On February 16, aerospace digital dimension (839204, NQ) announced that it won the bid for a government project in Anhui, which is conducive to the company’s further expansion of the UAV market. This is not the first time that the aerospace digital dimension has won the bid for a government project. Last November, the aerospace digital dimension “intensively” issued the bid winning announcement.
While the good news came out frequently, many executives of aerospace digital dimension reduced their holdings for many times. In this regard, the aerospace digital dimension told the reporter of the daily economic news that the payment collection of some projects of the company was slow and needed to supplement funds, so “only part of the shares can be sold and lent to the company”.
However, the aerospace digital dimension has not released relevant announcements on the situation of senior executives lending money to the company. Aerospace digital dimension responded: “the loan is an interest free loan, and the company benefits only. According to the provisions of the share transfer system, there is no need to review or disclose.”
Executives reduced their holdings and lent cash to the company, but did not believe it
Aerospace digital dimension specializes in the R & D, production, sales and application services of industrial UAVs and airborne sensors. Since November last year, aerospace digital dimension has won eight projects in Anhui, Yunnan, Inner Mongolia and other places. In addition to the UAV market, it also includes new energy remote sensing, satellite remote sensing, emergency disaster relief and other market segments, with a cumulative winning amount of more than 20 million yuan.
Aerospace digital dimension said that the time for winning the bid to obtain revenue is about three to six months after winning the bid, and the revenue is generally recognized at the end of the year. In other words, the project revenue won since November last year will be reflected in the 2022 annual report.
Business development is smooth and good news is frequent. At the same time, executives are reducing their holdings. Since October last year, three executives of aerospace digital dimension have reduced their holdings of the company’s shares.
Dong Tao, general manager of aerospace digital dimension, was the first to reduce his holdings. He reduced nearly 500000 shares on October 11, 2021 and November 8, 2021 respectively; In the next three months, Lian Kun, deputy general manager of aerospace digital dimension, and Bai Ruijie, chairman and actual controller, reduced their holdings for many times. According to the statistics of the reporter of the daily economic news, the three reduced their holdings of more than 4 million shares. Among them, on December 29, 2021, Bai Ruijie reduced his holdings of 2.2 million shares through block trading, while Feng Qing, another shareholder of aerospace digital dimension, increased his holdings of 2.2 million shares through block trading on that day. The shares reduced by Bai Ruijie are likely to be pocketed by Feng Qing. According to the disclosure of aerospace digital dimension, Dong Tao and Lian Kun acted in concert.
Aerospace digital dimension said that the reduction of senior executives’ holdings is mainly to supplement the company’s capital needs. Most of the money obtained from selling shares has now been lent to the company. These loans have no interest and no fixed (repayment) term. See the regular announcement disclosed later for the specific loan amount.
Wang huaitao, the chief lawyer of Shanghai Xingu law firm, believes that after the reduction of the company’s shareholders and senior executives, they lend the proceeds to the company without interest. The listed company should issue an announcement on the causes, current status and possible impact on the company of the borrowing event. “I think (shareholders borrow from the company) is a major event, which needs temporary announcement, not just regular announcement”.
It is planned to set up dozens of new branches to expand market channels
Aerospace digital dimension said that the company is committed to the development of professional UAVs and the whole industrial chain layout of UAV applications. Its executives have worked in the UAV industry for many years and were selected into the first batch of “specialized and special new” small and medium-sized enterprises in Beijing in 2020. At present, the company’s products and services involve power inspection, emergency rescue, aerial photography, aerial mapping and other fields.
Aerospace digital dimension was founded in 2013 and listed on the new third board in 2016. In the second year of listing, the company’s revenue and net profit attributable to the parent increased significantly. However, the revenue growth of aerospace digital dimension has slowed down in the past four years, and the net profit attributable to the parent company has decreased significantly. In 2020, the aerospace digital dimension achieved a revenue of 100 million yuan, an increase of 6.96% year-on-year; The net profit attributable to the parent company was 11.3 million yuan, a year-on-year increase of 2.55%.
In 2018 and 2019, the revenue of the top five customers of aerospace digital dimension accounted for more than 70% of the sales revenue, 75.55% and 72.73% respectively. By 2020, the dependence on key customers will be reduced to 44.09%.
Previously, aerospace digital dimension mentioned in the public transfer statement: “the ability to expand market channels is very important for professional UAV enterprises.” Aerospace digital dimension said that now it only depends on the promotion of the head office. First, the capital is limited, and second, the personnel are limited. Therefore, the company plans to build a branch in all provinces this year, and plans to open a total of 30 or 40 new branches to be responsible for the promotion business.
The reporter of the daily economic news noted that among the top ten shareholders of aerospace digital dimension, there are many powerful institutions such as the fund of China Aerospace Science and industry, Orient Securities Company Limited(600958) (600958, SH), the subordinate companies of China Nonferrous Metals Industry Association and so on.
Among them, the third largest shareholder of aerospace digital dimension is the venture capital fund for the transformation of scientific and technological achievements of Aerospace Science, industry, military and civil integration. According to the official website of the National Space Administration, the fund was jointly launched by the Beijing municipal government and China Aerospace Science and industry, with the participation of financial capital and science and technology service institutions, with a scale of 1 billion yuan. The fourth largest shareholder is Orient Securities Company Limited(600958) . The tenth largest shareholder is China Nonferrous Metals Industry Technology Development Co., Ltd. qixinbao information shows that the company is 100% owned by China Nonferrous Metals Industry Association, and the business competent unit of the latter is the state owned assets supervision and Administration Commission of the State Council.
