由于区域内下游工业用户需求不足、国内天然气供应持续宽松，标的公司LNG销售价格不及预期，叠加上游中缅管线气源成本上涨等因素，标的公司2024年度净利润预计不能达到1,500万元，将触发原协议回购约定。Delong Composite Energy Group (000593.SZ) announced that the company acquired 0.17 billion yuan of its own funds from the trading counterpart Gao Ge,...
According to the announcement from Delong Composite Energy Group (000593.SZ), the company used its own funds of 0.17 billion yuan to acquire a total of 70% of the equity held by the original shareholders Gao Ge, Ai Xue, and Hao Mengyu (collectively referred to as "original shareholders") in Shengen Gas Co., Ltd. located in Malong District, Qujing City (hereinafter referred to as "Shengen Gas" and "symbol company"), and signed the "Equity Transfer Agreement of Shengen Gas Co., Ltd. in Malong District, Qujing City" (hereinafter referred to as "original agreement") on the same day.
The original shareholders made performance commitments regarding the symbol company for the fiscal years 2023, 2024, and 2025 (hereinafter referred to as the "commitment period") in the original agreement, which stipulated that if the audited actual net income of the symbol company in any accounting year during the commitment period is less than 15 million yuan, the company has the right to notify the original shareholders in writing within 30 days to repurchase all the equity of the symbol company held by the company (hereinafter referred to as the "original agreement repurchase provisions").
Due to insufficient demand from downstream industrial users in the region, continued lax domestic Henry Hub Natural Gas supply, the symbol company's LNG sales prices falling short of expectations, and rising upstream pipeline gas source costs, the net income of the symbol company for the year 2024 is expected to not reach 15 million yuan, which will trigger the original agreement repurchase provisions.
To protect the interests of the listed company, the company actively negotiated with the trading party. In light of the current financial situation of the original shareholders, an "Equity Transfer Agreement" was signed with original shareholder Gao Ge for him to repurchase 21% of the equity of the symbol company held by the company in advance. The repurchase price for the equity is valued according to the original agreement repurchase provisions, as the principal amount the company paid for acquisition plus annualized simple interest at a rate of 7%, totaling 57 million yuan. After this equity transfer, the original shareholders will continue to strictly fulfill performance commitments, valuation adjustments, equity repurchases, and other obligations as stated in the original agreement.
