Financial联社 October 14th news (Reporter Fu Jing) Two months after the original actual controller 'exit' due to private lending disputes, Guangdong Qunxing Toys (002575.SZ) announced tonight that the controlling shareholder and the actual controller are planned to change. It is worth noting that the Tibet Boxin Technology Development Co., Ltd. held by the company's chairman Zhang Jincheng may become the new controlling shareholder of the company. However, as of now, no actual business operations have been carried out, appearing quite mysterious.

Guangdong Qunxing Toys announced that it plans to issue no less than 0.105 billion shares and no more than 0.178 billion shares to specific targets, with a total fundraising amount of no less than 0.419 billion yuan and no more than 0.71 billion yuan. Chairman Zhang Jincheng plans to subscribe to the company's shares issued this time through Tibet Boxin in cash. After this issuance, the controlling shareholder will change to Tibet Boxin, and the actual controller will change to Zhang Jincheng.

It is reported that Guangdong Qunxing Toys signed a share subscription agreement with Tibet Boxin on the 14th. According to the upper limit of the issuance quantity calculation, after this issuance, Zhang Jincheng directly and indirectly controls the company's voting rights ratio by 23.77%; according to the lower limit of the issuance quantity calculation, after this issuance, Zhang Jincheng directly and indirectly controls the company's voting rights ratio by 16.33%.

Financial联社 reporters noted that as of now, Zhang Jincheng serves as the chairman and general manager of the listed company, and concurrently acts as the secretary of the board of directors (the company announced on September 29th that the secretary Chen Ting resigned from the secretary position due to work content adjustment).

It is worth noting that Zhang Jincheng directly holds 100% of Suzhou Boxin Enterprise Management Co., Ltd. (hereinafter referred to as 'Suzhou Boxin'), directly and indirectly holds 100% equity of Tibet Boxin (Zhang Jincheng, Suzhou Boxin respectively hold 1.00%, 99.00% of Tibet Boxin).

It is worth noting that Tibet Boxin was established in July 2023, registered in Lhasa, Tibet Autonomous Region, with a registered capital of 50 million yuan. However, as of now, both Tibet Boxin and Suzhou Boxin have not yet conducted actual business operations.

Guangdong Qunxing Toys stated that Tibet Boxin subscribing to this issuance of shares constitutes a related party transaction. This transaction is beneficial for stabilizing control and providing guarantee for future business development.

On the evening of August 14, the company previously announced that the 66.66% equity of Shenzhen Star River, a shareholder of the company held by the former controlling shareholder Wang Sanshou, had been transferred through judicial auction, resulting in the company becoming a state without controlling shareholders or actual controllers. An announcement on the evening of June 2 by the company stated that Wang Sanshou is assisting the Beijing Public Security Bureau in an investigation; due to Wang Sanshou's private lending disputes, the 66.66% equity of Shenzhen Star River held by him will be auctioned judicially.

In addition, Guangdong Qunxing Toys Joint-Stock believes that this issuance will also alleviate the need for operating funds and technology leasing business capital, optimize capital structure, and enhance risk resistance.

It is worth noting that Zhang Jincheng is also the executive director and general manager of Hangzhou Turing Engine Technology Co., Ltd., a wholly-owned subsidiary of Guangdong Qunxing Toys dedicated to smart technology leasing services. According to the latest research summary released by the company: In terms of smart technology business, the company is currently in discussions with potential customers. In fact, the company admitted in its semi-annual performance disclosure that in the first half of the year, launching smart technology business and building a professional team incurred significant operating costs.