On the evening of December 23, Shenzhen Eurasia Communication Electronics Co., Ltd. (Eurasia Communication) announced that one of the actual controlling shareholders has agreed to divorce. Based on the current market price of the company, stocks worth 400 million yuan will be transferred to the woman. A shares witnessed another high-profile divorce case.
In the announcement titled “Notice on Planned Changes in the Ownership Structure of Controlling Shareholders” on December 23, Eurasia Communication stated that they have recently received notification from Ms. Shang Yunsisi, one of the actual controlling shareholders, informing about her divorce agreement with Mr. Wang Yuetian, another actual controlling shareholder. They have divided the shares held in Nanjing Wang Yuetian Wang Entrepreneurship Investment Partnership Enterprise (Limited Partnership) (Wang Yuetian Wang). Mr. Wang Yuetian, the actual controlling shareholder, plans to transfer 12.04775% of the shares of Wang Yuetian Wang to Ms. Shang Yunsisi.
The announcement also stated, “The total number of shares, share percentage, and voting rights held by the company’s controlling shareholders and actual controllers have not changed, and there has been no change in the company’s ownership structure and continuous operation.”
According to a report by “Daily Economic News” on December 24, during the trading day on December 23, Eurasia Communication’s stock price hit a record high. As of the closing of December 23, the total market value of Eurasia Communication was 11.536 billion yuan. Calculated from this, the market value corresponding to the 12.04775% shares received by Shang Yunsisi in Wang Yuetian Wang amounts to 401.5 million yuan.
Information shows that Eurasia Communication was established on May 29, 1996, primarily engaged in the research, production, and sale of switching power products. Its main products include power adapters and server power supplies, used in office electronics, set-top boxes, security, and other fields.
In the first three quarters of 2024, Eurasia Communication achieved a revenue of 2.664 billion yuan and a net profit attributable to the parent company of 157 million yuan. Eurasia Communication’s stock price has been on the rise since the end of September. According to Choice statistics, from September 24 to December 23, in a span of 60 trading days, the stock price increased from 38.65 yuan per share to a peak of 122.3 yuan per share, closing at 113.99 yuan per share on December 23, representing a 194.91% increase.
News of the divorce of Eurasia Communication’s actual controller sparked discussions among investors in the stock forum. Some investors commented, “divorce at its peak,” “ready to sell off,” “playing tricks again, divorcing to sell the company.”
Public records show that from May 2015 to September 2017, Shang Yunsisi served as the chairman’s assistant; from October 2017 to August 2024, she was the secretary of the board of directors. In August of this year, Shang Yunsisi submitted her resignation as Vice President and Secretary of the Board. Wang Yuetian, born in May 1989, has been a director of the company since September 2017.
As of 11:30 on December 24, Eurasia Communication reported a price of 105.60 yuan per share, a decrease of 7.36%, with a total market value of 10.687 billion yuan.
In the Chinese stock market, cases of high-priced divorces involving company controllers are not uncommon. On July 24 of this year, Time and Space Technology announced that a significant shareholder had divorced, with the value of the divided shares exceeding 50 million yuan. On July 12, Shanghai Hugong announced that the husband and wife controlling shareholders had recently reached a divorce lawsuit settlement. The wife would receive stocks worth over 500 million yuan.