Chengdu Xgimi Technology Co.Ltd(688696) just ushered in the lifting of the ban on restricted shares, the leader of intelligent projection equipment was greatly reduced by Baidu.
On March 3, Chengdu Xgimi Technology Co.Ltd(688696) announced that the shareholders of the company, Beijing Baidu Netcom Technology Co., Ltd. and Beijing Baidu Biwei enterprise management center (limited partnership), planned to reduce their holdings of no more than 2.14 million shares in total, that is, no more than 4.28% of the total share capital of the company. If calculated according to the closing price of 431.20 yuan on Chengdu Xgimi Technology Co.Ltd(688696) 3 March 3, two Baidu companies plan to reduce their shares, the corresponding market value is about 923 million yuan
According to the calculation of the reporter, Baidu invested more than 300 million yuan in Chengdu Xgimi Technology Co.Ltd(688696) four years ago, and now the market value of its shares has reached 2.5 billion yuan, making more than seven times
According to the announcement, as of the disclosure date of the announcement, Chengdu Xgimi Technology Co.Ltd(688696) shareholder baidu.com held 4.9416 million shares of the company, accounting for 9.88% of the total share capital; Baidu Biwei holds 862700 shares of the company, accounting for 1.73% of the total share capital. Baidu Netnews and Baidu Biwei are enterprises controlled by the same actual controller and persons acting in concert. They hold a total of 5.8043 million shares of the company, accounting for 11.61% of the total share capital of the company. The above shares are from the shares before the company’s initial public offering, and the restrictions on sale have been lifted and listed on March 3, 2022.
According to the announcement, baidu.com plans to reduce its holdings of no more than 1277100 shares through competitive trading and block trading, accounting for 2.55% of the total share capital; Baidu Biwei plans to reduce its holdings of no more than 862700 shares through competitive trading and block trading, accounting for 1.73% of the total share capital. The total reduction of the two enterprises is no more than about 2.14 million shares, that is, no more than 4.28% of the total share capital of the company the reason why the two enterprises intend to reduce their holdings is their own capital needs
it is worth noting that March 3 happened to be the first day of the lifting of the ban on Chengdu Xgimi Technology Co.Ltd(688696) restricted shares
According to the announcement made by Chengdu Xgimi Technology Co.Ltd(688696) previously, the company will have 21371800 restricted shares listed and circulated on March 3, accounting for 42.74% of the total share capital of the company. Among them, 1.25 million shares were the initial strategic placement shares, and 201218 million shares were the initial restricted shares of the original shareholders.
Chengdu Xgimi Technology Co.Ltd(688696) the total number of shareholders who lifted the restrictions on the sale of shares in this round is 27, and the corresponding number of shares is 21371800, of which the two enterprises of Baidu hold a total of 5804300 shares, more than 1 / 4 of the total number of restricted shares lifted this time.
How much is Baidu’s current profit from this investment?
According to tianyancha, baidu participated in Chengdu Xgimi Technology Co.Ltd(688696) c round and two rounds of strategic financing in November 2017, December 2017 and March 2018 respectively.
On March 3, 2021, Chengdu Xgimi Technology Co.Ltd(688696) successfully landed on the science and innovation board, with an issue price of 133.73 yuan / share. After listing, the share price once soared to 883.78 yuan / share, and then showed a downward adjustment trend.
Perhaps affected by the news of lifting the ban on restricted shares, Chengdu Xgimi Technology Co.Ltd(688696) fell 4.56% on March 3, and the share price closed at 431.20 yuan. The price is still 222.44% higher than the issue price of Chengdu Xgimi Technology Co.Ltd(688696) .
According to Chengdu Xgimi Technology Co.Ltd(688696) prospectus, baidu acquired the above shares after December 2017.
In December 2017, Jimi Co., Ltd. held a shareholders’ meeting to consider and agree to increase the registered capital, including 711699 yuan subscribed by Baidu Netnews and 237233 yuan subscribed by Baidu Biwei. The price of this capital increase is 210.76 yuan / capital contribution. Based on this calculation, baidu Netcom and Baidu Biwei invested about 200 million yuan.
On March 16, 2018, Jimi Co., Ltd. held another shareholders’ meeting and agreed that another shareholder would transfer the capital contribution of 647223 yuan held by Jimi Co., Ltd. to baidu.com. The equity transfer price is about 179.15 yuan / capital contribution. Based on this calculation, baidu Netcom invested about 116 million yuan.
Since then, after a series of capital increases before listing and IPO public offering, baidu Netnews finally held Chengdu Xgimi Technology Co.Ltd(688696) 494 million shares, accounting for 9.88% of the total share capital; Baidu Biwei holds 862700 shares of the company, accounting for 1.73% of the total share capital. Baidu has also become the second largest shareholder after Zhong Bo, the Chengdu Xgimi Technology Co.Ltd(688696) founder.
Based on the closing price on March 3, Baidu’s above-mentioned stock market value is about 2.5 billion yuan, which has increased by more than 7 times in four years compared with the initial investment of more than 300 million.
On February 25, Chengdu Xgimi Technology Co.Ltd(688696) released the annual performance express of 2021. In 2021, Chengdu Xgimi Technology Co.Ltd(688696) achieved a total operating revenue of 4.046 billion yuan, a year-on-year increase of 43.06%; The net profit attributable to the owners of the parent company was 489 million yuan, a year-on-year increase of 81.79%.
Chengdu Xgimi Technology Co.Ltd(688696) said that in 2021, the company’s product market performed well, and the sales volume maintained growth, driving the growth of total operating revenue; The change of the company’s pricing strategy and product structure, as well as the continuous introduction of the company’s self-developed polishing machine, led to the increase of gross profit margin. At the same time, the growth of operating income led to a significant increase in the current operating profit, total profit, net profit attributable to the owner of the parent company and net profit attributable to the owner of the parent company after deducting non recurring profits and losses compared with the same period of last year.
