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(Original title: Enjie shares' actual controller violated regulations to reduce holdings and was warned by regulators; the company's net profit in the first half of the year is expected to drop by more than 70%)

The share purchase plan has not been fully implemented, and the actual controller of Enjie Co., Ltd. (002812.SZ) and its joint actors have also been warned by regulators for illegally reducing their shareholdings in excess of the proportion.

Enjie Co., Ltd. announced on the evening of July 23 that the actual controller of the company had inaccurate identification of persons acting in concert and disclosure of relevant equity information, and had failed to disclose the simplified equity change report in a timely manner and stop buying and selling the company's stocks, and illegally reduced its holdings of shares in excess of the proportion, and received the administrative supervision measures decision letter from the Yunnan Regulatory Bureau of the China Securities Regulatory Commission. After receiving the administrative supervision measures decision letter, the actual controller of the company and its persons acting in concert attached great importance to the relevant matters involved. The actual controller and its persons acting in concert promised to repurchase the shares of Enjie Co., Ltd. that were reduced in excess of the proportion and illegally reduced within the next 12 months with their own and self-raised funds within the scope permitted by the rules. On July 23, the actual controller of the company and its persons acting in concert repurchased 346,500 shares through centralized bidding transactions.

It is worth mentioning that in the past two years, Enjie's stock price has been falling almost all the way. From the beginning of 2022 to now, in two and a half years, the company's stock price has fallen from 248 yuan/share to 28.67 yuan/share (closing price on July 23), a drop of 89%.

at the same time,Public CompanyThe actual controller and its joint actors frequently issue announcements on changes in shareholder share pledges, and several pledges have reached the liquidation line or warning line.

Choice financial terminal data showed that Enjie Co., Ltd.'s cumulative pledge ratio was 21.7%, with the largest cumulative decline since the pledge was -77.64%. The number of transactions reaching the warning line was 53, and the number of transactions reaching the liquidation line was 36.

According to the shareholder share pledge change announcement disclosed by Enjie Co., Ltd. on July 10, Paul Xiaoming Lee, the chairman of the listed company, the controlling shareholder and one of the family members of the actual controller, and Heyi Investment completed the supplementary pledge procedures for some of the company's shares they held.

As of now, Li Xiaohua, Heyi Investment and their joint actors hold 401 million shares of Enjie Co., Ltd., of which 50.96% of the shares are pledged, accounting for 20.88% of the company's total share capital.

In addition, Paul Xiaoming Lee and Li Xiaohua disclosed the planned increase in holdings in the company's designated information disclosure media on October 30, 2023 and April 11, 2024, and planned to increase the company's shares through centralized bidding from October 28, 2023 to July 26, 2024. The total increase in holdings is capped at 100 million yuan and the lower limit is 50 million yuan. However, as of July 23, the above increase plan has not yet been implemented.

According to the semi-annual performance forecast previously released by Enjie Co., Ltd., the company is expected to achieve a net profit attributable to shareholders of RMB 258 million to RMB 358 million in the current period, a year-on-year decrease of 74.5% to 81.62%; the non-net profit is expected to be RMB 219 million to RMB 319 million, a year-on-year decrease of 76.26% to 83.70%.

Enjie Co., Ltd. stated that in the first half of 2024, the overall supply and demand pattern of the lithium battery separator industry was slightly loose, and the downstream cost reduction pressure and intensified market competition led to a decline in the price of lithium battery separator products. However, the company actively responded to market competition, increased market expansion efforts, and increased shipments of separator products. The company's capacity utilization and market share have steadily increased. In the future, the company will increase its R&D efforts, continuously develop new products, accelerate overseas market development, improve product structure, and strengthen competitiveness.

This performance level is far from the previous performance forecast by the agency.

Guotai Junan Securities previously reported that Enjie Co., Ltd.'s financial reports for 2023 and the first quarter of 2024 were in line with expectations, and it is expected that the net profit attributable to the parent company in 2024 and 2025 will be 3.1 billion yuan and 3.5 billion yuan respectively.

Soochow Securities' research report lowered the company's net profit attributable to shareholders forecast for 2024-2026 to 9.0/1.34/2.31 billion yuan (the original forecast for 2024-2026 was 1.51/2.19/3.20 billion yuan), a year-on-year decrease of -64%/+48%/+72%.

Huaan Securities Research Report predicts that Enjie Co., Ltd.'s net profit attributable to shareholders of the parent company will be approximately 1.5 billion yuan and 2.6 billion yuan in 2024 and 2025, respectively.