A-share listed company with billions of yuan in market cap: Chairman's death, massive inheritance distributed—underage daughter inherits over 900 million yuan in stocks

On the evening of March 20, the A-share listed company Dabeinong (002385), with a market value of over 10 billion yuan, announced that its former actual controller and chairman, Shao Genhuo, passed away on February 3 due to illness. Before his death, he directly held 928 million shares of the company, 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 with others. Half of his company shares (i.e., 464 million shares) 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 company’s total shares; his minor daughter Shao Moumou inherits 232 million shares, accounting for 5.39%.

As of March 20, Dabeinong’s stock closed at 4.08 yuan per share, with a market value of 17.5 billion yuan. Based on this, the 232 million shares inherited by Shao Moumou are valued at approximately 946 million yuan.

Following this transfer of rights, Mo Yun and Shao Moumou, as concerted actors, hold a combined 21.58% of Dabeinong’s shares. Since Shao Moumou is a minor, her mother Mo Yun is her legal guardian. Therefore, all rights associated with the inherited shares—including but not limited to voting rights, nomination rights, proposal rights, and voting power—are exercised by Mo Yun in accordance with the law. Mo Yun’s voting rights are sufficient to significantly influence the resolutions of the shareholders’ meeting, thus the controlling shareholder and actual controller of the listed company have changed from Shao Genhuo to Mo Yun.

In the first three quarters of 2025, Dabeinong achieved revenue of 20.744 billion yuan and net profit attributable to shareholders of 257 million yuan. According to the 2025 annual performance forecast, the company expects a loss of 450 million to 580 million yuan.

Public information shows that Shao Genhuo, the former actual controller of Dabeinong, was born in July 1965. He holds a Ph.D. in Agronomy from China Agricultural University and is China’s first pig nutrition Ph.D. graduate. In 1991, he began teaching at Beijing Agricultural College, becoming the university’s first doctoral faculty member. The China Agricultural University Alumni Association called him the “Number One Pig Farming Ph.D. in China.” However, after just over a year of teaching, Shao Genhuo decided to leave the stable academic career to start his own business— in 1993, he used all his savings of 20,000 yuan and, together with entrepreneurial partners, rented two small rooms in Wanquan Zhuang, Haidian, and founded Dabeinong.

Source: 21st Century Business Herald

Editor: Hu Yuanyuan Intern: Yang Xiaorui