Following the earlier NVC lighting announcement, soon after the purchase of shares of Dehao Runda listed company of no more than 110 million yuan, Dehao Runda also assisted NVC lighting.
On the evening of (19), Dehao Runda issued an announcement, and the company’s wholly-owned subsidiary, Dehao Runda International (Hong Kong) Co., Ltd. (hereinafter referred to as “Hong Kong Dehao Internationalâ€) passed the large-scale transaction on the market on July 18. At the price of HK$0.8/share, the company purchased 24,600,000 shares of NVC Lighting, with a transaction amount of HK$1975.05 million (including commissions, stamp duty, etc.), which amounted to RMB171.14 million. The source of funds was the company's own funds.
Prior to this increase, DHL Runda held 845,746,000 shares of NVC Lighting through Hong Kong DHL International, accounting for 23.61% of its issued ordinary shares of 3,581,805,000 shares. After the completion of the increase, Dehao Runda held 870,346,000 shares of NVC Lighting through Hong Kong DHL International, accounting for 24.30% of its issued ordinary shares, and remains its largest shareholder.
Dehao Runda said that the company's shareholding in NVC Lighting is mainly due to the undervalued NVC Lighting's share price, which has a large investment value. In addition, this increase can further increase the company's shareholding in NVC Lighting. In order to facilitate further integration in the later period.
Similarly, because the stock price is undervalued and there is a large investment value, NVC Lighting previously issued an increase in holdings, saying that the acquisition provides the group with valuable investment opportunities to capture the potential growth of Dehao Runda and will bring benefits to the group. The company also believes that the current stock price of Dehao Runda is also at a reasonable level and has investment value.
NVC Lighting previously announced that it intends to acquire the shares of Dehao Runda with a total amount of not more than RMB 110 million on the spot before December 31, 2017. The purchase price per share is not higher than RMB 5.45.
The market conditions are sluggish, and the actual controllers of listed companies have become the mainstream by adopting the “overweight†to protect the stock price. In the "rescue city", Dehao Runda, which specializes in small household appliances and LED dual-main business, has a special role - NVC Lighting, the latter is the shareholding company of the former.
Before NVC Lighting decided to increase its holdings, on the evening of June 4th, it announced the issuance of new shares on the Hong Kong Stock Exchange. It is reported that on June 2, 2017, NVC Lighting entered into a subscription agreement with the Subscriber to issue an additional 368 million shares to the Subscriber at HK$0.8 per share, representing 11.46% of the issued shares and 10.28% of the enlarged issued share capital. Subscribers include Caisheng Co., Ltd., Lead Investment Limited, Ye Yong, Feng Chun and Zou Xiaoyang.
After the issuance and deduction of related expenses, NVC Lighting estimated that the net proceeds were approximately HK$294 million. At that time, NVC Lighting stated that the company intends to use the net proceeds for general corporate purposes, business development and working capital requirements.
On May 24, 2017, Dehao received a message from the controlling shareholder Wuhu Dehao Investment Co., Ltd. (hereinafter referred to as “Wuhu Dehao Investmentâ€) that touched the warning line. Wuhu Dehao Investment is a subsidiary of Wang Donglei. Due to its own capital needs, Wuhu Dehao Investment handled the equity pledge procedures of its 289 million shares of Dehao Runda, accounting for 98.75% of the total shares of the company it held.
To this end, Dehao Runda shares were forced to suspend trading for more than half a month. Wuhu Dehao Investment escaped the pledge crisis by adding a margin. Although Wuhu Dehao Investment has reduced the equity pledge ratio (accounting for the total number of shares held by the company) to 81.85%, if the follow-up of Dehao Runda's share price cannot be stabilized, it does not rule out the possibility that the equity pledge crisis will still be detonated.
Dehao Runda's 2017 quarterly report released on April 28 showed that operating income was 846 million, up 8.56% year-on-year; net profit was loss of 86.58 million yuan, down 2.31% year-on-year; net profit after deduction was loss of 103 million Yuan, a year-on-year loss of 14.92%. The group expects the net profit attributable to shareholders of listed companies in the first half of 2017 to be positive, with a range of 12 million yuan to 20 million yuan, an increase of -25% to 25%.
Although Dehao Runda's operating income and net profit in the first quarter showed year-on-year growth, and it is expected to be able to continue to increase in the first half of the year, compared with the entire industry, this performance can only be said to be unsatisfactory.
According to public reports, the A-share LED concept related listed companies generally preferred in the first quarter, nearly 90% of listed companies achieved a year-on-year positive growth in net profit attributable to shareholders of the parent company (hereinafter referred to as net profit), and more than 30% of the company's net profit realized Double growth, more than 60% of corporate net profit growth of more than 30%. In contrast, the growth rate of Dehao Runda's net profit is unlikely to be expected.
Recently, there are 11 LED companies that announced the 2017 semi-annual report in the A-share market. Among the 11 listed companies, except for Dehao Runda, which expects a decline in earnings, the rest of the company expects net profit in the first half of this year to increase year-on-year.
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