In the summer of 2009, Guangdong Province enterprise Chaohua Technology (002288) went public on the Shenzhen Stock Exchange. The actual controllers behind the company Liang Junfeng and Liang Jianfeng brothers also achieved a surge in wealth that year. After leading Chaohua Technology to hang out in A-share market for 13 years, the Liang brothers had the idea of withdrawing.
On October 25, Chaohua Technology disclosed an announcement stating that the company's actual controller is planning a change of control. The industry to which the counterparty belongs is the industrial metal field. The company's stock is suspended from trading from October 25. It should be pointed out that on the trading day before Chaohua Technology was suspended, that is, on October 24, the company's stock price hit the daily limit, which also triggered investors' doubts about whether the company's insider information was leaked. On October 25, Ning Feng, Chaohua Technology Certification, said in an interview with a Beijing Business Daily reporter that the company has strict information confidentiality measures and an insider registration management system, and there is no situation of information leakage in advance.
Behind the retreat of the Liang brothers, Liang Jianfeng himself and Chaohua Technology are not optimistic at the moment. Among them, all shares of the listed company held by Liang Jianfeng have been frozen, and nearly 80% of the shares have also been pledged. As for Chaohua Technology, the company disclosed its 2022 third quarter report on the evening of October 25, and the company's net profit in the first three quarters fell by more than 60%. Due to poor performance, Chaohua Technology is also actively seeking rescue and will start disposing of idle assets in the second half of this year.
The stock price hit the daily limit before the suspension
just hit a daily limit when Chaohua Technology announced the news of the suspension.
On October 25, Chaohua Technology disclosed an announcement stating that the company received a notice from Liang Jianfeng, one of the company's controlling shareholder and actual controller, on October 24 that it is planning to transfer to a specific object through the agreement, entrust voting rights, etc. to a specific object, and the counterparty will hold 18%-22% of the company's shares or voting rights. The aforementioned matters will lead to a change in the company's actual control rights. In order to avoid abnormal fluctuations in the company's stock price, Chaohua Technology stated that the company's stock will be suspended from October 25, and the expected suspension time will not exceed 2 trading days.
Chaohua Technology did not disclose too much about the takeover party this time, and only stated that the industry to which the counterparty belongs is the industrial metal field, and matters related to this transaction still require the competent department to conduct pre-approval.
It is worth mentioning that before Chaohua Technology disclosed the above news, the company's stock price just hit a daily limit on October 24. Trading market shows that with a large amount of capital buying, Chaohua Technology opened and directly blocked the daily limit on October 24. Then, under the selling pressure, the company briefly opened the daily limit in the early trading stage. After a short-term competition between buyers and sellers, Chaohua Technology once again blocked the daily limit.
As of the close of October 24, Chaohua Technology's stock price was 5.58 yuan per share, with a transaction amount of 254 million yuan on the same day, which showed a significant increase in volume compared with the previous few days.
The stock price hit the daily limit before the major news was disclosed. Whether insider information was leaked by Chaohua Technology has also sparked heated discussions among the company's investors. In response, on October 25, Ning Feng, Chaohua Technology Certification, said in an interview with a Beijing Business Daily reporter that the company has strict information confidentiality measures and an insider registration management system, and there is no situation of early leakage of information. "We were notified on the morning of October 24 that the actual controller had a transfer control plan, and began to prepare for relevant information disclosure on the same day." Ning Feng said.
. Regarding the specific identity of the takeover party, Ning Feng said that it is not convenient to disclose it at present, so you can pay attention to the announcement of the company's resumption of trading .
Independent economist Wang Chikun told Beijing Business Daily reporters that the stock price of listed companies hit the daily limit before major news was disclosed, which will inevitably trigger market doubts about the company's insider information management, and it is not ruled out that they will be paid attention to by regulators in the future.
All shares of Liang Jianfeng were frozen
. Behind the transfer of control, Liang Jianfeng's current situation is not optimistic, and all shares of the listed company he holds have been frozen.
It is understood that the Brothers Liang Junfeng and Liang Jianfeng of Chaohua Technology were founded in 1999. The company is mainly engaged in the research, development, production and sales of electronic substrates and printed circuit boards (PCBs) such as high-precision electronic copper foils, various types of copper clad plates and printed circuit boards (PCBs). After 10 years of development, the Liang brothers have successfully led Chaohua Technology to ring the bell and go public on the Shenzhen Stock Exchange.
