Changjiang Commercial Daily News Reporter Li Qiguang of Changjiang Commercial Daily
Daheng Technology is returning a large amount of funds by selling houses and shares in fund companies.
On June 25, Daheng Technology (600288.SH) announced that the company plans to sell a two-storey property located in its Beijing headquarters with a minimum sale price of 171 million yuan.At the same time, the company announced that it plans to sell 20% of the shares held by Lion Fund, and the price is not less than 1 billion yuan.According to the two announcements, Daheng Technology can withdraw a minimum of 1.17 billion yuan of funds.
Also on June 25, Daheng Technology announced that Zhongke Industrial Group intends to transfer its entire 27.30% stake in China Daheng.China Daheng is a holding subsidiary of Daheng Technology, which currently holds 72.70% of the shares.
The Changjiang Commercial Daily reporter found that the 27.30% stake in China Daheng was valued at about 242 million yuan, but due to the company's good profitability, the actual valuation is estimated to be higher than 240 million yuan.
Rumors of selling equity in fund companies come true
The main business of Daheng Technology includes four major sectors: opto-mechatronics, information technology and office automation, digital TV network editing and playback systems and semiconductor components.
On June 25, Daheng Technology announced that the company plans to sell the 9th and 10th floors of the North Tower of Daheng Technology Building, No. 3 Suzhou Street, Haidian District, Beijing, with a total construction area of 4263.98 square meters (of which each floor has a construction area of 2131.99 square meters). meters, with a built-up area of 1691.96 square meters) of its own office real estate.
Daheng Technology said that the company will refer to the market price and consider various factors such as the company's actual needs, and the final transaction price will be no less than 40,000 yuan / square meter (if there is a difference with the assessed value, whichever is higher).
The Changjiang Commercial Daily reporter found that according to the above prices, the lowest selling price of the two-story building of Daheng Technology reached 171 million yuan.
The Changjiang Commercial Daily reporter found that the house price near Daheng Science and Technology Building is about 100,000 yuan per square meter, and the actual transaction price of the company may be significantly higher than the assessed value.
Daheng Technology stated that the sale of real estate will help revitalize the company's stock assets and improve the efficiency of asset operation. The proceeds from this transaction will be mainly used to supplement the company's daily working capital needs and promote the development of the company's main business.
On the same day, Daheng Technology also announced that the company plans to sell its 20% stake in Lion Fund Management Co., Ltd.
Daheng Technology introduced that since the matter is currently in the planning stage, and subsequent demonstration procedures such as auditing and evaluation are required, the company intends to take no less than 1 billion yuan (if there is a difference with the evaluation value, whichever is higher) is the final Price to sell this part of the stake.
According to the data, in the first quarter of 2021 and 2022, Lion Fund’s operating income was 1.124 billion yuan and 257 million yuan respectively, and its net profit was 305 million yuan and 66.3354 million yuan, respectively. The operation is in good condition.
Daheng Technology said that the company sells the equity of the target company based on comprehensive considerations such as revitalizing the stock assets, which is also conducive to the company's realization of investment income and increasing the company's operating funds.
It should be mentioned that on May 30, Daheng Technology issued a clarification announcement stating that the company noticed recent media reports that the company "plans to sell 20% of its 20% stake in Lion Fund, etc.".
Daheng Technology stated that the company currently has only preliminary intention to sell the equity of Lion Fund, and has not formed any resolution, nor has it signed an asset sale agreement with any relevant parties.
Unexpectedly, after less than a month, the rumors became reality.
The Changjiang Commercial Daily reporter found that, on the whole, Daheng Technology announced the news of selling houses and selling funds on the same day, and the minimum amount of funds that can be recovered is 1.17 billion yuan.
China Daheng's annual revenue increased by 11% and gross profit margin rose slightly
Listed companies sell assets to collect funds, usually because of poor performance or urgent need for cash.
The data shows that from 2019 to 2021, Daheng Technology's operating income was 3.306 billion yuan, 2.315 billion yuan and 2.537 billion yuan respectively, an increase of -1.09%, -29.97% and 9.59% year-on-year respectively; net profit was 73.0876 million yuan, 57.2282 million yuan and 91.9365 million yuan, an increase of 44.31%, -21.70% and 60.65% year-on-year respectively. Although the performance has fluctuated, it has gradually stabilized and rebounded.
In the first quarter of 2022, Daheng Technology's operating income reached 503 million yuan, a year-on-year increase of 23.66%; net profit loss was 9.2053 million yuan, a year-on-year increase of 61.77%.
Although the loss in the first quarter was 9.2053 million yuan, considering the loss of 24.0769 million yuan in the same period of the previous year, the profitability of Daheng Technology has also improved.
In the first quarterly report, Daheng Technology stated that the narrowing of net profit losses was mainly due to the year-on-year increase in sales profits of new energy products during the reporting period.
As of the end of the first quarter of 2022, Daheng Technology's monetary funds reached 267 million yuan, and short-term loans reached 117 million yuan. The company's cash flow is not tight.
It is worth noting that on June 25, Daheng Technology also issued an acquisition announcement. The company's holding subsidiary China Daheng (Group) Co., Ltd. ("China Daheng" for short) has a registered capital of 300 million yuan and the company holds 72.70 million shares. %) recently received a letter from its minority shareholder, Zhongke Industrial Group, that Zhongke Industrial Group intends to transfer its entire 27.30% stake in China Daheng.
Taking into account the company's capital plan arrangement and the development strategy of focusing on the main business, Daheng Technology stated that the company intends to exercise the right of first refusal to purchase the entire 27.30% equity of China Daheng held by Zhongke Industrial Group in cash.
The 2021 annual report shows that China Daheng's leading industrial machine vision group will achieve operating income of 1.080 billion yuan in 2021, an increase of 23.01% from 878 million yuan in 2020.
In the first quarter of 2021 and 2022, China Daheng's operating income will be 1.665 billion yuan and 388 million yuan respectively, and its net profit will be 48.0252 million yuan and 23.4251 million yuan respectively.Among them, the company's operating income in 2021 will increase by 11.07% year-on-year, and the gross profit margin will increase slightly compared with the same period of the previous year.
As of the end of 2021, China Daheng's net assets were 888 million yuan (audited).
The Changjiang Commercial Daily reporter found that according to the audited data, the 27.30% stake in China Daheng was valued at about 242 million yuan, but due to the company's good profitability, the actual valuation is estimated to be higher than 242 million yuan.
Daheng Technology stated that if the acquisition is completed, China Daheng will become a wholly-owned subsidiary of the company. This transaction will not cause changes in the scope of the company's consolidated statements, and it will meet the company's strategic needs for sustainable development.
