Sad and happy! On the 28th, Shenzhen Mtc Co.Ltd(002429) several announcements stunned 120000 shareholders.
First, the “thunder explosion”: it disclosed the performance forecast in 2021 and the risk warning announcement on holding the commercial acceptance bills issued by Evergrande group and its member enterprises: the “thunder stepping” of the supply chain was nearly 2.9 billion yuan, and the net profit plunged by more than 81%.
However, another piece of good news revealed that Shenzhen SASAC should “take over the offer”.
Let’s have a wisp.
“stepping on thunder” Evergrande
2021 net profit decreased by 81% to 87%
On the 28th, Shenzhen Mtc Co.Ltd(002429) released the performance forecast for 2021: it is estimated that the annual attributable net profit in 2021 will be 230 million yuan to 330 million yuan, a year-on-year decrease of 81% to 87%.
Last year, its net profit in the same period was 1.76 billion yuan. According to the announcement, the main reason for the change of the company’s performance is the provision for impairment of accounts receivable of Evergrande group and its member enterprises.
1. In recent years, the company’s main business has continued to grow steadily, not only leading the industry in the field of traditional LCD TV ODM, but also gradually expanding into a service provider of all-round software and hardware integration solutions in the field of smart display.
In 2020, the company achieved an operating revenue of 20.186 billion yuan, breaking the 20 billion mark for the first time. In the first three quarters of 2021, the company’s operating revenue was 18.182 billion yuan, an increase of 29.69% year-on-year. It is expected that the whole year of 2021 will continue to maintain stable growth; At the same time, the company’s profitability has also been enhanced simultaneously. In 2020, the net profit attributable to the shareholders of listed companies was 1.763 billion yuan, with a three-year compound growth rate of 43.00%. In 2021, in addition to the recovery of notes receivable, accounts receivable and other creditor’s rights receivable related to Evergrande group and its member enterprises, the company’s main business maintained strong profitability.
2. The company holds the commercial acceptance bills issued by Evergrande group and its member enterprises. In view of the risk that the commercial acceptance bills of Evergrande group and its member enterprises are overdue, the controlling shareholders and the company actively seek solutions and take a series of relevant measures. The controlling shareholders raise funds by reducing their shares to help the company tide over the difficulties, Minimize the impact on the company.
The company has formulated and implemented solutions for the above matters. According to relevant accounting standards, it is still necessary to accrue impairment reserves for receivables during the period when the company holds relevant commercial acceptance bills. If the implementation and settlement of the above plans of the company are completed, it is expected that the company will not have a large amount of impairment provision for Evergrande in the future. At the same time, the company has strengthened risk management according to the changes of market environment. The centralized real estate purchase business no longer undertakes credit sales such as commercial acceptance bill as the payment method. At present, the business between the company and Evergrande group and its member enterprises only takes full cash advance payment as the payment method.
details: the supply chain “stepping on thunder” is nearly 2.9 billion yuan
How to “step on thunder” Evergrande?
Shenzhen Mtc Co.Ltd(002429) at the same time, it announced the risk warning announcement on holding commercial acceptance bills issued by Evergrande group and its member enterprises.
The details are as follows:
There are transactions with Evergrande group and its members to purchase LED products from Evergrande group. Among them, the assets of zhaochi supply chain include 2.827 billion yuan (282669758712 yuan) of commercial acceptance bills issued by Evergrande group and its member enterprises.
However, since the second half of 2021, Evergrande group and its member enterprises have had difficulties in capital turnover and cash flow, and their commercial acceptance bills have been overdue in the market. The company has been in contact with Evergrande group and its member enterprises to negotiate and solve the recovery of the company’s notes receivable, accounts receivable and other creditor’s rights receivable, And actively seek other solutions to reduce the relevant risks of the company.
Therefore, in order to minimize the risk of debt default of Evergrande group and its member enterprises, zhaochi spun off the above “stepping on thunder” 2.827 billion yuan of Evergrande’s zhaochi supply chain through capital increase.
As of December 3, 2021, zhaochi supply chain has received a capital increase of 3 billion yuan, and has completed the industrial and commercial change procedures of registered capital for capital increase and share expansion. The shareholding ratio of the company has changed from 1000000% to 147727%. Zhaochi supply chain has become a joint-stock subsidiary and is no longer included in the scope of the company’s consolidated statements.
Zhaochi supply chain has repaid all the debts of the company after receiving the capital increase, and the company has no creditor’s right and debt relationship with zhaochi supply chain.
However, zhaochi said that it was going to spend 2.9 billion yuan to buy 446154% of the equity of Kunming Fengtai, paying 2.894 billion yuan (289432691038 yuan) and 567308962 yuan in cash by means of commercial acceptance bills and accounts receivable transfer issued by Evergrande group and its member enterprises.
