On the evening of May 26, Guoxuan Hi-Tech Co., Ltd. (hereinafter referred to as “Guoxuan Hi-Tech”, 002074) disclosed the latest progress of the equity transfer, but has not yet announced specific information such as strategic investors.
The announcement stated that after the company discussed with the actual controller Li Zhen, the controlling shareholder Zhuhai Guoxuan and strategic investors, the transaction plan was initially determined to be Li Zhen and Zhuhai Guoxuan transferred part of the company’s equity it held to strategic investors and involved other voting rights arrangements. At the same time, the company planned to issue shares to strategic investors in a non-public manner.
Guoxuan High-Tech said that the aforementioned matters may lead to changes in the company ’s largest shareholder and actual control. Currently, the parties to the transaction are actively promoting their own internal approval procedures. The company’s stocks and convertible corporate bonds will continue to be suspended from the opening of the market on the morning of May 27. It is expected that the suspension will continue for no more than 5 trading days.
Guoxuan Hi-Tech is the third largest power battery manufacturer in China, and its installed capacity in 2019 is second only to the Ningde era and BYD. The company’s power battery products are widely used in the field of new energy vehicles such as pure electric commercial vehicles, passenger vehicles, logistics vehicles and hybrid vehicles, as well as energy storage power stations, communication base stations, wind-solar complementary, mobile power and other fields.
Tianyan check data shows that Zhuhai Guoxuan Trading Co., Ltd., a subsidiary of Guoxuan Hi-tech founder Li Zhen, is currently the company ’s largest shareholder with a shareholding ratio of 18.55 %; Li Zhen holds 11.94% of the shares, and his son Li Chen holds 2.52%.
The company issued an announcement on May 19 that it recently received the actual controller of the company Li Zhen and its concerted actions Zhuhai Guoxuan Trading Co., Ltd. and Li Chen informed that he was planning to transfer equity and planned to transfer part of the company ’s equity to strategic investors and involved other voting rights arrangements. The counterparty of this transaction belongs to the manufacturing industry, and the matter still involves the prior approval of the relevant departments.
Prior to this, the news of Volkswagen ’s shareholding in Guoxuan High-tech was reported several times, but none was confirmed. Reuters quoted sources on January 17 as saying that Volkswagen intends to acquire a 20% stake in Guoxuan Hi-Tech through a discounted private equity placement to further expand the layout of China’s new energy vehicle market. Then Guoxuan Hi-Tech clarified that the company is discussing with Volkswagen on possible future strategic cooperation, but has not yet reached an agreement, nor signed or reached a binding agreement.
There was another media report last month.The company will become the largest shareholder of Guoxuan Hi-Tech by issuing no more than 30% of shares and transferring some of the shares by agreement, and will further become its controlling shareholder within the next three years. On April 22, Guoxuan Hi-Tech once again clarified that the company and Volkswagen have not reached a consensus on specific cooperation methods, content, prices and other specific aspects, nor have they signed or reached any substantive and binding agreement on related cooperation matters. , Commitments or other arrangements.
The first quarterly report for 2020 released by Guoxuan Hi-Tech on April 28 showed that the company achieved revenue of 730 million yuan during the reporting period, a year-on-year decrease of 58.36%; it belongs to listed companies Shareholders’ net profit was 33.692 million yuan, a year-on-year decrease of 83.31%. For the decline in performance, the company said that it was mainly due to the impact of the new coronavirus pneumonia epidemic and the macroeconomic downturn on the overall market demand for the new energy vehicle industry. The sales of power batteries and power transmission and distribution equipment have a larger range than the same period last year. Down.
And its performance in recent years has not been satisfactory. The financial report data shows that from 2017 to 2019, Guoxuan High-tech’s operating income was 4.84 billion yuan, 5.13 billion yuan, and 4.96 billion yuan, an increase of 1.68%, 5.97%, and -3.28% year-on-year; the net profits attributable to shareholders of listed companies were 838 million yuan, 580 million yuan, and 51.25 million yuan, down 18.71%, 30.75%, and 91.17% year-on-year. The company made a net profit loss of 345 million yuan after deduction of last year, and the government subsidies included in the profit and loss for the period amounted to 510 million yuan.
However, affected by news such as the public’s shareholding, Guoxuan Hi-Tech’s stock price has increased by 86.8% this year. Closing on May 19, Guoxuan Hi-Tech reported closing at 27.18 yuan / share, with a total market value of 30.7 billion yuan.