Securities code: 002943 securities abbreviation: Hunan Yujing Machinery Co.Ltd(002943) Announcement No.: 2021-096 Hunan Yujing Machinery Co.Ltd(002943)
Announcement on the reply to the letter of concern of Shenzhen Stock Exchange
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions. Special risk tips:
1. From November 8, 2021 to December 10, 2021, the closing price of the company’s shares increased by 199.40% and the cumulative turnover rate was 329.23%. In the same period, the Shenzhen a index increased by 5.83%. The company’s dynamic P / E ratio reached 2162.62 times. The recent increase of the company’s share price is much higher than that of the same industry and its market, Recently, there is a certain deviation between the stock price and the company’s fundamentals, and there may be speculation risk in the secondary market. The company reminds investors to pay attention to the transaction risks in the secondary market, make rational decisions and invest prudently.
2. As of the date of this announcement, the company’s non-public offering of shares still needs to be reviewed and approved by the company’s general meeting of shareholders and approved by China Securities Regulatory Commission and other competent departments. The above approval or approval is a prerequisite for the implementation of the non-public offering of shares. There are major uncertainties about whether the above approval or approval can be obtained and the corresponding time of final acquisition. At the same time, the non-public offering of shares also has the risk of being suspended and terminated due to market environment, unfavorable financing opportunities and other reasons. There is significant uncertainty about the implementation of the above non-public offering of shares. Investors are specially invited to invest rationally and pay attention to investment risks.
Hunan Yujing Machinery Co.Ltd(002943) (hereinafter referred to as “the company”) received the attention letter on Hunan Yujing Machinery Co.Ltd(002943) from Shenzhen Stock Exchange on December 17, 2021 (company Department attention letter [2021] No. 454, hereinafter referred to as “the attention letter”). The main contents and questions of the attention letter are as follows:
The closing price of your company’s stock has increased by 147.21% for 13 consecutive trading days from November 8 to 24, during which it touched the abnormal fluctuation of stock trading four times. Upon the application of your company, the trading of your company’s shares will be suspended from the opening of the market on November 25. Your company applied for resumption of trading on December 2 and disclosed the verification results and relevant risk tips. From December 8 to 10, the deviation of the closing price of your company’s shares from the value accumulated for three consecutive trading days exceeded 20.00%. The stock trading fluctuated abnormally again, and your company applied for suspension verification again.
Our department is concerned that the share price of your company increased by 199% from November 8 to December 10. According to the stock trading abnormal fluctuation and risk warning announcement disclosed by your company on December 13, the directors Zhang Guoqiu and Luo qunqiang have reduced 874200 shares and 706200 shares respectively since the disclosure of the reduction plan on November 10 and November 12.
Our department is highly concerned about the above matters. Please check and explain the following matters:
1、 In accordance with the provisions of the exchange’s announcement form for information disclosure of listed companies No. 9 – announcement form for abnormal fluctuations in stock transactions of listed companies, pay attention to and verify relevant matters, confirm whether there are major information that should be disclosed but not disclosed, whether there are major changes in the company’s Fundamentals, and whether the company’s recent stock price seriously deviates from the company’s fundamentals.
[reply]: from November 8, 2021 to December 10, 2021, the company’s share price rose by 199%. In strict accordance with the relevant provisions of the regulatory rules of your exchange and in combination with the actual situation of abnormal stock trading fluctuations of the company, the company publicly disclosed the announcement of abnormal stock trading fluctuations on November 11, 2021 and November 17, 2021, respectively On November 25, 2021 and December 13, 2021, the Advisory announcement on abnormal fluctuations and risks of stock trading was publicly disclosed, verified relevant important issues, reminded investors of possible investment risks, and fulfilled relevant information disclosure obligations.
(i) Description of the company’s concern and verification
According to the relevant regulations of Shenzhen Stock Exchange, the company has checked the relevant matters in view of the abnormal fluctuation of the company’s stock trading, and the relevant information is described as follows:
1. There is no need to correct or supplement the information disclosed by the company in the early stage;
2. The company has not found any unpublished material information that may or has had a great impact on the stock trading price of the company reported by the public media recently;
3. Recently, the company’s operation and internal and external business environment have not changed significantly, and the current operation is normal;
4. After verification, the company, the controlling shareholder and the actual controller have no major events that should be disclosed but not disclosed about the company, or major events in the planning stage;
5. After verification, the controlling shareholder and actual controller of the company did not buy or sell the company’s shares during the stock change period;
6. Through self-examination, the company has no other circumstances in violation of the provisions on fair information disclosure.
