Guangxi Oriental Intelligent Manufacturing Technology Co.,Ltd. (002175) announced on December 19 that its controlling shareholder, Kexiang High-Tech Development Co., Ltd. ("Kexiang High-Tech"), and its actual controller, Li Bin, have signed a share transfer agreement with Guangxi Modern Logistics Group Co., Ltd. ("Modern Logistics") and its wholly-owned subsidiary, Guangxi Guiwu Logistics Technology Co., Ltd. ("Logistics Technology"). Modern Logistics and Logistics Technology intend to acquire a 14.3329% stake in the company held by Kexiang High-Tech through a negotiated acquisition.
On the same day, Kexiang High-Tech and Li Bin signed a "Letter of Commitment to Waive Voting Rights for Guangxi Oriental Intelligent Manufacturing Technology Co.,Ltd." Upon completion of the equity change, the company’s controlling shareholder will shift from Kexiang High-Tech to Modern Logistics, and its actual controller will change from Li Bin to the State-owned Assets Supervision and Administration Commission of Guangxi. Trading of the company’s shares will resume on the morning of December 22.
Under the agreement, Modern Logistics and Logistics Technology will acquire 119 million shares (9.33% of total equity) and 63.84 million shares (5% of total equity), respectively, from Kexiang High-Tech. The transfer price was set at RMB 4 per share through mutual negotiation, with a total transaction value of RMB 732 million (tax inclusive). Post-transfer, Kexiang High-Tech will retain a 4.87% stake.
Kexiang High-Tech and Li Bin pledged in the waiver letter to irrevocably relinquish voting rights for their remaining 4.87% stake and any future shares, without delegating such rights to third parties.
Established in 1996, Modern Logistics is a state-owned enterprise specializing in logistics and supply chain services, with operations spanning logistics systems, supply chain management, industrial investment, environmental protection, circular economy, automotive services, financial services, and logistics education. The company reported robust 2024 revenue of RMB 47.603 billion and net profit of RMB 101 million, demonstrating strong operational and financial capacity.
Guangxi Oriental Intelligent Manufacturing stated that the successful completion of this transaction would transition its controlling stake to Modern Logistics under Guangxi SASAC’s oversight. Modern Logistics and Logistics Technology aim to leverage their industrial resources and management expertise to enhance the listed company’s operational efficiency, profitability, and market competitiveness, thereby maximizing shareholder returns.
The company operates dual core businesses: intelligent manufacturing (precision measuring instruments, smart logistics sorting equipment, vacuum coating devices) and industrial park management services (construction oversight, marketing, leasing, and property management). For the first three quarters of this year, it recorded revenue of RMB 219 million and net profit of RMB 1.3281 million, with a current market capitalization of RMB 5.5 billion.
