Image source: Shuiyun Qianfan
Announced termination! The stock price fell directly to the limit, and 37 million shares fled wildly on the floor price...
On June 9, Yue Hongyuan A (000573) fell to the limit, and the stock price closed at 4.08 yuan, with more than 370,000 orders at the limit.
On the evening of June 6, Yue Hongyuan A (000573) issued an announcement stating that since the planning of this transaction, the parties to the transaction have negotiated many times on the final plan of the transaction, but failed to reach an agreement on the final plan of the transaction, and failed to reach an agreement on the core terms such as the transaction price. After friendly consultation and sufficient and prudent study between the two parties, it is planned to terminate the major asset restructuring matters planned.
According to the announcement, in January 2025, Yue Hongyuan A signed an intention agreement for share transfer with the transaction counterpart Zhu Kangjian, Wu Shangqing and several companies controlled by them. The company plans to acquire about 60% of Bochuang Intelligent's shares by paying cash.
After preliminary calculations, this transaction is expected to constitute a prescribed major asset restructuring. This transaction does not involve the issuance of shares, does not constitute an associated transaction, and will not lead to changes in the company's control.
According to the announcement, the main products of the target company Bochuang Intelligent are intelligent injection molding equipment. Intelligent injection molding equipment is a working master machine for processing polymer composite materials, and belongs to the high-end equipment manufacturing industry classified in strategic emerging industries.
At that time, Yue Hongyuan A said that the transaction focused on strategic emerging industries, and the company would transform from traditional real estate business to high-end equipment manufacturing, which would help listed companies seek new profit growth points and second growth curve.
Unexpectedly, the transaction was announced to be terminated after half a year!
In this regard, Yue Hongyuan A stated in the announcement that the company has paid the sincerity fund for this transaction provided guarantees through the pledge of 30% of the target company's shares and the performance guarantee for the bank's request, and the funds recovery is controllable. This matter will not adversely affect the company's normal business development and production and operation activities, nor will it harm the interests of the company and shareholders.
Data shows that Yue Hongyuan was established in 1992 and was listed on the Shenzhen Stock Exchange in August 1994. It is the first listed company in Dongguan. The company started in industrial zone development and factory leasing. It is currently mainly engaged in real estate development and business, and is also equipped with hydropower engineering installation and construction, as well as environmentally friendly renewable resource recycling and utilization, raw coal mining and sales.
In terms of performance, from 2022 to 2024, the company achieved revenue of RMB 947 million, RMB 352 million and RMB 490 million, RMB 490 million, RMB 41.55 million, RMB 66.09 million and -47.7 million respectively; regarding the losses in 2024, Yue Hongyuan A explained that it was mainly due to the low operating income in the company's real estate business in this period and the year-on-year decline in investment income...
In the first quarter of 2025, the company achieved revenue of RMB 126 million, a year-on-year increase of 14.73%, and a net profit of RMB 113 million, a year-on-year increase of 721.81%, mainly due to the investment income obtained by the company's transfer of Walnutping Coal Mine...
