The majority shareholder of Bioperfectus Technologies, Shaoxing Runkang Biomedical Equity Investment Partnership, has been sued for dissolution by limited partner Liang Xilin, potentially triggering another change in company control. Previously, on July 29, the original actual controllers Fang Yongsheng, Liang Xilin, and Wang Guoqiang terminated their decade-long concerted action agreement, reducing the actual controllers from three to just Fang Yongsheng. The combined stake of the majority shareholder and its concerted parties fell from 40.97 percent to 32.24 percent. Liang Xilin holds a 71.88 percent share in Runkang Biomedical and filed the lawsuit on the grounds that the partnership's purpose cannot be achieved. If the court supports the dissolution request, it could lead to another change in the company's majority shareholder and actual controller. Affected by the unstable control situation and a broader market decline, Bioperfectus Technologies shares plunged on July 30, dropping more than 9 percent intraday to hit a new phase low. The company stated that all business operations are proceeding normally and the lawsuit has not yet adversely affected profits.
Jiangsu Bioperfectus Technologies Co LtdMajority shareholder sued for dissolution, risking another control change and causing stock plunge.