In the A-share market, the change of ownership has become a catalyst for the transformation and upgrading of listed companies. According to the information statistics of Shanghai Securities News, since 2021, a total of 87 listed companies have changed their owners. With the replacement of the “helmsman”, the “route” of listed companies has quietly changed.
“The entry of the new actual controller means that the business logic of the listed company may change greatly.” Some insiders said that in the case of the change of ownership of Listed Companies in recent years, whether focusing on the main business or completely changing, the change of ownership of A-share companies is largely promoting industrial transformation and upgrading.
At the same time, as the main force of taking over the offer, local state-owned assets will focus more on listed companies with good quality and synergistic effect with local industrial development. By joining the listed companies, they will attract investment and layout the industry, and actively provide “samples” for the transformation and upgrading of local industries.
new owners bring new weather
The change of ownership has become a catalyst for the transformation and upgrading of many listed companies.
Typical, such as Gifore Agricultural Science & Technology Service Co.Ltd(300022) . On February 18, Gifore Agricultural Science & Technology Service Co.Ltd(300022) disclosed the new strategic framework of “one body and two wings”. According to the announcement, “integration” refers to the company’s high-end characteristic manufacturing sector, which is positioned as the main business in the future; “Left wing” refers to the company’s agricultural machinery circulation sector, which is positioned as the cornerstone business; “Right wing” refers to the innovative service sector of the company’s agricultural machinery and three rural industrial chain, which is positioned to actively cultivate and incubate business. The release of the new strategy means that the company has moved from a single agricultural machinery circulation enterprise to a comprehensive agricultural machinery service provider, which is less than a year from the official change of ownership of the company.
In March 2021, Sichuan Tequ education obtained the voting rights corresponding to 30 Suzhou Hesheng Special Material Co.Ltd(002290) 712600 shares (accounting for 23.86% of the total share capital of the company) through the way of “agreed transfer of shares + voting power entrustment”. Wang Huiwu, the actual controller of Sichuan Tequ education, became the new actual controller of the company.
“Geographically close, we know each other’s roots, and more importantly, the recognition of the industry by the new major shareholders finally contributed to the change of ownership.” Referring to the changes after the change of ownership, Gifore Agricultural Science & Technology Service Co.Ltd(300022) relevant person in charge introduced that at present, the new and old shareholders have reached an agreement on the development concept of the industry and the company, and both sides are willing to vigorously invest their own resources to develop the high-end characteristic agricultural machinery manufacturing sector. It is reported that in the next step, Gifore Agricultural Science & Technology Service Co.Ltd(300022) plans to open up the industrial chain in three to five years.
Similarly, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) . In November 2019, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) ushered in the second change of ownership in the development process – “after 95” buyer Wang Zelong transferred 27.05% equity of the company at the price of 3.8 yuan / share, becoming the controlling shareholder and actual controller of the company. Subsequently, Wang Zelong further expanded his controlling stake to 43.48% by means of fixed increase.
After welcoming the new owner, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) moves constantly. In October and November 2020, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) successively announced to invest 10 billion yuan and 15 billion yuan respectively in Xinjiang and Panzhihua, Sichuan to expand the main industry and integrate the vanadium and titanium industry chain; In February 2021, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) disclosed that it planned to invest 12.1 billion yuan into the lithium iron phosphate industry to build a 500000 ton iron phosphate project; In 2022, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) joined hands with Gem Co.Ltd(002340) and others to participate in the construction of graphene coated graphite negative electrode material (Jingmen) production base of Shenzhen intrinsic equation.
“If the first change of ownership of the company solves the problem of survival, the second change of ownership solves the problem of development.” Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) relevant person in charge said in an interview with reporters that the new owner brings new ideas. The company constructs the industrial layout of new material circular economy with the concept of “vertical promotion and horizontal circulation”, focusing on the four businesses of resources, titanium chemical industry, new materials and new energy. In the future, Cnnc Hua Yuan Titanium Dioxide Co.Ltd(002145) will transform and upgrade from a single titanium dioxide production enterprise to a high-tech enterprise of new energy materials.
Bece Legend Group Co.Ltd(000803) , Shandong Bohui Paper Industry Co.Ltd(600966) and other enterprises have successfully changed their owners. At the same time, the main business has also been revitalized. Executives of listed companies said that the alternation of actual controllers between the old and the new can objectively create conditions for the adjustment of the company’s industrial structure and the realization of industrial upgrading. The source stressed that the new major shareholders’ in-depth research on the current situation and future development trend of the company’s industry and their unwavering confidence are a strong guarantee for the success of the company’s secondary development.
state owned assets took over and attracted “living water”
Different from the previous bail-out, in this round of easy trend of listed companies, local state-owned assets have focused more on listed companies with good quality and synergistic effect with local industrial development, and actively provide “samples” for local industrial transformation and upgrading through ownership.
