in July last year, Xun Jianhua, the original actual controller of Eging Photovoltaic Technology Co.Ltd(600537) (600537) and his concerted action launched a “clearance” reduction plan, but it was not fully implemented until the reduction expired. Now, Xun Jianhua’s reduction plan has made a comeback. According to the announcement on Eging Photovoltaic Technology Co.Ltd(600537) February 23, Xun Jianhua and his concerted action currently hold a total of 7.66% and the reduction proportion will not exceed 6% in the next six months.
Eging Photovoltaic Technology Co.Ltd(600537) is mainly engaged in photovoltaic cell and module business. In 2011, Eging Photovoltaic Technology Co.Ltd(600537) backdoor Haitong group achieved A-share listing; In 2019, through share transfer, qinchengda investment replaced Xun Jianhua as the controlling shareholder of Eging Photovoltaic Technology Co.Ltd(600537) . In January this year, Eging Photovoltaic Technology Co.Ltd(600537) disclosed the fixed increase plan, and qinchengda investment intends to subscribe in full and increase its shareholding ratio in Eging Photovoltaic Technology Co.Ltd(600537) .
the original actual controller pushed a large proportion of reduction
According to the announcement, Xun Jianhua and his concerted actors Xun Jianping and Yao Zhizhong hold Eging Photovoltaic Technology Co.Ltd(600537) 9008 million shares in total, accounting for 7.66% of the total share capital of the company, of which Xun Jianhua holds 6.68%, Xun Jianping holds 0.49% and Yao Zhizhong holds 0.49%. The relationship shows that Xun Jianhua is the brother of Xun Jianping and Xun Jianhua is the brother-in-law of Yao Zhizhong.
According to the reduction plan, Xun Jianhua and his concerted actors plan to reduce their holdings of the company’s shares by means of centralized bidding trading and block trading within six months after three trading days from the date of the announcement of the reduction plan, with a total of no more than 70.582 million shares, that is, no more than 6% of the company’s total share capital.
As mentioned above, in July last year, Xun Jianhua and his concerted actors planned to implement a “clearance” reduction. At that time, he held 133 million shares, accounting for 11.34% of the total share capital. However, after the expiration of the last round of reduction, Xun Jianhua only reduced Eging Photovoltaic Technology Co.Ltd(600537) 43317000 shares, accounting for 3.68% of the total share capital. The reduction price range was 4.16 yuan / share – 5.15 yuan / share, cashing out 203 million yuan.
Eging Photovoltaic Technology Co.Ltd(600537) is an earlier photovoltaic cell and module manufacturer listed in China, but its performance and stock price performance have been tepid in recent years. Even in the big market of new energy sector last year, Eging Photovoltaic Technology Co.Ltd(600537) rose very little. This may be one of the reasons why Xun Jianhua and others failed to reduce their holdings.
performance loss in advance and increase in preparation
Since this year, Eging Photovoltaic Technology Co.Ltd(600537) senior management has changed frequently. At the end of January, Liu Qiang resigned as Eging Photovoltaic Technology Co.Ltd(600537) general manager, but remained a director of the company; At the same time, the company hired Tang Jun as the general manager. Statistics show that Tang Jun previously served as the president of Wuxi Suntech Cecep Solar Energy Co.Ltd(000591) Technology Co., Ltd., established China’s first polysilicon chip production line and presided over a number of national scientific and technological research topics.
In addition, Li Jingwu resigned as Eging Photovoltaic Technology Co.Ltd(600537) director and chairman at the end of January, and Zhu Li resigned as a director. After their resignation, both of them no longer held any position in the company. In early February, Eging Photovoltaic Technology Co.Ltd(600537) elected Yang Qingzhong as the chairman of the company. Yang Qingzhong once served as the general manager of Shenzhen qinchengda Real Estate Co., Ltd. and is now a director of the board of directors of Shenzhen qinchengda Group Co., Ltd.
At the time of personnel turmoil, Eging Photovoltaic Technology Co.Ltd(600537) performance is not satisfactory. The performance forecast shows that the net profit attributable to the shareholders of the listed company in 2021 is still a loss compared with the same period of the previous year, and the net profit attributable to the shareholders of the listed company is – 500 million yuan to – 600 million yuan; The net profit deducted from non profits is – 250 million yuan to – 350 million yuan.
Eging Photovoltaic Technology Co.Ltd(600537) said that in 2021, affected by the industry cycle, the relationship between supply and demand, covid-19 epidemic and other force majeure factors, the prices of raw and auxiliary materials in China’s photovoltaic industry increased significantly, while the cost pressure of photovoltaic modules transmitted slowly to end customers, resulting in a low gross profit rate of main business; In addition, due to the change of foreign currency exchange rate, the financial expense exchange loss increased.
Last year, the impact of non recurring gains and losses on Eging Photovoltaic Technology Co.Ltd(600537) was about – 250 million yuan. The company explained that in order to further improve the company’s asset structure, improve market competitiveness and concentrate limited resources and energy on mainstream photovoltaic technology, cell production lines and module production lines with poor production efficiency and product market competitiveness were sold during the reporting period, resulting in an asset disposal loss of about 300 million yuan.
At present, Eging Photovoltaic Technology Co.Ltd(600537) is promoting fixed growth. The company plans to raise no more than 1.3 billion yuan to invest in the construction project of high-efficiency Cecep Solar Energy Co.Ltd(000591) components with an annual output of 5GW in Changzhou to supplement working capital and repay interest bearing liabilities.
It is worth mentioning that the fixed increase will be fully subscribed by Eging Photovoltaic Technology Co.Ltd(600537) controlling shareholders. After the issuance, the shareholding proportion of qinchengda investment will rise from 21.65% to 39.7%. The company specifically mentioned that this issuance can stabilize the equity structure and enhance market confidence.
