Dongyuan Electric sells shells and even rises Foshan Lighting for 4 years and receives 1.2 billion returns
2021-08-28 08:05:40
After welcoming 10 consecutive daily limit boards, Dongyuan Electric's share price jumped from 7.03 yuan before the resumption of trading to 18.89 yuan, with a total increase of 268.70. On the first trading day after the National Day, Dongyuan Electric's stock price remained strong. On the same day, it closed at 19.40 yuan, an increase of 6.13. Dongyuan Electric's total sales of more than 3.3 billion yuan, to the relevant parties have brought high returns, the capital market called it a profiteering myth. The net assets assessed were 860 million yuan, which was sold at a premium rate of nearly 3 times. The benefit of the backdoor Fang Guoxuan Hi-Tech was the first to bear the brunt. Guoxuan High Tech's high gross profit margin is a good reason for high price transactions. In addition, another winner of this transaction is undoubtedly Foshan Lighting. According to the closing price of Dongyuan Electric at 18.95 yuan on October 9, Foshan Lighting held a total value of 7.268 million shares in the hands of about 1.377 billion yuan. With an investment of 160 million yuan, Foshan Lighting has spent more than 1.217 billion book returns in four years, earning a pot of money. In July 2010, Foshan Lighting acquired the equity of Guoxuan Gaoke, the predecessor of Guoxuan Gaoxu Power Energy Co., Ltd. 20, at the price of 160 million yuan, and became its second shareholder. After several capital increases, Foshan Lighting's shareholding ratio fell to 14.84, but the status of the two shareholders has not changed. Later, due to the worse-than-expected performance of Guoxuan High-Tech, Foshan Lighting planned to sell Guoxuan Hi-Tech, but failed to do so. In August 2012, Foshan Lighting announced that the company intends to transfer its shares of Guoxuan Hi-Tech to two investment companies in Xiamen and Anhui for a price of 256 million yuan. No one expected that the original simple equity transfer really became a twist. In the case of the first two passes, the Foshan Lighting Board rejected the above matters at the third meeting. That is, before the board of directors vetoed the transfer agreement, Foshan Lighting received a letter of concern from the Shenzhen Stock Exchange, asking the company to elaborate on whether there is any horizontal competition and whether the transfer pricing is suspected of harming the interests of the listed company. Perhaps, after this "Concern Letter", it became the main reason why the Foshan Lighting Board voted against the equity transfer agreement. Similarly, the veto of this equity transaction brought the Gospel to Foshan Lighting. According to the reorganization draft, Foshan Lighting will receive 726.859 million shares of Dongyuan Electric, with a shareholding ratio of 8.42 and a consideration of 497 million yuan. Compared with the original investment of 160 million yuan, the payment consideration of 4.97 yuan has been regarded as a big pie. But the benefits of Foshan Lighting are far more than that. After the resumption of trading, Dongyuan Electric's share price soared, and it was out of 10 consecutive gains. After the daily limit, Dongyuan Electric's share price is still at a historical high. As of the close of October 9, Dongyuan Electric closed at 18.95 yuan. The number of 72.68 million shares in Foshan Lighting has actually reached 1.377 billion yuan.
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