On January 14, 2026, Tianpu Shares received an inquiry letter from the Shanghai Stock Exchange concerning the change of its directors and senior executives. In response, Tianpu Shares clarified that the company’s core business—polymer fluid piping systems and automotive sealing systems—has not undergone significant changes, and that the relevant parties have no plans for adjustments. As of now, Zhonghao Xiying has initiated an independent initial public offering (IPO) and has entered the share reform stage. Its capital securitization route is independent of Tianpu Shares, and there are no arrangements for a backdoor listing within the next 36 months.
