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Zhongshan Broad-Ocean Motor Warns of Control Uncertainty Amid Divorce Case of Founder, Controlling Shareholder

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Zhongshan Broad-Ocean Motor (SHE:002249) has warned of potential uncertainty over its actual control, following a divorce dispute filed by co-founder and actual controller Peng Hui against her husband and company controlling shareholder, Lu Chuping.

The case, now before a Guangdong court, seeks property division and has yet to proceed to trial, according to a Wednesday filing with the Shenzhen bourse.

The electric motor manufacturer cautioned that while the litigation is personal and unrelated to daily operations, the eventual outcome could reshape ownership of the 26.82% stake jointly held by the couple. Lu alone controls 24.87% of the company.

Business continues as normal and no material operational impact is expected.

Shares of Zhongshan Broad-Ocean Motor closed 10% lower Wednesday.

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