Shahe Co., Ltd.: The transaction to acquire a 70% stake in Jinghua Electronics is progressing smoothly.

Radar Finance Text | Yang Yang Edited | Li Yihui

On February 27, Shahe Co., Ltd. (Stock Code: 000014) announced that the company plans to purchase a 70% stake in Shenzhen Jinghua Display Electronics Co., Ltd. held by Shenye Pengji (Group) Co., Ltd. through a cash payment. After the transaction is completed, Jinghua Electronics will become a controlling subsidiary of the company and will be included in the company’s consolidated financial statements. This transaction constitutes a major asset restructuring and related-party transaction, does not involve the issuance of shares by the listed company, does not constitute a reorganization or listing, and will not result in a change of the company’s controlling shareholder or actual controller.

The company has received an inquiry letter from the Shenzhen Stock Exchange and is organizing relevant departments and intermediary agencies to analyze and verify each question raised in the inquiry letter. The company will complete the response as soon as possible. As of the date of this announcement, related work is progressing in an orderly manner. The transaction still requires necessary decision-making and approval procedures, and the company will continue to disclose progress.

According to Tianyancha data, Shahe Co., Ltd. was established on July 27, 1987, with a registered capital of 242.0462 million RMB. The legal representative is Yang Ling, and the registered address is No. 2222, Baishi Road, Nanshan District, Shenzhen, at Shahe Century Building. Its main business includes real estate development and operation, and the management and operation of modern service industry properties.

Currently, the company’s chairman is Yang Ling, the secretary is Wang Fan, with 78 employees. The actual controller is the State-owned Assets Supervision and Administration Commission of Shenzhen Municipal People’s Government.

The company has stakes in five affiliated companies, including Henan Shenye Real Estate Co., Ltd., Changsha Shenye Real Estate Co., Ltd., Shenzhen Shenye Land Property Investment Co., Ltd., Changsha Shenye Fuxiang Real Estate Co., Ltd., and Xinxiang Shenye Real Estate Co., Ltd.

In terms of performance, the company’s operating income for 2022, 2023, and 2024 was 764 million yuan, 1.389 billion yuan, and 358 million yuan, respectively, with year-on-year growth of 18.99%, 81.93%, and -74.24%. Net profit attributable to shareholders was 249 million yuan, 522 million yuan, and 16.4462 million yuan, with year-on-year growth of 602.02%, 109.82%, and -96.85%. During the same period, the company’s asset-liability ratio was 59.23%, 31.91%, and 23.54%.

Regarding risks, Tianyancha data shows the company has 39 internal Tianyan risks, 99 surrounding risks, 56 historical risks, and 169 warning alert risks.