Zhongli Group Bundle
Who Owns Zhongli Group Company?
Understanding a company's ownership is key to its strategic path and market impact. A significant ownership change in December 2024 saw the actual controller of Jiangsu Zhongli Group Co., Ltd. shift to a state-owned entity.
This transition marks a new chapter for the company, which began in 1988 as Changshu Tangshi Cable Works. It has since grown into a national high-tech enterprise with diverse operations, including power cables, optical fiber cables, and solar power development.
As of August 12, 2025, Jiangsu Zhongli Group Co., Ltd. holds a market capitalization of approximately $1.35 billion. The company's evolution highlights the importance of examining its ownership structure, including its role in sectors like the Zhongli Group PESTEL Analysis.
Who Founded Zhongli Group?
Jiangsu Zhongli Group Co., Ltd. began its journey on September 5, 1988, as Changshu Tangshi Cable Works in Jiangsu Province. Initially focused on cable manufacturing, the company's early years were marked by innovation, including the development of the nation's first flexible, flame-retardant, and fireproof cables in the early 1990s. Wang Baixing later emerged as a key figure, becoming the controlling shareholder and chairperson, guiding the company's significant expansion into the photovoltaic sector by 2012.
| Key Founding Information | Details |
|---|---|
| Establishment Date | September 5, 1988 |
| Initial Name | Changshu Tangshi Cable Works |
| Initial Focus | Cable Manufacturing |
| Key Early Innovation | Country's first flexible, flame-retardant, and fireproof cables |
| Emergence of Controlling Shareholder | Wang Baixing |
| Expansion into Photovoltaics | By 2012 |
Founding Vision
The company's inception was driven by a clear vision for cable manufacturing innovation. This foundational foresight was crucial for its subsequent growth and diversification.
Early Technological Advancements
A significant early achievement was the creation of the nation's first flexible, flame-retardant, and fireproof cables. This demonstrated the company's commitment to pioneering solutions in its industry.
Leadership Transition
Wang Baixing's rise to controlling shareholder and chairperson marked a pivotal moment. His leadership was instrumental in steering the company towards new markets and opportunities.
Strategic Diversification
The strategic decision to expand into the photovoltaic industry by 2012 was a testament to the company's adaptability. This move broadened its market reach and technological capabilities.
Initial Ownership Structure
While specific initial equity splits are not publicly detailed, the emergence of a controlling shareholder highlights the early concentration of ownership. This structure facilitated decisive leadership.
Entrepreneurial Foundation
The company's transformation from a small cable factory to a national high-tech enterprise underscores the strong entrepreneurial spirit of its founding team. Their vision fueled early innovation and growth.
The early ownership of Jiangsu Zhongli Group Co., Ltd. was characterized by the foundational vision of its founders and the subsequent consolidation of control under Wang Baixing. While precise initial shareholding percentages are not publicly disclosed, Wang Baixing's role as controlling shareholder and chairperson was critical in shaping the company's trajectory, particularly its significant expansion into the photovoltaic sector by 2012. This period of early development laid the groundwork for the company's growth, reflecting a strong leadership foundation and a commitment to innovation, as evidenced by its pioneering work in cable technology. Understanding these early dynamics is key to grasping the Mission, Vision & Core Values of Zhongli Group.
Founders and Early Ownership Key Points
The origins of Zhongli Group are rooted in its establishment as Changshu Tangshi Cable Works in 1988. The company's early success was driven by technological innovation in cable manufacturing.
- Established on September 5, 1988, in Changshu, Jiangsu Province.
- Initial focus on cable manufacturing.
- Developed the country's first flexible, flame-retardant, and fireproof cables in the early nineties.
- Wang Baixing emerged as the controlling shareholder and chairperson.
- Expanded into the photovoltaic industry by 2012.
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How Has Zhongli Group’s Ownership Changed Over Time?
The ownership journey of Jiangsu Zhongli Group Co., Ltd. has been marked by significant structural changes, notably its transformation into a limited liability company in 2007 and its subsequent public offering on the Shenzhen Stock Exchange in 2009. These events broadened its investor base and shifted its operational framework.
| Event | Date | Impact |
|---|---|---|
| Restructuring to Limited Liability Company | August 6, 2007 | Formalized corporate structure |
| Initial Public Offering (IPO) | November 27, 2009 | Became a publicly traded company (Stock Code: 002309) |
| Acquisition by Guangsheng New Energy | December 17, 2024 | Guangsheng New Energy became largest shareholder (20.00% stake) |
A pivotal moment in the company's ownership occurred on December 17, 2024, when Guangsheng New Energy acquired a substantial stake of 20.00%, amounting to 601,533,077 shares. This transaction led to a change in the actual controller, with Mr. Wang Baixing no longer holding that position, and the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government assuming control. This shift signals a strategic alignment with state-backed entities, particularly relevant given the company's involvement in new energy sectors and its exploration of mixed-ownership models with central enterprises such as China Energy Construction Group. As of August 12, 2025, the total number of outstanding shares for the company stands at 3.01 billion.
Key Ownership Developments
The ownership structure has evolved significantly, culminating in a recent change of control. Understanding these shifts is crucial for assessing the company's strategic direction.
- Transition from private to public ownership via IPO.
- Acquisition of a 20.00% stake by Guangsheng New Energy.
- Change in actual controller to the Xiamen Municipal People's Government.
