Yangtze River Business Daily reporter Xu Jia
The operating pressure has not decreased, and Chengbang shares (603316. SH) The actual controller and his wife promoted the equity transfer to reduce pressure.
On the evening of May 6, Chengbang shares disclosed changes in shareholders' rights and interests, and Li Min, one of the company's controlling shareholders and actual controllers, planned to transfer 13.5303 million shares of the company to Ningbo Ningju Asset Management Center (Limited Partnership) - Rongtong No. 5 Securities Investment Fund (hereinafter referred to as "Ningbo Ningju"), accounting for 5.12% of the company's total share capital.
The Yangtze River Business Daily reporter noticed that since the second half of 2023, Fang Liqiang, the actual controller of Chengbang shares, and his concerted actor, his wife Li Min, have planned to transfer the company's shares many times. Among them, at the beginning of 2024, Li Min terminated an 8% share transfer.
If the transaction between Li Min and Ningbo Ningju is completed, Fang Liqiang and Li Min will cash out a total of about 179 million yuan through two equity transfers in nearly a year.
It is worth noting that in recent years, Chengbang shares have been under great pressure. Following the first loss in 2022, Chengbang will achieve operating income of 448 million yuan in 2023, a year-on-year decrease of 43.94%; The net profit (net profit, the same below) attributable to shareholders of listed companies was 108 million yuan, an increase of 95.14% year-on-year, and a cumulative loss of 163 million yuan in two years.
In this regard, Chengbang said that it was mainly affected by factors such as the macroeconomic environment and the industry environment, with fewer new orders, a decline in the scale of operating income, an increase in the proportion of costs and expenses, and an impact on the impairment loss of the asset group.
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The actual controller and the person acting in concert plan to transfer 5.12% of the shares
According to the transaction plan, Li Min, the controlling shareholder and one of the actual controllers of Chengbang Co., Ltd., intends to transfer 13.5303 million shares of the company's unrestricted tradable shares (accounting for 5.12% of the company's total share capital) held by him to Ningbo Ningju at a price of 3.87 yuan per share, with a transfer price of 52.3623 million yuan.
Before this change in equity, Fang Liqiang, his concerted actor and his wife Li Min controlled a total of 107 million shares of the listed company, accounting for 40.31% of the company's total share capital. Among them, Fang Liqiang, the controlling shareholder and actual controller, directly or indirectly holds 26.62% of the shares of the listed company.
After this change in equity, Fang Liqiang and Li Min, who acted in concert, controlled a total of 92.993 million shares of the listed company, accounting for 35.19% of the company's total share capital. Among them, Fang Liqiang's direct or indirect shareholding ratio is still 26.62%. Ningbo Ningju will hold 13.5303 million shares of the listed company, accounting for 5.12% of the company's total share capital.
The Yangtze River Business Daily reporter noticed that since the second half of 2023, Fang Liqiang and Li Min have planned to transfer the equity of listed companies many times.
In July of that year, Chengbang disclosed that Li Min planned to transfer 21,141,100 shares of the company (accounting for 8% of the company's total share capital) to Nanfeng Galaxy Dance Capital Management Partnership (Limited Partnership) (hereinafter referred to as "Galaxy Dance Capital") at a price of 5.99 yuan per share, with a transfer price of about 127 million yuan.
At the same time, Fang Liqiang also plans to transfer his 21,141,100 shares of Chengbang shares (accounting for 8% of the company's total share capital) to Lanxi Qinyun Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Lanxi Qinyun"), with a transaction price of 127 million yuan.
Before the above transaction, Fang Liqiang and Li Min directly held 34.62% and 13.69% of the shares of Chengbang respectively, and were the top two shareholders of the company. After the completion of the above-mentioned share transfer, Fang Liqiang and Li Min's shareholding in Chengbang shares will drop to 26.62% and 5.69% respectively.
However, at the beginning of 2024, due to the arrangement of Galaxy Dance Capital and other reasons, Li Min terminated the transfer of shares of listed companies to him.
