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Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

author:Thunder delivery
Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

Lei Jianping on July 1

Jiangsu Zhongrun Solar Technology Co., Ltd. (hereinafter referred to as "Zhongrun Solar") has recently terminated its IPO and is preparing to be listed on the Growth Enterprise Market of the Shenzhen Stock Exchange.

Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

Zhongrun Solar held a meeting in December 2023, and Zhongrun Solar reduced the financing scale from 4 billion yuan to 2.3 billion yuan, of which 2 billion yuan was used for the annual output of 8GW high-efficiency photovoltaic cell project (phase II), and 300 million yuan was used to supplement working capital projects.

Half a year later, Zhongrun Solar terminated its IPO.

Half-year revenue of 10.8 billion

Founded in 2011, Zhongrun Solar is a manufacturer of high-efficiency solar cells and module products integrating R&D, production, sales and service.

According to the prospectus, Zhongrun Solar's revenue in 2020, 2021, and 2022 will be 2.533 billion yuan, 5.089 billion yuan, and 12.552 billion yuan respectively; net profit was 124 million yuan, -196 million yuan and 834 million yuan respectively; The net profit after deducting non-profits was -24.337 million yuan, -207 million yuan and 730 million yuan respectively.

Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

In the first half of 2023, Zhongrun Solar's revenue will be 10.769 billion yuan, with a net profit of 934 million yuan, and a net profit of 876 million yuan after deducting non-profits.

Mr. and Mrs. Long control 50.6% of the shares

The controlling shareholder of the company is Long Daqiang, and the actual controllers are Long Daqiang and Meng Liye. Long Daqiang is the chairman and general manager of the company, and Meng Liye is the director and deputy general manager of the company.

As of the date of signing of this prospectus, Long Daqiang directly holds 35.44% of the company's shares, and holds 39.88% of the capital contribution of Zhongshan New Energy, 80% of the shares of Haori Electronics, 32.67% of the capital contribution of Henghui Management and serves as the executive partner, and holds 6% of the capital contribution of Longtai Management and serves as the executive partner;

Meng Liye directly holds 6.47% of the company's shares and holds 20% of the shares of Haori Electronics, and Long Daqiang and Meng Liye directly and indirectly hold a total of 49.76% of the company's shares and actually control 50.64% of the company's shares.

Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

In addition, Zhongshan New Energy holds 7.17% of the shares, Guolang New Energy and Jinsheng Changheng hold 5.54% of the shares, Gaoxin State-owned Assets holds 4.8% of the shares, Haori Electronics holds 4.2% of the shares, Guolv Fund holds 3.79% of the shares, Longtai Management holds 2.59% of the shares, Market-Guide Management holds 1.94% of the shares, and Guorun New Energy holds 1.85% of the shares;

Zibo Yingke holds 1.55%, SDIC Environmental Protection holds 1.29%, Jiuyi Zhirui and Dehe Changying hold 1.26% respectively, Zhongqi Holdings holds 1.11%, Guoyue No. 6 holds 1.07%, Sinochem Green and Xiamen Xiangjin hold 1.01% respectively, and Qingdao Yingke holds 0.92%;

Zhongrun Solar's IPO was terminated: it was planned to raise 2.3 billion Long Daqiang and his wife controlled 51% of the shares

Zhongsu Chuangyu, Shaanxi Innovation, Zhongyuan Qianhai, Smart Internet, and Sunshine Renfa hold 0.76% of the shares, Wanlin Chuangfu holds 0.74% of the shares, and Matrix Zongheng, Suzhou Puda, Sinochem Xingfa, and Qilu Qianhai hold 0.63% of the shares respectively;

Bofu Culture and Baochuang Win-Win respectively hold 0.55% of the shares, Zheneng Jiuzhi, Lianghu Culture and Qianhai Ark hold 0.38% of the shares, Huzhou Jianing holds 0.37% of the shares, and Guoyue No. 10 holds 0.33% of the shares.

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