Core Viewpoint - The photovoltaic cross-industry company Bangjie Co., Ltd. (002634.SZ) is set to change ownership, with Shanghai Qishuo becoming the new controlling shareholder through a share transfer agreement valued at 96.558 million yuan [2][7]. Company Overview - Bangjie Co., Ltd. was originally established in 1993, focusing on seamless clothing manufacturing, and went public in 2011. In 2022, the company transitioned into the photovoltaic sector, specifically entering the battery production segment with a 10GW TOPCon battery production base expected to commence operations by the end of Q3 2023 [11]. - The company has faced significant challenges in the photovoltaic industry, leading to financial losses and operational difficulties, including a bankruptcy restructuring application for its photovoltaic subsidiary in August 2023 [4][11]. Ownership Change - The share transfer agreement involves the transfer of 23.1 million shares, representing 5.03% of the total share capital, from existing shareholders to Shanghai Qishuo at a price of 4.18 yuan per share [7][9]. - Following the transfer, Shanghai Qishuo will hold a total of 91.58877 million shares, accounting for 20.36% of the total share capital, thus becoming the controlling shareholder of Bangjie Co., Ltd. [8]. Financial Performance and Challenges - The photovoltaic subsidiary has been operating at a loss, prompting the company to announce a continuation of production suspension as of June 2, 2023 [4][13]. - The financial strain from the photovoltaic business has affected the entire company, with investors seeking arbitration for the fulfillment of buyback obligations due to underperformance [5][14]. - A recent lawsuit involving a contract dispute with Suzhou Huanshi Lake Zhuguang Enterprise Management Partnership has emerged, with a claim amounting to 324 million yuan [15]. Future Direction - Despite the challenges in the photovoltaic sector, the company has indicated that its original seamless clothing business will remain a key source of revenue and a focus for future development [6][14].