Hua Xia Shi Bao·2025-08-07 00:18Core Viewpoint - *ST Songfa has undergone significant changes in its main business and ownership structure due to a major asset swap and share issuance, leading to a proposed board re-election to facilitate integration [2][4]. Group 1: Company Background - *ST Songfa, founded in 1945, was listed in 2015 and primarily engaged in the research, production, and sales of daily ceramic products before the recent strategic shift [3][4]. - The company has been under the control of Hengli Group since October 2018, which acquired it through share transfer [3][4]. - Hengli Group is a Fortune Global 500 company and ranked 500 in China's top enterprises, with a wealth of 125 billion yuan as of 2024 [3]. Group 2: Financial Performance - *ST Songfa reported continuous losses from 2021 to 2023, with net losses of 322 million yuan, 171 million yuan, 117 million yuan, and 76.64 million yuan respectively [4]. - The company is expected to achieve a net profit of 580 million to 700 million yuan for the first half of 2025, marking a turnaround from previous losses [4]. Group 3: Strategic Shift - Following the asset swap, *ST Songfa will exit the daily ceramic manufacturing industry and pivot to the research, production, and sales of ships and high-end equipment [4]. - Hengli Heavy Industry, established by Hengli Group in July 2022, aims to become a leading green shipbuilding and high-end equipment manufacturing base, with over 1 billion USD in signed shipbuilding orders [5][6]. Group 4: Market Performance - On August 6, *ST Songfa's stock closed at 48.19 yuan per share, reflecting a 3.59% increase, with a total market capitalization of 41.525 billion yuan [5].