China** newspaper reporter Lu Yuan.
Following the donation of 10 million shares of the company held by the Ningbo Yu Renrong Education Association on February 27, Weier announced on the evening of December 5 that in order to fund the education of Ningbo Oriental University of Technology to carry out charity and public welfare activities, Shaoxing Weihao plans to donate 10 million shares of the company to the ** society.
Based on the ** price of 105 yuan on December 5, the current market value of the above 20 million shares of Weir shares is about 2 billion yuan.
Previously, Jiemian News disclosed that Ningbo Yu Renrong Education will invest 10 billion yuan for the infrastructure construction of Eastern University of Technology, and invest more than 20 billion yuan in running a school as the basic operating expenses of the university.
Obviously, the current market value of about 2 billion yuan of donations is still far from the above-mentioned funds of more than 30 billion yuan. This means that if Yu Renrong Education** will use equity to convert the investment in the above-mentioned Eastern University of Technology, the above-mentioned equity donation measures may continue in the future.
Donate another 10,000,000 shares
Weir shares announced on the evening of December 5 that the company received a notice from the controlling shareholder Shaoxing Weihao on the same day, in order to support the development of education and fund the education of Ningbo Oriental University of Technology to carry out charitable and public welfare activities, Shaoxing Weihao plans to donate 10 million shares of the company it holds to the education association of Ningbo Oriental University of Technology free of charge.
According to the announcement, the Education Association of Ningbo Eastern University of Technology was established on June 26, 2023, and its business scope includes: funding the development of education of Ningbo Eastern University of TechnologyFunding the cultivation of outstanding talents and funding educational and scientific research activities;Funding other educational and research projects that are in line with the purpose of the Association.
Prior to this, on February 27, Weir shares received a notice from the controlling shareholder Shaoxing Weihao that in order to support the development of education and fund Ningbo Yu Renrong Education Association to carry out charity and public welfare activities, Shaoxing Weihao plans to donate 10 million shares of the company it holds to Ningbo Yu Renrong Education Association free of charge.
However, at that time, the grantee was the Ningbo Yu Renrong Education Association, which was established on October 23, 2020, and its business scope included: funding the construction and development of private universitiesFunding the cultivation of outstanding talents and funding educational and scientific research activities;Funding other educational and research projects that are in line with the purpose of the Association.
On March 7, Shaoxing Weihao received the "Confirmation of Transfer Registration" issued by China Securities Deng Shanghai Branch, and some of the company's shares that Shaoxing Weihao plans to donate to the ** club have all been transferred.
There may be equity donation initiatives in the future
According to a report by Jiemian News in early January 2023, Ningbo Oriental University of Technology (tentative name) is organized by Yu Renrong Education Association and supported by Zhejiang Province and Ningbo City, with a total investment of 46 billion yuan.
The university is positioned as a "high-level, innovative and international" new research university, focusing on innovation in science and engineering, especially in the fields of electronic information, advanced manufacturing and new energy, which is closely linked to the core technologies of the development needs of the Yangtze River Delta.
According to the plan, Ningbo City invested 16 billion yuan to select the school site, and the total planned land scale is about 2,300 acres (about 1.5 million square meters). Ningbo Yu Renrong Education Association will invest 10 billion yuan for the construction of university infrastructure, and invest more than 20 billion yuan in running a school to ensure the university's talent training, scientific research, international exchanges, etc., as well as the university's basic operating expenses.
Based on the ** price of 105 yuan on December 5, the current market value of the above 20 million shares of Weir shares is about 2 billion yuan, which is far from the minimum 10 billion yuan disclosed in the above-mentioned ** report.
This means that if the above-mentioned investment funds of Eastern University of Technology are converted by equity, the above-mentioned equity donation measures may be continued in the future.
Judging from the public information disclosed by the official Yu Renrong Education Association, in 2021, the Association will donate 45.26 million yuan to the Institute for Advanced Study of Oriental Institute of Technology for the daily operation of the cooperative school project between Ningbo City and Ningbo Yu Renrong Education AssociationIn 2022, there will be another 18.4 billion yuan was donated to the Institute for Advanced Study of Oriental University of Technology for the project of Eastern University of Technology.
Judging from the above situation, in the two years from 2021 to 2022, the construction funds of Eastern University of Technology invested by Yu Renrong Education Association are not much, about 2300 million yuan.
Relative to 2021 25509 yuan of the highest stock price in history, the current Weir share price has fallen to 10519 yuan, with a market value of 127.9 billion yuan.
Editor: Captain Review: Xu Wen.