Reporter of the Economic Business: Pei Jianru Editor of the Economic Business: Pei Jianru

Picture source: Photo Network
On June 20, Pangda Group (601258, SH) issued an announcement stating that Pang Qinghua resigned from the positions of chairman of Pangda Group, chairman of the board of directors' strategic committee and general manager for personal reasons. After the board of directors' resolution, Wang Yusheng will perform the position of chairman before the election of the new chairman.
Qixinbao data shows that there are 26 affiliated companies under Pang Qinghua's name, of which 8 are legal representatives, but 5 of them have been cancelled or revoked. The remaining three are Pangda Auto Trade Group Co., Ltd., Subaru Auto (China) Co., Ltd. and Pangda Olix Automobile Rental Co., Ltd. At the same time, there are 25 companies in which Pang Qinghua serves as an executive, 8 of which show cancellation or revocation, and the other 17 are mainly car sales and service companies.

Image source: Qixinbao
It is worth noting that Pang Qinghua actually controls 899 enterprises, including Yunnan Pangda Jixiang Automobile Leasing Co., Ltd., Beijing Kyoto Shenlong Automobile Trading Co., Ltd., etc., most of the holdings are shown as "Shareholders (indirect shareholding)".
Regarding Pang Qinghua's decision to step down as chairman of Pangda Group, a source close to the Pangda Group told the reporter of "Daily Economic News": "This decision only applies for three years. Within three years, Mr. Pang will not serve as chairman, but in these three years, he was still the party secretary of the group and just did not participate in the operation."
Daily Economic News