On January 24, Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) (301068. SZ), which was suspended and restructured in a hurry within four months of listing, announced the plan for issuing shares to buy assets and raising supporting funds and related party transactions (hereinafter referred to as the "plan").
The plan shows that Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) plans to purchase 100% equity of Zhejiang tiger environment Co., Ltd. (hereinafter referred to as "tiger environment") by issuing shares and paying cash. The transaction price of the underlying assets of the reorganization has not been finalized. It is expected that this transaction will constitute a major asset reorganization of the listed company.
The interface news reporter noted that this transaction is divided into two parts. Among them, the company purchased 93.50% of the total equity of tiger environment from Tang Weizhong, Jiuyin partnership, Zhang Jielai and Tang Yuyang by issuing shares. Tang Weizhong and Zhang Jielai are the actual controllers of Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) , Tang Yuyang is the daughter of the two, and Jiuyin partnership is the enterprise controlled by Tang Weizhong. The other part of the remaining 6.50% equity is purchased by the listed company by issuing shares and paying cash.
The announcement shows that the issuing price of the shares involved in the issuance of shares and the payment of cash for the purchase of assets is determined to be 25.28 yuan / share, which is nearly 23% lower than the 32.82 yuan before the stock suspension.
Affected by this news, there were differences in Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) funds after the opening on January 24, opening 15.75% higher. Then it fluctuated all the way and fell for a time, finally closing at 34.71 yuan, an increase of 5.76%. On that day, the turnover rate of the stock was as high as 32.56%, with a turnover of 58300 hands and a turnover of 206 million yuan.
According to the data, Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) is mainly engaged in e-waste business, resource utilization of hazardous waste and harmless disposal services of hazardous waste. It landed on the gem of Shenzhen Stock Exchange on September 28, 2021 and has been listed for less than 4 months.
As a brother company of Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) , huge environment also focuses on the recycling industry of waste resources, mainly providing operation services for residents' domestic waste classification and recycling and resource utilization for the construction of waste free cities. From January to June in 2019, 2020 and 2021, tiger environment achieved unaudited operating revenue of about 207 million yuan, 268 million yuan and 168 million yuan respectively, and unaudited net profit of about 12 million yuan, 45 million yuan and 25 million yuan.
It is worth mentioning that this Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) rush to start the restructuring also seems to be intended to save the rapidly declining performance after the listing. The financial report shows that from 2018 to 2020 before the listing, earth environment achieved revenue of 328 million yuan, 448 million yuan and 478 million yuan, and net profit of 65.185 million yuan, 61.9119 million yuan and 79.1668 million yuan in the same period.
The third quarterly report of 2021 shows that during the reporting period, the company achieved a revenue of 340 million yuan, a slight increase of 0.11% year-on-year, a net profit of 30.8102 million yuan, a year-on-year decrease of 47.35%, and a net profit of 29.8648 million yuan after deduction, a year-on-year decrease of 32.93%. There has been a big decline in performance.
In contrast, thanks to the rapid implementation of household waste classification, the business volume of tiger environment shows an increasing trend. According to the statistics of relevant government bidding information, tiger environment won the bid for waste classification and recycling project in 2021, with a total amount of more than 600 million yuan.
Hangzhou Dadi Haiyang Environmental Protection Co.Ltd(301068) said that tiger environment and the company focus on the recycling industry of waste resources. By combining big data, Internet of things, Internet and other technologies with residents' domestic waste classification, recycling and resource utilization business, tiger environment has established a whole chain system of domestic waste classification and treatment. After the completion of this transaction, listed companies can quickly enter the fast-growing blue ocean market of household waste classification, recycling and resource utilization.
After the completion of this transaction, the classified recycling and resource utilization of household garbage is expected to become a new profit growth point of listed companies.
In addition, in terms of supporting fund-raising, the listed company plans to raise supporting funds by non-public offering of shares to no more than 35 specific objects, the number of shares issued shall not exceed 30% of the total share capital of the listed company before the issuance, and the total amount of supporting funds raised shall not exceed 100% of the transaction price of purchasing assets by issuing shares in this transaction.
After deducting the issuance expenses and other relevant expenses, the raised matching funds are intended to be used to pay the cash consideration (if involved), the project construction investment of the target company, supplement the working capital or repay the debt of the listed company / target company, and the proportion used to supplement the working capital or repay the debt will not exceed 25% of the transaction price, Or no more than 50% of the total amount of supporting funds raised.
