Seagull Kitchen and Bath has announced that its controlling shareholder, Zhongyu Investment, intends to transfer 162 million shares by agreement—representing 25.01% of the company's total share capital. This includes 129 million shares (20.00%) to Botai Chellian and 32.3674 million shares (5.01%) to Fuqing Yaohong, after which the company's control will change. Recently, the parties signed a supplementary agreement adjusting the payment of consideration to a joint management account model, while core terms such as the number of shares and the price remain unchanged. To date, Botai Chellian and Fuqing Yaohong have paid earnest money of 200 million yuan and 20 million yuan, respectively. The transaction has cleared the operator concentration antitrust review; however, it still requires Botai Chellian to complete Hong Kong stock procedures, Shenzhen Stock Exchange compliance confirmation, and share transfer procedures. Whether the change of control can be completed remains uncertain.