2021-02-20
Suddenly throw 17.5 million RMB to acquire Lixun Precision Sun Company Huihong Electronics, Cheersson shares immediately trading limit
On the afternoon of February 18th, Cheersson announced that the company acquired 68.97% equity of Wuxi Huihong Electronics Co., LTD. (" Huihong Electronics ") held by Kunshan Lixun RADIO Frequency Technology Co., LTD. (" Lixun Radio ") with its own capital of RMB 17.50.00 million.
Throw less than 20 million RMB to acquire 68.97% of huihong Electronics shares, won the listed company's stock price immediately rose by the limit, the total share capital of only 100 million shares of Cheersson (002976.SZ) should have such a big ability!
On the afternoon of February 18th, Cheersson announced that the company acquired 68.97% equity of Wuxi Huihong Electronics Co., LTD. (" Huihong Electronics ") held by Kunshan Lixun RADIO Frequency Technology Co., LTD. (" Lixun Radio ") with its own capital of RMB 17.50.00 million.
On the same day, the company and Lixun RF in Suzhou High-tech Zone signed the "equity transfer agreement". After the completion of the transaction, Huihong Electronics has become a holding subsidiary of the company.
On the news, Cheersson Industry's share price rose by the daily limit today, closing at 25.39 RMB, up 10.01%.
It is worth mentioning that for this transaction Li Xun Precision (002475.SZ) did not release the relevant announcement.
"This transaction is a transaction within the purview of our general manager." On the afternoon of February 19, Datjun called Risun Precision Securities department to get a reply. And for why will sell Wuxi Huihong, the staff said is not very clear.
Has Huihong Ever cooperated with Huawei?
According to the announcement, Huihong electronics based on ceramic dielectric materials of the main products include microwave ceramic materials and devices, ceramic resonators, ceramic antenna, ceramic filter parts, Beidou ceramic antenna, GPS antenna, satellite timing antenna, Bluetooth antenna, microwave electronic components.
Cheersson said that the acquisition will help the company to expand its existing products in mobile communications and consumer electronics, expand new customers and businesses, and accelerate the company's strategic layout in the industrial application of new ceramic materials.
What are those application areas? On the afternoon of February 19, Dataijun sent an interview letter to Cheersson To obtain relevant response. Cheerssons aid, "Huihong Electronics' products based on ceramic media materials include various RF components, which can be used in mobile phones, TW headphones and other products."
However, it is worth noting that the partial data of Huihong electronic official website is controversial. According to the company's official website, the company was founded in 2013, cooperated with Huawei in 2014, and developed nine types of media materials in 2015.
"Huihong Electronics was established on January 13, 2016," The company said in response.
"The company and Huihong Electronics have not directly established business relations with Xiaomi, Huawei and other enterprises." Cheersson further explained to the data that whether the company and Huihong's customers supply products to mobile phone manufacturers including Huawei, due to the requirements of commercial confidentiality, the company and Huihong Electronics did not obtain exact information.
Is there any cooperation with Huawei in the end, and is the establishment date 2013 or 2016?
For further investigation, Data Jun called Manager Tian, huihong electronic's contact person on the official website, but the manager was not willing to say more about the relevant issues and hung up the phone hastily.
However, data jun still found relevant information through Tianyan check, Tianyan check shows that Huihong Electronics was indeed founded on January 13, 2016.
This means that the cooperation with Huawei in 2014 that Huihong electronics introduced on its official website may not exist.
Who is Cheersson?
It is understood that Cheersson has not disclosed the 2020 performance forecast, but the data of the first three quarters of its financial results published in October last year found that The revenue and net profit of Cheersson have declined.
According to the announcement, Cheersson achieved a total operating revenue of 410 million RMB in the first three quarters of 2020, down 7.6% year on year; The net profit of RMB 44,821, down 26% year on year; Operating cost was 290 million RMB, down 4% year on year, lower than the 7.6% decline rate of operating revenue, gross margin decreased 2.7%. Expense ratio for the period was 16%, up 2.7% from the previous year, which was a drag on the company's performance. Operating cash flow plunged 54.2% to 38.23 million.
In the third quarter of last year, the company's net profit was 15.73 million RMB, down 9.69 percent year-on-year. This means that Cheersson spent more than a quarter of net profit to acquire Huihong Electronics.
In fact, It has been less than a year since Cheersson was listed on the Shenzhen Stock Exchange on March 6, 2020. At present, the share capital of the stock is only 100 million shares, the float of 250 million shares.
Public information, Cheersson was founded in 2012, mainly engaged in mobile communications equipment and spare parts, automobile, electric power industries such as precision parts and corresponding mold research and development, production, sales, the main products include mobile filter, through precision stamping, cold heading, machining process etc. made of resonator, low pass, plate, etc.
There are also mobile communication parts, safety airbag support, multimedia support, solenoid valve, oil seal skeleton, bolts, rivets and other automotive safety system, transmission system, intelligent connection system parts, switch components, riveting nuts, riveting screws, nuts and other power and electrical parts, as well as the corresponding mold products.
According to the semi-annual report of Cheersson, ceramic products such as ceramic dielectric filters, functional ceramic devices, appearance and structure ceramic parts for consumer electronics and corresponding mold products have been actively developed and tested.
It is reported that the company's business covers Europe, Asia, America and other regions, and has maintained long-term good business cooperation with the world's well-known mobile communication equipment suppliers, electronic manufacturing service providers, large multinational auto parts suppliers and electric power manufacturers. The main customers are Nokia, Ericsson, Flextronics, New America Asia, Jeep, Minth, Harman, ZF TRW, Continental, Magna, Schneider and so on.
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