Core Viewpoint - Recently, the leading paint company, Yashi Chuangneng (603378.SH), announced that all shares held by its controlling shareholder, Shanghai Chuangnengming Investment Co., Ltd. (Chuangnengming), and its actual controller, Li Jinzong, have been frozen due to the expiration of the employee stock ownership plan and significant losses [1][4]. Summary by Sections Shareholder Information - Chuangnengming holds 78.6555 million shares, accounting for 18.35% of the total share capital, while Li Jinzong holds 20.295 million shares, accounting for 4.74% of the total share capital. The frozen shares represent 100% of their respective holdings [1][3]. Employee Stock Ownership Plans - Yashi Chuangneng launched two employee stock ownership plans in 2020 and 2021 to incentivize employees and align their interests with the company. However, the continuous decline in stock prices has trapped employees in these plans, triggering the "bottom line" responsibility of the controlling shareholder [5][6]. - The first plan, initiated in August 2020, involved 1.1571 million shares, representing 0.59% of the total share capital, with an average transaction price of approximately 47.25 yuan per share [5]. - The second plan was completed by July 7, 2021, involving 1.7525 million shares, representing 0.85% of the total share capital, with an average transaction price of approximately 53.354 yuan per share [2][5]. Stock Performance - As of December 3, the company's stock price was 6.93 yuan per share, reflecting a decline of 5.33%. The stock had previously peaked at 87.56 yuan per share in September 2020, after which it entered a downward trend [2][5]. - The duration of both employee stock ownership plans was initially set to not exceed 36 months, but due to the declining stock price, the company extended the duration by one year for each plan [2][5]. Financial Performance - For the first three quarters of 2025, Yashi Chuangneng reported revenue of 397 million yuan, a year-on-year decline of 76.97%. The net profit attributable to the parent company was a loss of 311 million yuan, compared to a loss of 120 million yuan in the same period last year [3][6].

Core Viewpoint - Recently, the leading paint company, Yashi Chuangneng (603378.SH), announced that all shares held by its controlling shareholder, Shanghai Chuangnengming Investment Co., Ltd., and its actual controller, Li Jinchong, have been provisionally frozen due to the expiration of the employee stock ownership plan and significant losses incurred by the company [2][9]. Group 1: Shareholder Information - Chuangnengming holds 78.6555 million shares, accounting for 18.35% of the total share capital, while Li Jinchong holds 20.295 million shares, representing 4.74% of the total share capital. The frozen shares account for 100% of their respective holdings [2][9]. - In October, Yashi Chuangneng had previously announced that a total of 98.9505 million shares held by Chuangnengming and Li Jinchong were also frozen [2][9]. Group 2: Employee Stock Ownership Plans - Yashi Chuangneng launched two employee stock ownership plans in 2020 and 2021 to incentivize employees and align their interests with the company. However, the continuous decline in stock prices has trapped employees in these plans, triggering the "bottom line" responsibility of the controlling shareholder [2][9]. - The first employee stock ownership plan was initiated in August 2020, holding 1.1571 million shares, which is 0.59% of the total share capital, with an average transaction price of approximately 47.25 yuan per share [2][10]. - The second employee stock ownership plan was completed by July 7, 2021, holding 1.7525 million shares, or 0.85% of the total share capital, with an average transaction price of approximately 53.354 yuan per share [10]. Group 3: Financial Performance - As of December 3, the company's stock price was 6.93 yuan per share, reflecting a decline of 5.33%. The stock price had previously peaked at 87.56 yuan per share in September 2020 and has since been in a downward trend [6][13]. - For the first three quarters of 2025, Yashi Chuangneng reported revenue of 397 million yuan, a year-on-year decrease of 76.97%, and a net loss attributable to shareholders of 311 million yuan, compared to a loss of 120 million yuan in the same period last year [14].