Foshan Lighting sold Guoxuan Hi-Tech shares for a profit of 850 million yuan

On the evening of July 19, Foshan Lighting announced that it plans to take a large-scale transaction or a centralized bidding transaction before December 31, 2016, and choose to reduce the shareholding of some Guoxuan Hi-Tech shares. The number of shares reduced will not exceed 36.5 million. share. On the evening of July 19, Foshan Lighting announced that it plans to take a large-scale transaction or a centralized bidding transaction before December 31, 2016, and choose to reduce the shareholding of some Guoxuan Hi-Tech shares. The number of shares reduced will not exceed 36.5 million. share. On the evening of December 8, Foshan Lighting announced that from November 15 to December 7, the company reduced its shareholding in Guoxuan Hi-Tech by 29.27 million shares. The first reduction after the announcement of the reduction plan According to Foshan Lighting's announcement on the evening of December 8, the company sold the company's holdings from November 15 to December 7, through the block transaction method with an average price of 32.94 yuan per share. Guoxuan Hi-Tech stocks 29.27 million shares, accounting for 3.34% of the total share capital of Guoxuan High-Tech, with a total turnover of 964 million yuan. As of the announcement date, the company still holds 41.74 million shares of Guoxuan Hi-Tech, accounting for 4.99% of the total share capital of Guoxuan Hi-Tech. For this reduction, Foshan Lighting has already greeted in advance. On the evening of July 19, Foshan Lighting issued a notice saying that after deliberation and approval by the company's board of directors, it agreed to authorize management to take large-scale transactions or centralized bidding transactions from the date of deliberation and approval of the board of directors to December 31, 2016. Holding some Guoxuan Hi-Tech stocks, the number of reductions will not exceed 36.5 million shares, no more than 4.17% of the current total share capital of Guoxuan Hi-Tech. The proposal was approved by the company's extraordinary shareholders meeting on August 23. It is worth mentioning that, according to Foshan Lighting's previous announcement, after the completion of the reduction plan, the company's shareholding in Guoxuan Hi-Tech will drop to 36.51 million shares, accounting for 4.17% of the total share capital of Guoxuan Hi-Tech. On the evening of December 8, the announcement showed that after the shareholding reduction, the company still holds 43.74 million shares of Guoxuan Hi-Tech, accounting for 4.99% of the total share capital of Guoxuan Hi-Tech. In this regard, Foshan Lighting said that it is not possible to continue to reduce the stake in Guoxuan Hi-Tech in the next 12 months. Reduced holdings of 850 million yuan in the A-share market in recent years, there have been many listed companies that are good at equity investment, "Daily Economic News (blog, Weibo)" reporter noted that Foshan lighting is also one of them . According to the announcement before Foshan Lighting, the company acquired 20 million shares of Hefei Guoxuan Gaoke Power Energy Co., Ltd. (hereinafter referred to as Hefei Guoxuan) for RMB 160 million in July 2010, accounting for 20% of the total share capital of Hefei Guoxuan. With capital increase and share expansion, the company's shareholding increased to 30 million shares. In May 2015, Hefei Guoxuan successfully listed on the listing of Jiangsu Dongyuan Electric Group Co., Ltd., and the number of shares held by the company increased to 73.01 million shares. With the backdoor listing of Hefei Guoxuan, the stock price of Guoxuan Hi-Tech has soared, so Foshan Lighting earned a lot of money through this equity transaction. According to the preliminary announcement on December 8th, Foshan Lighting sold 29.27 million shares of Guoxuan Hi-Tech. After deducting the cost and related taxes, the company obtained an investment income of 850 million yuan, which is expected to increase the company's 2016 net profit by 720 million yuan. . According to Foshan Lighting's 2015 annual report and the 2016 third quarterly report, the company's net profit attributable to shareholders in 2015 was 53.41 million yuan. In the first three quarters of 2016, the company achieved a net profit attributable to shareholders of 280 million yuan. Therefore, the company's investment income from the reduction of Guoxuan Hi-Tech stock reached nearly 16 times the company's 2015 net profit, which is more than twice the net profit of the company in the first three quarters of 2016.

A lifting hook is a device for grabbing and lifting loads by means of a device such as a hoist or crane. A lifting hook is usually equipped with a safety latch to prevent the disengagement of the lifting wire rope sling, chain or rope to which the load is attached.

1. Our History:

LITE Crane Co., LTD has focused on top quality Crane Parts for over 14 years in China. We started as a small operation, but now have become one of the leading suppliers in the crane industry in China.

Today, LITE Crane Co., LTD has been one of the top producers of quality crane and crane parts, such as: Electric Hoist, single, double girder bridge, gantry, grab, casting, explosion-proof crane series and accessories.

 

2. Our Factory:

LITE Crane Co., LTD is located in Xinxiang, Henan Province China. The company covers an area of 680 thousand square meters and owns more than 2700 employees. The annual sales of LITE Crane Co., LTD is 1.6 billion USD, there are more than 600 sales agencies at home and abroad and more than 180 middle& senior engineering and technical personnel who are in charge of design and development of all products and also own the development center of their new technology and products. 

                

3.Our Product:

Our Products includes the following:

 

1, Crane accessories

2, Electric hoist

3, Single - beam cranes

4, Double - beam cranes

5, Bridge Crane

6, Gantry Crane

7.Lifting equipment and accessories

We supply crane products all over the globe to a wide range of companies worldwide.

 

 

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The products are widely used in the following industry, such as power plants, nuclear power, water conservancy, tunnels, bridges, petrochemical, metallurgy, construction, open-air warehouse, wharf, workshop ...

 

5.Our Certificate:

Our company is a member of China Crane Association and vice chairman company of China Heavy Machinery Association. It owns the production licenses of electric hoist, single & double-girder crane, the safety of the approval certificate of manufacturing, installation and maintenance, the safety approval certificate of the manufacturing of 320T bridge crane, portal crane and 280Tcasting crane.

The company has passed the quality system certification of GB/T19001 -2008/IS09001:2008, the environmental management system certification of GB/T24001-2004/ISO14001:2004 and the occupational health and safety management system certification GB/T28001-2001.

 

6.Production Equipment:

There are 1600 units of all kinds of processing equipment which can independently accomplish all the processes such as milling, digging, grinding, pulling, boring, rolling, drilling, punching, cutting, bending, welding, testing and heat treatment. 

 

7.Production Market:

Our products are sold to more than 30 provinces, municipalities and autonomous regions in China, and also exported to Australia, Vietnam, India, Thailand and some Southeast Asian countries. The annual sales of double-girder and portal cranes is more than 3600 units, more than 23000 units single-girder cranes, about 23000 units single-girder & double-girder electric hoist and accessories. The production and sales of the single-girder cranes has lead the nation for seven consecutive years and the per capita output and economic benefits are among the best in the same industry.

8.Our service:

Besides our existing molded products, LITECrane Co., LTD also can produce products according to the drawings or samples from our customers. We control the product quality critically for every step during the manufacturing from custom. 



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Shandong Lite Electrical Co.,Ltd , http://www.chinacranegroup.com