HYM(SZ:002529) Chang Jiang Shang Bao·2025-04-01 00:39Core Viewpoint - Haiyuan Composite Materials (002529.SZ) is set to undergo a change in its controlling shareholder, with Jiangxi Saiwei Electric Power Group Co., Ltd. planning to transfer its 37.175 million shares to Xinyu Jin Zixin Enterprise Management Center (Limited Partnership) for 350 million yuan, resulting in Xinyu Jin Zixin holding 14.2981% of the company’s total shares [2][3] Group 1: Shareholder Change - The transfer will result in Xinyu Jin Zixin becoming the new controlling shareholder, with Liu Hongchao, Ding Lizhong, and Liu Hao as the joint actual controllers of the company [3][4] - After the transfer, Saiwei Electric will hold 10 million shares, representing 3.8462% of the total shares [3] - The transaction price of 350 million yuan translates to 9.42 yuan per share, which is comparable to the closing price of 9.41 yuan per share before the stock was suspended [3] Group 2: Financial Performance - Haiyuan Composite Materials has reported a continuous decline in performance, with a net profit loss for 12 consecutive years from 2013 to 2024 [9][10] - The company’s projected revenue for 2024 is between 160 million to 208 million yuan, with a net loss expected to be between 130 million to 169 million yuan [9][10] - The company attributes its declining performance to intense price competition and a significant drop in sales volume, leading to a decrease in gross margin [10] Group 3: Historical Context - Haiyuan Composite Materials was listed in December 2010, and its controlling stake has changed hands multiple times, with the most recent change occurring after four years [6][7] - The company’s main business has shifted from hydraulic forming equipment to the development and production of composite material lightweight products and new intelligent machinery [6]