As the founder of Chaohua Technology, there seems to be an indescribable hidden secret behind Liang Jianfeng's decision to withdraw.
According to Chaohua Technology's third quarter report of 2022, as of the end of the reporting period, Liang Jianfeng held 172 million shares of the company, with a shareholding ratio of 18.43%. Due to securities pledge issues, all shares of the company held by Liang Jianfeng have been frozen, and the 137 million shares held were pledged. According to calculations, Liang Jianfeng's pledged shares accounted for 79.65% of his shares.
In addition, Liang Jianfeng was also involved in loan disputes. Beijing Business Daily reporters noticed that on February 19 this year, Chaohua Technology issued an announcement on major litigation matters, saying that Liang Jianfeng had a loan dispute with Zhao Jizeng and others. The plaintiff Zhao Jizeng said that on June 1, 2017, Zhao Jizeng signed the " loan contract " with Liang Jianfeng, Feng Biao and Chaohua Technology. The contract stipulates that Zhao Jizeng will provide Liang Jianfeng with a loan of 200 million yuan, with a term of one year, and the principal and interest will be paid when due. Feng Biao and Chaohua Technology, as guarantors, shall bear the joint and several guarantee liability of Liang Jianfeng for the above-mentioned debts of .
As of December 31, 2020, the principal, liquidated damages, and part of the interest have not been repaid. In order to protect his legitimate rights and interests, Zhao Jizeng filed a lawsuit.
Chaohua Technology stated that the above case was completed on August 2, 2022, and the final judgment was to reject the plaintiff Zhao Jizeng's appeal.
Liang Junfeng is Liang Jianfeng's brother, born in November 1963. As of the end of the third quarter of this year, Liang Junfeng directly held 32.7113 million shares of Chaohua Technology, with a relatively low shareholding ratio of only 3.51%, of which 10 million shares were pledged. Regarding Liang Jianfeng's share freezing situation, Ning Feng told the Beijing Business Daily reporter that the company's announcement can be paid attention to the company's announcement in detail, and if there is any thawing, etc., it will be disclosed in a timely manner.
Shanghai Hanlian Law Firm's lawyer Song Yixin told a Beijing Business Daily reporter that there should be no freezing or pledge of shares transferred by shareholders of listed companies. If the transfer of shares is involved, it is necessary to lift the freezing or pledge in advance.
Net profit fell by more than 60% in the first three quarters
In addition to the frozen shares of its own, Chaohua Technology's operating conditions have not been optimistic this year.
On the evening of October 25, Chaohua Technology disclosed the company's third quarter report for 2022. The company's revenue and net profit both fell in the first three quarters of this year, of which the operating income was approximately 1.485 billion yuan, a year-on-year decrease of 19.67%; the corresponding attributable net profit was approximately 32.8304 million yuan, a year-on-year decrease of 67.56%; the corresponding attributable net profit after deducting non-operating items was approximately 40.2164 million yuan, a year-on-year decrease of 65.45%.
In the first quarter and the first half of this year, Chaohua Technology's performance was not ideal. Affected by the large decline in the company's product unit price, the company's revenue and net profit in the first half of this year decreased by 10.87% and 57.62% year-on-year respectively.
In view of the performance of listed companies since this year, Ning Feng also told the Beijing Business Daily reporter that the company is also constantly integrating and has begun to dispose of idle assets in the second half of this year.
As Ning Feng said, Chaohua Technology disclosed the sale of assets and the sale of equity of in August this year. In order to improve the efficiency of asset operation and reduce the depreciation and amortization costs of related assets, the listed company transferred part of the land and buildings in Meixian, Meizhou City, Guangdong Province to Guangdong Fuhua Energy-Saving Technology Development Co., Ltd., with a total transfer price of 14.6275 million yuan.
In addition, Chaohua Technology and Shenzhen Ruicaitong Technology Co., Ltd. (hereinafter referred to as "Ruicaitong") signed a "Share Transfer Agreement", and the company plans to transfer 55% of its holding subsidiary Shenzhen Huaruixin Supply Chain Management Co., Ltd. (hereinafter referred to as "Huaruixin") to Ruicaitong for 6.17 million yuan.
After the above transaction is completed, Chaohua Technology will no longer hold shares in Huaruixin.
Beijing Business Daily reporter Ma Huanhuang
