Stock speculation depends Jin Qilin analyst research report , authoritative, professional, timely and comprehensive, to help you tap potential theme opportunities!
Every reporter Zhu Chengxiang Every editor Chen Junjie
On the evening of May 19, Paineng Technology (SH688063, with a share price of 64.81 yuan and a market value of 11.382 billion yuan) announced that it had recently received a notice from ZTE New Communications Co., Ltd. (ZTE New for short), the controlling shareholder of the company, and ZTE New had received a notice issued by the Yongqing County Supervision Committee that Wei Zaisheng, the chairman of the company, was being investigated and detained.
Paineng Technology said that as of the disclosure date of this announcement, the company's control has not changed, the board of directors and the board of supervisors are operating normally, and the production and operation of the company and its subsidiaries are in normal order. This event will not have a significant impact on the company's daily production and operation.
Visual Chinese picture In the afternoon of May 19, the reporter from the Daily Economic News called the office of the Secretary of the Board of Pine Science and Technology, but the phone failed to get through.
Long term work in ZTE system
It is reported that Wei Zaisheng graduated from Xi'an University of Technology in 1988, majoring in mechanical manufacturing management engineering, and graduated from Peking University in 2004, majoring in business administration, with a master's degree.
According to the data, Wei Zaisheng worked in Shenzhen ZTE Semiconductor Co., Ltd. from October 1988 to December 1992 as the finance minister; From January 1993 to November 1997, he worked in ZTE New Communication Co., Ltd., and successively served as the regional general manager, assistant general manager, and chief financial officer; November 1997 to September 2017 ZTE Co., Ltd., in charge of the financial and investment management of ZTE Communications Co., Ltd., successively served as CFO, Senior Vice President, Executive Vice President and Director; Since September 2017, he has served as the chairman of ZTE New Communications Co., Ltd; From October 2019 to now, served as the chairman of Shanghai Pine Energy Technology Co., Ltd.
It can be seen that Wei Zaisheng has been working in the system of ZTE Shenzhen, a communications giant for a long time. Among them, ZTE New Communication Co., Ltd. is the largest shareholder of ZTE, and is also the largest shareholder of Pine Technology.
It should be noted that the performance of Pine Technology in the past three quarters is not good. According to the 2023 annual report of Paineng Technology, its losses in the third quarter and fourth quarter of 2023 were 38.3103 million yuan and 139 million yuan respectively.
In addition, according to the first quarter report of 2024, the revenue of Pinen Technology is 396 million yuan, down 79.05% year on year; The net profit attributable to shareholders of the listed company was 4.004 million yuan, a year-on-year decrease of 99.13%; The net profit after deducting non profits is -8428600 yuan.
As for the decline of revenue in the first quarter of 2024, Pine Technology said that it was mainly due to the decline of the company's subsidy policies in some countries and regions during the reporting period, as well as the impact of the destocking of overseas downstream enterprises, the growth of household energy storage market demand slowed down compared to the same period last year, resulting in a decline in operating revenue.
With regard to the decline in net profit, Paineng Technology said that it was mainly due to the decrease in product sales compared with the same period in 2023, and the increase in fixed costs such as depreciation and amortization for the new production line.
The reporter from the Daily Economic News noticed that in the record of investor relations activities in May 2024, regarding the decline of revenue in the third quarter and fourth quarter of 2023, Pinen Technology replied that the third quarter and fourth quarter of 2023 will be affected by the changes in the macro environment, the decline of subsidy policies in some countries and regions, and the impact of destocking of overseas downstream enterprises, Domestic energy storage market demand slowed down compared with the same period last year, so the company's operating income declined. In the first quarter of 2024, the production and sales of the company will recover from the fourth quarter of 2023.
Ningbo Zhongbai Fixed increase of participating companies
It should be noted that previously, Paineng Technology paid more attention to the overseas energy storage market, especially household energy storage. Faced with declining performance, Paineng Technology began to attach importance to the domestic market.
In the record form of investor relations activities in April 2024, Paineng Technology said that in terms of the domestic market, since the second half of 2023, the company has carried out localization deployment in multiple regions, including registering companies in South China, East China and other places, and is committed to taking root and participating in the domestic market business. Pine Technology's participation in the domestic market was low in the past, and it hopes to increase its participation in the domestic market in 2024. Although the overall performance of the company will decline in 2023, the shipment of large energy storage products of the company will grow by multiple times both overseas and domestic. In 2024, it is expected to grow in the large energy storage market.
The reporter of the Daily Economic News noticed that with the decline of performance, the stock price of Pine Technology also fell continuously. In 2022, when household energy storage was booming, Paineng Technology once offered a fixed increase of 5 billion yuan. The participants included several public funds and Ningbo Zhongbai, a listed company controlled by the Xu Xiang family.
According to the announcement on the results of issuing shares to specific targets and changes in share capital in 2022 disclosed in February 2023, Paineng Technology issued 200601000 shares, raised funds of RMB 5.00 billion, and the issue price was 249.25 yuan/share.
Among them, Ningbo Zhongbai has been allocated 802400 shares, with an amount of 200 million yuan, and the restricted period of shares is 6 months. The largest shareholder of Ningbo Zhongbai is Tibet Zetian Investment Development Co., Ltd., with a shareholding ratio of 15.78%. The two major shareholders of Tibet Zetian Investment Development Co., Ltd. are Xu Bailiang and Zheng Suzhen, with the shareholding ratio of 99% and 1% respectively.
Xu Bailiang and Zheng Suzhen are Xu Xiang's parents.
According to the 2023 annual report of Ningbo Zhongbai, during the reporting period, the cash dividend of Pine Tech was 1.75 million yuan, and the loss from changes in fair value was 115 million yuan at the end of the period. That is to say, Ningbo Zhongbai participated in the fixed increase and floating loss of Paineng Technology by nearly half.
As of December 29, 2023, Paineng Technology had reported 106.00 yuan per share. As of May 20, Paineng Technology reported 64.81 yuan per share. Obviously, if Ningbo Zhongbai does not sell, this investment will suffer further losses.
When the stock market recovers, open an account first! Intelligent fixed investment, condition sheet, individual stock radar... for you>>
Massive information, accurate interpretation, all in Sina Finance APP
