The market value once rose nearly 40 billion yuan.
This Haikou company is going higher and higher under the leadership of the second generation female leader. After the 60s, she took over the burden from her father and resolutely "borrowed money to buy", leading the company's market value from less than 5 billion yuan to more than 40 billion yuan. Now, in order to promote the development of overseas business, this company is actively promoting listing in Hong Kong, and is expected to become the first photovoltaic cell manufacturer listed in A+H shares. On February 21 this year, Hainan Junda New Energy Technology Co., Ltd. (Junda Shares, hereinafter referred to as "Junda") formally submitted filing materials to the CSRC for direct overseas listing. In less than three months, Junda has passed the IPO filing of the CSRC and plans to issue no more than 87167800 overseas listed ordinary shares and list them on the Stock Exchange of Hong Kong. According to the prospectus, Junda's raised capital will be used for overseas production capacity construction of high-efficiency batteries, overseas market expansion, overseas sales and operation system construction, global R&D center construction and supplementary working capital. The second generation of female leaders borrowed money to buy, and the market value once rose nearly 40 billion In April 2003, Yang Renyuan, a former electrician, accountant, and factory director, established Junda Shares in Haikou, becoming the original helmsman of the company.
From 2018 to 2020, Junda's net profit returned to the parent company dropped for three consecutive years. Against this background, Yang Xiaohong, born in 1966, "inherited her father's career" and officially became the female leader of Junda in 2019. Subsequently, Junda "had to" start transformation. In September 2021, Yang Xiaohong made a decisive move and invested 1.434 billion yuan to acquire 51% of Jietai's equity. The company officially entered the photovoltaic industry from the automotive interior. It is worth mentioning that Junda's net assets at the end of 2020 are only 1.048 billion yuan, and its book capital is only 300 million yuan. Lu Xiaohong has just raised enough funds to complete the transaction by means of a 600 million yuan loan application and "share transfer". It turned out that Yang Xiaohong was right. Since then, Junda's share price has ended its long-term sideways trading mode and started to rise significantly. Yang Xiaohong, who pursued the victory, continued to invest 1.519 billion yuan in June 2022 to acquire the remaining 49% equity of Jietai. After the completion of the transaction, Jietai became a 100% holding subsidiary of Junda. This will further push Junda's market value to the "peak" by the end of 2022. Based on the price peak of 189.97 yuan/share, Junda's market value reached 43.4 billion yuan, up nearly 40 billion yuan from the market value of about 4 billion yuan before the acquisition of Jietai in August 2021. Source: Baidu Stock Connect According to the prospectus, as of March 31, 2024, the Yang family held 20.46% of the shares through Hainan Jindi Technology Investment Co., Ltd., and Yang Xiaohong directly held about 2.32%. In addition, Shangrao Economic and Technological Development Zone Industrial Development Investment Co., Ltd., the largest external shareholder of Junda, holds about 9.78% shares. Q1 Profitability has dropped and is accelerating to go to sea
According to Frost Sullivan's data, based on the six months' shipments as of June 30, 2023, Junda's N-type TOPCon battery has reached about 57.4% of the global market share, ranking first, and the global market share of photovoltaic cells has reached about 10.8%, ranking fifth. It should be noted that in June 2022, along with Junda's acquisition of the remaining shares of Jietai, the company also completed the delivery of assets related to the automotive trim business, and since then it has completely turned to the photovoltaic cell business. In this year, the company's revenue and profit both increased by about 6 times. The prospectus submitted by Junda shows that its revenue from continuing operations (photovoltaic cell business) in 2021-2022 and the first three quarters of 2023 is about 1.639 billion yuan, 11.086 billion yuan and 14.342 billion yuan respectively; Gross profit was about 207 million yuan, 1215 million yuan and 2.488 billion yuan respectively. In March this year, the performance report released by Junda showed that from 2021-2023, the company's operating revenue was about 2.863 billion yuan, 11.595 billion yuan and 18.657 billion yuan; The net profit is about 179 million yuan, 717 million yuan and 816 million yuan. Source: Junda Annual Report In the first quarter of this year, Junda's revenue was about 3.714 billion yuan, down 6.38% from 3.967 billion yuan in the same period last year; The net profit was about 19.7541 million yuan, down 94.42% from 354 million yuan in the same period last year. It is not difficult to find that Junda is facing the dilemma of "profit" decline. However, the company has already seized the new opportunity of "going to sea". In 2023, Junda has completed customer development in Asia, Europe and other regions, and actively completed customer certification in North America, Latin America, Australia and other emerging markets. The proportion of overseas sales of the company in that year has increased significantly from 0.29% to about 4.69%. In 2024, Junda's "sea going" will accelerate significantly. The financial report shows that the company achieved 431 million yuan of overseas sales in the first quarter, and the proportion of overseas sales increased significantly from 4.69% in 2023 to 11.62% in the first quarter of 2024. At the same time, Junda is actively conducting overseas market research, promoting the site selection and implementation of overseas high-efficiency battery projects, and further strengthening the supply capacity of photovoltaic cells in overseas markets. At the recent performance presentation meeting, the "going to sea" issue mentioned by investors was addressed. Junda said that the company's goal is to increase the proportion of overseas sales to more than 10% by 2024.
