① Dayong Co., Ltd. plans to reduce the company's shares by no more than 1.03 million shares through centralized bidding or bulk transactions. The capital behind this is today's capital. ② A Financial Services Association reporter combed through the company announcement and found that before this announcement, Dayong Limited had already taken steps to reduce its holdings twice. After reducing its holdings twice, Dayong Limited's shareholding ratio dropped from 30.3% to 23.05%.
Financial Services Association, May 17 (Reporter Wu Weiling) At a time of price cuts and transformation, Liangpin Store (603719.SH) was repeatedly reduced by major shareholders. This evening, Liangpin Store issued two consecutive holdings reduction announcements. The two major shareholders plan to reduce their holdings by no more than 24.06 million shares in total, accounting for about 6% of the company's total share capital.
As for major shareholders who have reduced their holdings several times, people from Liangpinpu's subsidiary told the Finance Association reporter that, as stated in the announcement, it was mainly due to the shareholders' own capital requirements.
According to the evening announcement, the controlling shareholder, Ningbo Hanyi Venture Capital Partnership (“Ningbo Hanyi”), and Dayong Co., Ltd. (“Dayong Limited”), the non-largest shareholder holding 5% or more of the shares, plan to reduce their holdings in the company through centralized bidding or bulk transactions. Ningbo Hanyi and Dayong Limited each plan to reduce their holdings by no more than 1.03 million shares, with a total reduction ratio of no more than 6% of the company's total share capital. The auction trading holdings reduction period starts on June 11 and ends on September 10.
As of today's close, the total market value of Liangpin Store was 6.207 billion yuan. According to this estimate, the total reduction amount of holdings was no more than 372 million yuan.
According to public information, the capital behind Dayong Limited is Today's Capital. In 2017, as one of the founders, Dayong Co., Ltd. co-sponsored the establishment of Liangpin Store with companies such as Ningbo Hanyi and Hong Kong Gaolin. Previously, Gao Lin Capital reduced its holdings of good products stores several times, but today's capital performance is relatively calm. However, starting in May of last year, today's capital “can't sit back.”
A Financial Services Association reporter combed through the company's announcement and found that prior to this announcement, Dayong Limited had already reduced its holdings twice. From May to the end of November last year, it reduced its holdings by a total of 17.04 million shares, with a total reduction of 404 million yuan; then, from January to February this year, it reduced its holdings by 1.03 million shares again, with a total amount exceeding 199 million yuan. After two holdings were reduced, Dayong's limited shareholding ratio was reduced from 30.3% to 23.05%.
Ningbo Hanyi is the largest shareholder, with a current shareholding ratio of 35.38%. According to Tianyancha data, the company's partners include four actual controllers: Yang Hongchun, Yang Yinfen, Zhang Guoqiang, and Pan Jihong.
Judging from Liangpin Store itself, it is in a critical period of transformation. Competition on the trillion snack circuit is intense. After net revenue and profit both declined in the first three quarters of 2023, Liangpin Store wanted to return to the “Neighborhood Store” and implemented a price reduction of up to 45% at the end of last year, lowering the prices of more than 300 products.
In terms of results, the move brought revenue growth while also reducing profits. In the first quarter of this year, Liangpin Store achieved revenue of 2,451 billion yuan, a year-on-year increase of 2.79%, and net profit to mother of 62.4828 million yuan, a year-on-year decrease of 57.98%. The company's stock price has not improved, with a cumulative decline of 28.2% from the beginning of the year to date.
A CIFA reporter also noticed that another leading casual snack company, Yanjin Shop (002847.SZ), also recently revealed plans to reduce the majority shareholders' holdings. According to the company's announcement yesterday evening, Zhang Xuewen, one of the actual controllers, plans to reduce his holdings by no more than 2,939,900 shares, accounting for 1.5% of the company's total share capital. The reduction period will run from June 6 to September 4. Zhang Xuewen has a brotherly relationship with Zhang Xuewu, the chairman of Yanjin Shop. According to public information, Zhang Xuewen stopped serving on the board of directors and management of the Yanjin store many years ago.