Xusheng Group announced that Xu Xudong, Chen Xingfang and their co-actors Hong Kong Xuri Industrial Co., Ltd. and Ningbo Meishan Bonded Port Area Xusheng Holdings Co., Ltd. hold a total of 313 million shares in the company, with a shareholding ratio of 27.0455%. On December 22, 2025, Xu Xudong, Chen Xingfang, Xusheng Holdings and Xuri Industrial signed a “Control Acquisition Agreement” and “Share Transfer Agreement” with Guangzhou Industrial Investment Holding Group Co., Ltd. and their co-actors Guangzhou Industrial Control Auto Parts Group Co., Ltd. According to the agreement, Guangzhou Industrial Control Auto Parts Group Co., Ltd. transferred 100% of the shares of Xusheng Holdings held by Xu Xudong and Chen Xingfang through an agreement transfer, as well as 57.8 million unrestricted tradable shares of listed companies held by Xuri Industrial and Xu Xudong in total. The transfer price was RMB 794 million, and the transfer price per share was RMB 13.74 million. After the transaction was completed, Guangzhou Industrial Control Group and its co-actors directly and indirectly controlled 313 million shares of the listed company, accounting for 27.0455% of the total share capital of the listed company. The actual controller of the company was changed to the Guangzhou Municipal People's Government.

Xusheng Group announced that Xu Xudong, Chen Xingfang and their co-actors Hong Kong Xuri Industrial Co., Ltd. and Ningbo Meishan Bonded Port Area Xusheng Holdings Co., Ltd. hold a total of 313 million shares in the company, with a shareholding ratio of 27.0455%. On December 22, 2025, Xu Xudong, Chen Xingfang, Xusheng Holdings and Xuri Industrial signed a “Control Acquisition Agreement” and “Share Transfer Agreement” with Guangzhou Industrial Investment Holding Group Co., Ltd. and their co-actors Guangzhou Industrial Control Auto Parts Group Co., Ltd. According to the agreement, Guangzhou Industrial Control Auto Parts Group Co., Ltd. transferred 100% of the shares of Xusheng Holdings held by Xu Xudong and Chen Xingfang through an agreement transfer, as well as 57.8 million unrestricted tradable shares of listed companies held by Xuri Industrial and Xu Xudong in total. The transfer price was RMB 794 million, and the transfer price per share was RMB 13.74 million. After the transaction was completed, Guangzhou Industrial Control Group and its co-actors directly and indirectly controlled 313 million shares of the listed company, accounting for 27.0455% of the total share capital of the listed company. The actual controller of the company was changed to the Guangzhou Municipal People's Government.