Longji (601012.SH) announced after the closing of the market on April 4 that it intends to spend 1.635 billion yuan to acquire 27.25% of the shares of Centeshixing Group Co., Ltd. (hereinafter referred to as "Centeshixing", 603098.SH) at a price of 12.50 yuan per share. The price of 12.50 yuan per share is 30.75 percent higher than the closing price of Cent shares on March 4.
It is understood that the parties involved in this transaction include Liu Aisen, the controlling shareholder and actual controller of Cent shares, Beijing Shixingya Investment Co., Ltd. (hereinafter referred to as "Shixingya", which is wholly owned by Liu Aisen and his wife Li Guiru), and Huayong Investment Group Co., Ltd., which is held by a natural person Li Yong. In the total transfer of about 131 million shares, Liu Aisen and Shi Xingya accounted for 63.30 percent, which means that Liu Aisen and Li Guiru will cash out about 1.035 billion yuan in the transaction.
Affected by this news, on March 5, the price of Cent shares rose by the daily limit to 10.52 yuan, hitting a five-month high, with a market value of 5.50 billion yuan.After the completion of the share transfer, the combined shareholding ratio of Liu Aisen and Shi Xingya will be reduced from 57.43% to 40.18%, and remain the controlling shareholder and actual controller of Cent shares. Longji shares will become the second largest shareholder of the company, holding 27.25%.
Data shows, in December, co was established in 2001, the registered capital of 480 million yuan, the main products for the new building materials, mainly to undertake metal containment system engineering (roofing system, wall system) and acoustic barrier system engineering, from engineering consulting, design, material supply and processing production to the whole process of installation construction engineering contracting services. At the end of 2016, the company successfully landed in the Shanghai Stock Exchange.Longi said that the acquisition will help promote the business integration of the two parties, and give full play to the advantages of Cent in building roof design and maintenance, while combining with Longi's advantages in BIPV product manufacturing, the two parties will jointly develop the business development in the large public construction market. It will help the company expand the scope of distributed market and expand the application scenarios of photovoltaic products.
Kechuang board daily reported, as the integration of the current domestic photovoltaic industry bibcock, longji shares in 2019 announced the BIPV (photovoltaic building integrated) market, at the same time planning BIPV income dimension to achieve 10 billion yuan 2024, and successfully published last July the first fabricated BIPV product "lung", mainly for commercial and industrial factory building roof. Changjiang Securities research pointed out that Longji's positioning in BIPV construction is mainly based on building materials, although there are BIPV related products in the early market, but due to the relatively high cost at that time has
not been widely promoted.With the long-term downward trend of component manufacturing costs, BIPV products are gradually recognized by the market in terms of economy and aesthetic degree, which is expected to open the domestic blue ocean market.
In China, earlier than Longji shares, Orient Risheng in Jiangsu Jintan base BIPV project has been connected to the grid and put into operation;In July 2017, Hanergy released its first generation of BIPV products, Hanva, which are mainly aimed at industrial and commercial roofing.
Globally, Tesla has done better in this area.It acquired SolarCity, a leading installation company for residential solar systems in the United States, in August 2016.
In 2019, Tesla's energy business relied on SolarCity to generate revenue of 1.53 billion yuan, accounting for 6.2% of total revenue.In a conference call after the earnings announcement, Musk made it clear that he intends to make solar roofs a major business for Tesla.According to him, there is a growing demand for glass solar roofs. In the North American market, Tesla orders 4 million new roofs a year.
"BIPV is one of the most important areas for future photovoltaic applications.Longji intends to acquire 27.25% of Cent's shares at a premium to become the second shareholder. It will form a strong alliance in the BIPV field, solve the separation problem between the photovoltaic circle and the construction circle in the past, expand the scope of the distributed market, and form a strong competition with Tesla and other rivals." "Said Wang Chikun, an independent economist.