Cangzhou Mingzhu: Guangzhou State-owned Assets Supervision and Administration Commission Will Become Company's Actual Controller

On October 16, Cangzhou Mingzhu announced that the company's controlling shareholder...Dongsu Groupand its persons acting in concert plan to transfer 167 million shares of the company they hold (accounting for 10.00% of the company's total share capital on the agreement signing date) toGuangzhou Light IndustryAt the same time, the voting rights corresponding to the remaining 160 million shares (accounting for 9.58% of the company's total share capital on the date of the agreement) will be entrusted to Guangzhou Light Industry. If the transfer is completed,Guangzhou Light IndustryWill become the controlling shareholder of the company.Guangzhou State-owned Assets Supervision and Administration CommissionWill become the actual controller of the company. Review: Cangzhou Mingzhu's introduction of Guangzhou State-owned Assets as the controlling shareholder is a typical example of a "state-owned capital takeover" change in control. This move not only can bring funding and resource support to the company but also is expected to leverage the state-owned background to enhance its credibility and market position in the new energy materials field. For the original controlling shareholders, this is a way to "cede control while retaining some benefits" as an exit strategy. In the future, how the new actual controller empowers the company...Cangzhou MingzhuThe business development will be the focus of market attention.