Shanghai Guo Sheng Group is an important shareholder of Guangming Group. Shanghai Guo Sheng (Group) Co., Ltd. (referred to as "Shanghai Guo Sheng Group") was established in September 2007, which is a large state-owned operation platform consortium approved by the municipal government. As the product of Shanghai's economic transformation and upgrading and the reform of state-owned assets and state-owned enterprises, Shanghai Guo Sheng Group plays an active role in innovating the system and mechanism of state-owned assets operation, promoting the flow of state-owned equity operation, investing in and cultivating strategic emerging industries, and revitalizing and integrating state-owned stock assets.
Haiguosheng Group is an important shareholder of many state-owned enterprises and listed companies in Shanghai, including Guangming Group, Oriental International Group, Lingang Group, Huayi Group, Shanghai Construction Engineering, Tunnel Co., Ltd., Huajian Group, Shanghai Pharmaceutical, Shanghai Electric, and Haitong Securities, Shanghai Rural Commercial Bank and other local key financial institutions.