Group 1 - The core point of the news is the change of control in Shanshan Co., Ltd. (杉杉股份) following the restructuring of its major shareholder, Shanshan Group (杉杉集团) [1][2] - Shanshan Group and its subsidiary Ningbo Pengze Trading Co., Ltd. are undergoing a substantial merger and restructuring process, with a consortium of investors led by Jiangsu Xinyangzi Trading Co., Ltd. signing a restructuring investment agreement [1][2] - The restructuring investors plan to acquire a total of 23.36% of Shanshan Co., Ltd.'s shares through direct purchase, partnership establishment, and voting rights delegation [1][2] Group 2 - Jiangsu Xinyangzi Trading Co., Ltd. will become the actual controller of Shanshan Co., Ltd. after the restructuring, with its actual controller Ren Yuanlin, who is the founder of Yangtze River Shipbuilding [2][3] - As of 2024, Jiangsu Xinyangzi Trading Co., Ltd. reported a revenue of 1.063 billion yuan, an increase of 86% year-on-year, and a net profit of 445 million yuan [3] - The crisis within the Shanshan system began to emerge after the death of its founder Zheng Yonggang in February 2023, leading to multiple instances of judicial freezes on shares [4]