Ningbo Shanshan (600884.SH) may see a change in its controlling shareholder to Wanwei Group.

Ningbo Shanshan (600884.SH) announced that the company's controlling shareholder Shanshan Group Co., Ltd. and its wholly-owned subsidiary Ningbo Pengze Trading Co., Ltd. (referred to as the "debtors" together with Shanshan Group), Shanshan Group's administrator and restructuring investor Anhui Wanwei Group Co., Ltd. ("Wanwei Group") and Ningbo Financial Asset Management Co., Ltd. ("Ningbo Jinzi") have signed the "Restructuring Investment Agreement between Shanshan Group Co., Ltd., Ningbo Pengze Trading Co., Ltd., Shanshan Group's Administrator, Anhui Wanwei Group Co., Ltd., and Ningbo Financial Asset Management Co., Ltd." If the restructuring is successful, the company's control will change, with Wanwei Group becoming the new controlling shareholder and the actual controller of the company changing to the State-owned Assets Supervision and Administration Commission of the People's Government of Anhui Province.