Jiangsu Shentong changed hands twice in two years "post-85" new actual controller Han Li quickly took the position

After more than 3 months of increasing holdings, raising cards and passing proxy voting rights, "post-85" Han Li took control of Jiangsu Shentong in one fell swoop.

Recently, Jiangsu Shentong issued an announcement that Wu Jianxin terminated the voting rights entrustment to the controlling shareholder Huzhou Fenglin Volcano in advance, and then entrusted the voting rights of all his 41.1116 million shares (accounting for 8.46% of the total share capital) to Ningbo Juyuan Ruili; on the same day, Ningbo Juyuan Ruili accepted 2% of the shares of Fenglin Volcano through a block transaction. In the end, Ningbo Juyuan Ruili became the controlling shareholder of the listed company with a total shareholding ratio of 17% and 25.46% of the voting rights, and Han Li became the new actual controller of the company.

Zhang Qiqiang, secretary of the board of directors of Jiangsu Shentong, said in an interview with the Securities Daily reporter that "after Han Li becomes the new actual controller, he will not change his main business and will continue to maintain the company's normal production and operation activities."

The new actual controller is in position quickly

The reporter noted that Ningbo Juyuan Ruili only invested in Jiangsu Shentong for the first time in March this year.

From March 19 to June 18, in just three months, Ningbo Juyuan Ruili raised its cards three times through two ways: increasing its shareholding in the secondary market and receiving equity. As of June 18, Ningbo Juyuan Ruili had acquired a total of 72.86 million shares of Jiangsu Shentong, with a shareholding ratio of 15%, which is very close to the proportion of listed companies held by Huzhou Fenglin Volcano.

For the reasons for the increase, Ningbo Juyuan Ruili increased its holdings previously revealed in the announcement that it was mainly optimistic about the future development prospects of the industry where Jiangsu Shentong was located, recognized its long-term investment value, and did not rule out continuing to increase its shares in the next twelve months.

This day did not make everyone wait too long, only half a month from the previous increase in holdings, Ningbo Juyuan Ruili shot again. On July 2, Ningbo Juyuan Ruili increased its shareholding in the company by 2% through a block transaction, and the shareholding ratio rose to 17%, and combined with the delegation of 8.46% of the voting rights from Wu Jianxin, it controlled a total of 25.46% of the voting rights of Jiangsu Shentong, becoming the controlling shareholder of the company, and Han Li became the new actual controller of the company.

According to the data, Juyuan Ruili was established on December 24, 2018, with a subscribed capital of 850 million yuan, and Han Li, born in 1987, holds 94.12% of the shares and is the actual controller.

At present, Han Li works in China Eastern Group and Jinxi Iron and Steel Company. According to the "Report on Changes in Equity", Han Li is currently the executive director, chief financial officer and deputy general manager of China Orient Group Holdings Co., Ltd., the chairman of Beijing Jinxi Investment Holdings Co., Ltd., the chairman of Oriental Luyuan Energy Conservation and Environmental Protection Engineering Co., Ltd., and the chairman of Hebei Jinxi Iron and Steel Group Co., Ltd.

It's been less than a year and a half since the last change of ownership

Jiangsu Shentong landed on the capital market in June 2010, specializing in the research, development, production and sales of new special valves, and its products are widely used in metallurgy, nuclear power, petroleum and other fields. Judging from the financial report data disclosed by the company in recent years, from 2016 to 2018 and the first quarter of 2019, Jiangsu Shentong's operating income and net profit have achieved double-digit rapid growth. Among them, the net profit in the first quarter of 2019 more than doubled year-on-year.

According to the latest disclosure of the 2019 semi-annual performance forecast, from January to June 2019, Jiangsu Shentong is expected to have a net profit attributable to shareholders of listed companies of 76.4473 million yuan to 92.5414 million yuan, an increase of 90% to 130% year-on-year. Zhang Qiqiang told the "Securities Daily" reporter, "The reason for the increase in performance is mainly due to the increase in market demand for metallurgical valves and the increase in energy-saving and environmental protection projects." ”

This is not the first time that the actual controller has been changed since the company went public. In November 2017, Wu Jianxin, the actual controller of Jiangsu Shentong, and other executives proposed to transfer 47.6899 million shares of the company held by them to Huzhou Fenglin Volcano, and after the transfer was completed, Huzhou Fenglin Volcano held 9.82% of the shares, becoming the second largest shareholder of the company. More than two months later, Wu Jianxin and other executives transferred 7.65% of the company's shares to Huzhou Fenglin Volcano, and entrusted the voting rights accounting for 7.55% of the company's total share capital to him. As a result, Huzhou Fenglin Volcano holds a total of 17.46% of the shares and 25.01% of the voting rights, becoming the largest shareholder of the company, and Luo Can, the actual controller of Huzhou Fenglin Volcano, has become the new actual controller of the company.

For the two changes in the actual controller in two years, Zhang Qiqiang told reporters, "Huzhou Fenglin Volcano and Ningbo Juyuan Ruili both agree with the company's strategy, optimistic about the future development space and investment value of the company's industry, and the new shareholders' shares will promote the company's equity structure and enhance the company's intrinsic investment value."

An analyst who did not want to be named said in an interview with the Securities Daily reporter, "From the background point of view, the new actual controller is very good at capital operations such as mergers and acquisitions, which is helpful for the extended development of Jiangsu Shentong and the provision of capital needs." It said that this is actually to separate the company's endogenous and external extensions, that is, the so-called "let professional people do professional things", which is a good thing for the company's future development.

(Editor-in-charge: Zhang Qianrong)