Fang Gaoyuan and Fang Pintian signed the "Declaration of Waiver of Inheritance Rights", giving up their rights to inherit the equity inheritance. The aforementioned equity inheritance was inherited entirely by their mother, Su Xiaoying.
On December 28, 2020, Su Xiaoying, Fang Gaoyuan and Fang Pintian signed and notarized the "Donation Contract", whereby Su Xiaoying donated 78.5 million shares of the company to Fang Gaoyuan and Fang Pintian free of poland phone number list charge. Fang Gaoyuan and Fang Pintian signed a joint action agreement and currently hold a total of 89.94% of the company's shares, making them the actual controllers of the company.
After giving up their inheritance rights to the equity inheritance, brothers Fang Gaoyuan and Fang Pintian obtained the equity donated by their mother Su Xiaoying free of charge. This series of operations attracted the attention of regulators.
In the first round of inquiry letters, the regulatory agency asked the company to explain why Su Xiaoying first inherited Fang Cunzheng's equity estate and then donated it to Fang Gaoyuan and Fang Pintian free of charge, whether there were any tax planning considerations, and whether it involved personal income tax payment.