June 2, Bangjie issued a progress announcement on the temporary suspension of production of its subsidiaries. Due to intensified competition in the photovoltaic industry and falling product prices, Yangzhou Bangjie's operation did not meet expectations and continued to lose money. In order to avoid expanding losses, it decided to continue to stop production lines. Previously, on March 4, the company announced that in order to reduce losses and improve equipment performance, Yangzhou Bangjie has temporarily shut down and overhauled the production line of high-efficiency photovoltaic solar cells since March 1. It is expected that the shutdown will not exceed three months, but the situation has not improved.
In addition, on the evening of May 30, some shareholders, such as Tao Jianwei, the controlling shareholder and actual controller of Bangjie, and his concerted actors, signed an agreement with Shanghai Qishuo Ruixing to transfer shares and entrust voting rights. After completion, Shanghai Qishuo became the controlling shareholder of the company and Huang Rongyao became the actual controller of the company.
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