Chairman Shao Genhuo of a 100-billion-yuan A-share company passes away; his underage daughter inherits 900 million yuan worth of stock.

On the evening of March 20, A-share listed company Dashnong (002385), a company with a market value of over 10 billion, disclosed that its former actual controller and chairman, Shao Genhuo, passed away on February 3 due to illness. During his lifetime, he directly held 928 million shares of the company, accounting for 21.58% of the company’s total share capital. According to the notarial certificate issued by the Beijing Jingcheng Notary Office, Shao Genhuo did not make a will before his death, nor did he sign any support-and-inheritance agreement with others. Half of the company shares he held during his lifetime (i.e., 464 million shares of Dashnong) were his estate, which was jointly inherited by his spouse, Mo Yun, and his minor daughter, Shao [certain name omitted]. Based on the division of spouses’ joint property and inheritance, Mo Yun inherited 696 million shares, accounting for 16.18% of the company’s total share capital; the minor daughter Shao [certain name omitted] inherited 232 million shares, accounting for 5.39% of the company’s total share capital.

As of March 20, Dashnong’s share price closed at 4.08 yuan per share, with a market value of 17.5 billion yuan. Using this as an estimate, the market value of the 232 million shares inherited by its daughter Shao [certain name omitted] is approximately 946 million yuan.

After the above changes in rights and interests, Mo Yun and Shao [certain name omitted], as persons acting in concert, together hold 21.58% of Dashnong’s shares. Since Shao [certain name omitted] is a minor, his mother Mo Yun is the legal guardian of Shao [certain name omitted]. Therefore, all rights corresponding to the above company shares obtained by Shao [certain name omitted] through inheritance—including, but not limited to, rights of attendance, nomination, proposal, voting, and other identity-related rights—are exercised by Mo Yun in accordance with law. Mo Yun’s voting rights are sufficient to have a major impact on resolutions of Dashnong’s shareholders’ meeting. Therefore, the company’s controlling shareholder and actual controller changed from Shao Genhuo to Mo Yun.

In the first three quarters of 2025, Dashnong achieved revenue of 20.744 billion yuan and a net profit attributable to the parent company of 257 million yuan. According to the company’s 2025 annual performance pre-announcement, the company expects to incur losses of between 450 million yuan and 580 million yuan.

Public information shows that Dashnong’s former actual controller, Shao Genhuo, is a PhD in agronomy from China Agricultural University. He is also the first PhD in pig nutrition in China. He began teaching at Beijing Agricultural College in 1991, and was the first PhD faculty member at that institution. The alumni association of China Agricultural University calls him the country’s first “pig-breeding PhD.” However, after teaching for more than a year, Shao Genhuo decided to give up the “iron rice bowl” job and “go into business”—in 1993, he took out all his savings of 20,000 yuan and, together with his entrepreneurial partners, rented two small rooms in Wanquan Village, Haidian District, to found Dashnong.

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