Stock speculation to see Jin Kirin analyst research report, authoritative, professional, timely, comprehensive, to help you tap the potential of the theme opportunity!
Source: Changjiang Business Daily
Huang Cong, reporter of Changjiang Business Daily.
As a world-famous food raw material manufacturer, Andely Group, the controlling shareholder of Andely, was pushed into the dock.
On the evening of April 10th, Andely (605198)5lionmegawaySH, 02218.HK) issued a notice showing that on April 9, the company received a notice from the controlling shareholder Andely Group, which recently received an "enforcement notice".
Specifically, on January 3, 2024, Lin an Trading signed a "loan contract (share Pledge)" with Andely Group, and Andely Group pledged its holding of 8 million shares of Andely to Lin an Trading. Used to guarantee the loan of 160 million yuan under the loan contract.
However, because Andely Group failed to return the principal to Lin'an Business as agreed, Lin an Business Trade filed a lawsuit with the court of Yantai High-tech Zone.
Andely said that if the relevant pledged or frozen shares are enforced by the court, it may trigger the subsequent passive reduction of Andely Group, which is not its subjective will.
According to the official website of Andely Group, the company mainly produces concentrated fruit juice and pectin, with total assets of more than 5 billion yuan.
The Andely Group holds 15.66% of Andely's shares, with a market capitalization of 2.228 billion yuan.
Pledge 8 million shares to replenish the current
Without the money, Andely's controlling shareholders are in trouble.
On the evening of April 10, Andely issued a notice showing that on April 9, the company received a notice from its controlling shareholder, Andely Group, that it had recently received an "implementation notice" from the people's Court of Yantai High-tech Industrial Development Zone.
Specifically, on January 3, 2024, Yantai Lin'an Trading Co., Ltd. (referred to as "Lin'an Trading") signed a "loan contract (share pledge)" with Andely Group. Andely Group, the company's controlling shareholder, pledged its 8 million shares of the company's A shares in circulation to Lin'an Trading to guarantee a loan of 160 million yuan under the loan contract. The term of the loan shall be from June 26, 2023 to July 4, 2024, and the registration of stock pledge will be completed at China Securities Registration and Clearing Co., Ltd. on January 4, 2024.
Because Andely Group failed to return the principal to Lin'an Business as agreed, Lin an Business Trade filed a lawsuit with the court of Yantai High-tech Zone.
On February 19, 2024, the court of Yantai High-tech Zone filed the case. On March 19, the court of Yantai High-tech Zone issued a "Civil Mediation statement" after the trial. On April 8, Lin'an Trade applied to Yantai High-tech Zone Court for enforcement, and Yantai High-tech Zone Court filed the case on the same day.
As of the date of this announcement, the Andely Group and its actors held a total of 175 million shares of Andely, accounting for 50.26% of the company's total share capital, of which the Andely Group held 54.6585 million shares, accounting for 15.66% of the company's total share capital. The 8 million shares pledged by the Andely Group account for 2.29% of the company's total share capital.
Andely said that if the relevant pledged or frozen shares are enforced by the court, it may trigger the subsequent passive reduction of the company's controlling shareholder Andely Group, which is not its subjective will.
On January 5, Andely announced that the pledge of shares in Andely Group was used to supplement liquidity. This is also the first time that Andely Group has pledged its stake in Andely.
What is puzzling is that the Andely Group's borrowing period expires on July 4, but Andely did not explain why he had to return the principal halfway. Moreover, why the Andely Group did not pay, Andely did not explain.
According to the official website of Andely Group, the company was founded in 1996 and is mainly engaged in the production of concentrated fruit juice and pectin. It is a world-famous food raw material production enterprise, with total assets of more than 5 billion yuan, including fruit juice, pectin, beverage and real estate companies.
In addition, Andely Group also owns Andely Real Estate, Andely Yitong Thermal Power and other subordinate enterprises.
According to Andely Group, Andely Real Estate is an emerging pillar industry of the Group. The successful development of Andely Garden and Andely Yinghai Garden indicates that Andely's development has entered a new field of development.
In December 2010, Andely and Lenovo Group Rongke Zhidi Co., Ltd. jointly injected capital and set up a joint venture company to jointly develop real estate.
It is proposed to adjust the dividend by 3.82 million.
It should be noted that Andely's share price has fluctuated abnormally recently.
From March 21 to April 9, Andely shares soared from 21.68 yuan per share to 45.3 yuan per share, an increase of 108.95%, including six trading days.
Since March 26, Andely has issued seven announcements of abnormal volatility in stock trading and responded to inquiries from regulators.
In the announcement, Andely said that the company's current operating conditions are normal, the market environment and industry policies have not undergone major adjustments, production costs and sales have not fluctuated significantly, and the internal production and operation order is normal.
However, at 14:44 on April 10th, Andely fell by the daily limit to close at 40.77 yuan per share.
In terms of the stock price on the date of the announcement, the market value of Andely shares held by Andely Group reached 2.228 billion yuan, while the stock market value of 8 million pledged reached 326 million yuan, far exceeding the loan of 160 million yuan.
Data show that Andely's main business is the processing, production and sales of concentrated fruit juice, and is one of the major concentrated fruit juice processing enterprises in the world.
In 2023, Andely achieved operating income of 876 million yuan, down 17.77% from the same period last year.5lionmegawayThe net profit was 256 million yuan, up 31.48% from the same period last year.
Andely said that in 2023, in the face of risks and challenges such as rising prices of raw materials and fruits, the company stepped up production control and market development, and its output increased significantly compared with 2022, and its sales volume decreased due to the reduction in production in 2022. As a result, sales revenue also declined, but due to the reduction in the production of concentrated fruit juice in China in 2022, the supply of concentrated fruit juice in the international market fell short of demand, resulting in a substantial increase in sales prices in the international market. Under the premise of actively controlling costs, the company's gross profit margin and gross profit have increased significantly, so that the company's net profit has increased significantly compared with 2022.
In 2023, Andely's gross profit margin was 32.99%, up from 20% in 2022. The company said that the increase in gross profit and gross profit margin was mainly due to a sharp increase in product sales prices over the previous year and a decline in sea freight.
In the annual report, Andely said that the company pays a cash dividend of RMB1.50 (including tax) to all shareholders on a basis of 349 million shares.
由此计算，安德利派发现金红利总额为人民币5235万元，占2023年度合并报表归属于母公司普通股股东净利润的20.49%。
不过，3月27日，安德利公告称，公司收到安德利集团的提议函：建议向全体股东每十股派发现金红利人民币2.20元（含税），派发现金红利总额为人民币7678万元，占2023年度合并报表归属于母公司普通股股东净利润的30.05%。
由分红5235万元到7678万元，安德利集团到手的现金从820万元提高至1202万元，能多分382万元。