On December 13, Shanghai Guao Electronic Technology Co., Ltd. (300551) disclosed a series of announcements regarding a change in actual controller and a private placement fundraising.
First, the company announced a change in actual controller, with trading resuming. According to the announcement, on December 12, the company's actual controller, Chen Chongjun, signed a "Voting Rights Entrustment Agreement" with Xu Yinghui, entrusting the voting rights of 67,693,500 shares held by Chen to Xu. After the agreement takes effect, Xu will hold 19.91% of the voting rights in the listed company. As of the signing date, Xu directly holds 4.50% of the company's shares, bringing his total voting rights to 24.41%. Consequently, the actual controller of the company has changed to Xu Yinghui. Trading of the company's shares will resume on December 15 (Monday).
Notably, Xu Yinghui's core enterprises include Beijing Guanghui Shilian Technology Co., Ltd. and Fuchen Investment Management (Beijing) Co., Ltd. He also holds a 40% stake in Suzhou Ruixin Intelligent Technology Co., Ltd. Public records show that Xu also invested in the STAR Market company Maxscend last year.
Shanghai Guao Electronic Technology's main businesses include financial equipment and financial derivatives, serving clients such as banks, securities firms, futures companies, and public and private funds. The company's primary revenue comes from investment consulting services, financial equipment sales, financial derivatives software sales, and related services.
In recent years, the company has faced operational challenges. In 2024, its revenue was RMB 298 million, down 47.60% year-on-year, with a net loss of RMB 351 million. The decline was attributed to losses from long-term equity investments in subsidiaries, reduced demand for cash-handling equipment, and impairment provisions. For the first three quarters of this year, revenue fell 49.58% to RMB 109 million, with a net loss of RMB 164 million.
Chen Chongjun stated that the change in control aims to support the company's development and enhance profitability. Notably, all shares held by Chen are currently pledged or frozen, with potential further passive reductions in the next 12 months.
Xu Yinghui expressed confidence in the company's investment value, stating that the change in control would integrate resources to improve profitability and sustainable operations. He pledged to manage the company diligently for long-term growth and shareholder returns.
Second, the company announced a private placement to the new controller. Shanghai Guao plans to issue up to 40 million shares to Xu Yinghui at RMB 10.8 per share, raising up to RMB 432 million to supplement working capital. Post-placement, Xu's voting rights will increase to 32.36%.
The company stated that the placement reflects Xu's support for its development, stabilizing control and enhancing competitiveness. The funds will bolster liquidity, support business expansion, and improve financial resilience.
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