Important Notice
- This equity change does not involve a change in the number of shares. It is the termination of the concerted action agreement among the actual controllers Cao Lixiang, Li Zhengjiao, Liang Yuxiang, Hu Jianxin (from Hengyang), Chen Jianguo, He Zhiwang, Chen Chaoshun, and Li Yongquan of Hunan Hengguang Technology Co., Ltd. (hereinafter referred to as "the Company" or "the listed company") after its expiration on March 31, 2026.
- After the termination of the concerted action agreement, the number and proportion of shares directly and indirectly held by the eight shareholders will remain unchanged, and the relevant shares will no longer be calculated collectively.
- After the termination of the concerted action relationship, the actual controller of the Company will change from the eight individuals to Cao Lixiang alone. The controlling shareholder will still be Hunan Hongjiang Hengguang Investment Management Co., Ltd., and there will be no change.
Recently, the Company received a notice from the actual controllers Cao Lixiang, Li Zhengjiao, Liang Yuxiang, Hu Jianxin (from Hengyang), Chen Jianguo, He Zhiwang, Chen Chaoshun, and Li Yongquan regarding the termination of the concerted action agreement, confirming that the agreement will expire on March 31, 2026, and the concerted action relationship will be terminated on the same date. After the termination of the concerted action relationship, the number and proportion of shares held directly or indirectly by the aforementioned shareholders will remain unchanged, and the shares will no longer be calculated collectively. The actual controller will change from the eight concerted actors to Cao Lixiang alone.
I. Signing and Performance of the Concerted Action Agreement
The actual controllers of the Company are Cao Lixiang, Li Zhengjiao, Liang Yuxiang, Hu Jianxin (from Hengyang), Chen Jianguo, He Zhiwang, Chen Chaoshun, and Li Yongquan, who collectively hold 3.47% of the Company's shares directly and control 44.38% of the shares indirectly through holding 62% of the controlling shareholder Hunan Hongjiang Hengguang Investment Management Co., Ltd. (hereinafter referred to as "Hengguang Investment"). To enhance the stability of the Company's control structure, the actual controllers signed the concerted action agreement on March 5, 2009, and renewed it on April 8, 2019. To ensure the stability of the Company's control, a supplementary agreement to the concerted action agreement was signed on January 7, 2021, stipulating that the shareholders and directors of Hengguang Investment would exercise their proposal rights and voting rights in accordance with Cao Lixiang's opinions during shareholder meetings and board meetings, and maintain consistency with Cao Lixiang in the nomination and dismissal of Hengguang Investment's directors, supervisors, and senior executives, as well as all major decisions of the Company. The concerted action agreement is valid until March 31, 2026. Since the signing of the concerted action agreement, all parties have fully complied with its provisions regarding the agreed concerted actions, and there have been no violations of the agreement.
II. Termination of the Concerted Action Agreement
(1) Termination of the Concerted Action Agreement
The Company received a notice from the actual controllers Cao Lixiang, Li Zhengjiao, Liang Yuxiang, Hu Jianxin (from Hengyang), Chen Jianguo, He Zhiwang, Chen Chaoshun, and Li Yongquan, confirming through consultation that the concerted action agreement will terminate on March 31, 2026, and the concerted action relationship will be dissolved on the same date.