Billion-Yuan A-Share Firm Discloses Founder's Divorce Lawsuit

Deep News
Sep 23

Shennong Group revealed on the evening of September 23 that it had received notice from its controlling shareholder and actual controller, He Zuxun, regarding a divorce dispute lawsuit filed by Luo Wanyu against him. The case has been accepted by the Guandu District People's Court in Kunming, where the plaintiff has requested the court to dissolve the marriage and divide the marital property.

According to the announcement, as of the disclosure date, both parties have agreed to proceed with mediation under the court's guidance. He Zuxun currently directly holds 261 million shares of the company, representing 49.6% of the total shares, while Luo Wanyu does not hold any shares in the company.

Market data shows that as of the close on September 23, Shennong Group's share price edged down 1.55% to 33.6 yuan per share, giving the company a total market capitalization of 17.68 billion yuan. Based on the closing price that day, the market value of He Zuxun's shareholding was approximately 8.77 billion yuan.

Shennong Group stated that as of the announcement date, the lawsuit only involves the controlling shareholder's and actual controller's personal equity interests in the company and is unrelated to the company's production and operations, with no material impact on its business activities.

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