Zhejiang Meida Industrial Co Ltd

China's home furnishing industry is witnessing a rare wave of control changes among its former 'first stocks', as Markor Home Furnishings, Zhejiang Meida, and Youbang Ceiling have each sought or completed a change of ownership. Markor Home Furnishings has entered pre-restructuring and brought in 1.072 billion yuan in restructuring investment, with lead investor Xiaoci Investment planning to pay 541 million yuan to subscribe for 368 million shares and obtain 51 percent equity in the restructured Markor Group, thereby achieving direct and indirect control of Markor Home Furnishings. At Zhejiang Meida, controlling shareholders Xia Zhisheng and his son Xia Ding plan to transfer a 29.99 percent stake at 6.656 yuan per share, for a total transaction value of about 1.29 billion yuan. The buyer, Shenzhen Xinglan Tu, is ultimately controlled by Zhang Haizheng, a cross-border e-commerce entrepreneur. Youbang Ceiling has already completed its control change, with former actual controllers Shi Shenxiang and his wife Luo Lianqin transferring a 29.99 percent stake at 29.41 yuan per share for a total consideration of about 1.142 billion yuan. The controlling shareholder has changed to Mingsheng Intelligent, and the actual controller has changed to Shi Qiming. All three companies have seen sharp declines in performance. Markor Home Furnishings posted a huge loss of 2.104 billion yuan in 2025 and expects to lose another 350 million to 450 million yuan in the first half of this year. Zhejiang Meida's net profit in 2025 was only 11.54 million yuan, down more than 90 percent from its peak of 665 million yuan in 2021. Youbang Ceiling's revenue in 2025 was only 498 million yuan, and it also expects a loss in the first half of this year. Industry insiders point out that the key to judging the purpose behind a control transaction lies in what the new controlling shareholder does after gaining control. If the buyer has low relevance to the original main business and holds other industrial assets of its own, the value of the listed company platform itself deserves to be re-examined.

Zhejiang Meida announced that controlling shareholder and actual controller Xia Zhisheng and Xia Ding are planning a major event that may lead to a change in company control. Trading in the company's shares has been suspended since July 10, expected to last no more than two trading days. Before the suspension, the stock hit three upper limits in five trading days, closing at the daily limit of 7.23 yuan on the announcement day, up 10.05 percent, with a total market value of 4.671 billion yuan. The counterparty in this transaction operates in the cross-border e-commerce industry, and the share transfer ratio is within 30 percent. The company's 2025 revenue shrank to just 454 million yuan, down about 80 percent from its 2021 peak, while net profit attributable to shareholders was 11.54 million yuan, a sharp year-on-year decline of 89.55 percent. Xia Zhisheng, Xia Ding, and Xia Lan together hold 52.41 percent of the shares, but management has gradually transitioned to professional managers, and the Xia family may further reduce its stake.

The State Council has issued the 15th Five-Year Carbon Peak Action Plan, proposing that by 2030, pumped-storage hydropower installed capacity will reach around 160 gigawatts, new-type energy storage installed capacity will strive to reach 300 gigawatts, the maximum regulation capacity of nationwide virtual power plants will exceed 50 gigawatts, and power demand response capability will reach over 5% of maximum electricity load. The plan also proposes that by 2030, the share of new energy vehicle ownership will strive to reach 30%, and the share of new energy commercial transport vehicles will reach 25%. Data released by the China Association of Automobile Manufacturers shows that in the first half of the year, new energy vehicle production and sales reached 7.438 million and 7.446 million units, up 6.7% and 7.3% year-on-year respectively. The China Securities Regulatory Commission has approved the registration of Shanghai Enflame Technology's initial public offering, and the company will list on the STAR Market. Zhejiang Meida announced plans for a change in control, and its shares will be suspended from trading starting on the 10th. Several companies released first-half performance forecasts, among which Sunwave Communications expects net profit to increase by 1,428.58% to 2,001.8% year-on-year, and GigaDevice expects net profit to increase by approximately 1,099% year-on-year.