In May last year, Luo Jun, the former controlling shareholder of Suzhou state owned culture office, signed the voting right agreement with the former controlling shareholder of Suzhou state owned culture office, and the latter became {600083.4} of Suzhou state owned culture office. At the same time, Luo Jun, the former controlling shareholder of Suzhou state owned culture office, became Jiangsu Boxin Investing & Holdings Co.Ltd(600083) . However, nearly a year later, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) actual control may change hands again.
On the evening of February 20, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) announced that according to the execution ruling issued by Hangzhou intermediate people’s court, 34.5 million shares of the company held by Suzhou Shengjun were ordered to be delivered to Jintou Chengxing to offset part of the debt. The execution of the judicial ruling will reduce the shares of listed companies held by Suzhou Shengjun to 30.8001 million shares According to the shareholder voting right entrustment agreement signed by Luo Jing and Suzhou culture, Suzhou culture, as the voting right trustee of Suzhou Shengjun and Luo Jing, the number of voting shares held by Suzhou culture in the listed company was reduced from 66.5506 million shares to 32.506 million shares, and the proportion of voting rights was reduced from 28.94% to 13.94%.
According to the detailed equity change report, Hangzhou municipal government is the actual controller of Jintou Chengxing. After the above equity changes are completed, Jintou Chengxing and its persons acting in concert will make certain adjustments to the members of the Jiangsu Boxin Investing & Holdings Co.Ltd(600083) board of directors, board of supervisors and senior managers.
the largest shareholder was changed to Hangzhou state owned assets
Due to the case of contract dispute between Jintou Chengxing and Guangdong Zhongcheng Industrial Holding Co., Ltd. and Suzhou Shengjun, on January 23 this year, Hangzhou intermediate people’s court held a public auction of 34.5 million Jiangsu Boxin Investing & Holdings Co.Ltd(600083) shares held by Suzhou Shengjun, but the auction ended because there was no bidding. On January 25, Hangzhou intermediate people’s court ruled that the 34.5 million Jiangsu Boxin Investing & Holdings Co.Ltd(600083) shares held by Suzhou Shengjun, the executee, would be valued at 552 million yuan and delivered to Jintou Chengxing, the executor, to offset part of the debt, which accounted for 15% of the total share capital of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) .
It is worth mentioning that the stock price of this debt repayment is 16 yuan / share, while the latest closing price of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) is 8.43 yuan / share, with a premium rate of 89.8%. In fact, since January 26, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) share price has continued to rise. On February 17 and 18, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) gained two consecutive trading limits.
Looking at the changes in shareholding ratio, after the above equity changes are completed, Jintou Chengxing will become the largest shareholder of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) , with a direct shareholding ratio of 15%, and the total shareholding ratio with Hangzhou liteng, who acted in concert, will rise from 4.95% to 19.95%. On the other hand, as the voting rights of Suzhou culture shares come from Suzhou Shengjun and Luo Jing, the proportion of voting rights will be reduced from 28.935% to 13.935%.
The detailed equity change report shows that Jinzhi asset management is the general partner and executive partner of Jintou Chengxing. Jintou leasing holds 100% equity of Jinzhi asset management, Jintou leasing is the holding subsidiary of Jintou group, and Hangzhou municipal government holds 90% equity of Jintou group. Therefore, Hangzhou municipal government is the actual controller of Jintou Chengxing.
It is worth mentioning that although Jintou Chengxing is the largest shareholder of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) , due to the close proportion of voting rights between Jintou Chengxing and Suzhou culture, and the single party does not exceed 30%, the directors, supervisors, organizational structure and operation of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) have not changed. Therefore, at present, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) is still the controlling shareholder of Suzhou culture, and the actual controller is still the state owned assets supervision and Administration Office of Suzhou District.
