China Pacific Insurance Asset Management invested 5.25 million yuan to acquire 0.12% equity of Jilin OLED Material Tech. Last week, the company also participated in the equity transfer of shareholders of Montage Technology and Beijing Roborock Technology. The three sci-tech companies that were invested have a floating profit of nearly RMB 26 million. China Pacific Insurance's Chief Investment Officer Su Gang had previously stated that they would continue to support high-tech growth companies in the secondary market.
According to Caixin, on June 18, CPIC Asset Management has consecutively acquired equity of sci-tech board listed enterprises. It is believed that regulatory policies have prompted long-term investors like insurance companies to move back into the stock market.
On June 18, Jilin OLED Material Tech, a sci-tech board listed company, announced that twelve institutions including China Pacific Insurance Asset Management have collectively acquired a 3% stake of shareholders Xu Jingquan, Xu Lingyi, Li Jixuan and Changchun Juhai Investment Partnership Enterprise (Limited Partnership), holding 6,244,447 shares of the company in total. CPIC Asset Management has acquired 250,000 shares, accounting for 0.12% of the company's total share capital, with a lock-up period of six months.
△Jilin OLED Material Tech Announces Equity Transfer
Aside from Jilin OLED Material Tech, CPIC Asset Management has recently also acquired equity of shareholders of Montage Technology and Beijing Roborock Technology. From the perspective of company attributes, the three companies all belong to high-tech enterprises and cover various subdivisions such as OLED organic material manufacturing, artificial intelligence chip solutions, and intelligent cleaning robots. CPIC Asset Management has already gained a floating profit from investments made in these three companies.
It is worth noting that on June 14th, China Pacific Insurance's Chief Investment Officer Su Gang stated at the "2024 China Gold Yangtze River Private Equity Fund Development Summit" that science and technology finance is a core strategy for the high-quality allocation of insurance assets.
"The goal of technology finance is to provide financial services for the entire life cycle of technology-based enterprises and to improve the level of funding and insurance protection for the transformation of scientific and technological achievements," said Su Gang. "For insurance institutional investments, it is necessary to focus on the national strategic direction of science and technology industries anchored by artificial intelligence, biomedicine, integrated circuits, new generation of information technology, and new energy. We should invest early, invest small, and invest in hard technology in the primary market, and continue to support high-tech growth companies in the secondary market through the long-term advantages of insurance funds, accompany technology companies' growth and ultimately realize the long-term value appreciation of insurance funds. "
CPIC Asset Management invested RMB 5.25 million to acquire 0.12% equity of Jilin OLED Material Tech.
According to the announcement by Jilin OLED Material Tech, 12 institutions including CPIC Asset Management have collectively acquired shareholders Xu Jingquan, Xu Lingyi, Li Jixuan and Changchun Juhai Investment Partnership Enterprise's equity transfer.
The buyers mostly from the fund industry are comprised of 1 public fund, 10 private funds, and 1 insurance company, CPIC Asset Management. Among them, Nord Fund Management Co. acquired 2,334,447 shares, accounting for 1.12% of the total share capital, and is a major buyer in this equity transfer.
CPIC Asset Management acquired 250,000 shares of Jilin OLED Material Tech, accounting for 0.12% of the total share capital, at an eventually confirmed transfer price of RMB 21.00/share. It is estimated that CPIC Asset Management's participation in this equity transfer involves capital of approximately RMB 5.25 million.
It is noted that since July 2020, holders of pre-IPO shares have been testing the waters with inquiry prices for reduction by way of transfer.
On the evening of June 7th, Jilin OLED Material Tech announced that shareholders Xu Jingquan, Xu Lingyi, Li Jixuan, and Changchun Juhai Investment Partnership Enterprise (Limited Partnership) intended to invite inquiry or negotiate prices to sell a total of 6,244,447 shares or 3% of the company's total share capital to specific institutional investors before the initial public offering.
CPIC Asset Management has consecutively acquired equity of multiple sci-tech board listed companies, with a floating profit already in place.
It is worth noting that while TaiBao Asset Management was taking over the shares of Oled Material Tech's major shareholder, it also participated in the shareholders' inquiry and transfer of Montage Technology and Beijing Roborock Technology.
Also on the evening of June 7th, Beijing Roborock Technology announced that Chang Jing was the shareholder participating in the pre-IPO shareholders' inquiry and transfer of Beijing Roborock Technology; the total number of shares to be transferred by the transferor is 1,315,793 shares, accounting for 1.00% of the total share capital of the company; On the same evening, Montage Technology announced that the shareholders participating in the pre-IPO inquiry and transfer of Montage Technology were China Electronics Investment Holdings Co., Ltd., Jiaxing Xindian Investment Partnership Enterprise (limited partnership), and Intel Capital Corporation. The proportion of shares to be transferred by the transferor accounts for 2.2% of the total share capital of Montage Technology.
On June 15th, Beijing Roborock Technology and Montage Technology announced the results of the inquiry and transfer. A Caixin reporter noted that TaiBao Asset Management appeared in both equity transfers.
Among them, TaiBao Asset Management participated in the transfer of 13,000 shares of Beijing Roborock Technology, accounting for 0.01% of the total share capital, and is expected to invest 4.8994 million yuan based on the confirmed transfer price of 376.88 yuan/share.
△ Beijing Roborock Technology announcement.
At the same time, TaiBao Asset Management participated in the transfer of 3,000,000 shares of Montage Technology, accounting for 0.263% of the total share capital, and is expected to invest 139.05 million yuan based on the confirmed transfer price of 46.35 yuan/share.
△ Montage Technology announcement.
According to the data of Hithink RoyalFlush Information Network, as of the close of today, the closing prices of Oled Material Tech, Beijing Roborock Technology and Montage Technology were 26.36 yuan/share, 413 yuan/share and 54.38 yuan/share, respectively. According to a rough estimate by a Caixin reporter, TaiBao Asset Management has a book profit of nearly 26 million yuan on the above three companies. The lock-up period of the above three equity transfers is six months.