Zheng Quan Zhi Xing·2025-04-24 09:52Core Viewpoint - The competitive takeover bids for ST New潮 have intensified, with Zhejiang Jindi Petroleum offering 4.216 billion yuan for 20% of the shares, while Yitai B shares countered with a higher bid of 11.792 billion yuan for 51% of the shares, highlighting the attractiveness of ST New潮's overseas oil and gas assets [1][3][5]. Group 1: Competitive Bids - Jindi Petroleum initiated a bid for 20% of ST New潮 at a price of 3.1 yuan per share, totaling 4.216 billion yuan [4][5]. - Yitai B shares launched a competing bid for 51% of ST New潮 at a price of 3.4 yuan per share, amounting to 11.792 billion yuan, with a condition that at least 28% of the total shares must be tendered [3][8]. - The competition for control over ST New潮 has led to a significant increase in its stock price, reaching a new high of 3.19 yuan per share [1][7]. Group 2: Company Background and Financials - ST New潮 primarily focuses on oil and gas exploration and production, holding assets in the Permian Basin of Texas, USA, making it a unique independent foreign oil and gas company in the region [5][12]. - The company has faced governance issues, including a lack of a controlling shareholder and ongoing disputes, which have raised concerns among investors [2][11]. - Despite these challenges, ST New潮 has maintained strong financial performance, with net profits of 3.65 billion yuan, 31.27 billion yuan, and 25.96 billion yuan from 2021 to 2023 [12][13]. Group 3: Financial Strength of Bidders - Yitai B shares, as a major coal enterprise, reported revenues of 37.779 billion yuan and a net profit of 5.102 billion yuan in the first three quarters of 2024, with a strong cash position of 14.957 billion yuan [8][9]. - In contrast, Jindi Petroleum's parent company, Jindi Holdings, has a smaller asset base of 28.334 billion yuan and a higher debt ratio of 77.65% [9][10]. - The financial capabilities of Yitai B shares provide it with a competitive edge in the ongoing bidding process for ST New潮 [8].