① The actual controller of Minglida divorced after less than two years of listing, and the ex-wife split shares worth 1.7 billion yuan, and now the stock price has fallen below the issue price; ② Since this year, according to incomplete statistics, Changchun Hi-Tech, Reliable Co., Ltd., and Beauty Beauty have all issued sky-high divorce and separation fee announcements; ③ Reliable Shares and Liren Beauty's stock prices have all dropped by more than 80% compared to the high stock prices at the beginning of the listing.
Financial Services Association, April 3 (Editor: Ga Chen) A shares are now getting divorced again at sky-high prices. Meanwhile, half a month ago, on March 15, the Securities Regulatory Commission just issued “Opinions on Strengthening the Supervision of Listed Companies (Trial)”, which requires strict supervision of detours to reduce holdings through divorce, pledge settlement, etc. Ming Lida issued an announcement on Tuesday evening saying that the company's chairman Tao Cheng and his wife Lu Pingfang were dissolved due to their marriage and that their assets were divided according to the “Divorce Agreement”. Based on today's closing price of 22.65 yuan, Tao Cheng's former wife Lu Pingfang received shares worth about 1.68 billion yuan as a result of this equity change. Since this year, according to incomplete statistics from the Financial Federation, previously Changchun Hi-Tech, Beauty Beauty, and Reliable Co., Ltd. also announced sky-high divorce and separation fees.
▌After Ming Lida's shareholders' rights changed due to the dissolution of the marriage relationship, Tao Cheng, Lu Pingfang, and other actors involved in the joint venture to calculate the majority shareholder status
In the context of strict control, the divorce of Minglida's actual controller and his wife also attracted a lot of attention. The day after the announcement, Minglida opened low today, with a closing report of 22.65 yuan/share, a decrease of 6.33%, lower than the issue price of 28.5 yuan/share at the time of the 2022 IPO. Looking at it over a long period of time, the biggest cumulative decline in Minglida's stock price so far is 75% compared to its all-time high of 67.87 yuan at the beginning of listing. According to Minglida's announcement, after negotiations, Tao Cheng plans to split and transfer approximately 10.874,900 shares of the company directly held by him to Ms. Lu Pingfang, and plans to split and transfer 41.44% of Da Lei's shares (which indirectly corresponds to about 63.364,800 shares of the company) to Lu Pingfang. After this change in equity, Tao Cheng no longer directly held Minglida shares. In total, he indirectly held about 105 million shares of the company, accounting for 26.36% of the company's total share capital. Lu Pingfang held a total of about 81.8843 million shares through direct and indirect means, accounting for 20.47% of the company's total share capital.
Previously, Tao Cheng held a total of about 180 million shares of the company through direct shareholding and indirect shareholding, accounting for 44.92% of the company's total share capital. Ming Lida said in the announcement that Tao Cheng, Lu Ping, and Lu Changjun have signed a “Concerted Action Agreement”, and the above matters will cause changes in the company rights held by Tao Cheng and Lu Pingfang respectively. However, it will not cause a change in the actual controller of the company, and does not involve a change in the company's control. In July of last year, the Securities Regulatory Commission issued new regulations to restrict the act of majority shareholders and others of listed companies “taking a detour to reduce their holdings” through divorce. In response, Minglida mentioned in the announcement that since the current change in the company's shareholders' rights and interests due to the dissolution of the marriage relationship, Tao Cheng, Lu Pingfang, and other actors involved will combine to calculate the status of majority shareholders. The holdings reduction will be in strict accordance with relevant regulations, including regulations such as continued sharing of majority shareholders to reduce their holdings by no more than 1% within 90 consecutive natural days through centralized bidding transactions, and that the shares transferred each year during Tao Cheng's tenure must not exceed 25% of the total number of company shares held by each of them.
According to data, Minglida is mainly engaged in the precision structural parts manufacturing industry. The company's main products include precision structural parts and molds for various processes. The application fields mainly include photovoltaics, energy storage, security, new energy vehicles, and consumer electronics. Tao Cheng, the actual controller, was born in 1975 in Zhenjiang, Jiangsu. Tao Cheng started from scratch. After graduating from college, he only went south to Shenzhen, Guangdong. After many years of experience, he resigned from ZTE in 2004 and joined the entrepreneurial army to establish Minglida in the Shenzhen Self-Reliance Gateway. Lu Pingfang was also born in 1975 in Zhenjiang, Jiangsu. According to Minglida's announcement, in addition to being the executive director and manager of Dalei Investment, the controlling shareholder of the company, Lu Pingfang also controls Shenzhen Hetai Biotechnology Co., Ltd. In terms of performance, in the first three quarters of 2023, Minglida achieved revenue of 3.141 billion yuan, an increase of 51% year on year; net profit of 292 million yuan, an increase of 32% year on year.
