On July 8th, Glehnghui reported that Xiangcai Co., Ltd. (600095.SH) announced that, since Xinhu Holdings currently controls the shares of Xiangcai Co., Ltd. held by CaiShangshiYe, totaling 500 million shares (hereinafter referred to as the "target stocks"), and Xiangcai Co., Ltd. is a listed brokerage with high investment value. On July 8th, 2024, Xinhu Holdings, CaiShangshiYe, Zhejiang Merchants Assets, Zhejiang Merchants Special Assets and others signed the "Cooperation Agreement", "Partnership Agreement" and "Supplementary Agreement to the Partnership Agreement". Hangzhou Jinxin's executive partner plan will be changed from Xinhu Holdings to Zhejiang Merchants Special Assets, and Zhejiang Merchants Assets plans to take control of Hangzhou Jinxin and CaiShangshiYe to obtain the corresponding rights and interests of the target stocks, and empower the future development of listed companies.
With this equity change, Xiangcai Co., Ltd. plans to introduce Zhejiang Merchants Assets, which can not only further optimize the company's equity structure and improve the corporate governance structure, but also rely on the shareholder advantages of state-owned enterprises in Zhejiang Province to obtain better business resources, form business synergy effects, and further enhance and protect the interests of the company's small and medium-sized shareholders. In accordance with the agreement, within 2 months from the date of signing the "Cooperation Agreement", Xiangcai Co., Ltd. will convene a shareholder meeting to deliberate on the relevant proposal to increase the number of board seats to 9 (including 6 non-independent directors and 3 independent directors). Among the non-independent directors, CaiShangshiYe has the right to nominate 2 qualified director candidates, who will be appointed after the board's approval process.
After this equity change, the concerted action relationship between Xinhu Holdings and CaiShangshiYe will be lifted. Xinhu Holdings and its concerted action person, Xinhu Zhongbao, together hold 1,198,347,767 shares of the company, accounting for 41.91% of the total share capital of the company. CaiShangshiYe holds 500 million shares of the company, accounting for 17.49% of the total share capital of the company. This equity change does not involve an increase or decrease in the direct shareholding of the company's shareholders, nor does it involve a change in the controlling shareholder or actual controller of the company.