Longbai Group Core Personnel Increase Shareholding!

On June 5th, Longbai Group, a leading titanium dioxide manufacturer, announced that its controlling shareholder, some directors, executives, and key employees have declared a plan to increase their holdings, with a total intended investment of no less than 45 million yuan, demonstrating confidence in the company's long-term development.

The shareholding increase will be carried out by a total of seven parties, who will complete the increase through centralized bidding within six months from the date of the announcement. No price range will be set for the plan, and the parties will choose the timing of the increase based on the share price. If the company’s shares are suspended from trading, the implementation period for the increase will be extended accordingly.

The allocation of the proposed share purchase amounts among personnel has been clearly defined: Xu Ran, the company’s actual controller and chairman, plans to increase holdings by no less than RMB 30 million; Wu Pengsen, director and president, Zhang Gang, Party secretary and director, Chen Jianli, vice president of R&D, Wang Xudong, board secretary, and Sun Liang, vice president of engineering technology, each plan to increase holdings by no less than RMB 2 million; Zhang Haitao, deputy Party secretary, plans to increase holdings by no less than RMB 5 million.

The announcement shows that Xu Ran directly holds 20.97% of the company's shares and, together with the shares for which voting rights have been entrusted to her, controls a total of 26.28% of the company's total share capital, making her the company's absolute controlling shareholder. The entity increasing its holdings has not disclosed any shareholding increase plan in the past 12 months, nor has it engaged in any shareholding reduction in the past 6 months.

The company stated that this increase in holdings will not change the status of the controlling shareholder and actual controller, nor will it affect the company's listing conditions.

On April 15, Longbai Group held a meeting, and 90s-born Xu Ran was elected as the new chairman. Xu Ran is the daughter of the late founder Xu Gang.