---
title: "Halo: The company faces the risk of losing control over its holding subsidiary Zinitix"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/249979375.md"
description: "Halo announced that its controlling subsidiary Zinitix is facing the risk of losing control. Due to allegations of illegal activities against the current directors, the re-election of directors has been obstructed. HMI and others hold 35.31% of Zinitix's shares and possess veto power. If the re-election cannot be completed, Zinitix will no longer be included in the consolidated financial statements, which may have a significant adverse impact on the financial statements for 2025. In the first quarter of 2025, Zinitix's operating revenue was 48.0732 million yuan, accounting for 27.06% of the company's total revenue"
datetime: "2025-07-24T13:18:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/249979375.md)
  - [en](https://longbridge.com/en/news/249979375.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/249979375.md)
generator: "portal-rs"
---

# Halo: The company faces the risk of losing control over its holding subsidiary Zinitix

According to the announcement from ZhiTong Finance APP, Halo (688173.SH) has discovered that the current directors of its holding subsidiary Zinitix Co., Ltd. (referred to as "Zinitix") are suspected of illegal activities during their tenure at Halo and its subsidiaries, and are requesting a re-election of directors, but the current directors are obstructing this process. Currently, HMI and others collectively hold 35.31% of Zinitix's shares, possessing a veto power over special resolution matters. The company may not be able to complete the board re-election in a short period, posing a risk of losing control.

According to the company's Q1 2025 report, Zinitix's operating income for Q1 2025 was RMB 48.0732 million, accounting for 27.06% of the company's operating income for Q1 2025. If the company loses control over Zinitix, in accordance with relevant provisions of enterprise accounting standards, the company will no longer consolidate Zinitix into its financial statements, cease to recognize goodwill, and incur losses, which may have a significant adverse impact on the company's financial statements for 2025

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**