On November 7th, Jiangxi Shanshui Technology Co., Ltd. (Shanshui Technology) announced that the actual controller and his wife have divorced. His ex-wife received approximately 924 million yuan worth of shares and became the actual controller of the company.
In the announcement titled “Notice of Proposed Changes in Controlling Shareholders, Actual Controllers, and Shareholders’ Equity Changes” released by Shanshui Technology on the evening of the 7th, it stated that they had received notification from the actual controller of the company. It was revealed that Mr. Huang Guorong and Ms. Wu Xinyan had dissolved their marriage under court mediation and made arrangements regarding the division of shares. 10 million shares directly held by Huang Guorong were transferred to Wu Xinyan’s name, and part of the indirectly held shares by Huang Guorong were also transferred to Wu Xinyan.
After the equity split, Wu Xinyan is expected to receive a total of 37.9 million shares of the company. On November 7th, Shanshui Technology closed at 24.38 yuan per share. Based on this calculation, the value of the shares the wife will receive is approximately 924 million yuan.
Prior to this equity change, Huang Guorong and Wu Xinyan collectively held 98.79 million shares of the company directly and indirectly, accounting for approximately 46.03% of the total shares. They were the joint actual controllers of the company, with Huang Guorong being the controlling shareholder of the company.
After the equity change, Huang Guorong holds a total of 30.22 million shares of the company directly and indirectly, accounting for approximately 14.08% of the total shares; while Wu Xinyan holds a total of 68.56 million shares of the company directly and indirectly, representing 31.95% of the total shares. Wu Xinyan has become the actual controller and controlling shareholder of the company.
Public records show that Wu Xinyan was born in 1982 and holds a college degree. From 2012 to 2016, she served as a supervisor and deputy manager of the procurement department of Jiangxi Shanshui Technology Co., Ltd.; since December 2016, she has been a director of Shanshui Technology; and has been in charge of the comprehensive center of Shanshui Technology since 2017.
In a previous market announcement following the October 20th closing, Shanshui Technology stated that on October 19th, they received a notification from the family of the actual controller, chairman, and general manager, Huang Guorong, stating that he was subject to criminal coercive measures for personal reasons.
When interviewed by the media, Shanshui Technology staff stated that they were “unaware” of the specific reasons behind Huang Guorong’s being subjected to criminal coercive measures and would need to inquire with the local public security authorities.
Shanshui Technology was established in 2012, primarily engaged in the research, production, and sales of dye intermediates, pesticides, and pharmaceutical intermediates. The company went public on the ChiNext board in 2021.
Financial reports indicate that in the first half of 2025, Shanshui Technology achieved operating income of 305 million yuan, an increase of 23.08% year-on-year, and a net profit attributable to shareholders of 47.7767 million yuan, a decrease of 11.77% year-on-year.
On November 7th, Shanshui Technology’s stock fell by 0.49%, closing at 24.38 yuan per share, with a total market value of 5.2 billion yuan.