On the 18th, Zhejiang Dun’An Artificial Environment Co.Ltd(002011) announced that Gree Electric Appliances Inc.Of Zhuhai(000651) terminated the planning agreement and transferred 9.71% of the company’s shares held by Dunan holdings. The trading of the company’s shares will resume from the opening of the market on May 19.
According to the announcement, Zhejiang Dun’An Artificial Environment Co.Ltd(002011) received the notice from the controlling shareholder Gree Electric Appliances Inc.Of Zhuhai(000651) of the company on May 11, 2022, and Gree Electric Appliances Inc.Of Zhuhai(000651) is planning to transfer 9.71% shares of the company held by Dunan Holdings (hereinafter referred to as “this agreement transfer”); Since Gree Electric Appliances Inc.Of Zhuhai(000651) has held 29.48% of the shares of Zhejiang Dun’An Artificial Environment Co.Ltd(002011) this agreement transfer will trigger the obligation of comprehensive tender offer (hereinafter referred to as “this tender offer”) Zhejiang Dun’An Artificial Environment Co.Ltd(002011) shares were suspended from the morning of May 12.
According to the notice of Gree Electric Appliances Inc.Of Zhuhai(000651) on the disposal of 9.71% of the company’s shares, Dunan Holdings has made a commitment to Gree Electric Appliances Inc.Of Zhuhai(000651) and shall not transfer the company’s shares held by Dunan holdings to a third party without informing Gree Electric Appliances Inc.Of Zhuhai(000651) in advance and obtaining Gree Electric Appliances Inc.Of Zhuhai(000651) written consent, except for centralized bidding, block trading with uncertain trading partners or being disposed through judicial channels.
During the suspension period, Gree Electric Appliances Inc.Of Zhuhai(000651) actively promoted the transfer of this Agreement and the relevant work of this tender offer, and actively negotiated, repeatedly discussed and communicated with relevant parties. However, as of the disclosure date of this announcement, Dunan holdings and Hangzhou branch of Zhejiang Commercial bank failed to effectively coordinate the parties to reach an agreement on the core terms of this agreement transfer according to the written and oral agreements and commitments made before the suspension. Based on the above, after careful study, Gree Electric Appliances Inc.Of Zhuhai(000651) decided to terminate the planning of this agreement transfer and this tender offer.
Zhejiang Dun’An Artificial Environment Co.Ltd(002011) is a leading enterprise in the global refrigeration components industry and one of Gree Electric Appliances Inc.Of Zhuhai(000651) important suppliers. On November 16, 2021, Gree Electric Appliances Inc.Of Zhuhai(000651) and Zhejiang Dun’An Artificial Environment Co.Ltd(002011) both announced that Gree intended to win the control of Zhejiang Dun’An Artificial Environment Co.Ltd(002011) which was deeply in debt difficulties by means of share transfer and private placement, with a total cost of 2.999 billion yuan.
In terms of performance, the net profit attributable to the owner of the parent company in Zhejiang Dun’An Artificial Environment Co.Ltd(002011) 2021 was 405 million yuan, with a net loss of 1 billion yuan in the same period of last year, turning losses into profits; The operating revenue was 9.837 billion yuan, a year-on-year increase of 33.28%; The basic earnings per share was 0.44 yuan, and the basic earnings per share in the same period of last year was -1.09 yuan.
In the first quarter of this year, Zhejiang Dun’An Artificial Environment Co.Ltd(002011) the net profit attributable to the owner of the parent company was 83.409 million yuan, a year-on-year decrease of 14.67%; The operating income was 2.011 billion yuan, a year-on-year decrease of 6.4%; The basic earnings per share was 0.09 yuan, a year-on-year decrease of 18.18%.
On May 11, Zhejiang Dun’An Artificial Environment Co.Ltd(002011) trading limit closed, with a closing price of 793 yuan and a total market value of 7.3 billion yuan. Based on this calculation, the market value of 9.71% of the shares is about 700 million yuan.
