Wanxiang 123 started the preparations for listing in October last year. The company has been haunting the capital market in a low-key way all year round. It has not only participated in the IPO strategic placement of Tengyuan cobalt industry, which has recently been listed, but also participated in a number of enterprises that are rushing to be listed.
The shareholding structure of Wanxiang 123, a lithium battery manufacturer of Wanxiang, which has started listing, has changed, and the listed company of Wanxiang Wanxiang Qianchao Co.Ltd(000559) transferred part of the equity of Wanxiang Group to become the second shareholder.
Wanxiang 123 Co., Ltd. was formerly A123, a lithium battery manufacturer established in the United States in 2001. Wanxiang Group acquired A123 as a whole in 2012. In recent years, with the rise of Chinese lithium battery giants such as Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) . SZ), Wanxiang 123 also received orders from international automobile enterprises last year. In March 2021, Volkswagen announced that it had confirmed Wanxiang 123 as the supplier of Volkswagen power battery and would start supplying it within the next two years.
Wanxiang 123 had previously started preparations for listing. In October 2021, Wanxiang 123 signed a listing guidance agreement with China International Capital Corporation Limited(601995) and officially entered the listing guidance period.
The reporter of shell finance and economics noted that although the listing process has only recently started, Wanxiang 123 has been low-key in the capital market all year round. It participated in the IPO strategic placement of Tengyuan cobalt industry (301219. SZ), which landed on the gem of Shenzhen Stock Exchange in March this year.
Wanxiang Qianchao Co.Ltd(000559) cheng’er’s shareholders started the listing guidance last year
Wanxiang Qianchao Co.Ltd(000559) ( Wanxiang Qianchao Co.Ltd(000559) . SZ) announced on March 28 that it plans to use the company’s own funds to transfer and subscribe the investment right (corresponding to RMB 4 billion) of Wanxiang 123’s registered capital held by Wanxiang Group, and fulfill the paid in investment obligation, of which RMB 320 million will enter the registered capital and RMB 3.68 billion will enter the capital reserve.
Wanxiang 123 Co., Ltd. was formerly A123, a lithium battery manufacturer established in the United States in 2001. Wanxiang Group acquired A123 as a whole in 2012 and concentrated its new technology and new product development functions in the United States. The manufacturing business was merged with the original battery production department of Wanxiang Group to become the battery production base of the group, with the focus shifted to China. At present, Wanxiang 123 has R & D, manufacturing bases and sales outlets in Michigan and Massachusetts, Hangzhou, China, Stuttgart, Germany and Ostrava, Czech Republic. Its headquarters is located in Hangzhou.
In recent years, with the rise of Chinese lithium battery giants such as Contemporary Amperex Technology Co.Limited(300750) ( Contemporary Amperex Technology Co.Limited(300750) . SZ), Wanxiang 123 also received orders from international automobile enterprises last year. In March 2021, Feng Sihan, CEO of Volkswagen Group (China), said that Volkswagen had confirmed Wanxiang 123 as the supplier of Volkswagen power battery and would start supplying it in the next two years.
Wanxiang 123 had previously started preparations for listing. In October 2021, Wanxiang 123 signed a listing guidance agreement with China International Capital Corporation Limited(601995) and officially entered the listing guidance period.
Regarding the investment in Wanxiang 123, Wanxiang Qianchao Co.Ltd(000559) said that in response to the call to accelerate the development of real economy, accelerate the strategic transformation of the company, actively promote the company’s strategy of investing in clean energy vehicle technology companies, and seize the broad development space of clean energy industry for coordinated development.
After the equity change, the shareholding ratio of Wanxiang Group to Wanxiang 123 decreased from 80.26% to 69.35%, and Wanxiang Qianchao Co.Ltd(000559) holding 10.91% is the second largest shareholder of Wanxiang 123.
Another shareholder of Wanxiang 123 holding more than 10% is ICBC Credit Suisse Investment Management Co., Ltd., with a shareholding ratio of 10.57%. The enterprise is a wholly-owned subsidiary of ICBC Credit Suisse fund, which is reported to be the first joint venture fund management company directly initiated and controlled by state-owned commercial banks, with Industrial And Commercial Bank Of China Limited(601398) and Credit Suisse holding 55% and 45% respectively.
Except Wanxiang Group, Wanxiang Qianchao Co.Ltd(000559) and ICBC Credit Suisse investment, the shareholding ratio of other shareholders of Wanxiang 123 is less than 4%, including banks and state-owned assets, such as CDB fund under China Development Bank, Industrial And Commercial Bank Of China Limited(601398) asset investment company under China Development Bank, investment platform of Qingdao state-owned assets holding, etc.
Low profile dormant capital market, a number of joint-stock enterprises are sprint IPO
Wanxiang Qianchao Co.Ltd(000559) is a listed company specializing in the production of auto parts under Wanxiang system. According to the performance forecast at the end of January, Wanxiang Qianchao Co.Ltd(000559) it is estimated that the net profit attributable to the parent company will reach 637 million yuan to 724 million yuan in 2021, with a year-on-year increase of 46% to 66%; The basic earnings per share is expected to be 0.193 yuan / share to 0.219 yuan / share Wanxiang Qianchao Co.Ltd(000559) said that during the reporting period, thanks to the overall recovery of the automobile market, China’s automobile production and sales increased significantly, the company overcame factors such as rising raw material prices, and achieved a steady improvement in production and operation through measures such as cost reduction and efficiency increase.
The reporter of shell finance and economics noted that although the listing process has only been started recently, Wanxiang 123 has been haunting the capital market with a low profile all year round.
According to the 2021 annual report of Guangzhou Tinci Materials Technology Co.Ltd(002709) ( Guangzhou Tinci Materials Technology Co.Ltd(002709) . SZ), Wanxiang 123 was the fourth largest shareholder holding 1.71% by the end of the period. Wanxiang 123 was originally a financial investor with Guangzhou Tinci Materials Technology Co.Ltd(002709) shareholding ratio of more than 5%. After that, it began to significantly reduce its holdings in 2020. It was said that the reason for the reduction was the capital demand for its own operation and development.
On March 17, Tengyuan cobalt industry (301219. SZ), which landed on the gem of Shenzhen Stock Exchange, disclosed that Wanxiang 123, as one of the enterprises with strategic cooperation relationship or long-term cooperation vision with the company’s business, participated in the IPO strategic placement of Tengyuan cobalt industry, with an allocation amount of 862200 shares, accounting for 2.74% of the shares issued by Tengyuan cobalt industry this time, with an allocation amount of 150 million yuan.
The prospectus of Hubei Wanrun New Energy Technology Co., Ltd., which is applying for listing on the science and innovation board, shows that Wanxiang 123 holds 4.0182% equity of the company and is the fifth largest shareholder.
In addition, Wanxiang 123 is also a minority shareholder of Zhejiang PavA new energy Co., Ltd. and Jiujiang Defu Technology Co., Ltd., both of which are sprinting for IPO, with a shareholding ratio of less than 2%.
