On the evening of February 28, 2022, Yinyi Co., Ltd. (hereinafter referred to as "Yinyi Shares", stock code 000981) issued an announcement that the company has completed the capital reserve fund conversion plan in the reorganization plan, and after the completion of the conversion, Jiaxing Zihe Jinxin Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Zihe Jinxin") has become the new controlling shareholder of Yinyi Shares with a shareholding ratio of 29.89%.
The completion of this transfer announced that Yinyi shares will completely solve the historical problems such as capital occupation, debt default, performance commitment and other historical problems of major shareholders, and the crisis that began in 2018 has finally been resolved, and the former well-known local large-scale housing enterprise in Ningbo will officially move towards the road of nirvana rebirth.
The "serial increase" has completely solved the problems left over from history
In October 2020, Yinyi Co., Ltd. announced the "Reorganization Plan", which determined that Zihe Jinxin would be the company's restructuring investor, and the total investment quotation would be 3.2 billion yuan. As of December 2021, Zihe Jinxin has paid all 3.2 billion yuan of investment funds to the account of yinyi shares manager, and on February 28, 2022, zihe jinxin became the new controlling shareholder of yinyi shares with a shareholding ratio of 29.89%, and the actual controller Ye Ji also became the new actual controller of yinyi shares.
The entire reorganization process of Yinyi shares adopts the model of "continuous increase". Among them, the first increase was about 2.610 billion shares, and after the transfer of shares allocated to the original controlling shareholders and their controlling shareholders to complete the performance compensation, 1.178 billion shares were transferred by the original controlling shareholders and their controlling shareholders to the reorganization investors to solve historical problems, and 1.432 billion shares were distributed to other shareholders; the second increase was about 3.359 billion shares were transferred by all shareholders, of which 1.810 billion shares were used to introduce reorganization investors and 1.549 billion shares were paid off by way of equity payment. After the completion of the above-mentioned "serial increase", the problems of non-operating capital occupation and performance compensation performance of the original controlling shareholder and its related parties were completely solved. At the same time, the fundamentals of Yinyi shares will be fundamentally improved, and after gradually restoring the ability to continue to operate and profitability, it will return to a benign development track, and the shares of Yinyi shares held by all shareholders will become truly valuable assets.
Restructuring investors have strong strength and many forces to help enterprises to be reborn in nirvana
According to Tianyan, Zihe Jinxin is an equity investment partnership, established in August 2020 with a registered capital of 3.6 billion yuan, its executive partner is Chiji Holding Group, and the actual controller is Ye Ji, a post-80s Ningbo entrepreneur. From the perspective of the establishment time and the amount of capital contribution, Zihe Jinxin can be said to be an equity investment institution set up for the reorganization of Yinyi shares. In addition to the 1.25 billion yuan contributed by Chiji Holding Group, the two major shareholders of Geely Milestone Investment Co., Ltd. and Qingdao Haili Huiyin Investment Partnership (Limited Partnership) contributed 300 million yuan and 800 million yuan respectively, which are under the umbrella of Geely Holdings and Qingdao Haier, a fortune-500 company, respectively, and Ningbo Yingong Venture Capital Partnership (Limited Partnership) contributed 900 million yuan, and the shareholder is under the Ningbo State-owned Assets Supervision and Administration Commission. It can be seen that in the process of restructuring Yinyi shares, two private enterprise giants with great strength and influence in the domestic science and technology field and the local state-owned assets in Ningbo have played an active role.
At the same time, Ye Ji, the actual controller of Zihe Jinxin, has been elected as the new chairman of Yinyi Shares, who has rich experience in mergers and acquisitions and integration, and believes that this young helmsman will bring new momentum to the future development of Yinyi Shares. There is reason to believe that the entry of Zihe Jinxin is not only to help Yinyi shares solve the previous debt crisis, but also to plan the future development blueprint and continuous help for Yinyi shares.
It is also worth noting that in the process of compensating the occupied funds in the early stage, the original controlling shareholder of Yinyi Shares has transferred 100% of the equity of Prisseth held by it to Yinyi Shares, and the core assets of Prisces are 19.72% of the equity of Kangqiang Electronics (stock code 002119), and Yinyi Shares has long incorporated Kangqiang Electronics into its business map. Just when the dust settled on the reorganization of Yinyi shares, Kangqiang Electronics was also simultaneously promoting the "blood exchange" work of the board of directors, and it issued an announcement on February 18 that the company's board of directors nominated 7 new director candidates, of which Ye Ji ranked first among the candidate directors, and Ye Ji was very likely to become the chairman of the second listed company. According to the data, Kangqiang Electronics is a high-tech enterprise specializing in the development, production and sales of various types of semiconductor packaging materials such as lead frames and bonding wires, and is expected to achieve a net profit of 175-200 million yuan in 2021, a pre-increase of 99.02%-127.45%. In the case of the global "lack of core tide" continues to promote the high prosperity of the semiconductor industry, Kangqiang Electronics has broad future development prospects and high investment value, and the injection of this high-quality asset will provide a strong impetus for the future performance growth of Yinyi shares and the coordinated development of the industrial chain.
For many years, we have continued to cultivate high-quality resources to lay a good foundation for development
Yinyi shares started from the real estate business, the company began the transformation in 2016, officially entered the high-end manufacturing of this national strategic emerging industry, and has completed the acquisition of the United States ARC Group and Belgium Punch Power and other enterprises, in the automotive core parts industry chain sector has accumulated sufficient high-quality resources, which has laid a solid foundation for its full entry into the field of new energy vehicles.
