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Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

author:Thunder delivery
Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

Lei Jianping on May 11

Anhui Tangxing Equipment Technology Co., Ltd. (hereinafter referred to as "Tangxing Technology") IPO was terminated a few days ago.

Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

Tangxing Technology has planned to raise 426 million yuan, of which 228 million yuan will be used for trenchless complete equipment industrialization projects, 48 million yuan will be used for the construction of R&D centers, 80 million yuan will be used for trenchless equipment parts production line transformation projects, and 70 million yuan will be used to supplement working capital.

The annual revenue is 320 million

Tangxing Technology Co., Ltd. is an enterprise specializing in the research and development, design, manufacturing, sales, leasing and service of trenchless complete sets of equipment, the main products are complete sets of pipe jacking equipment, which are used in excavation operations in a variety of complex geology and application scenarios such as municipal pipe network, urban rail transit, underground comprehensive pipe gallery, oil and gas pipeline network and diversion tunnel.

According to the prospectus, Tangxing Technology's revenue in 2020, 2021, and 2022 will be 231 million yuan, 278 million yuan, and 323 million yuan respectively; the net profit was 64.159 million yuan, 58.716 million yuan and 66.955 million yuan respectively; The net profit after deducting non-profits was 58.39 million yuan, 54.79 million yuan and 59.7 million yuan respectively.

Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

Tangxing Technology's revenue in the first half of 2023 will be 172 million yuan, with a net profit of 32.56 million yuan, and a net profit of 27.633 million yuan after deducting non-profits.

The Tang Suwen family controls 96% of the voting rights

The controlling shareholders and actual controllers of Tangxing Technology are Tang Suwen, Tang Ximing and Ma Yunshu.

Tang Suwen, Tang Ximing and Ma Yunshu directly hold 31.09%, 31.09% and 20.73% of the company's shares respectively, and Tang Suwen indirectly controls 13.03% of the company's share voting rights by serving as the executive partner of Anhui Juntong, Anhui Junxian and Anhui Junwei.

Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

Tang Suwen and Tang Ximing are brothers, Ma Yunshu is cousins with Tang Suwen and Tang Ximing, and the three have signed the "Concerted Action Person Agreement", which together controls 95.94% of the voting rights of the company's shares, and is the controlling shareholder and actual controller of the company.

Tangxing Technology's IPO was terminated: annual revenue of 320 million Tang Suwen's family controls 96% of the voting rights

Before the IPO, Anhui Juntong held 6.04% of the shares, Anhui Junxian held 4.74% of the shares, Anhui Junwei held 2.25% of the shares, Huayuan Group SS held 1.81% of the shares, Hefei Guoyao and Tongling Yida held 0.9% of the shares, and Hongxi Holdings held 0.45% of the shares.

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