8, Mubang Gaoke issued a fixed increase announcement, intending to raise no more than 1.706 billion yuan from specific targets for the acquisition of 100% equity project of Hao'an Energy, 10000 tons/year intelligent silicon purification and recycling project and supplementary liquidity.
The picture shows the announcement of Mubang Gaoke
on December 8, 2023, which shows that the acquisition of 100% of Hao'an's equity constitutes a major asset restructuring. After the completion of the transaction, Hao'an Energy became a wholly-owned subsidiary of the listed company, retained its legal entity, and continued to operate its original business by its original management team. According to the
data, the fixed increase announcement began in February 2022. The fixed increase plan has been revised and adjusted several times, and the fund raised has also been reduced from 2.415 billion yuan to 1.706 billion yuan, shrinking by nearly 30%.
The picture shows the announcement
of Mubang Hi-Tech on February 16, 2022. Among the projects raised, only 10,000 tons/year of intelligent silicon purification and recycling projects have remained unchanged. The acquisition of 100% equity of Hao'an Energy and supplementary liquidity have been reduced by 515 million yuan and 194 million yuan respectively.
Digital New Energy DataBM. Com found that in the announcement, Mubang Gaoke said that 100% of Hao'an Energy had been transferred to the issuer's name on May 11, 2022. It has been more than a year since the transfer was completed. Why is Mubang Gaoke still increasing this project?
According to the announcement of Mubang Gaoke's reply to the inquiry letter on September 13, Mubang Gaoke said that by the end of June 2023, its monetary fund balance was only 112 million yuan, which was far below the capital demand for the acquisition of Hao'an Energy, so the company needed to raise funds to pay the purchase price by issuing shares to specific targets.
That is to say, Hao'an Energy has completed the transfer, but has not completed the payment. Although Mubang Gaoke eventually acquired Haoan Energy for 980 million yuan, there was a lot of discussion about the acquisition in the market. The reason is that the premium rate of the acquisition is too high.
According to the previous announcement of Mubang Gaoke, as of December 31, 2021, the net assets of Hao'an Energy were 123 million yuan, so the final acquisition premium rate of Mubang Gaoke was 694% .
But for the acquisition of Hao'an Energy, Mubang Gaoke believes that it can help it quickly enter the photovoltaic industry and improve its performance. And from the performance point of view, it is true. According to the semi-annual report of
2023, Mubang Hi-Tech realized operating income of 640 million yuan, an increase of 65.92% over the previous year; realized net profit of 11.4823 million yuan, an increase of 31.80% over the previous year; realized net profit of 5.3548 million yuan, a decrease of 46.58% over the previous year.
The picture is the semi-annual report
of 2023, in which Hao'an Energy contributed 627 million yuan in photovoltaic business revenue and 90.143 million yuan in net profit, far exceeding the company's original business.
Although Mubang Gaoke did not rely on photovoltaic to turn over completely, it also achieved partial blood return by relying on photovoltaic business.
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