On the evening of July 4, Gree Electric announced that it currently holds 10% of the shares of Highly. This means that Gree completed the second placard of Highly shares. The reporter calculated according to the announcement of changes in equity (per Each increase in holdings increased the average price multiplied by the share capital, and then added), two placards cost about 1 billion yuan.
Constantly increasing the shareholding of Highly, the intention of Gree Electric under the management of Dong Mingzhu has become a focus for a while. Some analysts said that Dong Mingzhu is to continue to 'create a car dream' after his personal investment in Zhuhai Yinlong; others believe that Gree Electrical appliances are seeking to bundle the upstream compressor resources. In May this year, Dong Mingzhu proposed at the Gree 2018 re-launching party that Gree Electric will hit the target of 200 billion yuan in 2018.
In addition to holding more shares, Gree Electric and Highly have a related transaction. On April 26 this year, Gree Electric announced that in 2018, it is expected that the company and its subsidiaries will purchase and sell products with Highly. The total amount of daily connected transactions does not exceed RMB 2.5 billion. At present, the proposal has been submitted to the 2017 Annual General Meeting for consideration after the company's board of directors has reviewed and approved it.
On the morning of July 5, after the announcement of the Lili Electric Appliances by the Gree Electric Appliances, Haili shares were pulled to the daily limit in the first minute of the opening, but soon opened again. The closing price closed at 11.43 yuan, up 5.35%. Gree The appliance also rose about 3%, but then fell back, closing up 0.53%.
Second placard Haili, before Dong Mingzhu once angered the barbarian
On the evening of July 4, Gree Electric announced that from April 23 to July 4, 2018, through the centralized auction trading method of the stock exchange, the shares of Highly shares were held in 43,315,542 shares. At present, Gree Electric holds the total of Haili. The shares are 86,631,163 shares, accounting for 10% of the total share capital.
According to the announcement, Gree Electric's purchase price of Highly stocks from April 23 to July 4, 2018 is 9.69 yuan - 12.08 yuan per share.
On July 5, Highly issued the “Prompt Announcement on Changes in the Company's Shareholders' Equity”, which confirmed that the shareholding ratio of Gree shares in the company has changed from 5% to 10%. According to Highly Shares, the change in shareholders' equity Did not lead to changes in the company's controlling shareholder, the actual controller.
It is understood that this is Gree Electric's second placard of Haili shares.
On August 4, 2017, Highly shares received a notice from the Electric Corporation. The Electric Corporation intends to transfer the total shares of the company held by the company in the form of public collection of the transferee, totaling 175,128,920 shares, accounting for 20.22 of the company's total share capital. %.
However, on August 22, 2017, Highly shares received a notice from the Electric Corporation. Since the conditions for the transfer of shares by way of public collection of the transferee are not yet mature, it is decided to terminate the transfer of the transfer method by way of public collection of the transferee. Share matters. This also caused the investors at the time to experience the stock price of the roller coaster, causing many investors to be dissatisfied.
In fact, according to the announcement, Gree Electric has contacted the controlling shareholder of Highly Shares and expressed its intention to participate after the company’s controlling shareholder proposed to transfer the company’s shares to the publicly-collected transferee on August 14, 2017. According to reports, the two did not talk.
At about the same time, in August 2017, Gree Electric began to purchase the shares of Highly shares, and in less than a month, the shares held by Highly held from 0 to 5%. Dong Mingzhu once angered the 'barbarians to greet Gree Electric'.
For the car dream or sprint 200 billion?
According to the official website, Highly was listed on the Shanghai Stock Exchange in 1992. After that, it joined hands with foreign capital to enter the air-conditioning compressor industry and gradually extended to the refrigeration related industry. Now Haili has grown into the world's leading air-conditioning compressor, motor and drive control, and heating and cooling. Related product R & D manufacturers, a total of 9 companies, formed a 'compressor, motor, drive control, cooling and heating related' four major related industry sector business.
In the 2017 financial report of Highly, the Beijing News reporter found that Highly is also actively grasping the opportunities of the new energy automobile industry. In early 2017, Shanghai Highly New Energy Technology Co., Ltd. was officially listed and operated, increasing R&D investment and capacity building. And market development. According to the statistics of China Association of Automobile Manufacturers, the output of China's new energy vehicles in 2017 was 794,400 units. According to this calculation, the sales volume of electric scroll compressors for Haili vehicles was 83,300 units in 2017, accounting for the national market share of new energy vehicles. 10.49%.
Up to now, Gree Electric has twice advertised Haili shares, what exactly is it intended? Home appliance industry expert Liu Buchen told the Beijing News: 'I think that Gree has two purposes: First, further strengthen the air conditioning compressor configuration capability Haili is one of the suppliers of Gree air-conditioning compressors; Secondly, it does not rule out that Gree has the purpose of seizing the upstream compressor resources of air conditioners. As an important production supplier of air-conditioning compressors, Air-conditioning enterprises with desires for Heili are not only Gree. In May of this year, Dong Mingzhu proposed at the Gree 2018 re-launching party that Gree Electric will hit the target of 200 billion yuan in 2018.
