According to the annual report of 2021 disclosed on the evening of Anhui Andeli Department Store Co.Ltd(603031) 7, achieved an operating revenue of 1.677 billion yuan, a year-on-year decrease of 5.01% ; The net loss attributable to shareholders of listed companies was 512826 million yuan, compared with 6.5914 million yuan in the same period of last year, with a year-on-year increase of 678.03%.
Anhui Andeli Department Store Co.Ltd(603031) analysis shows that the main reasons for the decline are as follows: (1) the double impact of e-commerce and covid-19 epidemic has caused a huge impact on department store retail entities, and the main business income has decreased by about 5% year-on-year; （2） The labor cost increased significantly, mainly due to the increase in the number of employees, and the per capita cost of employees also increased compared with the previous year; （3） In 2021, 7 new stores were added, increasing the opening and operating expenses; （4） in 2021, the company implemented major asset restructuring, which increased the restructuring costs such as intermediary fees, with an increase of about 20.5 million yuan
With regard to the implementation of major asset restructuring, Anhui Andeli Department Store Co.Ltd(603031) mentioned in the annual report that on September 10, 2021, the company held the fourth meeting of the Fourth Board of directors, reviewed and agreed that the company signed the share transfer framework agreement with Ningbo Yafeng, jiaoshuge (Jiao shuge) and Chen Xuegao; The company purchased 36% equity of Yajin technology from Ningbo Yafeng in cash and sold 100% equity of Anhui Andeli Department Store Co.Ltd(603031) industry and trade to Chen Xuegao in cash. After that, Ningbo Yafeng irrevocably entrusted the voting rights corresponding to its 563 million shares (accounting for 15% of the total share capital of Yajin Technology) to Anhui Andeli Department Store Co.Ltd(603031) exercise.
Zhongxin Jingwei noted that on November 17, 2021, Anhui Andeli Department Store Co.Ltd(603031) disclosed the report on the purchase and sale of major assets and related party transactions (Draft), which showed that with reference to the assessed value, after friendly negotiation between the listed company and the counterparty Ningbo Yafeng, determined that the transaction price of 36% equity of Yajin technology was 2.4 billion yuan
For Anhui Andeli Department Store Co.Ltd(603031) with an operating revenue of 1.677 billion yuan in 2021, it is a real “snake swallowing an elephant” to spend 2.4 billion yuan to acquire 36% equity of Yajin technology. In this regard, Anhui Andeli Department Store Co.Ltd(603031) explained that the core asset of Yajin technology is Nanfu battery , which is mainly engaged in the research and development, production and sales of batteries. As an advanced battery technology company in China, Nanfu battery focuses on the battery industry and has a great advantage in China’s alkaline battery market.
Anhui Andeli Department Store Co.Ltd(603031) pointed out that through this transaction, the company will realize the transformation from the traditional department store industry to the battery industry with large market scale and broad development prospects, quickly cut into the high-quality track, obtain a relatively leading market position, bring stable operating income and profits, and help to improve the asset quality, overall sustainable profitability and future development potential of the company.
It is worth mentioning that on the afternoon of March 10, Anhui Andeli Department Store Co.Ltd(603031) held the first extraordinary general meeting of shareholders in 2022. The announcement that night showed that the general meeting of shareholders passed the proposal on increasing the seats on the board of directors, changing the business scope and amending the articles of association, as well as the proposal on the election of directors and supervisors. Among them, Liu Ronghai and Kang Jinwei were elected as directors and pan Tingting was elected as supervisor. All three have background related to Nanfu battery.
According to media reports at that time, Anhui Andeli Department Store Co.Ltd(603031) chairman Xia Zhubing said that since the new board of directors has not been established, there is no new plan for the company’s future development strategy, but the first thing is to do a good job in the operation of Nanfu battery itself.
For the rumored news that Nanfu battery will transform to lithium battery in the market, Xia Zhubing said: “Nanfu battery has no plan to transform to lithium battery at present. If Nanfu battery transforms, it actually has the ability of investment and financing as an independent company. Of course, listed companies may also support it as shareholders, but there is no inevitable relationship between the funds of listed companies and Nanfu battery.”
According to the data, on April 7, Anhui Andeli Department Store Co.Ltd(603031) opened high and went low, falling 1.10% to 43.21 yuan as of the closing.
