is about to change, but Aigaras (002619) is suddenly under investigation!
On the evening of December 6, the company announced that it had been investigated by the China Securities Regulatory Commission for suspected illegal information disclosure. The above matters will not have an impact on the production and operation activities of listed companies for the time being.
On the same day, the company's control change plan was released. After director Liu Hanyu resigned, shareholder Rizhao Yiju Equity Investment Center (Limited Partnership) (hereinafter referred to as "Yiju Investment") nominated Li Fei as the new director and controlled more than half of the seats on the board of directors of the listed company. , the controlling shareholder will be changed from Julong Holdings to Yiju Investment, and the actual controller will be changed from Lu Rengao to Wang Shuangyi. Trading of the company's shares resumed on December 7.
was put under investigation
Regarding the reason for being put under investigation this time, Aiglas's description is relatively vague, only indicating that it is suspected of illegal information disclosure. As soon as the news about
came out, the stock market exploded instantly. As of the third quarter of this year, the company has approximately 60,000 shareholders.
Some investors have predicted the stock price trend, saying that the company will "close the limit" on December 7.
Securities Times · e Company reporter noticed that since this year, Aigaras and relevant shareholders have received three regulatory letters from the Zhejiang Securities Regulatory Bureau and the exchange. In July, because the previously acquired target companies Hangzhou Souying and Beijing Thumb Wan failed to fulfill their performance commitments, and the relevant shareholders failed to pay performance compensation in a timely manner, Aiglas was issued a regulatory concern letter by the Zhejiang Securities Regulatory Bureau; in August, the company was The exchange issued a supervision letter for failing to disclose in a timely manner a financial support of RMB 25.2276 million for joint-stock companies and related enterprises. In addition, the company's shareholder Yiju Investment received a regulatory letter from the exchange for passively closing its position outside the pre-disclosure time limit for reducing its holdings. In terms of
stock price performance, the overall stock price trend of Aiglass is weak. Data shows that the company has fallen by 66.54% in the past three years, and has fallen by more than 30% this year. The current stock price is 2.2 yuan per share, and the market value is only 4.1 billion yuan.
Accompanying the decline in stock prices is the frequent reduction of holdings by shareholders. In May this year, the company’s controlling shareholder Julong Holdings and persons acting in concert reduced their holdings of 18.36 million shares through the secondary market; from May 25 to June 23, actual controller Lu Rengao and persons acting in concert Julong Culture reduced their holdings of 26.3064 million shares , the reduction amount exceeded 60 million yuan; from July 1st to September 22nd, Lu Rengao and Julong Culture once again reduced their holdings by 30.45 million shares, with the reduction amount exceeding 80 million yuan; from October 16th to November 13th, Julong Culture Long Holdings and Julong Culture continued to reduce their holdings of 28.5 million shares. It is estimated that Julong Holdings and persons acting in concert have reduced their shareholdings by more than 7% since this year, and received a reduction consideration of approximately 250 million yuan.
Synchronous planning control change
After intensive reduction of holdings, the current shareholding ratio of Julong Holdings and persons acting in concert has dropped to 7.07%. In view of the low shareholding ratio, the stability of Aiglas 's control is worrying.
On December 4, the company announced a change of control plan: director Liu Hanyu resigned, and shareholder Yiju Investment nominated Li Fei as the new director. Previously, Julong Holdings nominated 5 of the company's 9 directors as the controlling shareholder; after this change, Yiju Investment will nominate 5 directors, accounting for more than half of the board of directors. Accordingly, the company's controlling shareholder will be changed from Julong Holdings to Yiju Investment, and the actual controller will be changed from Lu Rengao to Wang Shuangyi.
Securities Times·e Company reporter noticed that in October last year, Julong Holdings planned the transfer of control rights. According to the plan at the time, Julong Holdings and persons acting in concert planned to transfer 15.79% of the shares to Sichuan Juxin Development Equity Investment Fund Management Co., Ltd. to transfer control rights. Now, as the former's shareholding ratio continues to decline, the uncertainty of the above-mentioned equity transfer matters has become increasingly increasing.
Yiju Investment, which is about to become the controlling shareholder this time, became associated with the listed company in 2015. At that time, the company issued shares for 2.5 billion yuan to acquire 100% equity of Aiglas Technology (Beijing) Co., Ltd. held by Yiju Investment and others. Yiju Investment immediately became a 15.46% shareholder of the company. In the past five years since
entered the listed companies, Yiju Investment has never reduced its holdings before, but this year it started to reduce its holdings due to passive liquidation.From April 27 to May 6 this year, Yiju Investment reduced its holdings by a total of 9.53 million shares; on November 18, Yiju Investment once again issued a pre-disclosure plan, intending to reduce its holdings by no more than 1% of the total share capital in the next three months. . As of the end of the third quarter, 198 million shares held by Yiju Investment were in a pledged state, accounting for 93% of the total shares held by Yiju Investment.
It is worth mentioning that the above-mentioned shareholders’ shareholding reduction plan may be shelved due to this investigation. According to relevant regulations, listed companies or major shareholders are not allowed to reduce their holdings during the period when they are under investigation by the China Securities Regulatory Commission or judicial authorities due to suspected securities and futures violations, and less than 6 months after the administrative penalty decision or criminal judgment is made. shares.
Cross-border mobile game failed
Aiglas was formerly known as Julong Pipe Industry. It landed in the capital market in 2011. Its original main business was the concrete water pipeline business. Suffering from sluggishness in its main business, the company acquired Aiglas Technology (Beijing) Co., Ltd. in 2015 to transform into the mobile gaming field. Later, it also successively acquired mobile Internet companies such as Beijing Thumb Play and Hangzhou Souying at high premiums, and gradually divested them. The original concrete water pipeline business was renamed Aigaras in 2017.
However, the game's road to progress has not been smooth. After experiencing substantial growth from 2016 to 2018, the company's performance suffered a collapse in 2019. That year, because the performance of the three major mobile game and mobile Internet companies it acquired did not meet expectations, Eglas made goodwill impairment of nearly 3 billion yuan, which directly led to a huge loss of 2.56 billion yuan.
Entering 2020, the company's revenue and net profit have both declined sharply, and the operating situation is still not optimistic. Data show that in the first three quarters, the company achieved operating income of 203 million yuan, a year-on-year decrease of 61.13%; net profit was 33.81 million yuan, a year-on-year decrease of 85.99%. While the main business of
is sluggish, Aiglas is also facing the embarrassment of delayed payment of the equity transfer payment from the controlling shareholder. In 2017, Julong Holdings took over the assets of the concrete water pipeline segment divested by the listed company. However, the relevant asset sale agreement has long been signed, but Julong Holdings has yet to settle the equity transfer payment due to funding problems, involving an amount of 253 million yuan. The content of the
announcement shows that after Julong Holdings paid 51% of the total transaction price to the company in 2017, it has twice deferred payment of the remaining amount. According to the latest agreement between the two parties on December 7, 2018, the final payment deadline was December 31, 2019. However, Julong Holdings still failed to fulfill its payment obligations before the expiration date.
In April this year, Julong Holdings issued a letter of commitment that it would liquidate its assets and liabilities as soon as possible within six months, and stated that all funds obtained from reducing its shareholdings in the future, after deducting the principal and interest of the existing pledged financing, will be used to pay arrears. As of now, the above matters are still pending.