However, the announcement also mentioned that CIC Chengxing and its persons acting in concert will actively negotiate with Jiangsu Boxin Investing & Holdings Co.Ltd(600083) other shareholders to make certain adjustments to the directors, supervisors and senior managers of the latter. If after the personnel adjustment, Jintou Chengxing and its persons acting in concert can obtain more than half of the seats on the Jiangsu Boxin Investing & Holdings Co.Ltd(600083) board of directors, realize the control over the Jiangsu Boxin Investing & Holdings Co.Ltd(600083) board of directors, and re appoint the senior executives through the board of directors, the actual controller of Jiangsu Boxin Investing & Holdings Co.Ltd(600083) will be changed, and the change of control right shall be approved in advance by the competent State-owned Assets Supervision and administration authority.
under frequent operation, shell preservation is expected to
Due to the continuous negative net profit in 2018 and 2019, Boxin shares was warned of delisting risk, and the abbreviation of the company’s securities was changed to Jiangsu Boxin Investing & Holdings Co.Ltd(600083) in 2020; In 2020, the company’s net profit turned around, but the deduction of non net profit was still negative, and the company’s revenue scale was only 7.13 million yuan after deducting business income unrelated to its main business. Therefore, the delisting risk warning continued to be implemented.
Since Suzhou culture took over last year, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) has made frequent moves and has a strong desire to protect the shell. In early July last year, the company announced that in order to further expand the main business of mechanical equipment leasing, it planned to sign supply contracts with Henan mining and Zhejiang Huba, pay cash to buy two subway gantry cranes from Henan mining and six tower cranes from Zhejiang Huba, with an estimated contract amount of 24.5 million yuan.
By September last year, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) had issued two major asset purchase reports, one of which was that the company obtained 51% equity of Qianping machinery through agreement transfer and cash capital increase through xindunbao, a wholly-owned subsidiary; The other is that xindunbao plans to pay cash to buy several new machinery and equipment for the leasing business of heavy machinery and equipment.
The performance commitment clause was also arranged in the transaction of acquiring 51% equity of Qianping machinery. According to the announcement at that time, after consensus of all parties, Wang Fei agreed Jiangsu Boxin Investing & Holdings Co.Ltd(600083) and xindunbao made commitments to deduct non net profits of Qianping machinery within the scope of consolidated statements in 2021, 2022 and 2023, which were no less than 65 million yuan, 70 million yuan and 75 million yuan respectively.
With the help of a series of operations such as asset acquisition, Jiangsu Boxin Investing & Holdings Co.Ltd(600083) is expected to achieve a revenue of about 580 million yuan and a net profit of 9.3-13.5 million yuan last year. In the performance forecast, the company said that in 2021, the company’s equipment comprehensive service business and intelligent hardware business continued to develop; Qianping machinery has performed well after the merger and has become an important part of the company’s revenue and net profit.
So, will the change of the largest shareholder make Jiangsu Boxin Investing & Holdings Co.Ltd(600083) business ideas change again? It is reported that Jintou Chengxing is mainly engaged in equity investment and investment management business, Hangzhou liteng is mainly engaged in enterprise management business, and Jinzhi asset management, the executive partner of Jintou Chengxing and Hangzhou liteng, is mainly engaged in the investment management business of entrusted asset management, equity investment and non securities business.
The announcement also gives an answer to this question, which says that Jintou Chengxing and its concerted action are subordinate enterprises of Jintou leasing, which has been seeking to layout in key areas such as public utilities, heavy equipment, special equipment, data center, green energy conservation, medical health and so on; At the same time, through the construction of the business model of “leasing +” to provide customers with more perfect comprehensive financial services, a comprehensive financial service ecosystem with financial leasing, operating leasing, asset management and commercial factoring as the core has been initially formed.
In the future, Jintou leasing will continue to optimize the business structure of listed companies and improve the asset quality of Listed Companies in accordance with the principles conducive to Jiangsu Boxin Investing & Holdings Co.Ltd(600083) sustainable development and the interests of shareholders, so as to enhance the value of listed companies.
