Financial reporter Xu Yaowen.
About Weilong shares (603779SH) whether the reconstituted bullets flew out of a new movement.
A few days ago, Weilong Co., Ltd. issued an announcement saying that Jiuhe Finance, the largest shareholder of Shandong Xiyang, the controlling shareholder, withdrew due to strategic adjustment. It is reported that Jiuhe Finance is subordinate to the State-owned Assets Supervision and Administration Bureau of Linzi District.
Compared with the withdrawal of Linzi state-owned assets, the "restructuring of Weilong shares" has caused a greater splash. Some investors believe that the divestment of Linzi state-owned assets is conducive to the stability of the position of the actual controller, and also brings more space and possibilities for the injection of new assets.
The actual controller of Weilong shares is Yan Pengfei, who has a background of serving as directors, supervisors and senior executives in a number of artificial intelligence companies. Because of this, when the new shareholder and Yan Pengfei officially became the owner of Weilong shares in June 2023, there was a lot of discussion about whether assets such as artificial intelligence and big data would be injected into Weilong shares - that is, to boost the asset restructuring of Weilong shares.
At that time, the new shareholders had said that they would not change the main business of Weilong shares, and the new nominee shareholders would bring new management thinking to the company and help development. Now, in the face of the performance of Weilong shares with a pre-loss of more than 100 million yuan and the sluggish stock price, how will the actual controller with the increase in "real power" "take the helm" and lead the company to turn the tide?
The increase in the proportion of the actual controller's shareholding once again caused heated discussions on restructuring Less than a year after becoming the owner, the largest shareholder of Weilong shares has undergone major changes.
On February 21, Weilong Co., Ltd. announced that the name of the controlling shareholder was changed from Shandong Jiuhe Cloud Investment Technology Development *** referred to as "Jiuhe Cloud Investment") to "Shandong Xiyang Digital Technology *** referred to as "Shandong Xiyang").
The change of name is related to the change of the controlling shareholder's own shareholding structure: the largest shareholder of Shandong Xiyang, Shandong Zibo City, Linzi District, Jiuhe Finance Holdings, hereinafter referred to as "Jiuhe Finance") withdrew due to strategic adjustment.
Changes in the equity of the controlling shareholder of Weilong shares.
It is worth noting that Jiuhe Finance is subordinate to the State-owned Assets Supervision and Administration Bureau of Linzi District. The withdrawal of Jiuhe Finance not only led to the reduction of the registered capital of Shandong Xiyang from 340 million yuan to 156 million yuan, but also marked the disappearance of the state-owned elements in the equity structure of Weilong shares.
Although the withdrawal of Linzi state-owned assets has weakened the capital strength of the largest shareholder of Weilong to a certain extent, the holding ratio of the company's actual controller has increased. Flush ifind data shows that the actual controller of Weilong shares is Yan Pengfei, and its holding ratio is 534% to 927%。
Together, there is also a discussion of shareholders on the restructuring of Weilong's shares.
Shandong Xiyang is an enterprise engaged in the development of artificial intelligence application software, and the actual controller Yan Pengfei is the chairman of Shandong Xiyang. In addition, there are also director, supervisor and senior backgrounds in a number of artificial intelligence companies, including Shandong Aite Yunxiang Information Technology Co., Ltd. (hereinafter referred to as "Aite Yunxiang"), which is a scientific and technological innovation enterprise with big data services as its main business.
Not only that, after Shandong Xiyang became the first shareholder, Zhu Qiuhong, Zhang Peng, Zhang Zhijing and many other directors, supervisors and senior executives from Aite Yunxiang have also become directors, supervisors and senior executives of Weilong shares. Among them, Zhu Qiuhong, the new chairman of Weilong Co., Ltd., is the general manager of Aite Yunxiang.
Because of this background, when Yan Pengfei became the owner of Weilong shares in June 2023, there were many discussions about whether assets such as artificial intelligence and big data would be injected into Weilong shares. However, at that time, Shandong Xiyang said that it would not change the main business of Weilong shares. In addition, subject to the constraints of state-owned assets supervision and regulations on major restructuring matters, there is no restructuring plan for the listed company to purchase or replace assets with major assets within 12 months after the completion of this equity change.
Now, with the divestment of Linzi state-owned assets and the increase of the controlling stake of the actual controller, some investors believe that it has brought more space and possibilities for the injection of new assets.