- Exploration of mixed-ownership development with state enterprises.
- The company's stock code is 002309 on the Shenzhen Stock Exchange.
The evolution of Zhongli Group's ownership structure reflects a dynamic corporate history, moving from a privately held entity to a publicly listed company. This transformation has not only broadened its capital access but also introduced new layers of governance and stakeholder interests. The recent acquisition by Guangsheng New Energy represents a significant change in the Zhongli Group ownership, placing it under the purview of state-backed entities. This development is particularly noteworthy in the context of the company's strategic initiatives, including its engagement in the new energy sector and its efforts to integrate with larger state-owned enterprises. These moves suggest a future trajectory influenced by national energy policies and state-led industrial development. For a deeper understanding of the market dynamics and competitive positioning, exploring the Competitors Landscape of Zhongli Group provides valuable context.
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Who Sits on Zhongli Group’s Board?
As of 2025, the board of directors for Jiangsu Zhongli Group Co., Ltd. includes Jiana Xu as Chairman and Chang Huang as Vice Chairman, with Xiaojie Zheng serving as General Manager and Director. The board also comprises directors Jie Yan and Mao Lin, both Non-Independent Directors, and Chaolin Chen, Jinxiong Zheng, and Youyi Zhan as Independent Directors.
| Position | Name | Director Type |
|---|---|---|
| Chairman | Jiana Xu | |
| Vice Chairman | Chang Huang | |
| General Manager and Director | Xiaojie Zheng | |
| Director | Jie Yan | Non-Independent |
| Director | Chaolin Chen | Independent |
| Director | Jinxiong Zheng | Independent |
| Director | Mao Lin | Non-Independent |
| Director | Youyi Zhan | Independent |
| Chairman of the Supervisory Board | Jianhao Lu | (Since 2022) |
The effective shift in control to the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government on December 17, 2024, through Guangsheng New Energy's 20.00% shareholding, signifies a substantial influence over board appointments and strategic direction. While the typical one-share-one-vote principle applies, this 20.00% stake grants considerable voting power to the largest shareholder. Past governance issues, such as the 2022 dispute involving allegations of misuse of company funds by the then-chairperson and controlling shareholder, Wang Baixing, highlight historical internal challenges. The revised Company Law of the People's Republic of China, effective July 1, 2024, offers companies more flexibility in governance structures and enhances minority shareholder protections, which may shape future board dynamics and influence the Growth Strategy of Zhongli Group.
Understanding Zhongli Group's Ownership and Control
The ownership structure of Zhongli Group has seen a significant change, impacting its control dynamics. The State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government is now the controlling entity.
- Guangsheng New Energy holds 20.00% of shares, marking a shift in Zhongli Group ownership.
- The new controlling entity will heavily influence board appointments.
- Past governance disputes underscore the importance of clear control mechanisms.
- Recent legal reforms aim to strengthen minority shareholder rights.
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What Recent Changes Have Shaped Zhongli Group’s Ownership Landscape?
Recent years have seen significant shifts in the ownership of Jiangsu Zhongli Group Co., Ltd., culminating in a major change of its largest shareholder and actual controller on December 17, 2024. This transition has brought a new entity to the forefront of the company’s governance.
| Event | Date | Details |
|---|---|---|
| Acquisition of Largest Shareholder | December 17, 2024 | Guangsheng New Energy acquired 20.00% of total share capital. |
| New Actual Controller | December 17, 2024 | State-owned Assets Supervision and Administration Commission of Xiamen Municipal People's Government replaced Mr. Wang Baixing. |
| Restructuring Initiatives Began | At least 2022 | Focus on mixed ownership development and joint ventures. |
| Financial Reporting Date | March 31, 2025 | Trailing 12-month revenue reported. |
| Stock Price and Market Cap | August 12, 2025 | Stock price and market capitalization figures available. |
| Balance Sheet Date | December 31, 2024 | Current liabilities and assets data reported. |
The company has been actively engaged in a comprehensive restructuring process since at least 2022. This strategic overhaul includes innovating mixed ownership development, exemplified by a joint venture with China Energy Construction Group for a Siyang production base. These efforts are designed to enhance liquidity and reduce financial costs within the photovoltaic sector. Furthermore, reorganizations are underway in the cable and optical cable segments, including a planned merger of its stake in YOFC Zhongli Optical Cable Company into YOFC. These ongoing restructuring efforts, which involved regulatory reviews in 2024, aim to attract restructuring investors through judicial procedures to address existing issues and facilitate a return to sustainable, high-quality development.
Ownership Change Impact
The acquisition by Guangsheng New Energy and the subsequent change in actual controller signify a notable shift towards state-backed influence. This move is expected to shape the company's future strategic direction and operational stability.
Restructuring Objectives
The ongoing restructuring aims to resolve financial challenges and improve operational efficiency. Key initiatives include joint ventures and mergers to strengthen market position and financial health.
Financial Snapshot
As of March 31, 2025, the company reported a trailing 12-month revenue of $293 million. The stock price was $0.45 with a market capitalization of $1.35 billion as of August 12, 2025.
Financial Health Indicators
Despite current liabilities exceeding current assets by approximately RMB 175,509,000 as of December 31, 2024, the Group anticipates refinancing short-term borrowings. This reflects a common strategy in managing short-term financial obligations. Understanding the Target Market of Zhongli Group is crucial in this context.
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