The company's development strategy is to "focus on the research and development of new energy, new materials and energy-saving and environmental protection industries": with the rise of new applications such as 3D printing, the polymer new material industry is developing in the direction of high performance and multi-function. with the continuous expansion of the application field of high-performance thin film materials and the increasing demand for substitution, the new material industry has a broad prospect. As of March 31, 2015, the largest shareholder of the company is Guangdong Guangxin holding Group Co., Ltd. (the largest foreign trade enterprise in Guangdong Province), with 25.90%, and the second largest shareholder is Foshan Fushuo Hongxin Investment Co., Ltd., with a stake of 1.38%.
On May 26, the company announced that its holding subsidiary built the "Guangzhou Nansha Free Trade Zone South China Cross-Border E-commerce Park" with the existing plots in the free trade zone: on May 26, the company announced its holding subsidiary Guangdong Hejie International supply chain Co., Ltd. (the company holds 55% of the shares. Yongjie (Hong Kong) 45%) plans to build a South China cross-border e-commerce park in Guangzhou Nansha Free Trade Zone in Guangzhou Nansha Free Trade Zone. The project site covers an area of about 44327 square meters, and the total construction area of the planned park is about 120000 square meters. The project is based on Nansha and radiates South China, and is built into a cross-border e-commerce agglomeration ecological group integrating platform, supply, warehousing, logistics and supply chain financial services. the initial investment is 46.55 million yuan and the construction period is expected to be 5 months.
It is proposed to raise no more than 200 million for the acquisition of 100% equity in Huagong Baichuan (unlisted), so as to enhance the R & D strength in polymer materials related fields. The project was approved by the CSRC on April 13: Huagong Baichuan relies on South China University of Technology. It has created a high-level R & D team in polymer materials related fields. The transaction price of Huagong Baichuan 100% equity is 714.98 million yuan, and the rest of the companies raise their own funds.
An equity incentive plan (draft) was issued on April 29, with an exercise price of 9.46 yuan for the first batch of stock options: the first batch of stock options granted shall not be exercised within 24 months from the date of grant, and the annual exercise weights for the second to fourth years shall not exceed 33% of the total number of stock options granted, and the exercise conditions must be met, otherwise they will become invalid.
We believe that the current stock price of Fosu Technology has a margin of safety and strong upward momentum, based on: (1) 2015 is the first year of cross-border e-commerce, and supporting policies such as free trade zone and tariff have been put in place one after another; (2) the major shareholder is the largest foreign trade enterprise in Guangdong Province, with annual sales income of about RMB 50 billion and abundant trade flow; (3) the company has a strong driving force to increase its market capitalization soon. (4) with the matching introduction of the equity incentive plan, the first exercise period of the first batch of stock options is 24 months, and the exercise price is only 35% lower than the current market price.