After the suspension of trading for 10 trading days, CSSC (600072)’s major asset restructuring plan has been long-awaited, and the stock will resume trading on January 13.
Inject new energy assets
According to the announcement, CSSC intends to purchase the underlying assets held by the counterparty by issuing shares, namely 100% shares of China Haizhuang, 10% minority shares of Lingjiu Electric, 44.64% minority shares of Luoyang Shuangrui, and 88.58% of CSSC Wind Power. Equity and Xinjiang Hai are 100% equity. After the transaction is completed, CSSC will directly or indirectly wholly hold the above five companies.
At the same time, CSSC also plans to raise supporting funds from no more than 35 qualified specific investors. After deducting the related expenses of this transaction, it is planned to be used to supplement the working capital of the company and the target company or repay debts and the construction of related projects of the target company. etc., the issue price shall not be lower than 80% of the average stock trading price of the listed company in the 20 trading days prior to the first day of the issue period.
At present, the transaction consideration for the acquisition of assets has not yet been determined, and the total amount of funds for issuing shares to raise funds has not yet been determined. CSSC stated that the successful implementation of the issue of shares to purchase assets is a prerequisite for raising supporting funds, but whether the final raising of supporting funds is successful or whether it is fully raised will not affect the implementation of this issuance of shares to purchase assets.
Before the reorganization, CSSC’s business was mainly engaged in engineering design, survey, consulting and supervision, and general engineering contracting. The industries it served included shipbuilding, military industry, machinery, construction, municipal administration, environmental protection, hydraulic engineering and other industries.
The target assets of the reorganization are assets in the new energy industry, and the main business is the manufacture of wind power equipment, the development and operation of wind farms and photovoltaic power stations, and new energy engineering construction services. After the reorganization is completed, CSSC will inject new energy assets based on the existing engineering design and survey business.
The net profit of the two target companies exceeds 100 million yuan
According to the data, China Haizhuang was established in 2004 with a registered capital of 1.319 billion yuan. It is mainly engaged in the development, production and sales of large-scale wind turbines and core components. The main products and services include various types of fans, blades and other core components of fans. , wind farm engineering construction, etc.; the main customers include major domestic state-owned power groups, some local state-owned enterprises and large private enterprises.
CSIC controls 45.17% of the equity of China Haizhuang through direct and indirect means, of which 18.26% is directly held. It is the controlling shareholder of China Haizhuang, and the State-owned Assets Supervision and Administration Commission of the State Council is the actual controller of China Haizhuang. In 2020 and 2021, China Haizhuang achieved operating income of 11.457 billion yuan and 13.729 billion yuan respectively; net profit was 148 million yuan and 182 million yuan.
The underlying assets with net profit exceeding 100 million yuan in 2021 are also Xinjiang Haiwei, whose net profit in 2020 and 2021 will be 60.6479 million yuan and 104 million yuan respectively. Xinjiang Haiwei is mainly engaged in the investment, development and operation management of wind farms and photovoltaic power plants, as well as new energy engineering construction services. In terms of new energy power generation, Xinjiang Haiwell has built 4 wind farms and 4 photovoltaic power stations, relying on wind power generation equipment and photovoltaic power generation equipment to generate electricity.
Lingjiu Electric is a high-tech enterprise mainly engaged in the design, development, production and sales of wind power generation control systems and large-scale water surface navigation monitoring systems. And wind farm monitoring system, etc.; the main products in the field of large-scale water surface navigation monitoring system are ship lock monitoring system, ship lift monitoring system, gate hoist monitoring system, etc.
Luoyang Shuangrui’s main products are wind power blades, one of the core components of wind turbines, including series blades of 4.X-10MW for offshore wind power and 1.5-4.XMW for onshore wind power.
CSSC Wind Power mainly engages in investment, development, operation management and new energy engineering construction services in the wind power industry through two subsidiaries, CSSC Wind Power Investment and CSSC Wind Power Engineering.Return to Sohu, see more
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