Another Sky-High Divorce on the A-Share Market as Wife Walks Away with Nearly 2.4 Billion Yuan

Deep News10-12 20:20

On October 12, Shennong Group announced that Chairman, General Manager, Controlling Shareholder, and Actual Controller He Zuxun and Luo Wanyu reached a mediation agreement in their litigation, with both parties voluntarily dissolving their marriage.

Of the 261 million shares He Zuxun holds in the company, 30%, or 78.305 million shares, will belong to Luo Wanyu. The two parties signed a concerted action agreement and will jointly comply with regulations regarding share reductions by controlling shareholders and actual controllers.

The company's actual controller has not changed, and there is no major impact on production and operations. Public information shows that Shennong Group is currently the largest pig farming enterprise in Yunnan, with its predecessor being Shennong Feed founded by He Zuxun.

As of the end of the second quarter, He Zuxun was the largest shareholder of Shennong Group, holding 261 million shares, accounting for 49.74% of the total share capital. Based on today's closing price of 30.43 yuan per share, the 78.305 million shares divided in this settlement are worth approximately 2.383 billion yuan.

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