news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

(Original title: The total amount of funds raised has shrunk by nearly 40%, and Jianlang Hardware's fixed increase plan has been further reduced)

On the evening of July 16,Jianlong Hardware(SZ002791, share price 23.49 yuan, market value 7.553 billion yuan) announced that the company plans to adjust the issuance of shares to specific objects in 2023A sharesstockThe company has recently issued a plan for the issuance of additional shares in 2023 (hereinafter referred to as the 2023 fixed increase plan), which will reduce the total amount of funds raised and the amount of funds to be used for investment projects with the raised funds by the same proportion. After the adjustment, the company's 2023 fixed increase plan will reduce the total amount of funds to be issued from no more than 1.985 billion yuan to 1.2 billion yuan.

The Daily Economic News reporter calculated that this reduction means that the total amount of funds raised by Jianlang Hardware will be "reduced" by nearly 40%. In April last year, when Jianlang Hardware first disclosed its 2023 fixed increase plan, the company had planned to issue a total amount of funds not exceeding 1.99 billion yuan. Later in July, the company lowered the total amount of funds raised to 1.985 billion yuan.

According to the issuance plan, the issuance targets of this private placement are no more than 35 specific targets who meet the conditions stipulated by the China Securities Regulatory Commission, including the company's controlling shareholder Bai Baokun. Among them, Bai Baokun intends to subscribe for an amount of no less than 100 million yuan (including principal) and no more than 150 million yuan (including principal), and the number of shares subscribed shall not exceed 2% of the company's issued shares.

In fact, since the implementation of the new refinancing regulations in the second half of last year, coupled with the current sluggish market of the A-share market, the fixed increase market in 2024 has cooled down.Public CompanyAnnouncements were issued one after another to terminate the plan of issuing shares to specific objects.

The total amount of funds raised is expected to be reduced to 1.2 billion yuan

The announcement shows that after this adjustment, the total amount of funds to be raised by Jianlang Hardware's 2023 fixed increase will not exceed 1.2 billion yuan (including the principal amount), and the net amount of funds raised after deducting the issuance expenses will be used for: Jianlang Hardware Zhongshan Digital Intelligent Industrial Park Project, Prefabricated Metal Composite Decorative Materials Construction Project, Information System Upgrade Construction Project, Headquarters Automation Upgrade and Reconstruction Project, and replenishment of working capital. The amount of funds to be invested in the above projects will be reduced to 551 million yuan, 83.43 million yuan, 107 million yuan, 102 million yuan and 356 million yuan, respectively, totaling 1.2 billion yuan.

However, the total investment amount of these five projects has not changed, and remains 1.034 billion yuan, 152 million yuan, 248 million yuan, 181 million yuan and 589 million yuan respectively, totaling 2.203 billion yuan.

Jianlang Hardware said that the reduction in the scale of raised funds does not constitute a major change in the 2023 fixed increase issuance plan, and the adjustment does not need to be submitted to the shareholders' meeting for deliberation. Before the funds raised from the issuance of shares to specific objects are in place, the company will first invest self-raised funds based on the actual progress of the project, and replace it after the raised funds are in place. If the net amount of funds raised this time is less than the total amount of funds to be raised for the above-mentioned projects, the company will solve it by self-raised funds.

The reporter of "Daily Economic News" noticed that this is the second time that Jianlang Hardware has adjusted the amount of funds raised in the 2023 fixed increase plan. In July last year, the company also adjusted the "amount and purpose of funds raised" in the 2023 fixed increase plan in light of business development needs. At that time, the company mainly reduced the total investment amount of the "supplementary working capital" project.

Regarding the more specific reasons for the reduction in the total amount of funds raised, the reporter also contacted Jianlang Hardware on the afternoon of July 17. The relevant person gave a reply consistent with the company's announcement: According to the provisions of relevant laws, administrative regulations, departmental regulations and normative documents and relevant regulatory requirements, combined with the current market environment and the company's actual situation, the company adjusted the total amount of funds raised through the private placement.

The person also said that the company's production and operation are currently normal. The company is advancing the work related to the private placement in an orderly manner. Please pay attention to the relevant announcements disclosed later for relevant progress.

The fixed increase market has cooled down since the beginning of this year

The reporter of Daily Economic News noted that in early September last year, the China Securities Regulatory Commission approved the registration application of Jianlang Hardware to issue stocks to specific objects, and the approval is valid for 12 months. As of now, the fixed increase is still in progress. The issue price of the stocks issued to specific objects this time shall not be lower than 80% of the average trading price of the company's stocks in the 20 trading days before the pricing benchmark date, and the pricing benchmark date of the issue is the first day of the issuance period.

In terms of stock price, the stock price of Jianlang Hardware has shown a trend of continuous fluctuation and decline in recent years. According to the Eastmoney terminal, in 2022, the stock price of Jianlang Hardware fell by 42.69%; in 2023, it fell by 61.07%; from 2024 to date, the company's stock price has also fallen by 41.84%. This is related to the fact that the construction industry has entered a period of adjustment.

According to the previous performance forecast of Jianlang Hardware, in the first half of this year, the company expects to achieve a net profit of 5 million to 7.5 million yuan, a year-on-year decrease of 41.76% to 61.17%; the net profit after deducting non-recurring items is expected to be -19 million to -18.5 million yuan, a year-on-year decrease of 557.4% to 569.76%. The main reason for the expected year-on-year decrease in net profit is the decrease in operating income and the increase in credit impairment losses, but the company's thin semi-annual profit is in line with the company's operating characteristics.

A person related to Jianlang Hardware told the reporter of "Daily Economic News": "Although the current industry is still in a stage of deep adjustment, we believe that China, as the world's largest construction market, has temporarily slowed down its growth rate. The existing market still has a lot of room for development, as well as growth opportunities brought by some newer markets. Diversified and fragmented construction demand has brought survival and development opportunities to companies in the industrial chain." At the same time, the company's business model of integrated supply of building accessories has played an important role in helping the company find new business support during the industry adjustment period.

The reporter also noticed that the reason behind Jianlang Hardware's reduction in the total amount of funds raised through private placement may also be related to the cooling of the A-share refinancing market.

Since the second half of last year, many companies have actively or passively withdrawn their application documents for additional issuance due to comprehensive consideration of the current market environment, company planning, etc. Recently, Daye Pharmaceutical (SH603278, share price 5.25 yuan, market value 1.794 billion yuan), Baihua Pharmaceutical (SH600721, share price 5.9 yuan, market value 2.254 billion yuan), Wanma Pharmaceutical (SZ002276, share price 6.87 yuan, market value 7.114 billion yuan), Zhongrui Pharmaceutical (SZ002374, share price 1.67 yuan, market value 1.817 billion yuan) and many other listed companies have issued announcements to terminate the issuance of shares to specific objects. Companies such as Decai Holdings (SH605287, share price 10.9 yuan, market value 1.526 billion yuan), Jingfeng Mingyuan Holdings (SH688368, share price 55.81 yuan, market value 4.902 billion yuan), and Hesheng Holdings (SZ002824, share price 12.35 yuan, market value 3.447 billion yuan) have successively decided to terminate the issuance of convertible bonds to unspecified objects.

Wind data shows that based on the listing date of the private placement shares, as of July 12, a total of 83 companies have implemented private placements this year, with a total of 12.25 billion shares issued and a total amount of 100.037 billion yuan. Compared with the same period last year, the number of companies implementing private placements decreased by 51.55% and the amount of additional issuances fell by 72.47%.