Core Viewpoint - The control issue of Xi'an Ruilian New Materials Co., Ltd. has been resolved, with Qingdao Development Zone Investment Construction Group Co., Ltd. recognized as the controlling shareholder, marking a significant shift in corporate governance and ownership structure [3][4][11]. Shareholder and Governance Structure - As of August 13, 2025, Qingdao Development Zone Investment Construction Group holds 25% of the voting rights, allowing it to dominate the board elections [3][4]. - The new board consists of 5 non-independent directors, 3 independent directors, and 1 employee representative, with Liu Xiaochun appointed as chairman and Ji Kaishi as vice chairman [4][11]. - The shareholding structure shows Qingdao Development Zone Investment Construction Group with 22,227,464 shares (12.81%), followed by Ningbo Zhuoshihengli Investment Partnership with 21,166,362 shares (12.19%) [9]. Business Performance and Growth Potential - Ruilian New Materials expects a revenue of 806 million yuan for the first half of 2025, a year-on-year increase of 16.27%, and a net profit of 162 million yuan, reflecting a 69.93% growth [11]. - The company specializes in OLED materials and semiconductor photoresists, playing a crucial role in the display materials industry, aligning with Qingdao's "strong chip and expand screen" strategy [11][14]. Strategic Synergies and Resource Injection - The controlling shareholder, Qingdao Development Zone Investment Construction Group, can leverage its resources to enhance Ruilian's development, particularly in the OLED and pharmaceutical sectors [14][15]. - The collaboration with over 30 companies in the chip and screen industry can create a closed-loop supply chain, improving sales channels and supply chain positioning for Ruilian [14][15]. - Qingdao Development Zone Investment Construction Group plans to inject up to 815 million yuan into Ruilian for operational and project development needs [14][15]. Management and Policy Support - The new governance structure is expected to introduce advanced management practices from the state-owned enterprise sector, optimizing Ruilian's operational efficiency and cost structure [15]. - Close ties with the government will facilitate better communication for securing favorable industrial policies, such as tax incentives and land support, enhancing profitability [15][16].