Nord Electronics plans to list the first two shareholders and couples with "low -priced" refund of the shares

Recently, Changzhou Nodo Electronics Co., Ltd. (hereinafter referred to as Nord Electronics) with new energy vehicle line beams and connectors as its core business is being listed on the new three -board innovation layer.

"Daily Economic News" reporter noticed that in 2020, Nord Electronics is still in a state of no actual controller. The major shareholder Mei Ye Bing and his wife directly hold 41.91%, and the two shareholders Dai Renyi and his wife directly hold 31.62%, a single shareholder Nothing cannot determine the company's major matters alone.

Until May 2021, Dai Renyi transferred all the shares of the company to Mei Ye Bing, Qiu Zhixian and Mei Ye Bing as the shareholding platform for executive affairs. Dai Renyi is one of the founding shareholders of Nord Electronics. It has long been the company's second largest shareholder. The price of its transfer of equity is 5 yuan/share, which is far below the price of two shares transfer in November 2020 and December 2021.

The second shareholder couple withdraws from the ranks of shareholders

Nord Electronics was established in June 2008. There were three shareholders during the establishment, namely Liu Huiping, Qiu Zhixian, and Dai Renyi. Since November 2011, Dai Renyi has been the second largest shareholder of the company. The reporter noticed that in September 2019, Dai Renyi was still transferred to others and obtained Nord Electronics's predecessor Nord's limited amount of 04,300 yuan.

The reporting period (2020, 2021 and January to March 2022), Dai Renyi held 26.25%of Nord Electronics, and his wife's shareholding was 5.37%. Two, fifth. The couple of Meiye and Qiu Zhixian ranked first and third in shareholders, but Nord Electronics was in a state of no actual control.

In May 2021, Dai Renyi transferred all 7.875 million shares held by Nord Electronics, and transferred to Meiye Bing, Qiu Zhixian and Meiye Bing as the executive affairs partner at the price of 39.752 million yuan. /Shares, after the transfer, Meiye Bing and Qiu Zhixian became the actual controller of the company; in February 2022, Shiafen transferred all 16.106 million shares to Meiye Bing at a price of 8.0529 million yuan. The transfer price was 5 yuan/ share.

At this point, Dai Renyi and Shi Yafen retired. However, in a few months before and after Dai Renyi transferred the shares, Nord Electronics also carried out several shares, but the transfer price was much higher than Dai Renyi's 5 yuan/share.

In November 2020, shareholders Shi Weifeng transferred 322,100 Nord Electronics for 3.9 million yuan, with a transfer price of 12.11 yuan/share; in December 2021, Beijing Kunlun Tongde Investment Management Center (limited partnership) in Beijing (Limited Partnership) was based on it. 14.4453 million yuan transferred 1.02 million shares of Nord Electronics, with a transfer price of 14.16 yuan/share.

Regarding the reason for the difference in the price difference between the second shareholder Dai Renyi and the transfer price before the declaration, the Nord Electronics director responded to the reporter of the Daily Economic News through an email that Dai Renyi's equity transfer belonged to the exit of the founding shareholder. Shareholders, with Meiye Bing, jointly assumed the repurchase obligation to some institutional investors. Dai Renyi considers the transfer of shares based on personal factors. After the transfer, the repurchase obligations were transferred to Meiye Bing. As for the exit price, it is the result of the negotiation between Dai Renyi and Meiye soldiers.

The reporter noticed that from 2016 to 2022, the shareholders of Nord Electronics (Norders Limited) signed 7 gambling agreements with a number of investors. Signed in January 2016, June 2017 and May 2018, Meiye Bing participated in signing all the gambling agreement. However, the above -mentioned provisions related to the gambling agreement have been lifted in the first half of 2022. Nord Electronics said that the company has cleaned up the special terms that should be cleaned up. There is no dispute between the termination process and will not adversely affect the company's operations.

The company's gross profit margin continues to decline

The main business of Nord Electronics is the development, production and sales of connectors, and mainly used in the fields of new energy vehicles, two -wheeled lithium -battery light transportation, mobility vehicles, wind power, energy storage, industrial automation and other fields. During the reporting period, Nord Electronics realized operating income of 130 million yuan, 203 million yuan, and 50.239 million yuan, respectively, and realized net profit of 1309,600 yuan, 17.2549 million yuan, and 3.575 million yuan, respectively. In 2021, the operating performance increased significantly.

Line beams (new energy line beams, industrial line beams) are the company's maximum source of income. During the reporting period, the proportion of income was 78.86%, 80.17%, and 82.32%, and the income of connectors was 10%to 20%. The output and sales of new energy vehicles have continued to rise, and the market capacity of new energy vehicle lines and connectors has increased rapidly. Regarding future business goals, Nord Electronics said that it will continue to take new energy vehicle line beams and connectors as its core business, and seize the development opportunities of the new energy vehicle industry.

However, the public transfer manual (declaration draft) also reminds the risks such as cyclical fluctuations in the new energy vehicle industry and intensified market competition. At present, my country's automotive line beam industry is still relatively concentrated, and foreign brands account for the main position. The sustainable development of the new energy vehicle industry will attract more automotive wire beam manufacturers to enter the field, leading to intensified market competition. In addition, the connector industry is also facing the same competitive pattern. The overall marketization is high and the competition is fierce. The top ten manufacturers are mainly occupied by companies in Europe, America, Japan and other places. The increasingly fierce market competition is also one of the factors affecting the decline in Nord's electronic gross profit margin. During the reporting period, Nord Electronics's gross profit margin was 30.50%, 23.36%, and 20.94%, respectively, and continued to decline.

The reason is that on the one hand, the price of copper prices rises sharply, leading to the rise in the prices of major raw materials, and at the same time, labor costs have increased; on the other hand, the increase in product prices is small.

Nord Electronics stated that the company's downstream customers are mainly suppliers, electrical electronic devices, electrical products and motor manufacturers in the industry with large -scale new energy vehicle parts parts in the industry. The company's bargaining space is relatively small. The competition is increasingly fierce, and the company cannot completely transfer the price of raw materials to the downstream, and individual customers have not signed a price linkage agreement with the company, resulting in the increase in the price of the company's comprehensive unit price of the company's comprehensive unit than the unit price of raw materials.

Faced with the rise in raw material prices and the decline in gross profit margin, Nord Electronics also proposed response measures, mainly including the means of preservation of value preservation through futures sets to reduce the negative impact of copper prices; in the future, when signing contracts with customers, appropriately increase the difference in copper prices. Settlement clauses; continuously enrich product types and enhance customer stickiness.

Daily Economic News

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