The controlling shareholder structure of Zhejiang Wolwo Bio-Pharmaceutical Co.,Ltd. has been altered following a marital separation involving its top executives.

On the evening of September 8, the company released a statement confirming that co-controllers Hu Gengxi and YANNI CHEN had mutually agreed to dissolve their marriage on September 8, 2026, and had reached an arrangement regarding the division of marital property. As a result, the controlling party of the firm has transitioned from the duo to YANNI CHEN alone. The controlling shareholder of the entity remains Zhejiang Wolwo Management Consulting Co., Ltd.

The announcement clarified that this adjustment in ownership rights stems from the property settlement linked to their divorce and is categorized as a non-transactional change. In a separate filing on the same evening, the company revealed that Chairman Hu Gengxi submitted his resignation, citing personal reasons. His departure covers his positions as chairman and director of the sixth board, convener of the board's strategy committee, member of the nomination committee, and all roles within the company's subsidiaries, along with his status as legal representative.

Following the resignation, Hu will no longer serve in any capacity with the company or its subsidiaries, though his term was originally set to conclude at the end of the sixth board's tenure.