Attention letter from St Haiyuan to invest 10 billion in photovoltaic project

On December 21, * ST Haiyuan received a letter of concern from Shenzhen Stock Exchange, asking it to explain relevant matters on the transfer of its wholly-owned subsidiary Fujian Haiyuan Huabo Equipment Technology Co., Ltd. (hereinafter referred to as “Haiyuan Huabo”) and its huge investment in photovoltaic industry. As of the close of the day, * ST Haiyuan’s “one word board” trading limit, the share price closed at 6.53 yuan. On the evening of December 17, * ST Haiyuan announced that the company and Jiangsu Gaoyou Economic Development Zone Management Committee signed “Gaoyou investment project investment agreement”. The company plans to set up a project company in Gaoyou Economic Development Zone (the registered capital is not less than 1 billion yuan) to invest in the construction of 10GW high efficiency photovoltaic cells and 10GW high efficiency module production project (hereinafter referred to as “photovoltaic module project”) The total investment of the project is 10.5 billion yuan. To this end, the Shenzhen Stock Exchange said in the concern letter that it required the company to add the feasibility of the company’s investment in the construction of the above-mentioned photovoltaic module project in Gaoyou, the calculation basis of the project investment amount of 10.5 billion yuan, and whether the above-mentioned foreign investment constitutes a major asset restructuring in combination with the technical reserve and talent reserve in the photovoltaic cell industry. < / P > < p > in recent years, * ST Haiyuan’s performance is poor, and the pressure of 10 billion investment on it is not small. According to the annual report data, the company has lost money for two consecutive years in 2018 and 2019. According to the latest three quarterly report, the company realized a revenue of 174 million yuan in the first three quarters of this year, a year-on-year decrease of 28.87%; realized a net profit of 2.5776 million yuan, a year-on-year turn from loss to profit. < / P > < p > it is worth noting that * ST Haiyuan recently sold its wholly-owned subsidiary, which was established less than one month ago, and this behavior also aroused the attention of Shenzhen Stock Exchange. On the evening of December 16, * ST Haiyuan announced that it planned to transfer 100% of the equity of Haiyuan Huabo, a wholly-owned subsidiary, to Fujian JUNHE Runda Technology Co., Ltd. (hereinafter referred to as “JUNHE Runda”), with a transfer price of 249 million yuan. In fact, Haiyuan Huabo was just established on December 3 this year. According to the announcement of * ST Haiyuan on November 18, the main assets of the subsidiary are land plots with a value of 159 million yuan. JUNHE Runda was also set up on December 9 this year, without actual operation. < p > < p > the concern letter of Shenzhen Stock Exchange pointed out that the company is required to explain the reasons for the transfer after the establishment of a wholly-owned subsidiary, and whether the company and its directors, supervisors, senior managers and actual controllers are associated with junherun Da, whether there is non Association of related transactions, and whether the company or actual controllers are associated with junherun da And whether there is a sudden profit at the end of the year. According to the public information, * ST Haiyuan’s main business is R & D, production and sales of lightweight composite products. The company’s recent actions in the photovoltaic industry are frequent, or related to the new controlling shareholders. < p > < p > in April this year, * ST Haiyuan announced that Fujian Haicheng Investment Co., Ltd. (hereinafter referred to as “Haicheng investment”) and its designated party, Shangyin Ruijin Capital Management Co., Ltd. (on behalf of Shangyin Ruijin HuiFu No.15 asset management plan, hereinafter referred to as “Shangyin Ruijin”), respectively signed the “agreement on investment management” with Jiangxi Jiawei Enterprise Management Co., Ltd. (hereinafter referred to as “Jiangxi Jiawei”) According to the share transfer agreement of Fujian Haiyuan composite material technology Co., Ltd., Haicheng investment and Shanghai Bank Ruijin plan to transfer their 57.2 million shares (22% of the total shares of the listed company) of the listed company to Jiangxi Jiawei. The subsequent announcement shows that the transfer registration procedures of the above agreement transfer have been completed on July 23 this year, the controlling shareholder of the company has been officially changed to Jiangxi Jiawei, and the actual controller has been changed to ganshengquan. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. Investors operate on this basis at their own risk. < p > < p > Chinanet is a state key news website under the leadership of the Information Office of the State Council and the management of China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website publishes information 24 hours a day. 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