# Chinese capital markets

Control Change Sparks Boardroom Purge at Delong Huineng, Leaving Investors in the Dark

Delong Huineng’s board was overhauled after a newly created entity, Nuoxin Chip Materials, completed a Rmb1 billion purchase of a 29.64% stake and became the controlling shareholder. Eight directors resigned and replacements were nominated, but the buyer’s recent incorporation and lack of operating history have raised governance and strategic uncertainties for minority investors. The company’s weak 2025 profitability and recent volatile share price have amplified market speculation about potential asset injections or a business pivot.