Zhenhai Shares: Controlling Shareholder Shuntong Group to Transfer 15% Stake, Control to Change

English summary

Zhenhai Shares announced that controlling shareholder Ningbo Shuntong Group signed a share transfer agreement with Shanghai Puweilai Spring, planning to transfer 35.8029 million shares (15% of total capital) at 15.51 yuan per share, with total consideration of 555 million yuan. After completion, Puweilai Spring will become the controlling shareholder and actual controller will change to Zhang Wenlong. The transaction is subject to state-owned asset approval and other procedures.