Photovoltaic Listed Company "Family Infighting" Ends, Daughter Withdraws from Actual Controller

2026-11-02 17:52:36

On October 29, Tuori Xinneng announced that Chen Chen transferred 28.6% of the shares of Shenzhen Aoxin Investment Development Co., Ltd. (Hereinafter referred to as "Aoxin Investment"), the controlling shareholder of the listed company, to his father Chen Wukui, and 25% of the shares of Aoxin Investment to his mother Li Fenli.

On October 29, Tuori Xinneng announced that Chen Chen had completed the registration of industrial and commercial changes in the transfer of 28

shares under his name. After the completion of the above

equity transfer, the actual controller of Tuori Xinneng is Chen Wukui, and the concerted actors are Li Fenli and Chen Jiahao (Chen Chen's younger brother). Chen Chen no longer directly or indirectly holds the shares of Tuori Xinneng Company.

The end of the the agreement, The above parties shall negotiate in advance on the proposal and voting matters to the shareholders' meeting and the board of directors. If the negotiation fails or any party does not participate in the negotiation, the opinions of Chen Wukui shall prevail. Li Fenli and Chen Jiahao shall decide whether to propose, the content of the proposal, express their opinions and vote according to the opinions of Chen Wukui.

As of the disclosure date of the announcement, the aforementioned three people controlled 553,878,812 shares of Tuori Xinneng, accounting for 39% of the company's total equity.

Shareholding received by the Company 9.

Dongfang Hexin proposed to add the Proposal on the Removal of Ms. Chen Chen as a Director and the Proposal on the Alternate of Ms. Gong Yanping as a Director at the above general meeting.

Dongfang Hexin believed that Chen Chen lived overseas all the year round, and it was difficult for him to fully perform his duties. It also believed that when Chen Chen participated in the relevant discussions of the board of directors, he showed his understanding of the operation and financial situation of the listed company and other important aspects, and it was difficult for him to express his opinions independently, objectively and professionally and make prudent decisions, which affected the quality and efficiency of the board of directors' decision-making. (Related reading: Chen Chen disagrees with this statement." In the name of executive director and legal representative of Aoxin Investment, he submitted a temporary proposal letter on behalf of Aoxin Investment, requesting the dismissal of Chen Jiahao and Li Fenli, non-independent directors of the seventh board of directors of Tuori Xinneng. (Related reading: or as a result of the above litigation," The board of directors of Tuori Xinneng has doubts about whether Chen Chen can invest on behalf of Aoxin. Finally, Chen Chen's proposal was not submitted to the shareholders' meeting in 2025 for consideration.

This "family infighting" is firmly on the table.

Affected by the above events, the share price of Tuori Xinneng also fluctuated. From May 25 to 27, the company's share price fell for three consecutive trading days, with an interval decline of 11.

Daughter withdraws from the ranks of actual controllers 2 "SRC =" https://img7.ccement.com/news/2611/richtext/img/6ae85cf0e1a346978071. for this, Chen Wukui said at the 2025 annual shareholders' meeting on June 3: "We control the things we can control, and we don't want to see the stock price fall, but it does affect the stock price."

At the above-mentioned shareholders' meeting, Chen Wukui also responded to the "internal strife" incident: "She is my daughter. As a father, I need to review first. I will reserve the board seat of my daughter (Chen Chen) in the voting process of this meeting. The contradiction between father and daughter is not as big as everyone imagines." At the same time, Chen Wukui also revealed that he had communicated with Chen Chen before the meeting, "My attitude has changed.". On the evening of September

15, Tuori Xinneng announced that Chen Wukui and Li Fenli had applied to the court to withdraw the two previous lawsuits against Chen Chen and Aoxin Investment, and the court had also decided to allow the withdrawal.

At this point, Tuori Xinneng's family "internal strife" may come to an end, and Chen Chen eventually withdrew from the ranks of actual controllers. In the

third quarter of this year, Tuori Xinneng achieved a revenue of 244 million yuan, a year-on-year decline of 19.81%; the net profit loss of the parent company was 42 million yuan, a year-on-year loss of 14.26%; 2.

From January to September this year, Tuori Xinneng achieved a total revenue of 717 million yuan, a year-on-year decline of 11.74%; the net profit loss attributable to the parent company was about 100 million yuan, a year-on-year loss of 8.51%; The net profit loss after deduction of non-attributable profit was RMB103 million, representing a year-on-year decrease of 10.9%.

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Correlation

On October 29, Tuori Xinneng announced that Chen Chen transferred 28.6% of the shares of Shenzhen Aoxin Investment Development Co., Ltd. (Hereinafter referred to as "Aoxin Investment"), the controlling shareholder of the listed company, to his father Chen Wukui, and 25% of the shares of Aoxin Investment to his mother Li Fenli.

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