According to the data, Bangqi Power, a subsidiary of Yinyi Co., Ltd., is a world-renowned independent manufacturer of automotive automatic transmissions, and in recent years, in addition to the original fist products, stepless transmissions, it is actively laying out new energy products such as hybrid and pure electric. Its joint venture with PSA, the second largest automaker in Europe, in 2019, focuses on the research and development of an electrified dual-clutch automatic transmission (DT2), which is about to enter mass production, and Bunge Power has completely independent intellectual property rights to the product, and with the merger of PSA And Fiat Chrysler (FCA) to become one of the world's top four automaker groups, Stellantis, Bunker will gradually open up the European and North American markets with high-quality hybrid dual-clutch transmissions and further cooperate with Stellantis in the field of pure electric powertrains. At the same time, Bunge and NIO's Azura Power have established a joint venture company, and in 2021, more than 100,000 sets of pure electric vehicle reducers have been mass-produced, thus successfully entering the domestic pure electric vehicle market; in addition, after cooperating with India's Tata Group to supply dual-clutch automatic transmissions (DT1), Bunge has basically achieved global strategic deployment with a rich product matrix layout. Another asset under Yinyi Co., Ltd. is the world's second largest independent gas generator manufacturer, mainly producing passenger airbag gas generators, driver airbag gas generators and other gas generators such as side airbags, air curtains, knee airbags and other gas generators, with strong technical advantages and rich customer accumulation, and can flexibly adjust product design according to customer needs.
Deepen foreign strategic cooperation and seek breakthrough development in the field of new energy
In strategic emerging industries such as new energy vehicles, Yinyi shares are still seeking further breakthroughs through strategic cooperation.
On February 11, Yinyi Co., Ltd. issued an announcement on cooperation and foreign investment with professional institutions, saying that it had established a joint venture operation service provider with the local AMC Zhejiang Zheshang Asset Management Co., Ltd. and Beijing Beikong City Development Group Co., Ltd., a subsidiary of the Beijing State-owned Assets Supervision and Administration Commission, and all parties actively played the advantages of investment management in the field of industrial introduction, resource integration and non-performing assets, not only to give full play to the company's industrial advantages in the field of real estate development and high-end manufacturing, but also to actively explore new energy vehicles, semiconductors, Deeper cooperation in the fields of mergers and acquisitions.
On the evening of March 2, Yinyi co., Ltd. once again made a more strategic deployment, and the company issued an announcement that it signed a Memorandum of Understanding with the manager of Zhidou Electric Vehicle Co., Ltd. (hereinafter referred to as "Zhidou Automobile") to invest no more than RMB400 million to participate in the restructuring and reorganization plan change process of Zhidou Automobile. According to the announcement, Zhidou Automobile is one of the only 8 enterprises in the country that have passed the review of the National Development and Reform Commission and the Ministry of Industry and Information Technology with independent and complete new energy vehicle production qualifications; as the forerunner and promoter of New Energy Vehicles in China, Zhidou Automobile's business covers electric vehicle research and development, production, sales, operation, etc., and currently has more than 100 patents at home and abroad, has obtained the EU E-MARK, CE certification, and has successfully entered Italy, France, Spain and other European and American countries, and has been widely recognized by the international market. The outside world believes that this move is an important strategic deployment made by Yinyi Co., Ltd. based on its own advantages in the field of new energy vehicles, and it is expected to form a significant synergy effect with its existing auto parts manufacturing business.
Strategic transformation is just in time for "forward-looking layout + capital support" to look forward to the future
From the macroeconomic background of new energy vehicles becoming the focus of national strategy, the strategic transformation of Yinyi shares can be described as timely. The "New Energy Vehicle Industry Development Plan (2021-2035)" issued by the General Office of the State Council clearly states that by 2025, the sales of new energy vehicles will account for about 20%; while the "Energy-saving and New Energy Vehicle Technology Roadmap 2.0", which is guided by the Ministry of Industry and Information Technology and revised by the Society of Automotive Engineers of China, proposes that the automobile industry will achieve electrification by 2035, and the sales of energy-saving vehicles and new energy vehicles will account for 50% each. Relevant data show that the current cumulative investment in the whole industry chain of new energy vehicles in mainland China has exceeded 2 trillion yuan. With the blessing of a series of national sub-policy dividends, the domestic new energy automobile industry will surely usher in a period of rapid development.
With the completion of this transfer, Yinyi shares, which have been re-launched with light equipment, have begun to frequently layout in the field of new energy vehicles. Its controlling shareholder, Zihe Jinxin, not only fully demonstrated its strong capital operation and resource integration capabilities to the outside world during the reorganization process, but also made forward-looking deployments in many related business areas of Yinyi Shares. It is reported that in the field of automotive chips, Ye Ji, the new head of Yinyi Shares, has a total investment of 10.6 billion yuan to build jiaxing industrial park in The city, and it is expected to achieve business synergy with Kangqiang Electronics, the leader in the semiconductor packaging materials subdivision industry, in the future. At the same time, Zihe Jinxin has established a long-term strategic cooperative relationship with Geely, Haier and other giants in the automobile and technology industries, and with the capital strength and resource support of the two industry giants and multi-party state-owned assets behind Zihe Jinxin, relying on its own technology accumulation and customer reserves in pure electricity and hybrid electrification for many years, it can be fully expected that Yinyi shares will show its grand plans in the field of new energy vehicles in the future.