Shanxi Fenjiu (600809) disclosed on the evening of May 20th that shareholder Huachuang Xinrui (Hong Kong) Co., Ltd. (hereinafter referred to as "Huachuang Xinrui") plans to reduce its holdings of no more than 8 million shares in the company through block trading.
The reduction period shall be implemented within 3 months (including the date of expiration of the 3-month period) within 15 trading days from the date of public disclosure of the reduction plan. A reporter from Securities Times e Company noticed that Huachuang Xinrui is a member of Huarun Department. According to the current share price of Shanxi Fenjiu, the cash amount of Huachuang Xinrui in this round of reduction may exceed 2.1 billion yuan.
Up to now, Huachuang Xinrui holds 1 of Shanxi Fenjiu shares.Candycrushswitch.3.6 billion shares, accounting for 11.16% of the total share capital of the company. Among them: China Resources Venture holds 80.62% of Huachuang Xinrui shares, China Resources Entrepreneurship Federation and Fund I (limited partnership) (hereinafter referred to as "Lianhe Fund") holds 19.38% shares of Huachuang Xinrui.
According to the Shanxi Fenjiu announcement, according to the relevant cooperation agreement of Lianhe Fund, it faces the arrangement of fund expiration and withdrawal and needs to reduce its indirect holdings of Shanxi Fenjiu shares, so Huachuang Xinrui plans to reduce its holdings of no more than 8 million shares through bulk trading. That is, not more than 0.6558% of the total share capital of the company.
As of May 20, Shanxi Fenjiu shares closed at 264.57 yuan per share. It is estimated that the market value of 8 million shares is about 2.117 billion yuan.
According to the initial investment cost of Huachuang Xinrui, it will undoubtedly make a lot of money.CandycrushswitchYes!
In 2018, Fenjiu Group transferred its 99.1545 million shares of Shanxi Fenjiu (accounting for 11.45% of Shanxi Fenjiu's total share capital) to Huachuang Xinrui. The transfer price of shares is 52.04 yuan per share, with a total transfer price of 5.16 billion yuan. Huachuang Xinrui undertakes that Shanxi Fenjiu shares acquired through the above transaction will not be transferred or managed in any direct or indirect manner for 60 months from the date on which the shares are transferred to the company (June 29, 2018), including, but not limited to, public transfer through the securities market or transfer by agreement, nor will it create a pledge, mortgage or any other burden of rights on the shares.
Public information shows that Huachuang Xinrui is a subsidiary of China Resources Entrepreneurship in cooperation with Fenjiu. China Resources Entrepreneurship is mainly engaged in beer, food and beverage business of China Resources Group.
For a large stake in Shanxi Fenjiu, Huachuang Xinrui said that it fully recognizes the past operating performance and future development plans of listed companies, and takes a fancy to the long-term growth of listed companies. Through this investment, it hopes to bring collaborative value to listed companies in terms of marketing and company operation. Fenjiu Group said that the transaction is to introduce strategic investors who have international vision and experience in M & An integration and can optimize the governance structure of listed companies for Shanxi Fenjiu, so as to promote the governance structure, decision-making system and incentive mechanism of Shanxi Fenjiu to be more scientific. Shanxi Fenjiu will become a leading listed company with international influence in the liquor industry.
In retrospect, China Resources has indeed brought a lot of changes to Shanxi Fenjiu after taking a stake. On the one hand, directors and executives from the China Resources department have been stationed in Shanxi Fenjiu one after another, on the other hand, with the help of the huge channel network of the China Resources department, the sales revenue of Shanxi Fenjiu has increased rapidly.
In 2019, the revenue of Shanxi Fenjiu was 11.89 billion yuan, breaking through the 10 billion yuan mark for the first time. "(the company) actively promotes strategic coordination with China Resources, and the two sides have made important progress in talent exchange, resource sharing and coordinated development, which has fundamentally stimulated the endogenous driving force." Shanxi Fenjiu said in its 2019 annual report.
In 2021, the revenue of Shanxi Fenjiu was 19.97 billion yuan. In 2022 and 2023, the company's revenue has exceeded 25 billion yuan and 30 billion yuan one after another. In 2023, the net profit of Shanxi Fenjiu exceeded 10 billion yuan to 10.438 billion yuan.
Huarun also made a lot of money from Shanxi Fenjiu. In addition to getting a high cash dividend, China Resources currently holds shares with a total market capitalization of nearly 36 billion yuan.
Under the high income, whether the China Resources Department will fall into the bag for security has also attracted the attention of investors. As a result, Huachuang Xinrui's sudden announcement of a reduction in Shanxi Fenjiu has also caused concern among some investors.
However, Shanxi Fenjiu said in the announcement that the reduction plan launched by Huachuang Xinrui this time will not change China Resources Entrepreneurship's firm confidence in the company's future development prospects and its high recognition of the company's long-term value. China Resources Entrepreneurship will continue to hold shares in the company through Huachuang Xinrui, and has no plans to reduce its shares, and will, as always, uphold an international vision and experience in M & An integration. Make every effort to promote the high-quality and steady development of the company.
According to media reports, on May 8, Fenjiu Group signed a deepening strategic cooperation agreement and a scientific and technological innovation strategic cooperation framework agreement with China Resources Entrepreneurship and China Resources Science and Technology Research Institute respectively. It is said that the two sides of the agreement will carry out in-depth cooperation in management improvement, marketing, product research and development, mathematical intelligence empowerment and so on.