Changxin Technology Maintains No Actual Controller Structure After IPO

Changxin Technology's Vice President Yuan Yuan stated that the company's equity structure will further diversify after its IPO, with no single shareholder holding more than 30% of the shares among the top five shareholders, and no shareholder holding more than 50%. The company has established a modern corporate governance structure, with a board of directors consisting of 11 members, including 4 independent directors and 7 non-independent directors. The nominating parties for the non-independent directors include Qinghui Changxin, Changxin Integrated, the Second Phase of the Big Fund, Hefei Jixin, Anhui Investment, and employee directors. No shareholder can determine the election of more than half of the board members through actual control of voting rights. Therefore, the company is expected to maintain a relatively decentralized board nomination structure after going public. As a result, Changxin Technology will continue to uphold a control structure without an actual controller after its IPO.