The high-profile divorce case involving the controlling shareholder and chairman of Digital China Group Co.,Ltd. (SHE: 000034), Guo Wei, has reached a new stage.
Digital China Group Co.,Ltd. announced that the Beijing First Intermediate People's Court has issued a final judgment on the divorce case between controlling shareholder Guo Wei and Guo Zhengli, dismissing the appeal and upholding the original verdict, thereby formally dissolving their marriage.
Once considered a model "power couple" in the tech industry, their relationship had reportedly deteriorated in recent years. In early 2025, due to this marital dispute, 77.39 million shares of Digital China Group Co.,Ltd. held by Guo Wei were judicially frozen, representing 50% of his holdings and 11.56% of the company's total shares. Based on the share price of 43.86 yuan at the time, the frozen stake was valued at approximately 3.394 billion yuan. In February of this year, the company issued another announcement stating that all 155 million Digital China Group Co.,Ltd. shares held by Guo Wei had been judicially frozen, with a corresponding value exceeding 5.8 billion yuan.
When asked about the potential impact of this "divorce case" on the company's profits and operations, a representative from the investor relations department stated, "No, because his (Guo Wei's) divorce is a personal matter. The company and he are completely separate in terms of assets and other aspects, so the related changes have no bearing on the company."
However, the division of assets involving billions in equity has not yet been finalized. Regarding the market's primary concern about the listed company's control, the representative added, "We must wait for the court's final judgment on his (Guo Wei's) asset division to be settled. Once we receive it, we will issue an announcement immediately."
**Final Judgment in High-Value Divorce Case, Company Responds**
This divorce case dates back to the beginning of 2025.
On January 27, 2025, Digital China Group Co.,Ltd. announced that due to Guo Wei's marital dispute, 77.39 million shares he held were frozen by the Haidian District People's Court in Beijing; these shares represented 50% of his holdings and 11.56% of the company's total share capital, with the freeze expiring on January 21, 2028. Based on the share price of 43.86 yuan that day, the frozen stake was valued at approximately 3.394 billion yuan.
In this lawsuit, Guo Wei was the plaintiff and Guo Zhengli the defendant. He filed a lawsuit with the Haidian District People's Court in Beijing, requesting a divorce and asset division. On October 10, 2025, the company disclosed that the Haidian District People's Court had issued a first-instance judgment in the marital dispute case between Guo Wei and Guo Zhengli: Guo Wei and Guo Zhengli were divorced. Matters concerning asset division would continue to be tried and adjudicated separately by the Haidian District People's Court.
On February 12, 2026, the company announced again that all 155 million Digital China Group Co.,Ltd. shares held by Guo Wei had been judicially frozen, with a corresponding value exceeding 5.8 billion yuan.
The announcement emphasized, "Currently, Mr. Guo Wei remains the controlling shareholder of the company. If the frozen shares are subsequently disposed of, there is a risk that the company's controlling shareholder may change. The relevant parties are actively negotiating and communicating to seek solutions and will properly handle this share freeze. As of the date of this announcement, this judicial freeze has not caused a change in the company's control, has not impacted the company's production, operations, and governance structure, and does not involve performance compensation obligations."
On May 30, 2026, Digital China Group Co.,Ltd. announced that the Beijing First Intermediate People's Court had issued a final judgment on the divorce case between controlling shareholder Guo Wei and Guo Zhengli, dismissing the appeal and upholding the original verdict, thereby formally dissolving their marriage.
Digital China Group Co.,Ltd. stated in the announcement, "Regarding asset division matters, the Haidian District People's Court in Beijing will continue the trial and issue a judgment after ascertaining the facts. The final outcome of the litigation cannot be estimated at present, and whether the company's actual control changes remains uncertain. The company and its controlling shareholder and actual controller are completely separate in terms of assets and other aspects, possessing independent and complete assets, business, and autonomous operation capabilities. This litigation only involves the personal shareholder rights of the controlling shareholder and actual controller in the company and will not have a significant impact on the company's profits and production and operation situation."
When discussing the impact of this "divorce case" on the company, the investor relations department of Digital China Group Co.,Ltd. stated, "There will be no (impact) because his (Guo Wei's) divorce is a personal matter. The company and he are completely separate in terms of assets and other aspects, so the related changes have no bearing on the company."
However, the division of assets involving billions in equity has not yet been finalized, and all 155 million Digital China Group Co.,Ltd. shares held by Guo Wei remain judicially frozen. The final judgment result may directly affect the ownership of the listed company's control. A staff member stated plainly, "This is actually written in the announcement. It is indeed possible, but we must wait for the court's final judgment on his (Guo Wei's) asset division. Only after that judgment comes out can this matter be settled. The proportion held by Guo Wei himself may change, but it does not affect the company's governance and other situations."
Regarding the market's most pressing concerns about the listed company's control and further developments in this matter, the staff member responded, "We still have to wait for the court's final judgment on his (Guo Wei's) asset division. Once we receive it, we will issue an announcement immediately. Currently, we do not have more information."
