Group 1 - The core point of the announcement is that after three years of control by Henan state-owned assets, the actual controller of Zhongwei Electronics (300270) will change to Fu Yingbo [1][5] - On December 11, Zhongwei Electronics announced that its controlling shareholder, Xinxiang Investment Industry M&A Fund No. 1, signed an agreement with Jinan Junchuan Technology Partnership, resulting in a change of actual control [5][6] - Following the completion of the equity change, the new controlling party and its concerted actions will collectively control 22.00% of the shares of Zhongwei Electronics, with Fu Yingbo becoming the actual controller [6] Group 2 - Fu Yingbo is currently the CEO and Executive Director of Baiwang Co., and has previously served as the President of Megvii Technology from October 2016 to July 2024 [6] - Zhongwei Electronics, established in 2000, specializes in security video surveillance transmission technology and products, focusing on AI video applications and industry IoT solutions [6] - The company provides standardized and replicable system solutions for various sectors, including smart highways, smart transportation, smart parking, and smart city management, leveraging its "Zhongwei Cloud" AIoT video cloud platform [6]

Core Viewpoint - The actual controller of Zhongwei Electronics will change to Fu Yingbo after a control rights transfer, with the transaction expected to complete by December 12, 2025 [2][6][7]. Group 1: Control Rights Change - The announcement states that Xinxiang Investment Fund No. 1 will remain the controlling shareholder, while the actual controller will shift from the Xinxiang Municipal Government to Fu Yingbo [6][7]. - After the completion of the transaction, the acquirer and its concerted parties will collectively control 22.00% of the shares of Zhongwei Electronics [7]. - Fu Yingbo is currently the CEO of Baiwang Co., Ltd. and has a background in data intelligence transformation [7]. Group 2: Company Background - Zhongwei Electronics, established in 2000, specializes in security video surveillance transmission technology and products, focusing on AI video applications and industry IoT solutions [7][8]. - The company provides standardized and replicable system solutions for various sectors, including smart highways, smart transportation, and smart city management, leveraging its "Zhongwei Cloud" AIoT video cloud platform [8]. Group 3: Historical Context - In 2022, Henan State-owned Assets took control of Zhongwei Electronics, with Xinxiang Investment Fund No. 1 officially completing its acquisition of the company in May 2022 [8].

Core Viewpoint - The actual controller of Zhongwei Electronics will change to Fu Yingbo, with the company set to resume trading on December 12, 2025. The company has been struggling with losses, having been in a loss state for six out of the last seven years [1][2][3]. Group 1: Shareholding Changes - The controlling shareholder, Xinxiang Investment Industry M&A Fund No. 1, will transfer 55.00% of its equity interest to Jinan Jun Chuan Technology Partnership, while Jinan Meng Rui Si Technology Partnership will acquire 5.00% of the company's total shares [1][2]. - After the equity change, Xinxiang Investment Industry M&A Fund No. 1 will hold 17.00% of the company's total shares, remaining the controlling shareholder [2]. - The new actual controller, Fu Yingbo, will control Zhongwei Electronics through Xinxiang Investment Industry M&A Fund No. 1, with the acquirer and its concerted parties collectively controlling 22.00% of the shares [2]. Group 2: Management and Performance - Fu Yingbo has extensive industry resources, technical development, and enterprise management experience, which he plans to leverage for the company's industrial iteration and upgrade [2]. - Zhongwei Electronics has reported a significant decline in performance, with a total revenue of 71.1 million yuan in the first three quarters of 2025, a year-on-year decrease of 34.47%, and a net profit attributable to shareholders of -43.32 million yuan [3].