Director Zhang Conghe of Quanyin High-Tech did not reduce his shares upon the expiration of the share reduction period, and may also face claims for compensation due to previous disclosure issues.

Why did Zhang Conghe choose a tender offer to transfer shares?

Radar Finance | Text by Yang Yang | Edited by Li Yihui

On March 18, Quanyin High-Tech (Stock Code: 300087) announced that the period for senior management’s share reduction plan has expired. Mr. Zhang Conghe, the company’s director and deputy general manager, originally planned to reduce no more than 2.95 million shares through centralized bidding within three months after 15 trading days from November 28, 2025, representing no more than 0.31% of the company’s total share capital at that time.

As of the disclosure date, Mr. Zhang Conghe had not reduced any shares through centralized bidding but transferred 3,531,168 shares via an offer to purchase from China Seed Group Co., Ltd.

Before the reduction, Mr. Zhang Conghe held a total of 11,838,699 shares, accounting for 1.25% of the total share capital; after the reduction, he held 8,891,531 shares, accounting for 0.94%.

It is worth noting that Quanyin High-Tech may also face investor claims due to disclosure issues.

In this regard, Lawyer Zhang Yanwei, director of Shanghai Renying Law Firm, told Radar Finance that if a listed company’s disclosure is untimely or inaccurate, causing losses to investors, the affected investors can seek legal compensation. Investors who bought shares between the listing date and January 30, 2026, and hold Quanyin High-Tech stock as of the close on January 30, 2026, can register to claim compensation. To register, follow the public account “LeiZhuBa” (LeiZhu code: 88). There are no fees before receiving compensation.

According to Tianyancha, Quanyin High-Tech was established on July 24, 2002, with a registered capital of 947.331751 million RMB. The legal representative is Jiang Yekui, and the registered address is No. 98, Innovation Avenue, High-tech Zone, Hefei City, Anhui Province. Its main business includes research, breeding, promotion, and services for high-quality rice, corn, wheat, and other major crop seeds, as well as order-based agricultural business driven by the company’s high-quality specialty varieties.

Currently, the company’s chairman is Jiang Yekui, the secretary of the board is Zhang Qingyi, with 1,829 employees. The actual controller is the State-owned Assets Supervision and Administration Commission of the State Council.

The company has stakes in 38 subsidiaries, including Anhui Wanong Seed Industry Co., Ltd., Anhui Quanyin Seed Industry Technology Co., Ltd., Anhui Quanyou Seed Industry Development Co., Ltd., Anhui Quanyin High-Tech Agricultural Industry Co., Ltd., and Jiangxi Quanyin Seed Industry Co., Ltd.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was 3.491 billion yuan, 4.103 billion yuan, and 4.709 billion yuan, respectively, with year-over-year growth of 38.47%, 17.54%, and 14.77%. Net profit attributable to the parent was 233 million yuan, 268 million yuan, and 97.13 million yuan, with year-over-year growth of 38.03%, 17.37%, and -58.23%. During the same period, the company’s asset-liability ratio was 56.81%, 61.51%, and 65.74%.

Regarding risks, Tianyancha data shows the company has 138 internal Tianyan risks, 300 surrounding risks, 59 historical risks, and 430 warning alert risks.