（2） Whether there is a description of information that should be disclosed but not disclosed
The board of directors of the company confirms that the company does not have any undisclosed matters or planning, negotiation, intention, agreement, etc. related to the matters that should be disclosed in accordance with the relevant provisions of the stock listing rules of Shenzhen Stock Exchange (revised in 2020) and the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange (revised in 2020); The board of directors has not been informed that the company has undisclosed information that has a great impact on the trading price of the company’s shares and their derivatives that should be disclosed in accordance with the stock listing rules of Shenzhen Stock Exchange (revised in 2020), the guidelines for the standardized operation of listed companies of Shenzhen Stock exchange (revised in 2020) and other relevant provisions; There is no need to correct or supplement the information disclosed by the company in the early stage.
（3） Description of company fundamentals
The operating revenue of the company in the third quarter of 2021 was 107 million yuan, an increase of 14.1235 million yuan compared with the second quarter of 2021. The net profit attributable to the shareholders of the parent company in the third quarter of 2021 was 668600 yuan, an increase of 1.4198 million yuan compared with the second quarter of 2021. The operating performance of the company has not changed much month on month, and the fundamentals have not changed significantly.
From November 8, 2021 to December 10, 2021, the closing price of the company’s shares increased by 199.40% and the cumulative turnover rate was 329.23% over the same period
Shenzhen a index rose by 5.83%, and the company’s dynamic P / E ratio reached 2162.62 times. The recent increase of the company’s share price is much higher than that of the same industry and its market. There is a certain deviation between the recent share price and the company’s fundamentals, which draws investors’ attention to investment risks.
2、 In accordance with the relevant provisions of the guidelines for the standardized operation of listed companies of the exchange, ask the controlling shareholders and actual controllers of the company in writing to explain whether they plan to carry out equity transfer, asset restructuring and other matters that have a significant impact on the company, and require them to reply in writing. [reply]: in accordance with the relevant provisions of the stock listing rules of Shenzhen Stock Exchange (revised in 2020) and the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange (revised in 2020), the company made a written inquiry to Mr. Yang Yuhong, the controlling shareholder and actual controller of the company, and the controlling shareholder and actual controller of the company made a written reply on December 23, 2021, As of the reply date, the controlling shareholder and actual controller of the company have not carried out equity transfer, asset restructuring plan and other matters that have a significant impact on the company.
3、 In accordance with the relevant provisions of the guidelines for the standardized operation of listed companies of the exchange, explain in detail the recent investigation of receiving institutions and individual investors, and whether there is any violation of the principle of fair disclosure.
[reply]: after verification, the company received specific research objects from Mr. Yang Yuhong, chairman of the company, Mr. Yang Jiawei, director and general manager, and Mr. Zhou Boping, deputy general manager, Secretary of the board of directors and chief financial officer from December 7, 2021 to December 8, 2021. According to the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange (revised in 2020) and the relevant provisions of the company’s investor relations management system, the company registered the personnel participating in investor research activities, and signed the letter of commitment and confidentiality agreement with the researchers On December 10, 2021, the company made public disclosure of this investor research activity in accordance with relevant regulations and designated channels. For details, please refer to the record of investor relations activities disclosed by the company (No.: 2021-001). The company did not violate the principle of fair disclosure in this investor research activity. The specific investigators and research contents are as follows:
■ target specific research □ analyst meeting
Investor relations event □ media interview □ performance briefing
Event category □ press conference □ Roadshow
■ site visit □ others
Institutions and individuals involved in the exchange:
NaNTU assets: Wu Gang spruce evergreen Fund: Li Fulei
Great Wall Fund: Chen Liangdong CCB Fund: Huang Ziling
ABC Huili: Liu Mengze Jiyuan assets: Zhu Yanzhen
Name of participants Citic Securities Company Limited(600030) : Zhang Zhiqiang Guotai Junan Securities Co.Ltd(601211) : Pang Junwen, Zhou miaoshun