In fact, the A-share “divorce drama” has always attracted much attention. On the evening of March 25, Beauty Beauty, an online cosmetics retail service provider whose main business is beauty, revealed the divorce dispute between the controlling shareholder and actual controller Huang Tao and his former wife, Weng Shuhua. Beauty Beauty stated in the announcement that Weng Shuhua requested the division of property to transfer 1/8 of the total 134 million shares registered under Huang Tao's shares, or 16.75.38 million shares. Based on the closing price of 8.04 yuan/share on March 26, the market value of this share is about 135 million yuan. Looking at it over a long period of time, the biggest cumulative decline in stock price so far is 88.7% compared to its all-time high of 54.89 yuan at the beginning of the listing. Beauty Beauty announced on March 28 that revenue for 2023 was 2,762 billion yuan, a year-on-year decrease of 14.78%; net profit attributable to owners of the parent company was 295.276 million yuan, with a net loss of 139 million yuan for the same period last year, turning a loss into a profit.
Reliable Co., Ltd., which focuses on the design of disposable hygiene products, announced on the evening of February 28 that the actual controller of the company, Jin Wei, and Bao Jia have completed procedures to dissolve the marriage relationship and made relevant arrangements on matters such as the division of shares. Based on the closing price on February 28, the two will split shares with a market value exceeding 1.3 billion yuan. According to public information, Jin Liwei, born in 1970, is an EMBA student at the Yangtze River Business School. From 1999 to 2006, he was the general manager of Lin'an Qiaozi Auto Maintenance Co., Ltd.; founded Hangzhou Qiaozi Paper Co., Ltd. in 2001, and later changed its name to Hangzhou Dependable Care Products Co., Ltd., as the company's chairman. His former wife, Bao Jia, was born in November 1981. She has a bachelor's degree from Zhejiang University, majoring in business English. Since 2004, he has served successively as the manager of the Ministry of Foreign Trade of Reliable Care, Director of International Sales, Director of Human Resources Administration, Special Assistant to the Chairman, and Deputy General Manager, and since 2022, he has held the position of general manager for a short time. Reliable Co., Ltd. was first founded in 2001 and listed on the GEM on June 17, 2021. In other words, in this divorce case between actual controllers, it has been less than three years since reliable shares were listed. Looking at it over a long period of time, the biggest cumulative decline in the stock price so far is 82.11% compared to its all-time high of 38 yuan at the beginning of listing. Reliability Co., Ltd. announced a performance forecast on January 29. Net profit attributable to shareholders of listed companies is expected to be 17 million yuan to 25 million yuan in 2023, turning a loss into a profit over the previous year.
“Northeast Yao Mao” Changchun Hi-Tech announced on January 11 that Jin Lei, a shareholder holding more than 5% of the company's shares, and Wang Simian have gone through the dissolution of their marriage through an agreement. Previously, Jin Lei held a total of 8.56% of Changchun Hi-Tech's shares, and according to the divorce agreement, Jin Lei will split 7.42% of Changchun Hi-Tech's shares under Wang Simian's name. If we calculate the closing price of Changchun Hi-Tech on January 11, the “break-up fee” for Jin Lei's current divorce to his ex-wife is worth more than 4 billion yuan. Over time, the biggest cumulative decline in Changchun Hi-Tech's stock price since the phase high in November 2021 is 79.42%.
According to public reports, Jin Lei is a native of Nanchang, Jiangxi. He graduated from Peking University in 1985, then completed his doctorate in the US and joined Gentech to engage in genetic engineering research on growth hormone. Gentech is the founder of the biotechnology industry. In 1996, Jin Lei returned to China to start a business after receiving the “Craven Award”, the highest honor in the American biological community. Changchun Hi-Tech released its 2023 annual report on March 19. Net profit attributable to shareholders of listed companies in 2023 was 4.532 billion yuan, an increase of 9.47% over the previous year. Changchun Hi-Tech's net profit for Q3 of 2023 was 1,452 million yuan. Based on this calculation, Q4 2023 net profit was 920 million yuan, a decrease of 37% over the previous month.