On May 14th, Foshan Lighting announced that the company's shareholding company Guoxuan Hi-Tech successfully achieved a backdoor listing, and the relevant transfer procedures have been completed. But this good news did not cause the company's stock price to skyrocket, only rose by 0.56% yesterday.
Foshan Lighting announced that on May 14th, the company received a notice from Guoxuan High-Tech, and the asset transfer procedures for Guoxuan Hi-Tech's listing of Dongyuan Electric were completed. Therefore, Foshan Lighting was changed from the original holding Guoxuan Hi-Tech shares to holding Dongyuan Electric. After the change, the company held 73 million shares of Dongyuan Electric, accounting for 8.4% of its total share capital.
The shareholding company's backdoor listing means that Foshan Lighting's equity investment a few years ago will be multiplied.
According to the announcement, Foshan Lighting won 30 million shares of Guoxuan Hi-Tech in 2010 at a price of 160 million yuan, accounting for 14.84%. After Guoxuan Hi-Tech is listed on the backdoor, Foshan Lighting will hold 73 million shares of Dongyuan Electric, and the transaction consideration is 497 million. According to this calculation, Foshan Lighting's equity has increased by 210.6% compared with 2010.
"Guo Xuan Hi-Tech backdoor Dongyuan Electric has been successful, but it still needs to be locked for one year after the real lifting of the ban. (Company) has achieved a relatively large book value increase." Foshan Lighting Securities Department told reporters.
It is worth mentioning that Foshan Lighting's 2014 revenue and net profit were 3.069 billion yuan and 267 million yuan respectively, up 21.45% and 5.68% year-on-year respectively. The above-mentioned equity appreciation has exceeded the full-year net profit of Foshan Lighting last year.
Foshan Lighting announced that on May 14th, the company received a notice from Guoxuan High-Tech, and the asset transfer procedures for Guoxuan Hi-Tech's listing of Dongyuan Electric were completed. Therefore, Foshan Lighting was changed from the original holding Guoxuan Hi-Tech shares to holding Dongyuan Electric. After the change, the company held 73 million shares of Dongyuan Electric, accounting for 8.4% of its total share capital.
The shareholding company's backdoor listing means that Foshan Lighting's equity investment a few years ago will be multiplied.
According to the announcement, Foshan Lighting won 30 million shares of Guoxuan Hi-Tech in 2010 at a price of 160 million yuan, accounting for 14.84%. After Guoxuan Hi-Tech is listed on the backdoor, Foshan Lighting will hold 73 million shares of Dongyuan Electric, and the transaction consideration is 497 million. According to this calculation, Foshan Lighting's equity has increased by 210.6% compared with 2010.
"Guo Xuan Hi-Tech backdoor Dongyuan Electric has been successful, but it still needs to be locked for one year after the real lifting of the ban. (Company) has achieved a relatively large book value increase." Foshan Lighting Securities Department told reporters.
It is worth mentioning that Foshan Lighting's 2014 revenue and net profit were 3.069 billion yuan and 267 million yuan respectively, up 21.45% and 5.68% year-on-year respectively. The above-mentioned equity appreciation has exceeded the full-year net profit of Foshan Lighting last year.
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