Core Viewpoint - After two years of being listed, Beifang Changlong (301357.SZ) is planning its first restructuring by acquiring Henan Zhongsheng Composite Materials Co., Ltd. through a combination of share issuance and cash payment, aiming to gain control over the target company [1] Group 1: Company Overview - Beifang Changlong focuses on military equipment, primarily engaged in the research, design, production, and sales of non-metal composite materials for military vehicles [2] - The company went public on the Shenzhen Stock Exchange's Growth Enterprise Market on April 18, 2023 [2] Group 2: Financial Performance - Beifang Changlong's financial performance has been declining, with revenues of 250 million, 135 million, and 108 million yuan from 2022 to 2024, representing year-on-year decreases of 12.95%, 46.09%, and 20.13% respectively [2] - The net profit attributable to shareholders has also dropped significantly, with figures of 80.02 million, 11.54 million, and a loss of 10.81 million yuan for the same years, showing declines of 26.32%, 85.61%, and 194.36% respectively [2] - In Q1 of this year, the company reported revenues of 20.57 million yuan, a year-on-year decline of 16.86%, and a net loss of 5.07 million yuan, reversing from a profit of 3.52 million yuan in the same period last year [3] Group 3: Market Interest - Despite the poor financial performance, foreign investment interest in Beifang Changlong remains strong, with major banks like JPMorgan, Morgan Stanley, UBS, and Barclays increasing their stakes and entering the top ten shareholders list [4] Group 4: Restructuring Implications - The potential restructuring is anticipated to significantly improve Beifang Changlong's operational performance, although the exact impact remains to be seen [5]
北方长龙上市2年首度筹划重组 首季亏507万元瑞银等外资抢筹