Stock speculation depends Jin Qilin analyst research report , authoritative, professional, timely and comprehensive, to help you tap potential theme opportunities!
E Company
The heavy purchase came late at night!
On the evening of March 14, Nangang Co., Ltd (600282) The disclosure announcement said that the indirect controlling shareholder Fosun High Tech and its persons acting in concert signed an equity transfer agreement with Shagang Group and Jiangsu Shagang Group Investment Holding Co., Ltd. (hereinafter referred to as "Shagang Investment"), agreeing to transfer 60% of the shares held by Nanjing Nangang Iron and Steel Joint Co., Ltd. (hereinafter referred to as "Nanjing Steel Joint") to Shagang Group and Shagang Investment. The benchmark transfer consideration of this transaction is 13.58 billion yuan.
It is worth noting that Nanjing Iron&Steel Union is the controlling shareholder of Nanjing Iron&Steel Co., Ltd. This transaction means that Nanjing Iron&Steel Co., Ltd. will bid farewell to Fosun Star System and become an important member of Shagang Group.
At the same time, in order to promote the transfer of control rights of Nanjing Steel Union, Fosun High Tech plans to purchase the Wansheng Shares (603010) 174 million shares (about 29.5645% of its total capital stock) and all derived equity, with the transfer price of 2.65 billion yuan. After the transfer of this agreement, the controlling shareholder of Wansheng Shares will be changed from Nangang Shares to Fosun High tech, and the actual controller will still be Guo Guangchang.
Volatile Biefuxing system, Nangang joined Shagang Group
The "predestination" between Nanjing Iron and Steel Co., Ltd. and Fostar began 20 years ago.
In April 2003, Nanjing Iron&Steel Joint Venture Co., Ltd. was established by Nanjing Iron&Steel Group and Fosun Group. The controlling shareholder of Nanjing Iron&Steel Co., Ltd. was changed to Nanjing Iron&Steel Joint Venture Co., Ltd. In October 2010, Nanjing Iron and Steel Co., Ltd. completed a major asset restructuring and realized the overall listing of its main steel industry. The controlling shareholder of the company was changed to Nanjing Iron and Steel Union. The announcement shows that Nanjing Steel Union directly and indirectly holds 59.10% shares of Nanjing Steel.
In October of last year, Nanjing Iron and Steel Co., Ltd. announced that Fostar was interested in transferring its shares in Nanjing Iron and Steel Union to Shagang Group. The consideration of this transaction was not more than 16 billion yuan, and Shagang Group or its designated qualified related party (hereinafter referred to as "the investor") would transfer the target equity.
Now, this heavy equity transfer is coming to the ground.
On March 14, Fosun High tech, the indirect controlling shareholder of Nanjing Iron and Steel Co., Ltd., and its concerted actors Fosun Industrial Investment, Fosun Industrial Development and Shagang Group and its wholly-owned subsidiary, Shagang Investment jointly signed the Equity Transfer Agreement on Nanjing Nangang Iron and Steel Joint Co., Ltd., agreeing that Fosun High tech Fosun Industrial Investment and Fosun Industrial Development plan to transfer 60% equity of Nanjing Steel Union to Shagang Group and Shagang Investment.
The benchmark transfer consideration of this equity transfer is 13.58 billion yuan, of which Shagang Group has paid 8 billion yuan of goodwill fund.
Before this equity change, Fostar System controlled Nanjing Steel Union's 59.10% equity in Nanjing Steel. Guo Guangchang is the actual controller of Nanjing Iron and Steel Co., Ltd. If the equity change is completed this time, Fostar will "liquidate" and leave the site, and the actual controller of the company will change.
Farewell to Fostar Group's Nanjing Iron and Steel Co., Ltd., and usher in the "new owner" of the strength group again.
According to the "List of Global Crude Steel Output Enterprises in 2021" released by the World Iron and Steel Association, the crude steel output of Shagang Group in 2021 will be 44.23 million tons, ranking the fifth in the world, which is only 119.95 million tons next to China Baowu Iron and Steel Group and 55.65 million tons of Ansteel Group in China. Nangang Group ranked 41st on the list with a crude steel output of 11.58 million tons.
As the largest private steel enterprise in China, Shagang Group has been among the world's top 500 for 14 consecutive years, and ranked 291 in 2022. By the end of June 2022, the total assets of Shagang Group had exceeded 230 billion yuan.
World Steel Dynamics (WSD) released the latest competitiveness ranking of world-class steel enterprises in December last year, and Shagang Group ranked 35th in the world.
It should be emphasized that the equity change of Shagang Group and Shagang Investment in the transaction of accepting 60% equity of Nanjing Iron and Steel Union still needs Nanjing Iron and Steel Group Co., Ltd., the shareholder of Nanjing Iron and Steel Union, to give up the right of first refusal, and the company will transfer all its shares in Wansheng to Fosun High Tech The review on concentration of undertakings by the Anti monopoly Bureau of the State Administration of Market Supervision and Administration shall be taken as the precondition.
Nangang "Let go", Wansheng Shares Will still belong to the Fossil system
At the moment when Nanjing Iron and Steel Co., Ltd. bid farewell to Fostar, Wansheng's future also attracted attention.
In April 2022, Nanjing Iron and Steel Co., Ltd. completed the acquisition of Wansheng, a listed company, and expanded its industry into the field of new materials. Wansheng is the world's leading producer and supplier of phosphorus flame retardants. This acquisition of Nanjing Iron and Steel Co., Ltd. also means that Wansheng became the eighth A-share company under Guo Guangchang's command.
Data shows that the investment cost of 174 million shares of Wansheng held by Nanjing Iron and Steel Co., Ltd. is 2.649 billion yuan.
Public reports show that at the 2023 second extraordinary general meeting of shareholders held on March 13, people from Wansheng said, "On the one hand, we are still in the system of Fosun, the actual controller is Guo Guangchang, and on the other hand, we are the holding subsidiary of Nanjing Iron and Steel Co., Ltd. If the equity of Wansheng is not stripped, the equity of Nanjing Iron and Steel Co., Ltd. cannot be disposed of."
On the evening of March 14, the announcement showed that in order to promote the transfer of the control right of Nanjing Steel Union, Fosun High Tech planned to purchase 174 million shares (about 29.5645% of its total capital stock) of Wansheng Shares held by Nanjing Steel Co., Ltd. and all the derived equity through agreement transfer. The transfer price was 2.65 billion yuan, and Fosun High Tech inherited the company's commitment to restrict the transfer of shares.
After the completion of this transaction, Nangang will no longer hold the shares of Wansheng, nor will it be included in the company's consolidated statements.
As of the signing date of the agreement, the corresponding market value of the underlying shares was 2.189 billion yuan.
Share trading and account opening enjoy benefits, give investment advisory services 60 days of experience, one-on-one guidance service!
Massive information, accurate interpretation, all in Sina Finance APP
Editor in charge: Ling Chen
