Laoganma Co President Tao Bihua has not held shares in the company she founded since at least June 2014, domestic media reported on Sunday.
Tao and her youngest son Li Hui, who once held half of the companies shares, disappeared from a list of company shareholders dated June 27, 2014, domestic news portal bjnews.com.cn reported.
The report said company's shares are now under the control of her eldest son, Li Guishan, and a person named Li Miaoxing, though it did not state the size of their stakes.
Li Miaoxing appeared on the company's shareholder list at the same time Tao and her some disappeared from it, according to the National Enterprise Credit Information Publicity System.
When the company was founded in 1997, Tao held 1 percent of its shares; her oldest son held 49 percent and her youngest son 50 percent, domestic news outlet cneo.com.cn reported in December 2014.
The report said that Tao had stopped managing the company's daily affairs, but continued to guide its direction.
Tao remains the legal representative and president of Laoganma, according to the credit system. It is still unclear why her youngest son stopped holding shares.
Founded in October 1997 in Guiyang, capital of Southwest China's Guizhou Province, Laoganma produces black bean sauce products.
The company has grown quickly over the past 20 years. In 2016, its sales reached 4.5 billion yuan ($654 million), the Guizhou Daily reported on Thursday.
