Before Death Without a Will, Dabeinong's Shao Genhuo's 928 Million Shares in Estate Successfully Inherited, Wife Becomes Controlling Shareholder of Billion-Yuan A-Share Company

(Source: Pig Helmet)

Dabeinong (002385) disclosed on the evening of March 20 that the company’s former actual controller and chairman, Shao Genhuo, directly held 928 million shares of the company before his death, accounting for 21.58% of the total share capital.

According to the notarization issued by Beijing Jingcheng Notary Office, Shao Genhuo did not leave a will nor sign any inheritance or support agreement before his death. Half of the shares he held in the company (i.e., 464 million shares of Dabeinong) are considered his estate and will be inherited jointly by his spouse, Mo Yun, and his minor daughter, Shao Moumou. Based on the division of joint property and inheritance law, Mo Yun inherits 696 million shares, accounting for 16.18% of the total share capital; his minor daughter, Shao Moumou, inherits 232 million shares, accounting for 5.39%.

Meanwhile, the announcement states that since Mo Yun is the legal guardian of minor daughter Shao Moumou, the rights to the shares held by Shao Moumou are exercised by Mo Yun. Mo Yun holds a total of 928 million voting shares, representing 21.58% of the company’s voting shares, which is sufficient to have a significant influence on the company’s shareholders’ meeting resolutions. Therefore, after this equity change, the company’s controlling shareholder and actual controller will be 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 30 years into one of China’s leading agricultural and animal husbandry enterprises. Currently, Shao Genhuo holds 21.58% of Dabeinong’s shares and is the company’s actual controller.

On January 30 of this year, Dabeinong released an earnings forecast, estimating a net profit attributable to shareholders of listed companies for 2025 to be a loss of 450 million to 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 sluggish pig market prices and the underperformance of invested units, the estimated realizable net value or recoverable amount of year-end pig inventories, long-term equity investments, and goodwill was lower than their book values. Based on prudence, Dabeinong has provisioned impairment losses on these assets, estimated to impact the company’s profit and loss by 600 million to 700 million yuan.

Source: Red Star Capital Bureau