Lei Jianping on April 25
Guangzhou Ruxing Technology Co., Ltd. (hereinafter referred to as "Ruxing Technology") IPO was terminated a few days ago.
Ruxing Technology originally planned to raise 1.5 billion yuan, of which 623 million yuan was used for the industrialization construction project of high-performance crystalline silicon solar cell paste (the first phase of the project), 459 million yuan was used for the construction project of the R&D center, and 418 million yuan was used to supplement working capital.
Annual revenue of 2.8 billion
Founded in July 2000, Ruxing Technology is a leading electronic paste enterprise integrating R&D, production and sales, the company's main products are crystalline silicon solar cell aluminum paste, crystalline silicon solar cell back electrode paste, PERC aluminum paste, PERC battery back electrode paste, Topcon battery busbar electrode paste, silver aluminum paste, back fine grid electrode paste, XBC battery aluminum paste, busbar silver paste, fine grid silver paste, etc.
According to the prospectus, Ruxing Technology's revenue in 2020, 2021 and 2022 will be 2.196 billion yuan, 2.729 billion yuan and 2.832 billion yuan respectively, the net profit will be 225 million yuan, 223 million yuan and 356 million yuan respectively, and the net profit after deducting non-profits will be 211 million yuan, 297 million yuan and 330 million yuan respectively.
Ruxing Technology's revenue in the first half of 2023 will be 1.8 billion yuan, with a net profit of 199 million yuan, and a net profit of 195 million yuan after deducting non-profits.
Ruxing Technology's revenue in the first nine months of 2023 was 2.9 billion yuan, with a net profit of 306 million yuan, and a net profit of 300 million yuan after deducting non-profits.
The founder, Xu Xianchang, has passed away
The actual controller of Ruxing Technology is Xu Shan, who directly holds 26.2721% of the company's shares, Xu Jian entrusts him to exercise 9.4444% of the company's share voting rights, and maintains a consistent action relationship with Xia Guorui and Xu Jin, and controls a total of 50.4694% of the company's share voting rights.
Xu Xianchang, the original shareholder of Ruxing Technology, passed away on November 22, 2022, and his 110,844,500 shares of Ruxing Technology were inherited, and Xu Xianchang's spouse Jin Huizhen gave up his share of the joint property and the inheritable share and inherited it by his daughter Xu Shan and son Xu Jian.
According to the "Equity Distribution Agreement" signed by Jin Huizhen, Xu Shan and Xu Jian, Xu Shan obtained 76,844,500 shares and Xu Jian obtained 34 million shares.
Before the succession, Xu Jian did not hold any shares of the company, Xu Shan held 17,735,100 shares of the company, and after the succession, Xu insisted on 34 million shares of the company and Xu Shan held 94,579,600 shares of the company. Therefore, after inheriting the above-mentioned shares, only Xu Jian is the new natural person shareholder of the issuer.
Xu Jian is the elder brother of Xu Shan, the actual controller of Ruxing Technology, and Xu Jian entrusted Xu Shan to exercise 9.4444% of the company's share voting rights.
In addition, Liao Hui holds 13.1166%, Zhang Yuxin holds 12.7471%, Xia Guorui holds 12.536%, Zhang Weiguo holds 11.0844%, Zhuhai Langri holds 3.0578%, Chenrui Investment holds 3.0375%, Jingfa Pengcheng holds 1.6465%, and CITIC Securities Investment holds 0.8%;
Midea Industrial Investment and Meizhi Phase I hold 0.6351% of the shares, Liu Chuchu holds 0.5542% of the shares, Gejin Phase III and Zhongshan Public Utilities hold 0.45% of the shares, Chuangyu Mingxing holds 0.375% of the shares, Chuangyu Mingguang and Yinguan No. 1 hold 0.3% of the shares, Foshan Meixin holds 0.1411% of the shares, Hongteng No. 8 holds 0.115% of the shares, and Hongsheng Investment holds 0.085% of the shares.
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