On December 24, 2021, Changjiang Materials (001296) was listed on the main board of the Shenzhen Stock Exchange. It reached a 44% daily limit on the first day and closed at 36.81 yuan, with a total market value of 3.026 billion yuan and a dynamic price-earnings ratio of 27.39.
In this way, the market value of the chairman of the Xiong Ying family is 1.972 billion yuan.
Upstream news reporters learned that, as the “king of casting materials segmentation”, Changjiang Materials is the fifth new stock in Chongqing this year and the sixth Chongqing company to be listed this year. Previously, the Shanghai Stock Exchange Main Board Chongqing Bank, Sifang New Materials, Beijing Stock Exchange Xin’anjie (translationally listed), China Engineering Consulting, and Shenzhen Main Board Sanyangma achieved A-share listing.
This year’s estimated net profit is 98.97 million yuan to 115 million yuan
Due to the epidemic, the on-site listing ceremony of Yangtze River Materials was held at the Chongqing Share Transfer Center of Jiefangbei, Yuzhong District, Chongqing. The chairman of Yangtze River Materials, Xiong Ying, etc. rang the bell for listing. This is the 1488th listed company on the main board of Shenzhen Stock Exchange and the 2574th listed company on the Shenzhen Stock Exchange.
According to the data from Tianyan Check, Changjiang Materials is registered in Beibei District, Chongqing. The predecessor of the company, Changjiang Co., Ltd., was established on August 8, 1996. In June 2012, it was changed into a joint stock company as a whole. The controlling shareholders and actual controllers are Xiong Ying and Xiong Jie. Two brothers.
Changjiang Materials is mainly engaged in the research and development, production and sales of foundry silica sand, coated sand and sand core; research and development and production of casting waste (used) sand regeneration technology and equipment; and research and development, production and sales of fracturing proppants.
From 2018 to 2020, the company achieved operating income of 749 million yuan, 862 million yuan, and 946 million yuan, respectively, and net profits attributable to parent companies were 92.408 million yuan, 104 million yuan and 120 million yuan, respectively, showing a steady growth overall.
Taking into account that the price of fracturing proppant of the main product is still at a low level, as well as the shutdown and production reduction of the downstream automobile industry due to the lack of core, it is expected that the annual operating income for 2021 will be 881 million to 949 million yuan, an increase of -6.87% to 0.36%; net profit attributable to the parent company was 98.97 million yuan to 115 million yuan, a year-on-year decrease of 3.43% to 17.24%. The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses is expected to be RMB 91.9 million to RMB 97.17 million, a year-on-year decrease of 4.20%-17.86%.
Changjiang Materials first issued 20.55 million shares at an issue price of RMB 25.56 per share. After the issuance, the total share capital was 82.1994.1 million shares. The net funds raised are about 455 million yuan, and it is planned to invest in the “environmental protection coated sand production and foundry waste recycling project” in Chongqing Tongliang Base, Shiyan Base in Hubei, and Xiantao Base, and “New Annual Sand Core Production” in Changzhou Base in Jiangsu 72,000 tons, 79,200 tons of CCATEK environmental protection coated sand project” and supplementary working capital.The Bear Eagle family holds a stock market value of 1.972 billion yuan
The upstream news reporter was informed that the controlling shareholder and actual controller of Yangtze River Materials are two brothers, Xiong Ying and Xiong Jie, who together hold 60.33% of the company’s shares before the issuance, of which Xiong Ying holds 33.12% and Xiong Jie holds 27.21%.
Xiong Ying, born in February 1957, Chinese nationality, no permanent residency abroad, senior engineer, MBA. Xiong Ying once studied at Sichuan Industrial School, majoring in light machinery, and majoring in mathematics and computer science at Southwest China Normal University.
In his early years, Xiong Ying taught at Fangjia No. 2 Primary School in Renshou County, Sichuan Province, and later worked as a technician at Yibin Changjiang Paper Company; from 1982 to 1985, worked as a technician at Chongqing Glass Refractory Material Factory; from 1985 to 1989, worked as Beibei Light Industry Refractory Deputy director, acting director, and director of the material factory; from 1990 to 1992, he served as the general manager of Beibei Kiln Engineering Company; founded Changjiang Materials in 1992 and is now the chairman.
Xiong Jie, born in January 1965, Chinese nationality, no permanent residency abroad, bachelor degree, graduated from Southwest Agricultural University majoring in business administration. In his early years, Xiong Jie worked as a custodian at Lingyang Grain Station in Renshou County, Sichuan Province, and later as a plant manager at the Sichuan National Grain Reserve. He joined Changjiang Materials in 1999 and is now the managing director.
Xiong Ying’s son Xiong Fan holds 11.04% of the shares; Xiong Jie’s son Xiong Yin holds 9.07% of the shares. The four persons are acting in concert, and the four persons collectively hold 80.44% of the company’s shares before the issuance. After the issuance of Changjiang Materials, the four people hold about 60.33% of the shares. According to the latest stock price of 36.81 yuan, the market value is about 1.826 billion yuan.
In addition, Zhuang Xiong and Xiong Wei are brothers with Xiong Ying and Xiong Jie. They hold 5.4841% and 0.098% of the shares of Changjiang Materials before the issuance. They serve as deputy general managers and procurement directors in the company. After the issuance, they respectively account for the total share capital. 4.113%, 0.735% of the shares, the total holdings of the two accounted for 4.848% of the total share capital.
In this way, the Chairman Xiong Ying’s family holds 65.18% of the total share capital, and the market value reaches 1.972 billion yuan.
The actual controller brothers cultivate their own sons to succeed
The prospectus shows that Xiong Fan and Xiong Yin, the third and fourth largest shareholders of Yangtze River Materials, hold approximately 6.8 million shares and 5.59 million shares, respectively. At a stock price of 36.81 yuan, the market value is 250 million yuan and 206 million yuan respectively.
The two shareholdings come from their fathers. In December 2015, Xiong Ying transferred 6.805482 shares of Yangtze River Materials held by him to his son Xiong Fan by agreement at a cost price of RMB 0.09 per share, which Xiong Fan paid. The transfer amount is 612,500 yuan.
Xiong Jie transferred the 5,592,182 shares he held to his son Xiong Yin by agreement at a cost of 0.09 yuan, and Xiong Yin paid 503,300 yuan for the transfer.
Xiong Fan, male, born in June 1982, Chinese nationality, no permanent residency abroad, undergraduate degree, studied at Chongqing University of Technology from September 2001 to June 2005, majoring in computer science and technology; June 2005 to 2012 In November, he served as the general manager of Chongqing E-Tech Technology Co., Ltd.; since December 2012, he has served as the assistant to the chairman of the board of Changjiang Materials.
Xiong Yin, male, born in April 1989, Chinese nationality, no permanent residency abroad, bachelor degree, studied econometrics at the University of Sydney Business School from 2008 to 2012; from March 2013 to February 2015 in Yangtze River Assistant to the general manager of Materials; Deputy Director of Production Management Center from February 2015 to April 2017; Deputy Director of Operations Management Center from May 2017 to present.
People familiar with the matter pointed out that Xiong Fan and Xiong Yin, as the second generation of founders, are participating in corporate management and are training them to pave the way for future succession.
Chief Reporter of Upstream News Liu Yong, intern Li Si NianReturn to Sohu to see more
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