Shanghai Industrial Holdings (00363) has announced that the Board has been informed by the company's direct controlling shareholder, Shanghai Industrial Investment (Holdings) Co., Ltd. (上实集团), that the proposed internal restructuring was completed on December 29, 2025, with Jin Zhong registered as the owner of all the issued shares of 上实集团.
To avoid any doubt, the change in the registered ownership of 上实集团 to Jin Zhong following the completion of the internal restructuring does not involve an acquisition of voting rights.
The voting rights are currently owned by the Shanghai Municipal Government and have been held by the Shanghai Municipal Government at all material times.
Consequently, as of the date of this announcement, Jin Zhong indirectly holds a controlling interest in the company (representing approximately 63.16% of the company's issued shares), a controlling interest in Shanghai Industrial Urban Development Group Limited (00563) (representing approximately 70.44% of 上实城开's issued shares), and a controlling interest in SIIC Environment Holdings Ltd. (00807) (representing approximately 50.12% of 上实环境's issued shares).
上实城开 and 上实环境 are both non-wholly-owned subsidiaries of the company.
As 上实集团, Shanghai Industrial (上海上实), and Jin Zhong are currently and have been at all material times beneficially wholly-owned by the Shanghai Municipal Government, the ultimate control of the company, 上实城开, and 上实环境 remains with the Shanghai Municipal Government.
Therefore, following the completion of the internal restructuring, there has been no change in the ultimate control of the company, 上实城开, and 上实环境.
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