However, the industrial and commercial registration of this equity transfer has yet to be further promoted and implemented, and there is still uncertainty. If Shenzhen Mtc Co.Ltd(002429) fails to complete the purchase of 446154% equity of Kunming Fengtai in the end, in order to minimize the impact on the company, Nanchang Zhaotou promises to transfer the creditor’s rights (including commercial acceptance bills and accounts receivable) between Shenzhen Mtc Co.Ltd(002429) and Evergrande group and its member enterprises at a price not lower than the assessed value, and the transaction price is finally determined through negotiation with Shenzhen Mtc Co.Ltd(002429) on the basis of the assessed value, The payment method is cash.
Shenzhen state owned assets acquisition
Seeing the above operation, I believe many investors are confused and have not straightened out how to operate.
However, there is another piece of good news: Shenzhen state-owned assets will accept the offer Shenzhen Mtc Co.Ltd(002429) .
Shenzhen Mtc Co.Ltd(002429) announced that the controlling shareholder Nanchang Zhaotou and its acting in concert and actual controller Gu Wei signed the share transfer framework agreement with Shenzhen capital group and its wholly-owned subsidiary Yixin investment, and Nanchang Zhaotou plans to invest in capital group and Yixin
Transfer 19.73% of its shares in the company. The transfer price per share of the subject shares of the transaction is 4.89 yuan. The total transfer price was 4.368 billion yuan.
The latest closing price of Shenzhen Mtc Co.Ltd(002429) is 4.44 yuan per share.
According to the share transfer framework agreement, after the share transfer is completed (i.e. the share transfer confirmation document issued by zhongdeng company, the same below), during the period when the capital group is the actual controller of the listed company, Nanchang Zhaotou and Mr. Gu Wei only retain the voting right of holding 5.00% of the shares of the listed company (if the total shareholding ratio in the future is less than 5.00%, they will enjoy the voting right according to the actual shareholding ratio), Meanwhile, Nanchang Zhaotou and Mr. Gu Wei irrevocably give up their voting rights to hold all the remaining shares of the listed company (including but not limited to the shares or interests already held and subsequently acquired in any form); During the period when the capital group is the actual controller of the listed company, the above voting rights arrangements of Nanchang Zhaotou and Mr. Gu Wei are irrevocable.
If the above matters are successfully completed, the acquirer holds 893165400 shares of the company, accounting for 19.73% of the total shares of the company, and the proportion of voting shares is 19.73%. After the transfer of the above shares, Nanchang Zhaotou and Mr. Gu Wei hold 892559513 shares of the company, accounting for 19.72% of the total shares of the company, and the proportion of voting shares is 5%, The controlling shareholder and actual controller of the company will be changed to Shenzhen capital group.
helps to improve the company’s anti risk ability
According to the announcement, the background and purpose of the transaction is to more effectively support the development of the three main business segments of the company’s smart display, smart home networking and led whole industry chain, accelerate the integration of industry and capital and realize a new round of growth of the company, It plans to transfer some of its Shenzhen Mtc Co.Ltd(002429) shares to the acquirer, and irrevocably give up its voting right to hold more than 5% of the shares of the listed company during the period when the capital group is the actual controller of the listed company (if the total shareholding ratio in the future is less than 5.00%, it will enjoy the voting right in the actual shareholding ratio). If the delivery is finally completed and the waiver of voting rights of Nanchang Zhaotou and Mr. Gu Wei takes effect, the acquirer will obtain the control of the company, and the capital group will become the controlling shareholder and actual controller of the company.
Shenzhen capital group is an important subject for Shenzhen SASAC to expand the industrial chain. Holding and participating enterprises cover intelligent manufacturing, new energy, securities, insurance and many other fields, and have formed an industrial layout dominated by emerging industries and financial finance. In the future, the company will make full use of the advantages of Shenzhen capital group, deepen close cooperation with Shenzhen capital group and its associated companies in the state-owned assets system in terms of financial support and business cooperation, and constantly find new growth space in product innovation and industrial chain extension, so as to further stimulate the vitality of the company and promote the high-quality development of the company.
If the share transfer is completed, the controlling shareholder and actual controller of the company will be changed to Shenzhen capital group. The introduction of state-owned capital holding will help to optimize the shareholder structure of the company, enhance the financial credit and capital strength of the company, improve the anti risk ability of the company, coordinate the development of advantageous resources between the company and shareholders, and improve the comprehensive profitability of the company. This equity change will not have a significant adverse impact on the company’s daily production and operation activities. After the capital group becomes the actual controller of the listed company, Mr. Gu Wei will continue to serve as the chairman, and the existing operation and management team of the listed company is stable. The company will continue to focus on its main business and maintain the sustainability and stability of its development strategy.
previously bucked the market and plunged 40%
120000 investors were stunned: ice and fire
Previously, in the market of LED chip bull, Shenzhen Mtc Co.Ltd(002429) bucked the market and plummeted by more than 40%. At that time, many investors said that there must be demons when things happen.
Now, as soon as the news comes out, Shenzhen Mtc Co.Ltd(002429) the stock bar is confused. Investors said that the repeated announcements in the evening made people sigh, with ice and fire.
By the end of September 2021, the number of shareholders of the stock had exceeded 122000center>
