Shanghai Yahong's controlling shareholder Ningsheng Group, along with shareholders Xie Yaming and Xie Yue holding more than 5% of shares, signed a share transfer agreement with Feike Investment, agreeing to transfer a combined 29.99% stake in the company at 21.43 yuan per share for a total price of 900 million yuan. Feike Investment will become the company's controlling shareholder, and Li Gaiteng, founder of Feike Electric, will become the company's actual controller. Subject to completion of the above agreement transfer, Feike Investment plans to launch a partial tender offer for 10.21% of the company's shares at 21.43 yuan per share. Trading in the company's shares will resume on September 17, 2026. This is the second time this year that Shanghai Yahong has planned a change of control. In June this year, the company disclosed a planned change of control and suspended trading, but the deal collapsed a week later after the counterparty failed to reach agreement internally on certain specific details. Shanghai Yahong is mainly engaged in precision mold research and development, injection molding production, SMT product assembly, and manufacturing of smart toilets and other products. In 2025, the company posted its first net loss since listing. In the first half of 2026, revenue was 174 million yuan, down 14.3% year on year, while net profit attributable to the parent company swung from a loss of 1.81 million yuan in the same period last year to a loss of 3.79 million yuan. Feike Investment is the controlling shareholder of Feike Electric, known as the domestic king of electric shavers. Li Gaiteng, from Wenzhou, Zhejiang, founded Feike Electric in 1999. In January 2020, Hurun Research Institute's 2019 Hurun China 500 Most Valuable Private Companies ranked Feike Electric 443rd with a market value of 16 billion yuan.
Shanghai Yahong Moulding Co LtdFeike Investment will acquire a 29.99% stake for 900 million yuan and launch a partial tender offer, making it the controlling shareholder of Shanghai Yahong.
