A-shares has seen yet another "sky-high divorce."
On the evening of November 3, Shennong Group announced that it had recently received notice from the company's controlling shareholder and actual controller, He Zuxun, learning that He Zuxun and Luo Wanyu had recently completed procedures to dissolve their marriage and had made relevant arrangements for the division of property.
According to a civil mediation document issued by the Guandu District People's Court of Kunming City, He Zuxun will transfer 30% of the 261 million Shennong Group shares he directly holds (that is, 78.305 million shares) and all corresponding rights and interests (including but not limited to new shares generated from dividends, bonus shares, capitalization of capital reserves, rights issues and other share changes) to Luo Wanyu as her sole property.
Within 30 days from the date of receiving the civil mediation document, He Zuxun shall cooperate with Luo Wanyu to complete the registration procedures for the transfer of the relevant shares.
After this equity change, He Zuxun will directly hold 34.72% of Shennong Group, while Luo Wanyu will directly hold 14.88%.
Shennong Group stressed that this equity change does not trigger a tender offer, will not cause a change in the company's controlling shareholder or actual controller, and does not involve a change in control of the company.
In addition, Shennong Group stated that He Zuxun and Luo Wanyu signed a concerted action agreement, establishing a relationship as persons acting in concert. After this equity change, both parties will continue to jointly comply with the requirements of relevant share reduction rules.
Previous announcements by Shennong Group showed that in September 2026, Luo Wanyu filed a lawsuit with the Guandu District People's Court of Kunming City for personal reasons, requesting a judgment to dissolve her marriage with He Zuxun and to divide their property. In October 2026, Shennong Group announced that, under the court's auspices, He Zuxun and Luo Wanyu reached a mediation agreement, and both parties voluntarily dissolved their marriage.
It is understood that Shennong Group was founded in 1999 and is a national key leading enterprise in agricultural industrialization integrating feed production, hog farming, slaughtering and processing, and deep food processing. In 2021, the company was listed on the main board of the Shanghai Stock Exchange, becoming the first listed agricultural and livestock enterprise in Yunnan Province.
As of the close on November 3, Shennong Group shares were quoted at 31.7 yuan per share, surging 6.38% that day. Based on this calculation, the 78.305 million shares obtained by Luo Wanyu are worth 2.482 billion yuan.
In terms of performance, Shennong Group achieved operating revenue of 4.119 billion yuan in the first three quarters, up 5.00% year on year; net profit attributable to shareholders of the listed company was -971 million yuan, down 310.42% year on year. Among this, third-quarter revenue alone was 1.630 billion yuan, up 44.79% year on year; net profit attributable to the parent company was -162 million yuan, down 319.19% year on year.
Public information shows that He Zuxun was born in 1965, holds a bachelor's degree in veterinary medicine from South China Agricultural University, is a senior livestock engineer, and is the founder, controlling shareholder and actual controller of Shennong Group, currently serving as the company's chairman and general manager. He Zuxun has worked in the hog industry chain for more than 20 years and built Shennong Group into the only listed company in Yunnan Province's livestock industry. In October 2026, the "2026 Hurun Rich List" was released, and He Zuxun ranked 965th with wealth of 8 billion yuan.
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