Tramway News: On December 7, the market value of more than 160 billion yuanLithium batteryMaterialenterpriseGanfeng Lithium IndustryThe announcement stated that the company received the “Administrative Punishment Advance Notice” issued by the Jiangxi Securities Regulatory Bureau.
Jiangxi Securities Regulatory Bureau intends to confiscate Ganfeng Lithium’s illegal income of 1.1053 million yuan and impose a fine of 3.3159 million yuan on suspicion of insider trading in Jiangte Electric’s shares. For such a giant, the amount of the fine is just scratching the surface and will not have too obvious an impact. However, due to the punishment by the China Securities Regulatory Commission, it has a decisive impact on the listing of its planned spin-off subsidiary.
According to the latest “Regulations on the Domestic Listing Pilot Program of Listed Companies Spin-off Subsidiaries” issued by the China Securities Regulatory Commission, if a listed company wants to spin off its subsidiaries and go public, the listed company and its controlling shareholders and actual controllers have not been subject to any Chinese regulations in the last 36 months. Administrative penalties imposed by the China Securities Regulatory Commission; listed companies and their controlling shareholders and actual controllers have not been publicly reprimanded by the stock exchange in the last 12 months.
Now, due to the punishment by the China Securities Regulatory Commission, it means that Ganfeng Lithium’s plan to promote the listing of its subsidiary Ganfeng Lithium Battery will not be realized until at least 2025.
Insider trading profit of about 1.1 million yuan
On April 29, 2020, Jiangte Motor disclosed that due to the company’s negative net profit for two consecutive years in 2018 and 2019, the company’s stock will be “*ST”, and there is a risk of delisting. So Jiangte Motor planned to change the situation by looking for strategic investors.
From June 2020, Ganfeng Lithium Industry began to contact Jiangte Electric. On August 12, Jiangte Motor and Ganfeng Lithium signed a “Memorandum of Cooperation”, agreeing that Ganfeng Lithium will exclusively subscribe for all the non-public shares of Jiangte Motor, and become the controlling shareholder of Jiangte Motor and the chairman of Ganfeng Lithium. Li Liangbin became the actual controller of Jiangte Motor.
On August 20, 2020, Jiangte Motor announced that the plan for this non-public offering of shares was terminated because the two parties failed to reach an agreement on key terms such as the solution to avoid horizontal competition.
The inside information on the non-public offering of shares planned by Jiangte Motor was formed no later than June 9, 2020, and was released on August 13, 2020. Therefore, this time period is a sensitive period for inside information.
During the period from June 23 to July 2, 2020, Ganfeng Lithium bought 15.6777 million shares of “*ST Jiangte” with a purchase amount of 26.4838 million yuan; All were sold on March 9, with a sales amount of 27.6329 million yuan and a profit of 1.1053 million yuan.
The Jiangxi Securities Regulatory Bureau believes that the above illegal facts are proved by relevant announcements of Jiangte Electric, relevant securities and bank account information, transaction records, exchange calculation data, and relevant personnel inquiry transcripts, etc., which are sufficient to determine. Therefore, the above-mentioned behavior of Ganfeng Lithium Industry constitutes an insider trading behavior.
Li Liangbin, chairman and president of Ganfeng Lithium, is directly responsible for the insider trading of Ganfeng Lithium, and Ouyang Ming, then secretary of the board of directors, is the other person directly responsible.
Jiangxi Securities Regulatory Bureau plans to confiscate Ganfeng Lithium’s illegal income of 1.1053 million yuan and impose a fine of 3.3159 million yuan in accordance with relevant regulations. At the same time, Li Liangbin was given a warning and a fine of 600,000 yuan; Ouyang Ming was given a warning and a fine of 200,000 yuan.
Ganfeng lithium battery is hopeless to be listed in the short term
On November 23 this year, Ganfeng Lithium Industry announced that it will start the demonstration of the feasibility plan for the spin-off and listing of its holding subsidiary Ganfeng Lithium on the Shenzhen Stock Exchange, and authorize the company and the management of Ganfeng Lithium to promote Ganfeng Lithium in due course. Lithium battery spin-off listing.
At the same time, the company reviewed and approved the proposal of Ganfeng Lithium’s capital increase and share expansion and related transactions, with a total capital increase of about 2.7 billion yuan. The capital increase from self-owned funds shall not exceed 2.09 billion yuan.
As of the end of the first half of this year, the total book assets of Ganfeng Lithium Battery were 9.66 billion yuan, the net assets were 4.16 billion yuan, and the net assets per share were 1.95 yuan. After all parties negotiated and unanimously decided, the price of Ganfeng Lithium’s capital increase and share expansion is 3 yuan per share.
Ganfeng lithium battery solid stateBattery
Ganfeng Lithium is a subsidiary of Ganfeng Lithium Industry, located in Xinyu, Jiangxi, the main business scope is lithium ionPower Battery、The fuel cell、energy storageThe R&D, production and sales of batteries are one of the important sectors of Ganfeng Lithium Industry in the integrated layout of the lithium industry chain.
According to the semi-annual report of Ganfeng Lithium Industry, Ganfeng Lithium Power currently has five projects under planning and construction.lithium batteryProjects, three of which are located in Xinyu, Jiangxi, and the other two are located in Huizhou, Guangdong and Liangjiang New District, Chongqing.
At present, Ganfeng Lithium Battery has built a production capacity of 7GWh, of which the 3GWh production line put into operation in 2021 can be fully produced, and the newly built 4GWh production line is still being debugged.
It is worth mentioning that Ganfeng has invested a lot in solid-state battery technology. The energy density of its third-generation solid-state batteries will reach 420Wh/kg. The development of sample A products has been completed in the first quarter of 2021. The production base already has a production capacity of 2GWh solid-state batteries.
Ganfeng lithium battery solid state battery parameters
The industry generally believes that solid-state batteries are ahead of existing power batteries in terms of energy density and safety. Once this cutting-edge technology is actually mass-produced, the current mainstream battery manufacturers will face a blow to dimensionality reduction. For Ganfeng Lithium Battery, solid-state batteries are also a possible opportunity for overtaking on corners.
Ganfeng Lithium Industry stated that the spin-off and listing is to promote the business development of Ganfeng Lithium Battery, support it to seize the opportunity to expand and strengthen the lithium battery business, and help improve the industrial chain layout of upstream and downstream integration.
Although in the latest announcement, Ganfeng Lithium Industry stated that the above-mentioned punishment is not a formal administrative penalty decision, Ganfeng Lithium Industry and related personnel have the right to make statements and defenses, and have the right to request a hearing. However, judging from the details released by the Jiangxi Securities Regulatory Bureau, the evidence of insider trading is solid, and it is certain that they will be punished accordingly. The spin-off and listing plan can only be shelved temporarily.
Original title: I made 1.1 million yuan in stocks, but lost a listed company