Tongda Shares announced on the evening of September 30 that, due to changes in conditions related to the share transfer and failure to reach agreement after multiple rounds of negotiation, the company's controlling shareholder Weifang Municipal Financial Holding Group and its largest shareholder Shandong Tongda Group decided to terminate the share transfer and control change. Under the original transaction plan, Weifang Financial Holding intended to transfer 8.88 million shares, representing 10.00% of total share capital, to Qingdao Zhuoyue Mingliang New Materials Technology Partnership at 31.00 yuan per share; Tongda Group intended to transfer 8.88 million shares, also 10.00% of total share capital, to Qingdao Zhuoyue Mingliang at 28.00 yuan per share, totaling 20.00% of shares. Upon completion, the controlling shareholder would have changed to Qingdao Zhuoyue Mingliang and the actual controller to Bai Yibo. On the same day, Tongda Group also planned to transfer 7.5342 million shares, representing 8.4844% of total share capital, to Jinan Baoxin Investment Partnership at 35.344 yuan per share. On January 6, 2026, Weifang Financial Holding received approval from the Weifang Municipal Finance Bureau. On April 1, 2026, Tongda Group and Qingdao Zhuoyue Mingliang signed a supplementary agreement adjusting the per-share transfer price from 28.00 yuan to 28.10 yuan. As of September 30, the above agreed share transfers had not yet completed registration, and the parties' shareholdings remained unchanged. The company's controlling shareholder remained Weifang Financial Holding, and the actual controller remained the Weifang Municipal Government Investment and Financing Management Center. Tongda Shares' 2026 semi-annual report showed first-half operating revenue of 168 million yuan, down 13.98% year on year, and net profit attributable to shareholders of the listed company of 4.3924 million yuan, down 47.62% year on year.
Shandong Tongda Island New Materials Co LtdTermination of the 20% stake transfer and control change leaves ownership/control structure unchanged, removing a potential M&A catalyst.
