Core Viewpoint - He Sheng New Materials is undergoing another change in control, with the major shareholder Zhao Dongming and his associates transferring 18% of the company's shares to Moer Zhixin at a price of 33.71 yuan per share, totaling approximately 1.505 billion yuan [1][3]. Group 1: Share Transfer Details - The share transfer involves 44.66 million shares, representing 18% of He Sheng New Materials' total share capital, with a total transaction value of approximately 1.505 billion yuan [1][3]. - After the transaction, Moer Zhixin will become the controlling shareholder, while Zhao Dongming and his associates will hold 13.72% of the shares and forfeit voting rights on 6% of the shares [3]. - The transfer price represents a discount of about 13% compared to the market price of 38.82 yuan per share as of November 21 [3]. Group 2: Historical Context - He Sheng New Materials has experienced multiple changes in control, initially founded and controlled by Zhao Dongming, then transferred to Zhongke Chuang Asset Management in 2016, and later returned to Zhao Dongming in 2023 after legal issues faced by the previous controller [4]. - The company has a history of control changes, with the most recent shift occurring just over two years after Zhao Dongming regained control [4]. Group 3: New Controlling Entity - Moer Zhixin, the new controlling entity, was established less than three months prior to the acquisition and has a registered capital of 755 million yuan, operating in the software and information technology services sector [5][6]. - The business scope of Moer Zhixin includes various trending areas in the information technology industry, such as information system integration, AI public data platforms, and integrated circuit design and manufacturing [6]. - The actual controller of Moer Zhixin, Xie Haiwen, has a strong background in finance and investment, having held senior positions in various financial institutions [6]. Group 4: Company Performance - He Sheng New Materials has shown a steady increase in revenue and net profit, with a reported revenue of 1.862 billion yuan for the first three quarters of the year, reflecting a year-on-year growth of 1.41%, and a net profit of 144 million yuan, up 67.90% year-on-year [7].

Core Viewpoint - He Sheng New Materials is undergoing another change in control, with the major shareholder Zhao Dongming and his associates transferring 18% of the company's shares to Moer Zhixin at a price of 33.71 yuan per share, totaling approximately 1.505 billion yuan [2][5]. Group 1: Share Transfer Details - The share transfer involves 44.66 million shares, representing 18% of He Sheng New Materials' total share capital, with a total transaction value of approximately 1.505 billion yuan [5]. - The transfer price of 33.71 yuan per share reflects a discount of about 13% compared to the closing price of 38.82 yuan per share on November 21 [4][5]. - After the transaction, Moer Zhixin will become the controlling shareholder, while Zhao Dongming and his associates will hold 13.72% of the shares and forfeit voting rights for 6% of the shares [5]. Group 2: Historical Context - This is not the first change in control for He Sheng New Materials; the company was originally founded and controlled by Zhao Dongming, then transferred to Zhongke Chuang Asset Management in 2016, and later returned to Zhao Dongming in 2023 after legal issues faced by the previous controller [6][9]. - The new controlling entity, Moer Zhixin, was established recently and is involved in various sectors within the information technology industry, including software services and integrated circuit design [9]. Group 3: Company Performance - He Sheng New Materials has shown a steady increase in revenue and net profit, with reported revenue of 1.862 billion yuan for the first three quarters of the year, a year-on-year increase of 1.41%, and a net profit of 144 million yuan, up 67.90% year-on-year [10].

Core Viewpoint - The controlling shareholder of He Sheng New Materials (002290) will change to Shanghai Moer Zhixin Information Technology Partnership (Limited Partnership), with the actual controller shifting from Zhao Dongming to Xie Haiwen [2][4]. Group 1: Share Transfer Details - On November 21, He Sheng New Materials announced that Zhao Dongming and his associates signed a share transfer agreement to transfer 44.66 million shares (18% of total shares) to Moer Zhixin at a price of 33.71 CNY per share, totaling approximately 1.505 billion CNY [4][5]. - After the transaction, Moer Zhixin will hold 18% of He Sheng New Materials, while Zhao Dongming and associates will retain 34.03 million shares (13.72% of total shares) and waive voting rights for 14.89 million shares (6% of total shares) [6]. Group 2: New Controller Background - Xie Haiwen, born in 1984, holds a master's degree in financial engineering from Peking University and has extensive experience in investment and management roles, including positions at China International Capital Corporation and various investment firms [6][7]. Group 3: Future Plans and Business Overview - Moer Zhixin recognizes the intrinsic value and long-term investment potential of He Sheng New Materials and plans to enhance the company's competitiveness and profitability through operational management experience and resource integration [7]. - Currently, Moer Zhixin has no plans for significant changes to He Sheng New Materials' main business in the next 12 months, which focuses on the research, production, and sales of appearance composite materials for home appliances [8].

Core Viewpoint - The controlling shareholder of He Sheng New Materials (002290) will change to Shanghai Moer Zhixin Information Technology Partnership (Limited Partnership), with the actual controller shifting from Zhao Dongming to Xie Haiwen [1][3]. Group 1: Share Transfer Details - On November 21, He Sheng New Materials announced that Zhao Dongming and his associates signed a share transfer agreement to transfer 44.66 million shares (18% of total share capital) to Moer Zhixin at a price of 33.71 CNY per share, totaling approximately 1.505 billion CNY [3]. - After the transaction, Moer Zhixin will hold 18% of He Sheng New Materials, while Zhao Dongming and associates will retain 34.03 million shares (13.72% of total share capital) and waive voting rights for 14.89 million shares (6% of total share capital) [5]. Group 2: New Controller Background - Xie Haiwen, born in 1984, holds a master's degree in financial engineering from Peking University and has extensive experience in investment management and corporate governance [5]. - Moer Zhixin was established on August 29, 2025, and is controlled by Xie Haiwen through Beijing Shanchuang Technology Co., Ltd. [6]. Group 3: Business Operations and Future Plans - He Sheng New Materials specializes in the research, production, and sales of appearance composite materials for home appliances, with a high market share among major domestic and international brands [7]. - For the first three quarters of 2025, He Sheng New Materials reported revenue of 1.862 billion CNY, a year-on-year increase of 1.41%, and a net profit of 144 million CNY, a year-on-year increase of 67.9% [8].

Core Viewpoint - He Sheng New Materials Co., Ltd. announced that its director Wu Haifeng is under investigation for illegal loan issuance, but this matter is personal and does not affect the company’s operations or control [1][2]. Company Overview - He Sheng New Materials specializes in the research, production, and sales of appearance composite materials for home appliances [2]. - The company has seen its stock price increase by over 140% year-to-date, reaching a peak of 42.96 yuan per share on October 13 [3]. Management and Governance - Wu Haifeng, born in November 1976, holds a master's degree from Fudan University and has held various senior positions in banking and asset management before becoming a director at He Sheng New Materials [2]. - Wu Haifeng has not received any remuneration from the company and does not hold any shares in He Sheng New Materials [2]. Recent Developments - He Sheng New Materials plans to invest 250 million yuan in Yizhi Electronics, which has a pre-investment valuation of 2.25 billion yuan, aiming to acquire a 10% stake [2]. - Yizhi Electronics is one of the few companies in China that has commercialized ARM server processor chips, with products targeting AI and cloud computing applications [3]. Shareholder Activity - On October 9, key executives, including the chairman and general manager, collectively reduced their holdings by approximately 167,300 shares, representing 0.0675% of the company's total shares [3].