Take Zibo state owned assets as an example. In December 2021, Omh Science Group Co.Ltd(300486) disclosed that the company officially changed ownership of Zibo state owned assets. According to the previously announced plan, Zibo Finance Bureau, through “Zibo hengsong”, spent 1.472 billion yuan to acquire 29.44% of the shares held by Omh Science Group Co.Ltd(300486) former controlling shareholder and actual controller Yao Bowen, vice chairman Liang Yansheng and zhonghesheng at the price of 12.3 yuan per share, becoming the controlling shareholder of the listed company and Zibo Finance Bureau becoming the actual controller.
This change of ownership has also been given the significance of boosting the transformation and upgrading of local related industries. As one of the largest intelligent equipment manufacturers in China, Omh Science Group Co.Ltd(300486) has built five business segments: intelligent logistics transportation system, intelligent logistics storage system, intelligent three-dimensional parking system, intelligent coating system, intelligent information system integration and R & D. At the same time, in recent years, Zibo is committed to building an automobile city, and has successively introduced Geely, Taizhan electromechanical and other automobile manufacturing and parts manufacturing enterprises. In October 2021, Omh Science Group Co.Ltd(300486) announced that the company set up a wholly-owned subsidiary ” Omh Science Group Co.Ltd(300486) Shandong” in Zibo to further expand the company’s business in Shandong.
This is not the first time Zibo state-owned assets have made a move. On November 16, 2021, Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) announced that the actual controller of the company planned to transfer part of the equity to Zibo state-owned assets, which may involve the change of the company’s control. Similar to Omh Science Group Co.Ltd(300486) , Jiangyin Jianghua Microelectronics Materials Co.Ltd(603078) also belongs to an enterprise with outstanding main business and growth. Its main business is the R & D, production and marketing of wet electronic chemicals such as ultra-clean and high-purity reagents and photoresist supporting reagents, which is mainly applicable to the cleaning, lithography, development, etching and other micro processing of electronic components such as flat panel display, semiconductor and led, photovoltaic Cecep Solar Energy Co.Ltd(000591) Film removal and other manufacturing processes.
Henan state owned assets are also attacking in the A-share market. On November 26, 2021, Bringspring Science And Technology Co.Ltd(300290) disclosed that the controlling shareholder of the company Guoke industry and Henan Xinchan digital innovation private equity investment fund partnership (limited partnership) (hereinafter referred to as “Xinchan digital innovation fund”) completed the share transfer registration. After the equity transfer, the trust assets digital creation fund held 20.02% of the shares of the company and became the controlling shareholder of the company. The Bringspring Science And Technology Co.Ltd(300290) actual controller was changed to the Department of finance of Henan Province.
Henan state-owned assets have been invested in Bringspring Science And Technology Co.Ltd(300290) , and the signal of Industrial Synergy is strong. It is reported that the controlling shareholder of the fund is Henan Information Industry Investment Co., Ltd. as the main body of information industry investment and operation in Henan Province, it mainly serves the construction of information infrastructure and industrial ecology. Bringspring Science And Technology Co.Ltd(300290) has been deployed in the fields of intelligent medical treatment, health data and intelligent cloud services for many years. It is a supplier with a complete range of medical information products in China. It is reported that Henan Information Industry Investment Co., Ltd. will take advantage of Bringspring Science And Technology Co.Ltd(300290) ‘s technical advantages, business advantages and service capabilities in the field of medical informatization and big data to promote the construction of information industry infrastructure, the implementation of key projects and the comprehensive upgrading of industrial ecology in Henan Province.
In addition to Bringspring Science And Technology Co.Ltd(300290) , Henan state-owned assets have successively won the control of listed companies such as Jilin Jinguan Electric Co.Ltd(300510) , Ningbo Gqy Video & Telecom Joint-Stock Co.Ltd(300076) , Beijing Unistrong Science & Technology Co.Ltd(002383) , and the change of ownership of companies such as Tianjin Motor Dies Co.Ltd(002510) is also being promoted.
“At present, the change of ownership is no longer a simple shell resource transaction, but pays more attention to industrial coordination and industrial upgrading.” Some market participants said that on the whole, the acquisition of the above local state-owned assets followed the characteristics of upstream and downstream or vertical mergers and acquisitions of the industry, and most of the acquiree were of good quality and even had a leading position. For state-owned assets, taking control of listed companies involves both the prevention and resolution of local financial risks and the securitization of state-owned assets. For listed companies, relying on the “big tree” of state-owned assets will help listed companies use the state-owned assets platform for industrial and financial interoperability and boost the company’s operating performance.