**Once Recognized as the "Best Partners" in Tech**
Digital China Group Co.,Ltd. Chairman Guo Wei and his ex-wife Guo Zhengli were once recognized as the "best partners" in the tech circle. Both were industry elites who worked side by side for many years. However, their divorce case and related corporate governance changes have now thrust Digital China Group Co.,Ltd. into the spotlight of public opinion.
Information shows that Guo Wei, male, born in 1963, graduated from the University of Science and Technology of China. He joined Lenovo Group in 1988, holding positions such as General Manager of the Public Relations Department, Assistant President, and Senior Vice President. After the split of Lenovo Group in 2000, Guo Wei led the Digital China team to start a second venture. In June 2001, Digital China Holdings successfully listed on the Hong Kong Stock Exchange. In 2016, Digital China Holdings injected its IT distribution business into Shenzhen Tellus Holding Co.,Ltd., achieving a backdoor listing on the A-share market.
Guo Zhengli graduated from Brown University in the United States with a Bachelor's and Master's degree in Electrical Engineering, and also holds an MBA in "International Business and Marketing." She previously served as a senior executive in the Asia-Pacific region for Intel and Microsoft. At the end of 2017, she assumed the role of Chief Operating Officer at Digital China Holdings, leading the Changchun New District City Digital Intelligence Supply Chain Service Platform construction project.
However, their relationship showed signs of strain in 2024. According to previous media reports, Guo Zhengli was removed from her position via email in the employee system in September 2024, a decision that was not reviewed by the board of directors. In November of the same year, Digital China Holdings announced new personnel appointments, replacing most of the original core department heads in technology, operations, finance, and human resources with an executive team directly controlled by Guo Wei from Digital China Group Co.,Ltd. and Digital China Information Service Co.,Ltd. This series of adjustments sparked widespread speculation about a "separation of spousal power."
**Management "Exodus" as Annual Net Profit Plunges 30%**
Almost simultaneously, Digital China Group Co.,Ltd. itself became embroiled in a whirlwind of frequent executive changes, described by some media as a management "exodus."
In April 2025, Ye Haiqiang resigned from his positions as director, vice chairman, and member of board committees at Digital China Group Co.,Ltd. due to overall company work arrangements; in July 2025, Peng Long was unable to perform his duties normally due to being under investigation, and Digital China Group Co.,Ltd. removed him from his position as independent director and all his roles on board committees; in August 2025, Lü Jing resigned from his position as vice president of Digital China Group Co.,Ltd. for personal reasons; in September 2025, Ling Zhenwen resigned from his positions as independent director and member of board committees after serving consecutively as an independent director for six years.
Entering 2026, executive turmoil has not ceased. On March 30, Digital China Group Co.,Ltd. disclosed its 2025 annual report and announced personnel changes. The company's board received the resignation application of CFO Chen Ping, who applied to resign from the position of CFO for personal reasons. Additionally, Wang Bingfeng resigned from the position of CEO, succeeded by Li Ying.
Against the backdrop of internal governance crises, the company's performance challenges have become increasingly prominent.
According to the 2025 annual report disclosed by Digital China Group Co.,Ltd., the company achieved revenue of 143.751 billion yuan, a year-on-year increase of 12.16%; net profit attributable to shareholders was 523 million yuan, a year-on-year decrease of 30.52%, falling into a typical predicament of "increased revenue without increased profit."
In terms of business, Digital China Group Co.,Ltd.'s own-brand product business grew rapidly, with revenue of 7.44 billion yuan, a year-on-year increase of 62.4%; post-tax net profit was 77.536 million yuan, a year-on-year increase of 9.7%. The company accelerated its diversified AI layout, with AI-related business revenue reaching 33.03 billion yuan, a year-on-year increase of 47.7%.
Regarding cash flow, the company's net operating cash flow turned negative in 2025, at -2.426 billion yuan, a sharp year-on-year decrease of 196.85%. Digital China Group Co.,Ltd. attributed this mainly to increased procurement and inventory. Market demand for computing equipment, chips, storage, and other IT products was strong, and the company concentrated procurement of raw materials and inventory based on major orders for its own-brand products and sales needs for chips, storage, and other IT products. This inventory preparation was highly aligned with project scale, delivery schedule requirements, market demand, and price fluctuations of related components, in line with the company's business needs.
Furthermore, the 2025 annual report shows that the total remuneration for the company's directors, supervisors, and senior management in 2025 was 248.101 million yuan, a decrease of 20.005 million yuan from 268.106 million yuan in 2024, a year-on-year decline of 7.46%. Chairman Guo Wei's total pre-tax remuneration from the company in 2025 was 6.1718 million yuan, a decrease of 176,000 yuan from 6.3478 million yuan in 2024, a year-on-year decline of 2.77%.
On one side, there is governance turmoil triggered by frequent executive changes and the controlling shareholder's divorce; on the other, there is financial pressure from revenue growth coupled with profit decline and a sharp drop in operating cash flow. Whether Digital China Group Co.,Ltd. can navigate out of this predicament marked by "internal and external troubles" remains an open question.
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