① Jiangsu Baoli International Investment's controlling shareholder Zhou Dehong is planning to transfer the company's controlling rights, with the opponent being a fund invested by Chizhou State-owned Assets Supervision and Administration Commission. ② Zhou Dehong was sentenced to prison in 2022, and since last year, he has twice attempted to change the controlling rights but has failed each time. ③ In recent years, Chizhou State-owned Assets has rarely invested in A shares, with the only listed company under its control being Anhui Jiuhuashan Tourism Development, which was transferred from the provincial authority last year.
On November 13, Caishare News (Reporter Wu Chao) Jiangsu Baoli International (300135.SZ) controlling shareholder Zhou Dehong, who suffered the disaster of imprisonment at the age of 60, is planning to transfer the controlling rights for the third time. The first two attempts ended in failure, and this time it is Chizhou State-owned Assets that will make the move.
According to the announcement, Jiangsu Baoli International recently received a notification from the company's controlling shareholder and actual controller Zhou Dehong, and his concerted action Zhou Xiufeng, that they are planning a share transfer, with the total share transfer ratio expected to account for 22.57% of the company's total share capital.
The counterparty of this transaction is Chizhou Investco Equity Investment Fund Partnership (Limited Partnership). If the aforementioned transaction proceeds smoothly, it will result in a change in the company's controlling rights.
Public information shows that Zhou Dehong, born in 1962, is married to Zhou Xiufeng. Currently, neither of them holds positions in the company, but their son Zhou Wenbin serves as the Chairman and General Manager of the company. He is a post-90s generation.
It is known that after Zhou Dehong was openly accused by his niece Zhou Shifang, he was subsequently sentenced to prison. According to Baoli International's announcement in February 2022, the Intermediate People's Court of Wuxi made a final ruling on the company and Mr. Zhou Dehong's suspected crime of bribing a unit, sentencing him to two years and six months in prison, and imposing a fine of RMB 500,000 for the crime of unit bribery.
Following Zhou Dehong's encounter with this incident, Baoli International also faces a performance predicament of continuous losses from 2021 to 2023. Since last year, there have been two failed attempts to change the controlling rights.
The first acquirer has a deep background in photovoltaics. According to Baoli International's announcement in February 2023, Zhou Dehong and Zhou Xiufeng intend to transfer a small portion of the shares and remaining voting rights to Jiangsu Dongqi. Deng Jie will become the actual controller of the listed company. Deng Jie is also the Chairman of Wuxi New Energy Smart Energy Group.
However, just one month later, jiangsu Dongqi proposed to terminate the original agreement, and all parties signed the "Termination Agreement".
The second incident occurred in October 2023. Zhou Dehong intended to transfer most of the shares to Honghao Information and its concerted action parties, Liu Hongtao and Wei Xingxing, who would become the new controlling shareholders of the company. Regarding Liu Hongtao and Wei Xingxing, jiangsu baoli international investment did not provide much introduction at the time in the announcement, and there was little information available to the public.
A familiar scene reoccurred in February 2024. Due to Honghao Information and its concerted action parties proposing to terminate the original agreement, all parties signed the "Termination Agreement".
The acquirer this time is Chizhou Touke Equity Investment Fund Partnership (Limited Partnership). Tianyancha shows that this is a private fund established in September this year, with a capital investment of 0.76 billion yuan. 99.86% of the fund comes from Chizhou City Industrial Development Fund Co., Ltd., a wholly state-owned enterprise under Chizhou Municipal Investment Holdings Group, with equity ultimately held by Chizhou Municipal State-owned Assets Supervision and Administration Commission.
Cailianshe reporters have noticed that in recent years, Anhui State-owned Assets have been quite active in the capital markets, frequently acquiring controlling stakes of listed companies. However, Chizhou State-owned Assets have made few moves. Choice data shows that currently, among the A shares, Chizhou Municipal State-owned Assets Supervision and Administration Commission only controls one listed company, Anhui Jiuhuashan Tourism Development (603199.SH), which was transferred from provincial ownership to municipal ownership in July last year as required by Anhui Provincial State-owned Assets Supervision and Administration Commission.