On November 26, Caixin reported (Reporter Fang Yanbo) that with the shares held by the 'Copper King' Wang Wenyin repeatedly being judicially auctioned, the control of Jiangsu Amer New Material (002201.SZ) has finally undergone a change.

On the evening of the 25th, Jiangsu Amer New Material issued an announcement, stating that the company's largest shareholder, Jiuding Group, and its concerted action person Gu Qingbo collectively hold 174,708,274 shares of the company, accounting for 26.81% of the total share capital. Among the 9 members of the 11th Board of Directors, the number of directors nominated by Jiuding Group has exceeded more than half of the total number of the board. According to relevant regulations, the controlling shareholder and the actual controller of the company have changed, with the controlling shareholder changing to Jiuding Group and the actual controller changing to Gu Qingbo. Gu Qingbo was also elected as the Chairman of the Board of Directors.

It is worth noting that Jiangsu Amer New Material, originally known as 'Jiuding New Material', had Jiuding Group and Gu Qingbo as its original major shareholder and actual controller. This change in control has brought Jiangsu Amer New Material back into the hands of the actual controller four years ago. As the only listed company under Jiangsu Amer Group, the 'Copper King' Wang Wenyin will no longer hold any shares in any listed company.

In fact, the Jiuding Group has been continuously taking actions on the equity of Jiangsu Amer New Material this year.

In March of this year, the 20.9961 million shares held by Shenzhen Yiwei, the controlling shareholder of Jiangsu Amer New Material, were just judicially auctioned, accounting for 3.22% of the total share capital. Public information shows that Jiuding Group acquired this portion of shares at 0.122 billion yuan. In May, Jiangsu Amer New Material announced that the transfer of this portion of shares had been completed.

In June, Jiangsu Amer New Material announced that Jiuding Group and its concerted action person Gu Qingbo increased their holdings by 9.4281 million shares from May 29th to June 5th, accounting for 1.45% of the total share capital of the company. They plan to continue increasing their holdings in the future by no less than 6 million shares within the next 6 months through judicial auctions, block trades, and other means.

In October, Jiangsu Amer New Material once again issued an announcement that Shenzhen Yiwei New Materials Co., Ltd. obtained 25.2101 million shares of the company's stock by Jiuding Group at a bid of 94.9917 million yuan.

Public information shows that Jiuding Group was established in 1972, and the chairman Gu Qingbo was born in 1948, now 76 years old. In addition to the manufacturing and sales of fiberglass deep-processed products, fiberglass composite materials, high-performance fiberglass, and high-performance fiberglass reinforced substrates by jiangsu amer new material, Jiuding Group also has more than ten member enterprises such as Nantong Jiuding Knitwear Co., Ltd., Jiangsu Jiuding Real Estate Development Co., Ltd., and Jiangsu Jiuding New Energy Co., Ltd.

However, looking back at the past performance of jiangsu amer new material, before the acquisition by the Jiuding Group in 2019, jiangsu amer new material's revenue scale was only about 1 billion yuan at most, and the net income attributable to shareholders was also below 30 million yuan. After the acquisition by the Jiuding Group, the company's revenue surpassed 1.7 billion yuan last year, and the net income attributable to shareholders also exceeded 40 million yuan in 2021.