An equity transaction involving 3 listed companies surfaced today.
Borche Technology announced that the company's controlling shareholder and actual controller ZHUWEI (chairman and general manager) and his spouse WANGXIAOHONG (Wang Xiaohong), more than 5% of the shareholders Ding Yong (vice chairman and executive deputy general manager) and his spouse JIANGRONGZHI (Jiang Rongzhi) and Tiantong shares intend to transfer a total of 22.12 million shares of the company 's shares held by them (accounting for 12.72% of the total share capital of the company before the completion of the transaction) to Changfei Optical Fiber, and ZHUWEI ( Zhu Wei) signed the Voting Rights Proxy Agreement with Changfei Optical Fiber.
After the completion of the transaction, the proportion of shares in which Changfei Optical Fiber can control the voting rights of the listed company is 25.43%, becoming the controlling shareholder and actual controller of Borche Technology, and Tiantong shares will completely withdraw.
The share transfer price is 40 yuan per share, with a total amount of 885 million yuan. According to the special agreement, under the condition that the delivery conditions are met, Changfei Optical Fiber will pay a one-time performance bonus of 143 million yuan to ZHUWEI (Zhu Wei) as part of the transaction price agreed in this agreement. Based on this, the total price of the share transfer in this transaction is about 1.028 billion yuan.
After the resumption of trading today, Borche Technology opened with a limit of up and down, and then opened high and went low, closing up 7.03%, closing price of 28.76 yuan, equivalent to 30% off the purchase price of 40 yuan, and the company's latest market value is 5 billion yuan.
Located in Nanhu, Jiaxing, Borche Technology was listed on the Gem Board in 2016, mainly engaged in integrated optoelectronic devices in the field of optical communication.
Tiantong co., Ltd. is located in Haining, Jiaxing, listed in 2001, mainly engaged in electronic materials, high-end special equipment.
Changfei Optical Fiber is located in Wuhan, Hubei Province, in 2014 and 2018 respectively listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange, the main optical fiber and optical fiber preforms, optical cables, is a Sino-foreign joint venture, Long representative of Yangtze River Communications, Fei represents Philips.
Borche Technology is another listed company in Jiaxing that has changed its actual control after Zhejiang Zhongcheng changed owners and Changed German capital last year, and it is also a rare case of a returnee startup in China.
Zhu Wei, the founder of Borche Technology, is a U.S. citizen with permanent residency in the United States, born in 1963, graduated from Pennsylvania State University with a doctorate degree in solid state science. He has served as a visiting assistant professor in the Department of Materials at North Carolina State University, a part-time visiting researcher at CSMSpA in Italy, a researcher at Bell Labs at AT&T, a bell labs researcher at Lucent Technologies, and a researcher at Gyśr Systems.
Ding Yong, another founder of the company, is the same age as Zhu Wei, and graduated from the Shanghai Institute of Optics and Fine Mechanics, Chinese Academy of Sciences, majoring in optical materials, with a doctorate degree. He has served as an assistant researcher at the Shanghai Institute of Optics and Fine Mechanics, an assistant professor at Okayama University in Japan, a researcher at the University of Arizona, a chief engineer at Intel Corporation, and a chief engineer at JDSU.
In June 2003, Tiantong Co., Ltd., Dongfang Communications, Paradise Silicon Valley, Zhu Wei and Ding Yong jointly established Borche Technology, with a total investment of 53 million yuan and a registered capital of 40 million yuan.
13 years later, Borche Technology landed on the Shenzhen Stock Exchange and became the third GEM listed company in Jiaxing, with Tiantong and Orient Communications holding 13.31% and 11.77% of the shares respectively.
After the listing, Borche Technology as a whole was lackluster. In 2018 and 2019, it almost lost money, and the net profit in 2021 exceeded 100 million yuan for the first time. After 5 years of listing, the company only paid dividends of 0.46 billion yuan.
After continuous reduction of holdings, by February this year, the shares of Oriental Communications and Tiantong had dropped to 6.57% and 5.27% respectively.
The liquidation transfer of equity, Tiantong shares will cash out 367 million yuan, close to the 2021 net profit of 415 million yuan.