of April 15, the voting period of the Reorganization Plan (Draft) of Shanshan Group Co., Ltd. and Ningbo Pengze Trading Co., Ltd. expired, and the draft was approved by the fourth creditors'meeting in groups. The reorganization administrator will apply to the People's Court of Yinzhou District, Ningbo City, Zhejiang Province (hereinafter referred to as the "Yinzhou Court") for approval in accordance with the law.
Shanshan announced that if the reorganization is successful, the controlling shareholder of the company will be changed to Anhui Wanwei Group Co., Ltd. (Hereinafter referred to as "Wanwei Group"), and the actual controller will be changed to Anhui SASAC. At the same time, Conch Group's capital increase holding of Wanwei Group is also in full swing.
If the above transactions are completed, Conch Group will control Anhui Wanwei Group and indirectly control Shanshan Group.
In addition, on the evening of March 13, Western Cement announced that in order to further optimize the company's investment structure, reduce debt ratio, save interest costs, allocate resources more effectively, strengthen strategic focus on key development areas, promote the expansion and deepening of the group in overseas markets, and enhance the overall operational efficiency and long-term competitiveness of the group. The Company is currently in preliminary negotiations with potential buyers for the disposal of certain assets of the Group in the PRC.
It is worth noting that the potential buyer is an associate of Conch International Holdings (Hong Kong) Limited, a major shareholder of the Company. According to the Listing Rules of the Hong Kong Stock Exchange, if the transaction is finalized, it will constitute a notifiable transaction and a connected transaction, which requires the corresponding approval and disclosure procedures. There are market rumors that Conch Cement has begun to integrate the domestic assets of Western Cement.
As we all know, Conch Group has been selected as the world's top 500 for five consecutive years (2019-2023) and lost in 2024. Now, Conch Group has launched a large-scale merger and reorganization, if all the above mergers and acquisitions and rumors fall to the ground, can Conch Group return to the world's top 500? Data
show that in 2024, Conch Group's revenue was 143.862 billion yuan, Wanwei Group's revenue was 9.235 billion yuan, Shanshan's revenue was 18.68 billion yuan, and Western Cement's domestic revenue was 5.238 billion yuan. The total revenue of the four companies is 177.015 billion yuan.
In 2025, the entry threshold of the world's top 500 is 32.2 billion US dollars, or about 220 billion RMB. Accordingly, even if all the mergers and acquisitions mentioned above come to the ground, Conch Group is still more than 40 billion away from the threshold of the world's top 500, and it still needs to redouble its efforts in the future.
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