Dingge estimates that Huaan Securities Co.Ltd(600909) controlling shareholders and persons acting in concert plan to reduce the market value of their shares by about 880 million yuan.
According to the announcement on April 11, Huaan Securities Co.Ltd(600909) controlling shareholders and three persons acting in concert plan to reduce their total holdings of Huaan Securities Co.Ltd(600909) shares of no more than 179 million shares through centralized bidding and block trading within six months, that is, no more than 3.80% of the total shares. According to the estimation of Huaan Securities Co.Ltd(600909) latest closing price of 4.93 yuan / share, the market value of this share is about 880 million yuan.
At the same time, Huaan Securities Co.Ltd(600909) also said that the term of office of the third board of directors and the board of supervisors would expire on April 19. However, in view of the fact that the term of office of the third board of directors and the board of supervisors is still under preparation, in order to ensure the continuity of work, the term of office of the special committees of the board of directors and senior managers will be postponed accordingly. On April 1, Huaan Securities Co.Ltd(600909) announced that general manager Yang Aimin resigned as general manager and relevant decision-making bodies for “personal reasons”, and Chairman Zhang Hongtao performed the duties of general manager on behalf of him.
four shareholders reduced 179 million shares
According to the announcement, the four shareholders participating in the reduction of Huaan Securities Co.Ltd(600909) are: the controlling shareholder Anhui state owned capital operation Holding Group Co., Ltd. (hereinafter referred to as “Anhui state control”), and its three concerted actors Anhui jiaokong Capital Investment Management Co., Ltd. (hereinafter referred to as “Anhui jiaokong”), Anhui Energy Group Co., Ltd. (hereinafter referred to as “Anhui energy”), An Hui Wenergy Company Limited(000543) (hereinafter referred to as ” An Hui Wenergy Company Limited(000543) ).
Among them, Anhui state holding holds 1.182 billion shares, with a shareholding ratio of about 25.16% An Hui Wenergy Company Limited(000543) holds 260 million shares, with a shareholding ratio of 5.53%; Anhui traffic control and Anhui energy hold 176 million shares and 125 million shares respectively, with shareholding ratios of 3.74% and 2.67% respectively, both of which are shareholders of less than 5%. Overall, Anhui state control and its concerted actors held a total of 1.743 billion shares, all of which were tradable shares with unlimited conditions, with a total shareholding ratio of 37.10%.
According to the above four shareholders, due to their “own capital needs”, it is planned to reduce the total holdings of no more than 179 million shares through centralized bidding and block trading from May 6, 2022 to November 6, 2022, that is, no more than 3.80% of the total shares. During the reduction period, if there are ex rights and ex interests matters such as dividend distribution, share conversion, share distribution and share allotment, the number of shares reduced will not be adjusted.
Specifically, Anhui state control plans to reduce its holdings of no more than 50 million shares by block trading, An Hui Wenergy Company Limited(000543) plans to reduce its holdings of no more than 70.465 million shares by centralized bidding, Anhui traffic control plans to reduce its holdings of no more than 34.737 million shares by centralized bidding, and Anhui energy plans to reduce its holdings of no more than 234883 million shares by centralized bidding. Among them, the shares to be reduced by Anhui state control and Anhui communications control are from the subscription of allotment, while the shares to be reduced by An Hui Wenergy Company Limited(000543) , Anhui energy are obtained before the IPO.
Huaan Securities Co.Ltd(600909) said in response that the share reduction plan is the normal reduction behavior of Anhui state control and its persons acting in concert, and will not have a significant impact on the governance structure and future sustainable operation of the listed company, and the implementation of the share reduction plan will not lead to the change of the company’s control.
the term of office of directors, supervisors and senior executives shall be postponed
At the same time, Huaan Securities Co.Ltd(600909) also announced that the board of directors and the board of supervisors would be postponed.
According to the time calculation, the term of office of Huaan Securities Co.Ltd(600909) the third board of directors and the board of supervisors will expire on April 19. However, as “the change of the board of directors and the board of supervisors of the company is still under preparation”, in order to ensure the continuity of the work of the board of directors and the board of supervisors, Huaan Securities Co.Ltd(600909) the board of directors and the board of supervisors will be postponed, and the term of office of each special committee of the board of directors and senior managers will be postponed accordingly.
Huaan Securities Co.Ltd(600909) said that it would actively promote the work process of the board of directors and the board of supervisors, and fulfill the corresponding information disclosure obligations in a timely manner. Before the completion of the general election of the third board of directors, the board of supervisors and the senior management of the company, they will continue to perform their corresponding duties in accordance with the relevant provisions of laws, regulations and the articles of association.
It is worth mentioning that on April 1 not long ago, Huaan Securities Co.Ltd(600909) once announced that general manager Yang Aimin resigned for “personal reasons”, and Chairman Zhang Hongtao will temporarily perform the duties of general manager for a period of no more than 6 months The board of directors said that Yang Aimin’s resignation did not affect the normal development of the company’s management, and that Yang Aimin would not be affected by his resignation.
The Chinese reporter of the securities company learned that as an old man of Huaan Securities Co.Ltd(600909) the company, Yang Aimin is familiar with the company’s business and has rich management experience. As early as December 2012, Yang Aimin was employed as Huaan Securities Co.Ltd(600909) general manager assistant to actually perform senior management responsibilities and participate in the division of labor and decision-making of operation and management.
Yang Aimin has been in charge of Huaan Securities Co.Ltd(600909) brokerage business since February 2013; In June 2015, he turned to be responsible for the investment banking business. During the two periods of office, the business income of relevant lines increased significantly, which laid the foundation for later becoming the general manager. Finally, in June 2018, Yang Aimin was employed as general manager by Huaan Securities Co.Ltd(600909) for nearly four years.
Compared with the annual report data, in the four years since Yang Aimin became the general manager of Huaan Securities Co.Ltd(600909) from 2018 to 2021, the operating revenue of Huaan Securities Co.Ltd(600909) increased by 98% from RMB 1.761 billion to RMB 3.483 billion; The net profit increased from 554 million yuan to 1.424 billion yuan, an increase of 157%. At the same time, thanks to the efforts of issuing 2.8 billion convertible bonds in 2020 and 3.95 billion share allotment financing in 2021, the total assets of Huaan Securities Co.Ltd(600909) increased by 66% from 44.412 billion yuan at the end of 2018 to 73.641 billion yuan at the end of 2021, and the capital strength was further strengthened.