And personnel name: Jinyuan Securities: Huang Bin Guosen Securities Co.Ltd(002736) : Lin zhaotian, Wu Shuang, Xiao bin
Hantian asset management: he Hong, Yi Hua; asset management: Huo Jingchun
Qianhai Lixin: Zheng bangqiang Yiheng Investment: Lu Xun
Fengjing capital: Li Zhengqiang, Chu Heng assets: Luo Wei, Yang Yiyi
Individual investors: Li Fan, fan Zhenlin, Zhu Hongtai
Time: December 7, 2021 to December 8, 2021
Location Hunan Yujing Machinery Co.Ltd(002943) conference room on the first floor
Mr. Yang Yuhong, chairman
Reception of listed companies
Mr. Yang Jiawei, director and general manager
Personnel name
Mr. Zhou Boping, deputy general manager, Secretary of the board of directors and chief financial officer
Introduction to main contents of investor relations activities
1、 Mr. Yang Jiawei, general manager, introduced the basic information of the company
Hunan Yujing Machinery Co.Ltd(002943) was founded in 1998 and listed on Shenzhen Stock Exchange in November 2018. The stock code is 002943. The company mainly provides downstream customers with integrated solutions for processing services such as cutting, grinding and polishing of hard and brittle materials. From 2020 to 2021, the company achieved an important breakthrough in the expansion of product types and product fields by acquiring Yiyuan new materials and investing in the establishment of Yuxing carbon, and further improved the overall layout in the photovoltaic industry chain. At present, the company and its subsidiaries are mainly engaged in the manufacturing of high-end CNC equipment and supporting core consumables. They are mainly engaged in the R & D, production and sales of equipment such as cutting, grinding and polishing of high hard and brittle materials and consumables such as diamond cutting line and carbon thermal field materials. The products mainly serve the material manufacturing links such as consumer electronics and photovoltaic industry. 2、 Q & a session
Question 1. Company management and technical team
Answer: the management and technical team of the company is becoming younger and younger. At present, an operation and management team headed by Mr. Yang Jiawei, general manager, has been formed. The new operation and management concept will promote the further development of the company. Question 2. Sales and customers of the company’s wire cutting machines
Answer: with the development of Cecep Solar Energy Co.Ltd(000591) photovoltaic industry, downstream customers’ demand for first-line cutting machines, the main processing equipment of Cecep Solar Energy Co.Ltd(000591) silicon wafers, has increased. The company has increased R & D investment and market development of wire cutting machines, and adjusted energy production according to market demand and orders of downstream users. From January to June 2021, the company realized a sales revenue of 26.2846 million yuan, a year-on-year increase of 348.89%. At present, the main customers of wire cutting machine products are Beijing Jingyuntong Technology Co.Ltd(601908) , Huantai, Ja Solar Technology Co.Ltd(002459) , Jingying optoelectronics, Yantai Shougang, Atlas, Gaojia Cecep Solar Energy Co.Ltd(000591) , Tongwei, Jiangxi Yuze, Jingbo and other enterprises.
Question 3. The company’s diamond line
Answer: in November 2020, the company acquired 51% of the equity of Hunan Yiyuan New Material Technology Co., Ltd., and Yiyuan new material became the holding subsidiary of the company. The subsidiary is mainly engaged in the R & D, production and sales of diamond line. The company will strengthen the control of production process, strengthen the R & D of diamond wire in fine line and supporting process, upgrade the equipment of subsidiaries in combination with the company’s automatic control technology, and do a good job in the intelligent combination of equipment and process in the R & D of products and processes, so as to ensure the quality and stability of diamond wire.
From January to June 2021, the company’s diamond line sales revenue reached 38.5895 million yuan.
Question 4. Carbon materials of the company
Answer: in February 2021, the company established a holding subsidiary, Hunan Yuxing Carbon Co., Ltd., which is mainly engaged in carbon and carbon thermal field materials such as crucible state, insulation cylinder, heat shield, crucible chassis and support ring. The products are applied to the manufacturing field of photovoltaic monocrystalline silicon and polycrystalline silicon. Since its establishment, the subsidiary has been put into operation rapidly and put its products on the market. From January to June 2021, the subsidiary achieved a sales revenue of 1.2438 million yuan of carbon thermal field materials. At present, the subsidiary has only done the CVD deposition process, and is increasing R & D efforts and extending the front-end process to improve the gross profit margin of products.
Question 5. Progress of the company’s plan to establish a subsidiary in Taiyuan, Shanxi
Answer: the company in 2021
