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There's Reason For Concern Over Suzhou Jinfu Technology Co., Ltd.'s (SZSE:300128) Massive 35% Price Jump
After three consecutive years of losses, suzhou jinfu technology sold assets to change tracks. Can they turn the tables with a 'survival by cutting off the arm' strategy? | Speed reading announcement
1. Suzhou Jinfu Technology sold 53.42% of its shares in Shenjie Environmental Protection for 0.507 billion yuan. The performance of this subsidiary did not meet expectations and lacked synergy with the main business. 2. Recently ventured into the electrochemical materials business, the company increased its capital in Jintianchi by 71 million yuan, claiming it aligns with the company's global strategy. 3. The net income has been continuously incurring losses since 2021, and the company previously stated it would increase investment in differentiated niche product categories.
Suzhou Jinfu Technology (300128.SZ): Intends to increase capital to subsidiary Jintianchi.
On September 29, Gelonhui announced that recently, the company reached an agreement with its subsidiary, Jiangsu Jintianchi New Materials Technology Co., Ltd. (referred to as 'Jintianchi') and two other shareholders, Shanghai Bai Gongli New Materials Technology Co., Ltd. (referred to as 'Bai Gongli') and Shanghai Hongchang New Materials Technology Co., Ltd., on the capital increase for Jintianchi, and signed the 'Capital Increase Agreement': the company will increase the capital by RMB 71 million to Jintianchi using the 100% equity of Taixing Tianma Chemical Co., Ltd. (referred to as 'Tianma Chemical'), of which 22 million yuan will be included in Jintianchi's registered capital.
Suzhou Jinfu Technology (300128.SZ): Intends to sell its shares in Clean & Pure Eco-friendly Company.
Jinfu Technology (300128.SZ) announced on September 29th that the company intends to sign an equity transfer agreement for Shanghai Shenjie Environmental Protection Technology Co., Ltd. with Taixing Dongzhi Industrial Development Co., Ltd. (referred to as 'Dongzhi Industrial'), Shanghai Shenjie Environmental Protection Technology Co., Ltd. (referred to as 'Shenjie Environmental Protection' or the 'target company'), Zhang Siping, and Zhang Hezhao. The company plans to transfer 53.42% of the shares held by Shenjie Environmental Protection at a price of 507.49 million yuan to Dongzhi Industrial. At the same time, the company plans to concurrently transfer performance compensation from Zhang Siping and Zhang Hezhao received for offsetting commitments to Dongzhi Industrial.
Suzhou Jinfu Technology (SZSE:300128) Is Carrying A Fair Bit Of Debt
Suzhou Jinfu Technology (300128.SZ) has seen multiple directors and high-level executives increase their shareholding, with more than half of the planned increases not yet implemented.
Suzhou Jinfu Technology (300128.SZ) announced that the company has received a notice from Mr. Gu Qing, the chairman and general manager of the company, and Mr. Wang, the deputy general manager...
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