As is known to all, Gree Electric Chairman Dong Mingzhu has a 'making a car dream', and after the failure of Gree to acquire Zhuhai Yinlong, he personally took a stake in Zhuhai Yinlong, and then joined hands with Gree Electric Appliances, Zhuhai Yinlong Tianjin Jianxin Energy Automobile Base, In February 2017, Gree Electric announced that in order to cut into the new energy automobile industry, the company plans to sign a cooperation agreement with Zhuhai Yinlong. In the next year, the two parties will give priority to each other's products and services, and the total amount will not exceed 20 billion yuan.
After Gree Electric first advertised Haili shares, Hongshibin, an observer of the home appliance industry, once said that 'Dong Mingzhu is so popular with Haili, on the one hand, Haili’s industry advantage, and on the other hand, it is in the field of new energy vehicle compressors. Expansion to support. Dong Mingzhu will not be a loss-making business, and Haili's independent research and development capabilities and core technologies are of great value.
In June of this year, Zhuhai Yinlong heard the news of 'IPO termination counseling', and Dong Mingzhu's 'making a car dream' was once again blocked. Immediately afterwards, Gree completed the second placard of Highly shares.
Hong Shibin analyzed the reporter of the Beijing News yesterday: 'To be a new energy vehicle, the compressor is very important. Gree Electric has a brand of Haili, which is actually making up for the core components of Yinlong, because Dong Mingzhu now has all the energy and resources. Still on the silver dragon, the current work is to firmly grasp the core components, so that the future can support the Yinlong.
Liu Buchen, an expert in the home appliance industry, believes that Dong Mingzhu’s own investment has become the second largest shareholder of Yinlong. The actual controller is not equal to Gree’s entry into the field of new energy vehicles.
On July 5, the Beijing News reporter called the company's board secretary twice according to the contact information of Gree Electric's 2017 financial report. The phone failed to connect. The reporter sent the interview outline to the mailbox disclosed in his financial report. As of the final draft, it failed to accept. To reply.
Approaching the shareholding ratio of the two shareholders, will it continue to placard?
According to the quarterly report of Highly Shares in 2018, as of the end of the reporting period, the top three shareholders of the company were Shanghai Electric (Group) Corporation, Hangzhou Fusheng Holdings Co., Ltd., Zhuhai Gree Electric Co., Ltd., and the corresponding shareholding ratio was 20.22%. , 10.18%, 5%.
This means that after the second placard, if the first and second largest shareholders hold the same shares, Gree Electric has approached the shareholding ratio of the second largest shareholder.
According to the first quarter earnings report of Gree Electric in 2018, Gree Electric purchased 5% of the shares of Highly, which cost about 568 million yuan. At present, Gree Electric's shareholding in Highly shares is 10%, a rough estimate, Gree Electric for these stocks It cost about 1 billion yuan.
Liu Buchen, an expert in the home appliance industry, believes that 'Greek's ability to continue to increase its stake in Heili shares is not ruled out, and even the possibility of seeking control is not ruled out.'
In Gree Electric's 2017 financial report, the Beijing News reporter found that Gree Electric Appliances promised to Highly Shares on September 23, 2017 (1) not to hold the held shares of Highly Shares within the next 12 months; 2) In the next 12 months, if the controlling shareholder of Highly has a new equity transfer plan, the company promises to participate in the new equity transfer plan.
Gree Electric currently has a subsidiary company, Zhuhai Lingda Compressor Co., Ltd., which is mainly engaged in compressor manufacturing. Tianli inspection data shows that Gree Electric Appliances holds 100% shares of Zhuhai Lingda. Gree Electric Appliances Report shows that Zhuhai Ling The legal person and chairman of the company are Dong Mingzhu. In 2017, Zhuhai Lingda's operating income was about 13.476 billion yuan, and the net profit was about 715 million yuan.
'This year, Gree and Highly's connected transactions do not exceed 2.5 billion'
According to media reports, at the '3rd China Manufacturing Summit Forum' in November 2017, Dong Mingzhu publicly stated: 'Hai Li and we have more than ten years of feelings. 20 years ago, the technical quality of Highly is not very good. Ok, we have been exploring and developing together. We put forward new standards and requirements for the quality of our products around the customers and consumers. Gree and Highly communicated unreservedly on technical issues during the cooperation process. Advancing Haili's rapid growth.'
The reporter inquired about past news reports and found that Dong Mingzhu and Shen Jianfang, chairman of Haili Co., who left office last year (terms: 2008-06-27 to 2017-12-12), are indeed in the same box.
In Gree Electric's 2017 financial report, the reporter saw that there is a payable amount of about 461 million yuan, and the corresponding related party is Shanghai Highly (Group) Co., Ltd. and its subsidiaries. In Haili shares 2017 In the annual financial report, the company's annual accounts receivable balance at the end of the year was about 1.944 billion yuan.
On April 26 this year, Gree Electric announced that in 2018, it is expected that the total amount of daily related transactions such as purchases and sales of products of the Company and its subsidiaries will not exceed RMB 2.5 billion, accounting for the latest issue of the company. The audited net assets are 3.76%. At present, the proposal has been submitted to the 2017 annual general meeting for consideration after the board of directors has reviewed and approved the proposal.