[SMM New Energy] Shanshan Shares Restructuring Plan Submitted: Control May Shift to Anhui SASAC

Published: Mar 4, 2026 11:02

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Shanshan Shares released an update on March 3 regarding its controlling shareholder's restructuring. The administrator submitted the draft restructuring plan for Shanshan Group and Ningbo Pengze Trading on February 28, following the fourth creditors' meeting held on March 2. The voting period is set to conclude on April 15, 2026. According to the signed investment agreement, if the plan is approved and executed, the actual controller of Shanshan Shares is expected to change to the Anhui Provincial State-owned Assets Supervision and Administration Commission (SASAC). This marks a potential state-led takeover for the leading lithium-ion battery material supplier after entering court-mandated restructuring in early 2025.

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