Zhang Yongming, who was pushed to the position of actual controller in a hurry, finally sold Aotecar New Energy Technology Co.Ltd(002239)
On February 14, Aotecar New Energy Technology Co.Ltd(002239) announced that the company received a written notice from the actual controller Zhang Yongming on February 14 that Zhang Yongming and the controlling shareholders Jiangsu Tianyou Jingan Investment Co., Ltd., Beijing Tianyou Investment Co., Ltd. and Tibet Tianyou Investment Co., Ltd. (hereinafter referred to as the controlling shareholder) are planning the transfer of the company’s control.
At present, it has signed a share transfer intention agreement with China Chongqing Changan Automobile Company Limited(000625) Group Co., Ltd., and the counterparty plans to transfer 9.9% of the company’s shares in total. At the same time, the company plans to issue shares to the counterparty in a non-public manner. The trading of the company’s shares has been suspended since the opening of the market on February 15, and the suspension is expected to be no more than 2 trading days.
On the 14th, the net inflow of Aotecar New Energy Technology Co.Ltd(002239) was obvious. Although the vast majority of A-Shares fell, but Aotecar New Energy Technology Co.Ltd(002239) still rose nearly 6%.
150000 shareholders ecstatic
“national team” in
According to the announcement, Aotecar New Energy Technology Co.Ltd(002239) received a written notice from the actual controller Zhang Yongming on February 14. Zhang Yongming and the controlling shareholders of the company, Jiangsu Tianyou Jingan Investment Co., Ltd., Beijing Tianyou Investment Co., Ltd. and Tibet Tianyou Investment Co., Ltd., are planning the transfer of control of the company, and have signed the share transfer intention agreement with Chongqing Changan Automobile Company Limited(000625) group, The counterparty intends to acquire 321082600 shares of the company held by the controlling shareholder of the company (corresponding to 9.9% of the total share capital of the company).
According to the share transfer intention agreement, the parties to this transaction have made preliminary agreements on the corporate governance structure adjustment plan, the transfer restrictions of the company’s shares held by the company’s controlling shareholder and Zhang Yongming, and the waiver of voting rights. At the same time, the company plans to make a non-public offering of shares to the counterparty.
According to the third quarterly report, as of September 30, 2021, Jiangsu Tianyou Jingan Investment Co., Ltd., Beijing Tianyou Investment Co., Ltd. and Tibet Tianyou Investment Co., Ltd. held Aotecar New Energy Technology Co.Ltd(002239) 10.91%, 10.03% and 1.91% shares respectively.
It is understood that the counterparty Chongqing Changan Automobile Company Limited(000625) group has a long history. According to the data, Chongqing Changan Automobile Company Limited(000625) group is mainly engaged in automobile manufacturing and related industries. Its shareholder is China Ordnance Equipment Group Co., Ltd. and its actual controller is SASAC of the State Council.
This matter was regarded as a major positive by Aotecar New Energy Technology Co.Ltd(002239) investors. They left messages at the stock bar one after another saying that “the national team is coming”, “waiting to count money” and “a word board”.
Data show that as of the end of the third quarter, Aotecar New Energy Technology Co.Ltd(002239) had 153000 shareholders.
net profit loss for two consecutive years
According to public information, Aotecar New Energy Technology Co.Ltd(002239) mainly provides two types of products for new energy vehicles outside China.
One is an electric compressor. The company has China’s leading low-temperature enthalpy increasing electric compressor technology, which can increase the endurance capacity of electric vehicles. At present, the company is the core supplier of Tesla air conditioning system. It starts supporting model y overseas and replaces Valeo supporting model 3 in 2021. In addition to Tesla, customers also include Volkswagen, Byd Company Limited(002594) , Chang’an, Geely, Wuling, Weilai, ideal, rivian, etc.
The other is the heat pump air conditioner specially developed for new energy vehicles. It is understood that the use of heat pump air conditioning in winter can extend the mileage of 50-80 kilometers, which is equivalent to adding more than 1000 heat pumps, creating more than 7000 yuan of value, and the vehicle factory has a strong willingness to use it.
It is such a leading company with leading technology and catching up with the tuyere of new energy vehicles, but it has lost net profit for two consecutive years.
From 2012 to 2019, Aotecar New Energy Technology Co.Ltd(002239) has always maintained the state of attributable net profit. In 2020, Aotecar New Energy Technology Co.Ltd(002239) began to have a net profit loss. Financial data show that in 2020, Aotecar New Energy Technology Co.Ltd(002239) achieved an operating revenue of about 3.727 billion yuan, a year-on-year increase of 16.08%; The corresponding attributable net profit was about -296 million yuan, a year-on-year decrease of 390.29%.
