Xinde Technology is a Sino-foreign joint venture.Before the IPO, the actual controllers Chen Chunming, Rao Dongsheng, Jiang Xiaomin and their concerted actions, Xipu Yi, held a total of 63.32% of the company's shares; the foreign shareholder PPL held 26.17%, which was established in Hong Kong on March 17, 2000, as of 2022 On March 31, 2019, the actual controllers of PPL were Johannes van Tol (holding a Dutch passport) and Edgar James Swaab (holding a Swiss passport).