Core Viewpoint - The control change plan for Shanda Diwei (688579) has been finalized, with the controlling shareholder shifting from Shanda Capital to Shandong Expressway Group, and the actual controller changing from Shandong University to the State-owned Assets Supervision and Administration Commission of Shandong Province [2][6]. Group 1: Control Change Details - Shanda Capital plans to transfer 24.59% of its shares in Shanda Diwei to Shandong Expressway Group without compensation, retaining 4.99% of the shares post-transfer [6]. - The control change planning began on April 10, 2023, in response to national policies on the reform of enterprises affiliated with universities [6]. - The stock price of Shanda Diwei has increased by 26% since the announcement of the control change plan, with a current market capitalization of 4.6 billion [6]. Group 2: Business Performance - In the first half of the year, Shanda Diwei achieved revenue of 209 million, a year-on-year increase of 0.46%, and a net profit attributable to shareholders of 19.77 million, a decrease of 5.18% compared to the same period last year [6]. - The company primarily serves government departments, medical institutions, and social enterprises, focusing on smart human resources, smart medical insurance, and intelligent electricity usage [6]. Group 3: Industry Context - The reform of university-affiliated enterprises has been ongoing since 2018, with several universities, including Tsinghua University and Fudan University, actively divesting assets [7]. - Shanda Diwei benefits from a strong talent pool, including 8 professors and 6 doctoral supervisors, and has established multiple innovation platforms in collaboration with institutions like Nanyang Technological University [7]. - The company emphasizes the transformation and empowerment of cutting-edge technologies into its business through collaborative research projects [7]. Group 4: Operational Stability - Shanda Diwei has stated that the share transfer will not affect its normal production and operations, which are currently stable [8].

Group 1 - Ouma Software announced on June 28, 2025, that its controlling shareholder, Shandong Shanda Capital Operation Co., Ltd., plans to transfer 25.82% of its shares to Shandong State-owned Assets Investment Holding Co., Ltd. without compensation, which may lead to a change in the controlling shareholder and actual controller of the company [3] - Shanda Diwei also announced on the same day that its controlling shareholder intends to transfer 24.59% of its shares to Shandong High-speed Group Co., Ltd. without compensation, which may similarly affect the controlling shareholder and actual controller of the company [5] - The share transfer is part of the reform of the corporate structure of enterprises affiliated with Shandong University, as mandated by national policies [8] Group 2 - Ouma Software's main business involves the research, development, sales, and services of information technology products in the examination and assessment field, providing comprehensive solutions for government departments, industry associations, educational institutions, and enterprises [9] - In the fiscal year 2024, Ouma Software reported a revenue of 212 million yuan, a decrease of 3.88% year-on-year, and a net profit attributable to shareholders of 70.10 million yuan, down 8.35% year-on-year [9] - Shanda Diwei is a leading "AI + blockchain" technology service provider in China, focusing on smart social security, smart healthcare, and intelligent electricity sectors, with a revenue of 555 million yuan in 2024, an increase of 3.14% year-on-year, but a net profit decline of 21.04% to 64.08 million yuan [9] - As of June 27, 2025, Ouma Software's stock price was 20.17 yuan per share, with a market capitalization of approximately 3.09 billion yuan, while Shanda Diwei's stock price was 11.68 yuan per share, with a market capitalization of about 4.67 billion yuan [9] Group 3 - Both Ouma Software and Shanda Diwei stated that the share transfer agreement ensures the stability of the management teams and will not affect normal operations, nor harm the interests of the companies and minority shareholders [10] - Shandong State-owned Assets Investment Holding Co., Ltd. and Shandong High-speed Group Co., Ltd. are large comprehensive enterprises that can effectively collaborate with the companies for future development, aligning with the interests of the companies and all shareholders [10]