On the evening of October 20, Yingying Network (002517.SZ) disclosed the "Announcement on the Change of the Company's Largest Shareholder and Actual Control".
The announcement stated that the 25,448,370 shares of the company held by the company's original controlling shareholder and actual controller that were auctioned by the judicial auction were transferred to Zhang Feng's name, and the 112,477,078 shares of the company that were auctioned by the judicial auction were transferred to Shaoxing Ansheng Enterprise Management Partnership (Limited Partnership) ) (hereinafter referred to as "Shaoxing Ansheng"), which led to the change of the company's largest shareholder, and the company's controlling shareholder and actual controller was changed from Wang Yue to non-controlling shareholder and actual controller.
In addition, the company also simultaneously disclosed the "Announcement on the Second Judicial Auction and Passive Reduction of Part of the Company's Shares Held by Shareholders" that night.
The announcement shows that some of the shares held by Wang Yue have completed the judicial auction, and the proportion of the shares held by Wang Yue will be reduced to 2.68% of the company's total share capital after the passive reduction.
The original company's second largest shareholder, chairman Jin Feng's 13.78% total share capital remained unchanged, passively becoming the company's largest shareholder.
The hammer of this auction marks the complete decoupling of the former actual controller of Yingying Network from the company.
Kaiying Network stated that this change in equity will not adversely affect the company's daily business activities, nor will it affect the company's independence in business, assets, institutions, personnel, finance and other aspects.
In addition, the company has a standardized corporate governance structure and the ability to operate independently. This equity change will not lead to major changes in the company's business operations, nor does it harm the interests of the company and minority shareholders.
Looking back on the development of Yingying Network in recent years, since the appearance of the new management of Yingying Network in 2019, the company has gradually dealt with the issue of equity auctions and continuously cleared up the problems left over from history.
Industry insiders pointed out that Yingying Network is building a positive enhancement loop between corporate governance and performance growth. Under the governance of the new management, long-term performance growth is expected to reach a new level.