Core Viewpoint - The control of Zhen'an Technology (300767) is set to change, with the current controlling shareholder, Beijing Huachuang Sanxin Investment Management Co., Ltd., planning to transfer 100% of its equity to Shenzhen Dongchuang Technology Co., Ltd. for 616 million yuan, leading to a shift in actual control from Li Tao to Ning Huaxiang and Zhou Jianqi [1][2] Group 1: Shareholder Changes - The transaction involves the transfer of 100% equity of Huachuang Sanxin by its two legal shareholders to Shenzhen Dongchuang for 616 million yuan [2] - Li Tao, the current actual controller, will relinquish voting rights for 12% of shares, reducing his voting power to 5.28% post-transaction [2] - After the transaction, Huachuang Sanxin remains the controlling shareholder, while Shenzhen Dongchuang will hold 18.12% of voting shares through Huachuang Sanxin [2] Group 2: Background of Shenzhen Dongchuang - Shenzhen Dongchuang, previously known as Dongchuang Precision, has a registered capital of 69.12 million yuan and has been involved in the capital market since 2019 [3] - The company has established itself as a core supplier for Huawei and has partnerships with other major firms like ZTE, Foxconn, and BYD [3] Group 3: Financial Performance of Zhen'an Technology - Zhen'an Technology has reported losses for two consecutive years, with total net losses amounting to 182 million yuan [1][6] - In 2023 and 2024, the company generated revenues of 694 million yuan and 417 million yuan, respectively, with net losses of 41.13 million yuan and 141 million yuan [6] - The company's gross profit margin decreased to 31.65% in 2024, with specific product margins showing mixed results [6][7] Group 4: Investment Projects and Future Outlook - Zhen'an Technology's investment projects have underperformed, with significant losses reported in both IPO and convertible bond projects [7] - The company aims to leverage Shenzhen Dongchuang's industry resources to enhance its operational capabilities and improve overall competitiveness [7]