% (2023), 21.74% (2024 H1) [4][5]. Corporate Governance - The company has undergone significant changes in its governance structure, transitioning to a joint-stock company in December 2023, which dissolved previous entrusted shareholding relationships [2]. - Yu Yongfa has been a key figure in the company since its inception, holding various leadership roles, including Chairman and General Manager, and currently serves as Honorary Chairman [5].