How will Weilong shares, which do not rely on artificial intelligence and big data to pre-lose, "save themselves" Previously, in the 2022 annual performance briefing of Weilong shares, Zhu Qiuhong said that the daily operation and management of Weilong shares is still the original management team, and the executives nominated by the new shareholders will help bring new management thinking to Weilong and help development. However, in terms of actual business performance, the help of the new executives is not obvious.
In 2022, the company's main business income will increase year-on-year, and its operating income will increase by 5% year-on-year24%；Through a series of cost-reduction and efficiency-enhancing measures such as adjusting product structure, reducing costs and reducing expenses, the company's management team has effectively reduced operating costs and expenses, and the gross profit margin of products has increased by about 4%, thereby turning losses into profits and achieving a net profit attributable to the parent company of 1178 for the whole year950,000 yuan.
However, entering 2023, the company's operating performance has declined. Previously, Weilong Co., Ltd. issued an announcement on the pre-loss of 2023 annual results, and the net profit attributable to the parent company is expected to lose 136.43 million yuan to 197.07 million yuan. Specifically, the net profit impact brought by operating profit and loss accounted for the majority, about 110.19 million yuan, exposing the company's shortcomings in operation and management.
Dig deeper, the problem of Weilong shares is not solved by injecting the blood of new executives. Looking back at the operating data in recent years, Weilong shares have a long history of problems in operation and management.
Taking payment collection as an example, Flush ifind data shows that in 2020, Weilong's notes receivable and revenue accounts fell sharply by 5364%, but the amount recovered in the next two years. In 2022, this amount is 13.6 billion yuan, exceeding the level of 2019. In addition, in the financial reports of Weilong shares for many years, it is mentioned that the impairment of raw liquor, self-made distilled alcohol, productive assets and fixed assets is expected to exceed 100 million yuan, which are important reasons for the decline in operating performance.
The relevant person in charge of Weilong Co., Ltd. has repeatedly said that the company has nothing to do with Aite Yunxiang, and will continue to focus on wine production, and will not consider changing the main business for the time being. In the next step, how will Weilong shares, which do not rely on artificial intelligence and big data, save themselves? How will the actual controller with the increase in "real power" "take the helm" and lead the enterprise to turn the tide? It will take time and the market to test.
The stock price has risen and fallen because of the restructuring news, and the three big rises in half a year have almost nothing to do with red wine The reason why investors are so concerned about the news of the company's restructuring is closely related to the performance of the secondary market of Weilong shares. The most direct performance is the 6 up limits and 3 down limits in June 2023.
From the end of May 2023, Weilong shares successively issued a number of equity change announcements, to June 19, 2023, Weilong shares ushered in a new controlling shareholder and actual controller, the company's stock price by equity transfer and other multiple benefits**, and even in 7 trading days out of 6 daily limits, once from 660 yuan shares rose to nearly 12 yuan shares.
After that, with the discussion of the asset restructuring of Weilong shares, the company's stock price was hot, and finally rose to 14 on June 19$46 shares. However, on June 19, 2023, after the controlling shareholder of Weilong shares said that the company had no main business and asset restructuring in the short term, Weilong shares immediately received a fall limit on the second trading day.
Weilong shares June 2023 ** chart.
At that time, the latest financial report disclosed by Weilong shares showed that the company lost 1773 in the first quarter of 2023580,000 yuan, but the stock price of this wave of companies is not related to performance, and for a time Weilong shares are called "demon stocks". Coincidentally, in the past six months since then, Weilong shares have risen twice again, which also has nothing to do with performance.
At the beginning of November and the end of December 2023, as the Year of the Dragon approaches, A-shares once again speculated on the so-called "zodiac stocks", and Weilong shares with the word dragon in their names became one of the targets, with a cumulative increase of 51% and 44% respectively in the two hot speculations. However, the latest financial report of Weilong shares at that time showed that the company continued to lose money in the first half and first three quarters of 2023.
The rise and fall of stock prices is a matter of interest to investors. In the face of stock prices that are contrary to the trend of business performance, there is also a lot of risk behind the speculation. Whether it is operating performance or asset restructuring, it is a direct factor that has a direct impact on the stock price. How will the follow-on company improve its operating performance? Will there be a restructuring plan? Fengkou Finance has called Weilong shares many times, but has not been contacted as of press time.