Sudden announcement: They divorced! The "breakup fee" exceeded 57 million yuan

On the evening of July 24, Space-Time Technology suddenly announced that Mr. Yang Yaohua and Ms. Zhou Lei, shareholders of more than 5% of the company's shares, have gone through the procedures for dissolving their marriage by agreement, resulting in changes in the company's shareholders' rights and interests. Yang Yaohua intends to split his 4.8% stake in the company into Zhou Lei's name. After this equity change, Yang Yaohua holds 7.2% of the shares, and Zhou Lei holds 4.8% of the shares. This change in equity does not affect the tender offer and will not lead to a change in the controlling shareholder and actual controller of the company.

According to the announcement, before the change in equity, Yang Yaohua held 11913260 shares of the company, accounting for 12% of the company's total share capital, and Zhou Lei did not hold shares of the company before the change in equity.

According to the divorce agreement signed by Yang Yaohua and Zhou Lei, Yang Yaohua intends to divide 4764077 shares of the company held by him, accounting for about 4.8% of the company's total shares, into Zhou Lei's name. After this change in equity, Yang Yaohua holds 7149183 shares of the company, accounting for about 7.2% of the company's total share capital; Zhou Lei holds 4764077 shares of the company, accounting for about 4.8% of the company's total share capital.

Space-time Technology fell 6.46% on the 24th, closing at 12.02 yuan per share, with a total market value of 1.19 billion yuan. If calculated according to the closing price of the day, the divorce of Yang Yaohua and Zhou Lei involves a share split of about 57.26 million yuan.

It is worth mentioning that Yang Yaohua sold a total of nearly one million shares of space-time technology in the secondary market in June this year, cashing out a total of about 12 million yuan.

The reporter noticed that after two cash-outs, Yang Yaohua held 12% of the shares, making him the second largest shareholder of Space-Time Technology.

According to the data, the main business of Space-Time Technology is lighting engineering system integration services and smart city Internet of Things system development and product application services, which are mainly used in urban landscape lighting and smart cities. The company was listed on the Shanghai Stock Exchange on August 21, 2020.

In 2020, the net profit of revenue both declined, of which the net profit decreased by 35.30% year-on-year. In 2021, Space-Time Technology will lose even more, with a loss of 17.714 million yuan that year. Since then, the performance of Spacetime Technology has fallen into a quagmire, with revenue continuing to decline in 2022 and 2023, with net profit losses of 209 million yuan and 207 million yuan respectively. The company has been losing money for three consecutive years.

By 2024, the operation of space-time technology has not improved, and the revenue in the first quarter of 2024 will be 60.0915 million yuan, a year-on-year increase of 48.86%; The net profit loss was 35.5997 million yuan, a year-on-year narrow. The company expects net profit attributable to owners of the parent company in the first half of 2024 to be -82 million yuan to -67 million yuan, which is still a loss compared to the same period last year.

Source: Brokerage China, Nanchang Evening News Editor: Hu Yiyi Editor: Lai Ting Review: Lu Hongmei

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