Daqian(SH:603955) Zheng Quan Zhi Xing·2025-07-15 16:21Core Viewpoint - Daqian Ecological Environment Group Co., Ltd. plans to issue A-shares to its controlling shareholder, Suzhou Bubugao Investment Development Co., Ltd., which will increase the latter's shareholding percentage and may trigger a mandatory tender offer obligation [1][2]. Group 1: Issuance Details - The company intends to issue up to 33,385,703 shares, not exceeding 30% of the total share capital before the issuance [2]. - Before the issuance, the total share capital of the company is 135,720,000 shares, with Bubugao holding 24,548,887 shares (18.09%) [2]. - Post-issuance, the total share capital will be 169,105,703 shares, and Bubugao's shareholding will increase to 57,934,590 shares (34.26%) [2][4]. Group 2: Shareholder Information - Suzhou Bubugao Investment Development Co., Ltd. is the controlling shareholder, with a registered capital of 916 million yuan and primarily engaged in real estate investment and management [2][3]. - The actual controller of Bubugao is Zhang Yuan, who has been involved in the company's operations since its establishment in November 2016 [2]. Group 3: Financial Performance - As of December 31, 2024, Bubugao reported total assets of 470,717.86 million yuan and total liabilities of 216,962.10 million yuan, resulting in total equity of 253,755.75 million yuan [3][4]. - The company recorded a net profit of -2,232.49 million yuan for the year 2024, indicating a loss compared to the previous year [4]. Group 4: Regulatory Compliance - The issuance requires approval from the company's shareholders' meeting, the Shanghai Stock Exchange, and the China Securities Regulatory Commission [1][7]. - Bubugao has committed to not transferring the newly issued shares for 36 months if its shareholding exceeds 30% post-issuance, subject to regulatory adjustments [6][7].