Core Viewpoint - The major shareholder of Gongjin Co., Ltd. (603118.SH) has signed a share transfer agreement with Tangshan Industrial Control, resulting in a change of controlling shareholder and actual controller to Tangshan Municipal Government State-owned Assets Supervision and Administration Commission [1][4]. Group 1: Share Transfer Details - The first share transfer involves the transfer of approximately 11.18% of shares from major shareholders to Tangshan Industrial Control at a price of 10.75 CNY per share, totaling 947 million CNY [5][9]. - After the completion of the first share transfer and voting rights entrustment, Tangshan Industrial Control will hold approximately 11.18% of shares and 26.10% of voting rights in Gongjin Co., Ltd. [7][11]. Group 2: Company Background and Financials - Gongjin Co., Ltd. was listed on the Shanghai Stock Exchange on February 25, 2015, and its main businesses include network communication, mobile communication, and automotive electronics [2][3]. - As of June 30, 2025, Tangshan Industrial Control reported total assets of 23.565 billion CNY and equity attributable to shareholders of 4.885 billion CNY, with revenues of 2.467 billion CNY in 2022 and 2.815 billion CNY in 2023 [15][16].

Group 1 - The core point of the article is that Gongjin Co., Ltd. will change its controlling shareholder to Tangshan Industrial Holding Group Co., Ltd., with the actual controller becoming the Tangshan State-owned Assets Supervision and Administration Commission [2][5] - Gongjin Co., Ltd. has been suspended from trading since October 27 and plans to resume trading on November 3 [5] - As of October 24, Gongjin's stock price was 11.94 yuan per share, with a market capitalization of 9.4 billion yuan [5] Group 2 - The first share transfer agreement was signed on October 31, where the current major shareholders will transfer approximately 11.18% of their shares to Tangshan Industrial Holding at a price of 10.75 yuan per share, totaling 9.47 billion yuan [9][11] - After the first share transfer and voting rights delegation, Tangshan Industrial Holding will hold about 11.18% of Gongjin's shares and have 26.10% of the voting rights [14] - The second share transfer is planned to further enhance Tangshan Industrial Holding's control over Gongjin, with agreements to transfer additional shares by June 30, 2026 [17][18] Group 3 - Gongjin Co., Ltd. reported revenues of 10.974 billion yuan, 8.530 billion yuan, and 8.376 billion yuan for the years 2022 to 2024, with net profits of 227 million yuan, 64.7 million yuan, and a loss of 79.9 million yuan respectively [23] - In the first three quarters of 2025, Gongjin's revenue increased by 8.15% to 6.539 billion yuan, and net profit surged by 529.94% to 86.3 million yuan [27][28] - The company has no plans to fundamentally change its main business in the next 12 months but may propose reasonable adjustments to enhance its sustainable development and profitability [22]