Allgens Medical Technology has announced a change to a state of having no actual controller. On July 23, 83-year-old chairwoman Huang Wanlan issued a statement to the company confirming that the basis for jointly controlling the company with her daughter Cui Han and son-in-law Hu Gang no longer exists. From that point, the parties' voting rights are no longer in concert, and the voting rights actually exercisable by any single party are insufficient to materially influence shareholder meeting resolutions. Previously, Cui Han and Hu Gang had jointly submitted an interim proposal to remove Huang Wanlan from her director position and elect Hu Gang as a non-independent director. However, at the shareholder meeting on July 20, nearly 60 percent of shareholders opposed the removal, allowing Huang Wanlan to retain her director and chairwoman positions. After company founder Cui Fuzhai passed away in June 2025, the actual controller structure was adjusted to a trio of Huang Wanlan, Cui Han, and Hu Gang, who together controlled 20.48 percent of the company's voting rights. This statement marks a pause in the battle for control.
Allgens Medical Technology Co. Ltd. ACompany shifts to no-controlling-shareholder status after chairwoman ends concerted action pact, with ongoing boardroom battle paused.