increases investment in intelligent manufacturing, and Jingcheng Co., Ltd. has taken a key step. Recently, Beijing Jingcheng Electrical and Electrical Co., Ltd. (hereinafter referred to as Jingcheng Shares) affiliated to Beijing Chengcheng Electrical Co., Ltd. (hereinafter referred to as Jingcheng Shares) announced that the company's issuance of shares and payment of cash to purchase assets and raise supporting funds has been approved by the China Securities Regulatory Commission.
htmlOn November 20, Jingcheng Shares resumed trading, and the stock price hit the daily limit again. As of the close, the latest share price of Jingcheng Co., Ltd. was 26.18 yuan, an increase of 10%, with a total market value of 12.698 billion yuan.
Intelligent and green are important "two-wheel engines" for the transformation and upgrading of equipment manufacturing. While developing gas storage and transportation equipment business, Jingcheng Co., Ltd. is focusing on the field of intelligent manufacturing. After previous research and discussions and confirmation by multiple parties, it was officially launched in August 2020 to purchase control of Qingdao Beiyang Tianqing Digital Intelligent Co., Ltd. by issuing shares and paying cash, and at the same time, it issued shares privately to raise supporting funds.
Beiyang Tianqing was founded in November 2013. It is a high-tech enterprise focusing on the field of industrial automation, committed to providing downstream manufacturing customers with overall solutions for industrial intelligence and informatization of smart factories and digital production workshops. In 2016, Beiyang Tianqing and Aucma Co., Ltd. undertake the national special demonstration project for intelligent manufacturing, establishing five major product lines including industrial robot system integration, machine vision, enterprise informatization, intelligent manufacturing equipment, and intelligent testing system integration. We have cooperated with many customers including Haier, Aucma, Hisense, TCL, Huanghai Pharmaceutical, Ruizhi Precision, Qingdao Beverage Group, etc. and provided products and services.
In this transaction, Jingcheng Shares will purchase 80% of the equity of Beiyang Tianqing from 18 counterparties by issuing shares and paying cash. The transaction price is 246.4 million yuan. Jingcheng Shares will raise matching funds from no more than 35 specific objects by issuing shares in a private placement manner. After this asset restructuring, Jingcheng Co., Ltd. will focus on the gas storage and transportation equipment field and the field of automated production lines, continuously integrate resources, further exert scale effects and synergies, and steadily move towards intelligent manufacturing.
In the past three years, Jingcheng Shares has made full use of the advantages of the capital market, promoted the joint ventures of upstream and downstream of the industrial chain, planned the extension of the industrial chain, and improved the level of industrial development. After many demonstrations and analysis, it completed the private placement of A-shares in July 2020. The raised funds have been partially used for the construction of high-pressure hydrogen storage cylinder IV bottles, the research and development of hydrogen energy products, etc., strengthening the company's core competitiveness in the hydrogen energy industry chain. This acquisition of Beiyang Tianqing is another important capital market operation after the private placement of shares in 2020. It will give full play to the platform advantages of listed companies, further strengthen the functions of the company's listing platform, effectively promote the expansion of Beijing Stock Exchange's business, and build a high-end equipment manufacturing industry chain system.
As the only "A+H" listing platform of Beijing Mechanical and Electrical Engineering, Beijing Mechanical and Electrical Engineering will focus on leveraging the capital advantages of state-owned listed platforms, optimize and adjust the layout of high-end industries, and carry out the responsibility of supplementing and strengthening the chain around the core business, so as to promote the Beijing Mechanical and Electrical Equipment Manufacturing Industry to move towards the high-end value chain and the core of the industrial chain, and make the equipment manufacturing industry stronger, better and bigger.
Image source: Beijing Mechanical and Electrical
Source Beijing Daily Client | Reporter Sun Jie
Edit Sun Jie
Process Edit Wu Yue
