On June 30, 2024, Fushun Special Steel (600399.SH) announced the passing of Mr. Shen Wenrong, the former actual controller of the company. Mr. Shen did not directly hold shares in the company during his lifetime. He held a 29.32% stake in Jiangsu Shagang Group Co., Ltd. (referred to as "Shagang Group"), the second largest shareholder of the company, and a 70.53% stake in Ningbo Meishan Free Trade Port Area Jincheng Shazhou Private Equity Investment Co., Ltd. (referred to as "Jincheng Shazhou"), the indirect controlling shareholder of the company. He also held a 50.01% equity interest in Runyuan Stainless Steel Trading Co., Ltd. (referred to as "Runyuan Stainless Steel"), a shareholder of Shagang Group.
Recently, Mr. Shen Bin obtained all the equity of Shagang Group, Jincheng Shazhou and Runyuan Stainless Steel that Mr. Shen Wenrong originally held through the distribution, transfer and inheritance of Mr. Shen Wenrong's estate after his passing, and became the actual controller of the company. The equity interests of the above have been changed and completed the industrial and commercial registration procedures on July 16, 2024.