According to the performance forecast of 2021 disclosed by Aotecar New Energy Technology Co.Ltd(002239) recently, the attributable net profit loss expected to be realized by the company in 2021 is about 45-90 million yuan, with a performance increase of 69.61% – 84.81% compared with the same period last year and a year-on-year loss reduction.
For the performance forecast in 2021, Aotecar New Energy Technology Co.Ltd(002239) said that in 2021, the company’s expected loss amount decreased significantly compared with the previous year, the company’s operating revenue increased significantly, the gross profit level of most businesses recovered, and most business segments made profits.
There are three main reasons for the current attributable net profit loss. First, the logistics cost of overseas business is high. Affected by the price increase of various types of freight in turn throughout the year, especially the additional increase of a large amount of air freight, the freight of parts supplied by the company to the North American factory remains high, forming a high non recurring loss factor; Second, the price of metal, the main raw material of the company’s products, rose and fluctuated at a high level. Chip and other key semiconductor parts have experienced serious shortage and price rise, which has restrained the company’s shipping capacity and raised the manufacturing cost; Third, it is expected that the company will make provision for asset impairment such as inventory falling price reserves and bad debt reserves corresponding to the business scale in the current period.
the former actual controller privately engraved the “radish seal” to harm the listed company
the current actual controller rushed to battle
On March 20, 2019, Aotecar New Energy Technology Co.Ltd(002239) disclosed major litigation matters, and the company recently received the judgment of Nantong intermediate people’s Court (hereinafter referred to as Nantong intermediate people’s court).
The general process of the case is: Aotecar New Energy Technology Co.Ltd(002239) major shareholder and former chairman Wang Jinfei jointly borrowed $50 million from Liu Bin in 2014 and failed to repay it on schedule.
In March 2018, Wang Jinfei and Liu Bin signed a supplementary loan agreement, which agreed that Wang Jinfei should bear the debt of US $30 million out of US $50 million and the corresponding interest and liquidated damages. At this time, Wang Jinfei carried out a “Sao operation”, privately engraved the Aotecar New Energy Technology Co.Ltd(002239) official seal and the name seal of the legal representative, signed and sealed the supplementary agreement in the name of the company, and listed Aotecar New Energy Technology Co.Ltd(002239) as the loan guarantor.
Since then, Wang Jinfei was still unable to repay the loan. Therefore, Wang Jinfei and Aotecar New Energy Technology Co.Ltd(002239) were sued to the court for repayment or guarantee obligations.
In fact, in August 2018, Aotecar New Energy Technology Co.Ltd(002239) was judicially frozen in three bank accounts due to related lending disputes, involving seized assets of up to 290 million yuan. At that time, Aotecar New Energy Technology Co.Ltd(002239) had reported the case to the public security organ. Later, when explaining the materials to the public security department, Wang Jinfei said that he privately engraved the Aotecar New Energy Technology Co.Ltd(002239) official seal and the name seal of the legal representative at the end of 2017, and used these two privately engraved seals on the private loan contract.
According to the judgment of the first instance, Aotecar New Energy Technology Co.Ltd(002239) should bear 355 million liabilities due to the “operation” of the original actual controller. Aotecar New Energy Technology Co.Ltd(002239) felt very innocent because Wang Jinfei used the radish seal. The agreement signed falsely was not the true expression of the company’s intention. Moreover, Wang Jinfei did not hold a position in the company when signing the agreement. He was just a shareholder of the company and had no right to carry out business activities on behalf of the company. Therefore, Aotecar New Energy Technology Co.Ltd(002239) will appeal to the higher people’s Court of Jiangsu Province.
Finally, as Wang Jinfei and Liu Bin agreed to settle, the debtor Liu binfang agreed to irrevocably waive the right of recourse against the company due to relevant debt disputes, and will withdraw the application for retrial of the company in relevant cases to the Supreme People’s court.
Meanwhile, in September 2018, Wang Jinfei privately engraved the company’s official seal because his personal debt could not be repaid, falsely listed the company as a guarantor or co borrower, resulting in a debt lawsuit. In order to reduce the adverse impact on the company, Mr. Wang Jinfei entrusted 6.23% of the voting rights to the “second leader” Zhang Yongming.
After three years of hard work, Zhang Yongming, who rushed to the battle, finally won a Aotecar New Energy Technology Co.Ltd(002239) new buyer.
