CSPC Credit Rating Co., Ltd. (hereinafter "CSPC") conducts ratings for Pulin Software Co., Ltd. (hereinafter "Pulin Software" or the "Company", stock code: 300996.SZ) and its issued bonds. Aside from the rating engagement, CSPC and its rating personnel have no association with the Company that would affect the independence, objectivity, or fairness of the rating.
| Bond Name | Last Rating Date | Last Rating Result |
|---|---|---|
| Subject Rating | ||
| Pulin Convertible Bonds | June 24, 2026 | A+ |
According to a series of announcements released by the Company since July 25, 2026, regarding the planning of a change in control, on July 29, 2026, the Company's controlling shareholders and actual controllers, Lin Guoqiang, Wang Hu, and their persons acting in concert including Xiang Hongwei (16 people in total, hereinafter "Transferors"), signed a "Share Transfer Agreement" with Beijing Minglue Zhaohui Technology Co., Ltd. (hereinafter "Minglue Zhaohui"). Under this agreement, the 16 individuals intend to transfer a total of 75,473,893 shares of the Company to Minglue Zhaohui, representing 19.07% of the total share capital. The transfer price is 11.38 RMB per share, for a total consideration of 859 million RMB. Upon completion of this transfer, Wang Hu will no longer hold shares in the Company, the controlling shareholder will change from Lin Guoqiang and Wang Hu to Minglue Zhaohui, and the actual controller will change to Wu Minghui. Following the delivery of the target shares, the Company's Board of Directors will be reorganized to consist of 9 directors (including 5 non-independent directors, 3 independent directors, and 1 employee representative director). Minglue Zhaohui will have the right to nominate 4 non-independent director candidates and 3 independent director candidates, while the Transferors will have the right to nominate 1 non-independent director candidate.
Table 1: Changes in Shareholding Ratios of Transaction Parties Before and After the Transaction