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author: su jie, chen shihui reprinted from: china daily

in may this year, due to the illegal insider trading of "tongrun equipment" by wu xuhang, the jiangsu securities regulatory bureau decided to confiscate wu xuhang's illegal gains of 35,271,471.74 yuan and impose a fine of 70,542,943.48 yuan.

it also brought tongrun equipment's major asset restructuring back into the public eye. it completed its asset restructuring in the first half of 2023, and its main business expanded from traditional metal products to photovoltaic inverters and energy storage. this year, tongrun equipment launched refinancing to expand production capacity and further bet on the photovoltaic storage business.

receive regulatory letter for information disclosure violations

the transaction price for 100% equity of wenzhou angtai power system co., ltd. (hereinafter referred to as angtai power) acquired by tongrun equipment in its previous asset reorganization was rmb 840.3047 million. the fair value of identifiable net assets on the purchase date was rmb 619.4195 million. tongrun equipment recognized goodwill of rmb 220.8852 million.

since angtech power was incorporated into the consolidated financial statements on june 1, 2023, tongrun equipment's debt ratio has also begun to rise sharply. due to the acquisition of angtech power's equity and fluctuations in exchange gains and losses, tongrun equipment's net profit in 2023 fell by 42.99% year-on-year.

after the reorganization, tongrun equipment also received a regulatory letter for information disclosure violations.

according to the company supervision letter [2023] no. 164 signed by the shenzhen stock exchange in november 2023, in may 2023, the control of tongrun equipment changed, chint electric became its controlling shareholder, and nan cunhui became the actual controller. since then, chint group finance co., ltd. (hereinafter referred to as the finance company), controlled by the actual controller nan cunhui, has provided financial services to tongrun equipment and its subsidiaries. among them, the maximum deposit balance is 110 million yuan, and the maximum balance of the comprehensive credit line provided by the finance company is 20 million yuan.