Image source: Tu Chong
Reporter | Shen Lu
Reporter | Shen Lu
On August 17, energy storage concept stock Yongfu shares (300712.SZ) fell sharply again at the opening of the market, and hit the lower limit at around 9:40 in the morning. As of the lunch break, the company’s stock price was 68.90 yuan, down 11.12%. After the opening in the afternoon, Yongfu shares continued to fall and are currently down nearly 16%.
According to the data, Yongfu Co., Ltd. is headquartered in Fuzhou, Fujian. It is an integrated power and energy service provider that provides customers with power and energy system integration solutions and services, covering energy and power engineering investment, planning and consulting, survey and design, engineering construction, software development, Operation and maintenance management and other power life cycle.
In 2020, the company’s revenue was 980 million yuan, down 31.93% year-on-year, and net profit was 50.918 million yuan, down 30.38% year-on-year.
In the first quarter of 2021, the company’s revenue was 202 million yuan, an increase of 2.84% year-on-year, and the net profit was 8,629,400 yuan, an increase of 5.08% year-on-year. The net profit after deduction was a loss of 747,500 yuan, a decrease of 109.16%.
However, such a mediocre company is popular in the secondary market because of its involvement in new energy storage business and its multiple cooperation with CATL (300750.SZ).
According to the 2020 annual report, Yongfu Co., Ltd. stated that the company vigorously develops energy storage technology research and development and innovation, and can provide customers with advanced energy storage system integration solutions, digital services from construction to operation (including software and hardware products and services), and the types cover power grids. Full business areas such as side energy storage, power supply side energy storage and user side energy storage, involving different application scenarios such as large energy storage power stations, wind and solar storage microgrids, “multi-station integration” substations, large data centers, and comprehensive energy demonstration projects in the park .
On December 8, 2020, Yongfu Co., Ltd. announced that the company’s controlling shareholders Bohong Investment, Hengcheng Investment, and Bofa Investment signed a “Share Transfer Agreement” with Ningde Times on the 8th, intending to transfer 14.567,900 shares of the company they hold The shares, which account for about 8% of the company’s total shares, are transferred to Ningde Times by agreement at a transfer price of RMB 14.52 per share.
At the beginning of February this year, Yongfu shares again announced that the company intends to cooperate with the company’s shareholder Ningde Times, which holds more than 5% of the company’s shares, to invest in Fujian Yongfu Dentsu Technology Development Co., Ltd. by way of joint capital increase and shareholding. Ningde Times intends to invest in Yongfu Dentsu with RMB 6,621,900. After this investment, Ningde Times will hold 60% of Yongfu Dentsu’s equity, and Yongfu will hold 40% of Yongfu’s equity. This joint investment aims to fully integrate the technological and resource advantages of Ningde Times and Yongfu Co., Ltd., and realize in-depth cooperation and industrial layout in the field of new energy (especially the field of photovoltaic + energy storage).
Under the influence of this, the company’s stock price once went from 26.04 yuan at the beginning of the year to 119.56 yuan on August 11, a cumulative increase of more than 280%. Especially from June 29 to August 10, it was speculated by the secondary market. Influenced by the concept of energy storage, the company’s stock price rose in the short term, with a cumulative increase of 208%.
However, after many days of upsurge, the stock price of Yongfu shares has ushered in a major reversal in recent days. On the evening of August 13, Yongfu shares announced that due to its own capital needs, CATL plans to reduce its holdings of no more than 5,463,100 shares of the company. The total equity ratio does not exceed 3%.
The market was in an uproar as soon as the shareholding reduction announcement came out. Since August 12, Yongfu shares have been falling all the way, and on August 16 it was a lower limit. The dragon and tiger list of the day showed that the stock sold a total of 288 million in the previous three days. Yuan, the institution-specific seats were listed on the list to sell one and three, net sales of 69,897,800 yuan and 40,495,300 yuan respectively. The famous hot money seat of Orient Securities Co., Ltd. Hangzhou Longjing Road Securities Sales Department net sold 43,006,700 yuan, Guotai Junan Securities Co., Ltd. The company’s Shanghai Shangcheng Road Securities Business Department and GF Securities Shanghai Xinsongjiang Road Securities Business Department sold 36,395,600 yuan and 32,474,400 yuan respectively.
Jiemian News reporter noted that at the end of July, Yongfu shares just released a plan for issuing A shares to specific targets. The total amount of funds to be raised is expected to not exceed 600 million yuan (including the number), and the number of issued shares will not exceed 30 of the company’s total share capital before the issuance. %, that is, no more than 54.631 million shares (including the number).
Of the funds raised after deducting the issuance costs, 440 million yuan will be used for the “EPC Engineering General Contracting Construction Project”, of which the sub-project “Ningde Times Power Battery Factory Building PV Unit Project Package” is planned to cooperate with the related party Time Yongfu Technology Co., Ltd. 160 million yuan will be used for R&D center construction projects.
It is reported that this time, Yongfu shares are issued to no more than 35 specific objects including the actual controller Lin Yiwen. Among them, Lin Yiwen’s subscription for the issuance of stocks to specific objects this time is not less than 50 million yuan (including the number) and not more than 100 million yuan (excluding the number). Except for Lin Yiwen, other subscription targets for this issuance to specific targets have not yet been determined.
The pricing base date for the issuance of stocks to specific targets is the first day of the issuance period, and the issuance price shall not be less than 80% of the average trading price of the company’s stocks on the 20 trading days prior to the pricing base date. The number of shares to be issued is determined by dividing the total amount of funds raised by the issue price.
People in the capital industry pointed out that from the perspective of fixed increase, the decline in stock prices will definitely benefit the targets of fixed increase, but the non-public issuance of stocks is still in the pre-planning stage, and the inquiry base date is still unclear. The main reason for the decline in stock prices this time is It is still the phenomenon of market follow-up and callback caused by the reduction of holdings in the CATL era after the rapid increase in the previous period.Return to Sohu to see more
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