60-Year-Old Chairman Dies, Underage Daughter Inherits 900 Million Yuan in Stock, Wife Becomes De Facto Controller of Multi-Billion Yuan A-Share Company

Red Star Capital Bureau, March 21 — Last night, Dabeinong (002385.SZ) issued a warning announcement regarding changes in controlling shareholders, actual controllers, and equity interests. The company’s former actual controller and chairman, Shao Genhuo, passed away due to illness on February 3, 2026. Before his death, Shao Genhuo directly held 928 million shares of the company, accounting for 21.58% of the total share capital.

Shao Genhuo, according to official website

Shao Genhuo did not leave a will nor sign any inheritance or support agreement. Half of his estate (i.e., 460 million shares of Dabeinong) was inherited jointly by his spouse, Ms. Mo Yun, and his minor daughter, Shao Moumou. Based on the division of joint property and inheritance law, Ms. Mo Yun inherited 696 million shares, accounting for 16.18% of the total share capital, and minor daughter Shao Moumou inherited 232 million shares, accounting for 5.39%.

Since Shao Moumou is a minor, her mother, Ms. Mo Yun, is her legal guardian. Therefore, all rights associated with the inherited shares, including (but not limited to) voting rights, nomination rights, proposal rights, and voting rights, are exercised by her legal guardian, Ms. Mo Yun, in accordance with the law.

Additionally, the announcement states that, as the legal guardian of minor daughter Shao Moumou, Ms. Mo Yun exercises the rights to the shares held by Shao Moumou. Ms. Mo Yun holds a total of 928 million voting rights shares, representing 21.58% of the company’s voting shares, sufficient to significantly influence the company’s shareholders’ meeting resolutions. Therefore, after this change in equity interests, the company’s controlling shareholder and actual controller will be Ms. Mo Yun.

As of Friday’s close, Dabeinong’s stock price was 4.08 yuan per share, with a market value of 17.5 billion yuan. Based on this, the value of the 232 million shares inherited by Shao Moumou is approximately 946 million yuan.

Previously, on February 4, Dabeinong announced that its actual controller and chairman, Shao Genhuo, passed away due to illness on February 3, 2026, at the age of 60.

Public information shows that Shao Genhuo was born in 1965 in a rural area of Jinhua, Zhejiang. He graduated from China Agricultural University and was China’s first doctoral graduate in pig nutrition. After graduation, he taught at Beijing Agricultural College. At the end of 1993, Shao Genhuo resigned from Beijing Agricultural College to start his own business. With just two people, 20,000 yuan, and two rooms, he founded Dabeinong.

Under Shao Genhuo’s leadership, Dabeinong Group has developed over more than 30 years into one of China’s leading agricultural and animal husbandry enterprises. Currently, Shao Genhuo holds 21.58% of Dabeinong’s shares, making him the company’s actual controller.

On January 30 of this year, Dabeinong released its performance forecast, estimating a net profit attributable to shareholders of listed companies for 2025 of a loss between 450 million and 580 million yuan, compared to a profit of 346 million yuan in the same period last year, marking a shift from profit to loss.

During the reporting period, due to low pig market prices and underperformance of invested units, the estimated realizable net value or recoverable amount of year-end breeding pigs, long-term equity investments, and goodwill was lower than their book value. Based on prudence, Dabeinong has provisioned for impairment losses on these assets, estimated to impact the company’s profit and loss by 600 to 700 million yuan.

(This article does not constitute any investment advice. Please operate at your own risk.)

Editor: Yang Cheng, Xiao Shiqing. Compilation from 21st Century Business Herald, Jiemian News, Daily Economic News, and public information