[Guide] Ding Technologys controlling stake is expected to constitute a major asset reorganization
Chinese Fund reporter Qiu Dekun
On the evening of November 11, Shimao Energy announced, "The company plans to purchase Nantong Zhan Ding Material Technology Co., Ltd. (hereinafter referred to as Zhan Ding Technology) of not less than 58.07%of its equity, which is expected to form a major asset reorganization.
Zhan Ding Technology focuses on fluoride fluid technology and applications. The application field includes data center electronic equipment, semiconductor, new energy lithium power thermal control, etc. The third largest shareholder is 800 million in science and technology board companiesTime and space wholly -owned subsidiary.
In this regard, Shimao Energy Plan has suspended trading from November 11.On November 8, the companys stock price was reported at 20.77 yuan/share, an increase of 7.95%, and the total market value was 3.323 billion yuan.
The valuation of the asset of the target is not more than 1.2 billion yuan
It is expected to constitute a major asset reorganization
Shimao Energy Announcement stated that the company intends to purchase Zhan Ding Technology in the way of issuing shares and payment of cash, not less than 58.07%of 58.07%Equity assets.
At the same time, in principle, the above transaction is limited to Zhan Ding Technologys valuation of not more than 1.2 billion yuan.Based on this conversion, Zhan Ding Technology is not less than 58.07%of the equity assets, and the valuation will be not less than 697 million yuan.
Because Zhan Ding Technologys valuation and pricing have not yet been finalized, Shimao Energy expects that the above transactions may constitute major asset reorganization stipulated in the "Administrative Measures for the Reorganization of Listed Companies".
"Administrative Measures for the Important Asset Reorganization of Listed Companies" shows that related transactions must constitute three criteria for reorganization of assets, as long as one of them meetsYes, it involves total assets, net assets, and operating income.
Specifically, the total assets, net assets, and operating income of the target company account for 50%or more of the total assets, net assets, and operating income of listed companies, and the target targetThe companys net assets and operating income of more than 50 million yuan.
As of the end of the third quarter of 2024, Shimao Energys total assets and net assets were 1.509 billion yuan and 1.328 billion yuan; in 2024The operating income in the first three quarters was 268 million yuan.
According to the above standards, as of the third quarter of 2024, Zhan Ding Technologys total assets and net assets will be 755 million yuan and 664 million yuan; in the first three quarters of 2024The operating income is 134 million yuan.
That is, this transaction must constitute a major asset reorganization. Zhan Ding Technology must have the above -mentioned data on the total assets, net assets, and operating income in the corresponding reporting period.
The other party has not finally determined
The third largest shareholder /strong>
Shimao Energy Announcement stated that the companys proportion of the equity of Zhan Ding Technology is not less than 58.07%.Partnership), Shanghai Xuyin Zhan Ding Enterprise Development Center (limited partnership) and so on.
Tianyancha shows that the proportion of shares held by Shanghai Dongfuyuan Enterprise Development Center (limited partnership) and Shanghai Xuyin Zhan Ding Enterprise Development Center (limited partnership)%.
This means that if Shimao Energy will further control Zhan Ding Technology, the opponent of this transaction will also increase.Shimao Energy Announcement stated that the transaction matters are still in the planning stage, and the company is in contact with the transaction intention.
The equity penetration is visible. Zhan Ding Technologys third largest shareholder is Beijing 800 million time and space investment management Co., Ltd., with a shareholding ratio of 8.7912%.Sub -funded subsidiary of Yishong.
At the same time, the shareholders of Zhan Ding Technology also include the subsidiaries of the SASAC of Zhangjiagang High -tech Zone Investment Holding Co., Ltd., Jiangsu Qidong City Finance Bureau and other local state -owned assets.
Sky Eye Chada shows that Zhan Ding Technology was established on April 7, 2022. Currently, two rounds of financing has been completed. Investors include thick thickness.Snow Capital, CICC Capital, Jinsha Capital, Trend Investment.
Shimao Energy Announcement stated that the proportion and specific price of Zhan Ding Technology will eventually acquire Zhan Ding Technology.It is determined by the negotiations of all parties in the transaction and clarified in the formal equity transfer agreement.
Shimao Energy intends to cross -border mergers and acquisitions
In the first three quarters of 2024/strong>
Shimao Energys transaction is a cross -border merger.Shimao Energy is a thermoelectric co -produced enterprise with domestic waste and coal -fired as its main raw materials. It mainly provides customers with industrial steam and power generation.
The official website shows that Zhan Ding Technology is committed to becoming a first -level supplier of electronic -level materials in semiconductor markets.Semiconductor, new energy lithium battery thermal control and other fields.
Source: Zhan Ding Technologys official website
The requirements for transforming and upgrading towards new productive forces will be reorganized around strategic emerging industries, future industries, etc.
Industry insiders introduced that the improvement of computing power has promoted the power density of the data center, and higher requirements for the refrigeration system will make the liquid cooling technology become the mainstream in the future.Cooling.At present, fluorocarbon compounds are one of the more common and popular electronic equipment coolant.
Investment Securities Research Report shows that as the computing power increases, the demand for the data center coolant market will increase rapidly.At present, the electronic fluorine solution is mainly supplied by a few overseas enterprises. Domestic enterprises are in a state of accelerated catch -up, and the development space is expected.
At the same time, Shimao Energy planning has certain necessity.In the first three quarters of 2024, Shimaos energy increased revenue did not increase, and operating income increased by 2.38%year -on -year.
Source: Shimao Energy 2024 Three quarters
In the third quarter of 2024, Shimao Energy Energy sourcesThe operating income and net profit after deduction have decreased year -on -year, and the net profit attributable to the mother increased by 32.01 %year -on -year. It was mainly caused by the fair value of the fair value of the financial assets, and the dividend during the holding period.At the semi -annual performance briefing meeting in 2024, investors pay attention to the reasons for the decline in gross profit margin in Shimao Energy in the first half of 2024.Shimaos energy response stated that the companys power supply volume increased but the unit price decreased.
Edit: Joey
Review: Woodfish
Copyright Statement
The China Fund News enjoys copyrights for the original content published on this platform, and reprints without authorization, otherwise it will be held accountable.
Authorized reprinting cooperation contact: Mr. Yu (Tel: 0755-82468670)