Not only that, a supplementary agreement was also signed for the share transfer between Fang Liqiang and Lanxi Qinyun. Among them, in terms of the arrangement of the payment time, the two parties to the transaction agreed that after the approval of China Securities Deng, when Lanxi Qinyun pays 90% of the total amount, the two parties will go through the registration procedures for the transfer of the underlying shares. In addition, the two parties have also made adjustments to the timing of Lanxi Qinyun, as a long-term strategic investor, who will exercise the right to make proposals, votes, and nominate directors in accordance with the law, and actively participate in the corporate governance of listed companies.
If the transaction between Li Min and Ningbo Ningju is completed, Fang Liqiang and Li Min will cash out a total of about 179 million yuan in these two transactions.
Lost money for two years in a row
In the short term, it plans to sell the equity of the listed company twice, and Li Min said that the transaction is mainly based on the transfer of part of the company's shares according to its own capital needs.
The Yangtze River Business Daily reporter noted that at present, among the 70,344,300 shares of Chengbang shares directly held by Fang Liqiang, 41 million shares have been pledged by financing, accounting for 58.28% of the total shares of the company held by him, accounting for 38.47% of the total shares held by the two, and 15.51% of the total share capital of Chengbang shares.
It is worth noting that in recent years, Chengbang shares have been under great pressure. According to the data, Chengbang Co., Ltd. is a comprehensive service operator of the whole industrial chain ecological environment integrating planning and design, engineering construction, seedling planting, scientific and technological research and development, industrial investment, construction, operation and management. In June 2017, Chengbang shares were listed on the main board of the Shanghai Stock Exchange.
In the first year of listing, the performance of Chengbang shares reached the highest peak. In 2017, the company's operating income and net profit were 743 million yuan and 68.488 million yuan respectively. Since 2018, affected by various factors such as the slowdown in the construction progress of PPP projects and the rise in costs, the performance of Chengbang shares has begun to decline. In 2018 and 2019, although the company's operating income increased to 771 million yuan and 907 million yuan, the net profit was 56.1039 million yuan and 31.5333 million yuan, a year-on-year decrease of 18.08% and 43.79%.
In 2020, the performance of Chengbang Co., Ltd. stopped falling and rebounded, with the current operating income and net profit of 1.147 billion yuan and 41.4199 million yuan respectively, a year-on-year increase of 26.52% and 31.35%. In 2021, the performance of Chengbang shares fell again, and in 2022, it fell into a loss.
From 2021 to 2023, Chengbang Co., Ltd. will achieve operating income of 1.314 billion yuan, 800 million yuan, and 448 million yuan respectively, a year-on-year increase of 14.51%, -39.13%, and -43.94%; The net profit was 21.9313 million yuan, -55.3919 million yuan and -108 million yuan, a year-on-year decrease of 47.05%, 352.57% and 95.14%. Among them, in 2022 and 2023, Chengbang shares have lost money for two consecutive years, with a cumulative loss of about 163 million yuan.
For the expansion of losses in 2023, Chengbang said that it was mainly affected by factors such as the macroeconomic environment and industry environment, with fewer new orders, a decrease in the scale of operating income, and an increase in the proportion of costs and expenses; In addition, in accordance with the relevant requirements of the accounting standards for business enterprises, impairment losses are made on asset groups such as accounts receivable and goodwill, resulting in an estimated loss in the company's 2023 annual results.
In the first quarter of 2024, Chengbang Co., Ltd. achieved operating income of 50.7848 million yuan, a year-on-year decrease of 53.24%; The net profit loss was 2.8899 million yuan, a year-on-year decrease of 7.88%. During the reporting period, Chengbang Co., Ltd. and its subsidiaries signed 18 new project contracts, with a total amount of 113 million yuan. In the same period last year, Chengbang and its subsidiaries signed 24 new project contracts, with a total amount of 279 million yuan.
Chengbang said that while maintaining the existing environmental construction business operation, the company intends to enter the "new infrastructure" and "specialized, refined, special and new" related industries with high technical content and relatively good cash flow through investment and mergers and acquisitions, so as to add new impetus to the company's long-term development.
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