天普股份控制权变更背后：62岁实控人交班 多主体承诺36个月不质押

Core Viewpoint - The transfer of control at Tianpu Co., Ltd. is aimed at addressing the company's challenges in transitioning to the new energy vehicle market, with the new controlling party expected to enhance business quality and shareholder value [2][3]. Group 1: Control Transfer and Financial Arrangements - Tianpu Co., Ltd. held an investor briefing on September 16 regarding the transfer of control, with key figures present to clarify the status of acquisition funds and commitments related to shareholding [1]. - The acquisition involves a total funding of 21.23 billion yuan, with over 90% of the core funds already in place, ensuring compliance and clarity in funding sources [5][4]. - The acquisition structure includes a combination of share transfer and capital increase, with significant investments from new stakeholders [2][5]. Group 2: Market Context and Company Performance - Tianpu Co., Ltd. has faced declining profits, with net profits hovering between 20 million to 30 million yuan over the past three years, and a 16.08% year-on-year decline in the first half of 2025 [2]. - The company's stock price surged from 26.64 yuan to 76 yuan per share following the announcement of the control transfer, reflecting market optimism [2]. Group 3: Stakeholder Commitments and Regulatory Compliance - The new controlling party, Zhonghao Xinying, has committed to a comprehensive lock-up and non-pledge agreement for 36 months to stabilize control post-acquisition [1][6]. - The transaction has triggered a mandatory tender offer, with the offer price set at 23.98 yuan per share, meeting regulatory requirements [3]. Group 4: Risk Management and Future Outlook - Tianpu Co., Ltd. has implemented measures to mitigate potential delisting risks associated with the tender offer, including a "bottom line clause" to ensure remaining shareholders can sell their shares at the offer price if delisting occurs [7]. - The company has made progress in obtaining waivers for contingent liabilities related to previous financing agreements, significantly reducing potential risks [8].