Shanghai Guao Electronic Technology Co.,Ltd. (300551) announced that its actual controller, Chen Chongjun, is planning a change of control, which may lead to a shift in the company's controlling party.
On December 7, the company received a written notice from Chen Chongjun's spouse, stating that discussions are underway regarding the potential change of control. The involved parties are currently negotiating specific transaction terms and agreements.
Due to the significant uncertainty surrounding this matter, the company has applied for a trading halt starting December 8 (Monday) to ensure fair information disclosure. The suspension is expected to last no more than two trading days.
On December 5, the company's stock closed at CNY 13.7 per share, surging 8.9%, with a market capitalization of CNY 4.66 billion.
**Three Consecutive Years of Losses** Shanghai Guao specializes in intelligent financial system solutions and financial software products, serving banks, securities firms, and other financial institutions. However, since its 2016 IPO, its net profit has declined, with losses recorded from 2022 to 2024. In the first three quarters of 2025, the company reported a net loss of approximately CNY 164 million.
**Investment in New Memory Technology** In August 2023, Shanghai Guao invested in Shanghai Haoyuan Gu Information Management Partnership, which holds a 24.8432% stake in New Memory Technology (Wuhan) Co., Ltd. New Memory Technology, spun off from the Yangtze River Advanced Memory Innovation Center, focuses on 3D memory solutions.
Ju Shaofu, the actual controller of New Memory Technology and a director of Shanghai Guao, holds key leadership roles in the semiconductor industry. Currently, Shanghai Guao is the largest single shareholder in New Memory Technology.
Ju Shaofu, 79, holds a Ph.D. in Electrical Engineering from Case Western Reserve University and has held senior positions at IBM, GlobalFoundries, and Yangtze Memory Technologies.
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