Word limit!Jiangsu Cathay Pacific spin-off subsidiary listed four institutions surprise shares

Word limit!Jiangsu Cathay Pacific spin-off subsidiary listed four institutions “surprise shares”
Stimulated by the news that the spin-off subsidiary went public on the GEM, on April 29, Jiangsu Cathay Pacific closed at the daily limit of 5.RMB 91 / share, up 10.06%.In the past two months, Jiangsu Cathay Pacific experienced a downward trend, which reached its highest point of the year from February 25 to 8.89 yuan / share, fell to a low of 5 April 28.22 yuan / share, gradually falling by 41.28%.On April 28, the listed company Jiangsu Guotai International Group Co., Ltd. (stock abbreviation: Jiangsu Guotai 002091) announced that the company planned to split its subsidiary Jiangsu Ruitai New Energy Materials Co., Ltd. (hereinafter referred to as “Ruitai New Energy”))) Listed on the Shenzhen Stock Exchange GEM.After the completion of the spin-off and listing, Jiangsu Guotai will still maintain a controlling stake in Ruitai New Energy.According to the information, the controlling shareholder of Jiangsu Cathay Pacific is Jiangsu Cathay Pacific International Trade Co., Ltd. (hereinafter referred to as “Cathay Pacific International Trade”), and it holds 33 shares of Jiangsu Cathay Pacific.3%, 100% controlled by Zhangjiagang Municipal People’s GovernmentIn essence, Jiangsu Cathay Pacific holds 100% of the shares of the subsidiary Ruitai New Energy.According to the data, the main businesses of Jiangsu Guotai, a listed company, include supply chain services and chemical new energy business. The company’s supply chain services mainly involve import and export trade of consumer goods and e-commerce platforms, and mainly focus on import and export trade of consumer goods, while Ruitai New Energy isIts development platform for new chemical materials and new energy businesses.Among them, Ruitai New Energy has a holding subsidiary Huarong Chemical and Chaowei New Materials. The former is mainly engaged in the research and development, production and sales of lithium ion battery slurry and plug-in coupling agent.Including lithium ion battery electrolyte and additives, super capacitor electrolyte and carboxylic acid, lithium ion capacitor oxide, special fluorine chemicals and other fields.The announcement shows that Jiangsu Cathay Pacific achieved total operating income of 345 in 2017-2019, respectively.4.9 billion yuan, 368.6 billion and 393.2.6 billion US dollars, respectively achieved net profit attributable to shareholders of the parent company.7.4 billion, 10.1.6 billion and 9.4.5 billion; in the same period, Ruitai New Energy achieved operating income of 12 respectively.0.9 billion, 12.7.3 billion and 16.8.7 billion US dollars, respectively achieved net profit attributable to shareholders of the parent company.2 billion, 7752.970,000 yuan and 1.9.3 billion yuan.Jiangsu Cathay Pacific pointed out that the profitability of Ruitai New Energy has changed during the historical period, mainly due to the industry’s periodic overcapacity and price wars.In addition, since the outbreak of the New Coronary Pneumonia, most countries and regions around the world have issued strict epidemic prevention and control measures such as closure of the country, closure of the city, entry and exit restrictions, and restrictions on air transportation.After the first quarter of 2020, while the domestic epidemic situation is under overall control, the epidemic prevention diseases of other countries and regions in the world are still not optimistic. Major auto manufacturers have announced the suspension of production, layoff plans, reduced installed capacity of power batteries, and upstream supply of the industrial chain.The impact of downstream demand has become increasingly deep and significant.If the global epidemic situation cannot be effectively controlled, resulting in significant changes in downstream customer demand, it will have an adverse impact on the company’s follow-up operating performance and short-term profitability, and investors are invited to pay attention to related risks.Obviously, while announcing the spin-off of Ruitai New Energy to go public on the GEM, the listed company Jiangsu Guotai also announced that Ruitai New Energy will increase its registered capital by 50 million yuan.Jiangsu Cathay Pacific said that in order to solve the capital needs of Ruitai New Energy, the company proposed to add additional investors and increase the registered capital of Ruitai New Energy, and it will give up its priority to subscribe for capital.Ruitai New Energy plans to increase the registered capital by 50 million yuan this time, and the subscription price for every 1 yuan of registered capital is 6.72 yuan, total financing 3.3.6 billion yuan.The capital increase agreement stipulates that after the signing and before the initial public offering of shares of Ruitai New Energy and listing, if Ruitai New Energy performs subsequent value-added (excluding the issuance and listing of shares), unless the written consent of each investor, the capital increase price for subsequent capital increaseLess than 6 yuan per registered capital.72 yuan, except that capital reserve or undistributed profits are converted into share capital or each shareholder increases capital in the same proportion.The announcement shows that the investors participating in this capital increase include Zhangjiagang Cathay Investment Co., Ltd., Zhangjiagang Industrial Capital Investment Co., Ltd., Zhangjiagang Jincheng Rongchuang Venture Capital Co., Ltd. and Zhangjiagang Jinmao Venture Capital Co., Ltd.Jiangsu Cathay Pacific said that the capital increase has been approved by the State-owned Assets Management Office of Zhangjiagang City.Note: The screenshot is from Jiangsu Cathay Pacific ‘s announcement sauna, night net Xiao Wei Li Yunqi editor Yue Caizhou proofreader Liu Baoqing reporter email: xiaowei @ xjbnews.Combe