8, Shanshan Stock (600884) issued a heavy announcement that the controlling shareholder of Shanshan Group and its wholly-owned subsidiary Pengze Trade, the administrator of Shanshan Group and the restructuring investor Wanwei Group and Ningbo Jinzi signed the Restructuring Investment Agreement. If the reorganization is successful, the control of the company will be changed, and the controlling shareholder will be changed to Wanwei Group (Conch Group Holding Enterprise). On February 6
, 2026, Shanshan Group, Pengze Trade and the administrator signed the Restructuring Investment Agreement with the restructuring investors Wanwei Group and Ningbo Jinzi. According to the reorganization investment plan, the total investment limit of the priority beneficiary right of bankruptcy service trust for direct acquisition of stocks and spot investment stocks calculated according to the upper limit shall not exceed about 7.156 billion yuan. Through a series of arrangements
, Wanwei Group controls the voting rights of 21.88% of Shanshan shares held by the debtor or reaches a consensus with the debtor. First, direct acquisition of shares: Wanwei Group acquired 13.50% of Shanshan shares from the debtor at a price of about 16.42 yuan per share (including tax), with a total price of about 4.987 billion yuan; The second is to retain the shares: the remaining 8.38% of the shares of Shanshan held by the debtor after the reorganization shall act in concert with Wanwei Group within the prescribed time limit in accordance with the Agreement on Concerted Action. After the completion of this
investment, Wanwei Group will do its best to provide liquidity support for Shanshan shares.
As of the signing date of the Restructuring Investment Agreement, Shanshan Group held 287 million shares of the Company, accounting for 12.76% of the total share capital of the Company; Pengze Trading held 205 million shares of the Company, accounting for 9.13% of the total share capital of the Company. If the Restructuring Investment Agreement is approved and implemented smoothly, the control right of Shanshan shares will be changed, the controlling shareholder of the company will be changed to Wanwei Group (Conch Group Holding Enterprise), and the actual controller will be changed to Anhui SASAC. On January 29
this year, Conch Cement announced that Anhui Conch Group Co., Ltd., the controlling shareholder of the company, signed the Capital Increase and Restructuring Agreement with Wanwei Group on January 29, 2026. Accordingly, Conch Group intends to acquire 60% of the equity of Wanwei Group by way of capital increase, and the Capital Increase and Restructuring Agreement will not come into effect until the conditions such as the declaration of concentration of operators are fulfilled.
Ningbo Shanshan Co., Ltd. was founded on December 14, 1992 and became the first listed company in China's garment industry in 1996 (stock code: 600884), headquartered in Ningbo, Zhejiang Province. The company started with clothing business, transformed into the field of lithium-ion battery materials in 1999, and is now the world's leading dual-industry technology enterprise of lithium battery materials and polarizers. Its core business covers the R & D and manufacturing of anode materials and polarizers, among which the production and sales of anode materials ranked first in the world for many consecutive years. The polarizer business has become the industry leader through the acquisition of LG chemical related assets, and the market share of large-size LCD polarizers has exceeded 30%.
In 2025, the controlling shareholder Shanshan Group entered the judicial reorganization procedure, the company emphasized that the independence of operation was not affected, and the legal representative was changed to Zhou Ting. As of 2024, the company has registered capital of 2.253 billion yuan, more than 7000 employees and annual revenue of 18.68 billion yuan.
浙公网安备33010802003254号