Lei Jianping on June 29
Zhengxin Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Zhengxin Optoelectronics") recently submitted a prospectus to be listed on the Hong Kong Stock Exchange.
Annual revenue of 3.579 billion, down 14% year-on-year
Zhengxin Optoelectronics is a professional manufacturer of photovoltaic modules, and one of the earliest companies in China to start the layout of photovoltaic hydrogen production, and is committed to becoming a provider of green energy solutions.
Zhengxin Optoelectronics mainly produces and sells a full range of photovoltaic modules, including standardized photovoltaic modules for household customers, industrial and commercial enterprises and power station projects, as well as scenario-based photovoltaic modules for various application scenarios.
According to the prospectus, Zhengxin Optoelectronics' revenue in 2021, 2022, and 2023 will be 2.813 billion yuan, 4.172 billion yuan, and 3.579 billion yuan respectively; The gross profit was 340 million yuan, 600 million yuan and 530 million yuan respectively.
Zhengxin Optoelectronics' annual profits in 2021, 2022, and 2023 will be -25.57 million yuan, 150 million yuan, and 93.91 million yuan respectively.
Zhengxin Optoelectronics' revenue in 2023 will decrease by 14% year-on-year, and net profit will decrease by 37% year-on-year.
Wang Guifen controls more than 70%
The executive directors of Zhengxin Optoelectronics are Wang Guifen (formerly known as Wang Guifen), Wang Yingchun, Ms. Wang Meihua, Ms. Wu Liqin and Ms. Zhang Yuzhen; The independent non-executive Directors are Ms. Zhao Lili, Zhu Zhenyu and Yin Yonggao.
Pursuant to the share transfer agreement dated June 12, 2024, Zhengxin Investment transferred 110,582,366 unlisted shares (equivalent to approximately 20% equity interest in the Company) to investor Suqian Guangye at a consideration of RMB200 million.
Before the IPO, Wang Guifen's Zhengxin Investment held 36.84% of the shares, and Wang Guifen's Zhengxin New Energy held 36.63% of the shares, and Wang Guifen was the father of Wang Yingchun; Brother of Ms. Wong Mei Wah; and Uncle Zhongyun.
Wang Guifen, aged 69, has served as a director and chairman of the board of directors since the establishment of the company in July 2006 and was re-designated as an executive director in June 2024. He has been the general manager of the Company since November 2015. He is primarily responsible for overseeing the day-to-day operations and governance of the Group and formulating strategic directions.
Suqian Guangye holds 20% of the shares, Changzhou Zhongyi Cheng holds 1.5% of the shares, and Changzhou Xinbang holds 0.79% of the shares.
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