Woofun AI reports that ChangXin Memory Technologies will maintain a structure without an actual controller following its initial public offering. Vice President Yuan Yuan clarified that the shareholding profile will diversify further, with the top five shareholders each holding no more than 30% and no individual entity exceeding 50%. The company has established a governance framework comprising a shareholders' meeting, board of directors, special committees, and management. The 11-member board includes four independent directors, while the seven non-independent seats are nominated by Qinghui Changxin, Changxin Integration, Big Fund Phase II, Hefei Jixin, Anhui Investment, and one employee director. No single shareholder can determine the election of more than half of the board members through voting rights, preserving a dispersed nomination structure post-listing.