Zheng Quan Shi Bao·2025-10-08 22:43Core Viewpoint - Delixi Co., Ltd. is undergoing a potential change in control, as notified by its controlling shareholder and actual controller, Shi Weidong, leading to a temporary suspension of trading for the company's stock [1][6]. Group 1: Company Overview - Delixi Co., Ltd., founded by Shi Weidong, is headquartered in Fengyang, Anhui, and specializes in the research and manufacturing of various glass products, becoming a leading manufacturer of glassware in China over the past two decades [4]. - The company has faced continuous operational challenges, reporting losses of 110 million yuan, 86 million yuan, and 173 million yuan for the years 2022 to 2024, respectively [4]. - In the first half of 2025, the company reported a net profit loss of 45 million yuan, a staggering decline of 491% compared to the same period last year [4]. Group 2: Business Transformation Efforts - Delixi attempted to pivot its business model by entering the photovoltaic glass market, establishing a wholly-owned subsidiary, Delixi Energy, in 2020, and signing a five-year procurement agreement with Longi Green Energy for at least 250 million square meters of photovoltaic glass from 2022 to 2026, with a total contract value estimated at 5.531 billion yuan [4]. - However, the photovoltaic glass project faced significant challenges, as indicated in the 2025 semi-annual report, which noted that the project was idled due to the overall downturn in the photovoltaic industry [4]. Group 3: Recent Investment Adjustments - In July 2023, Delixi announced the termination of two external investment projects, the Beihai Company and the Delixi Pharmaceutical Glass project, which had not progressed to substantial construction over nearly five years [5]. - The company also disclosed an asset sale plan, agreeing to sell its 100% stake in Fengyang Derui Mining Co., Ltd. for 135 million yuan, which is expected to result in a loss of approximately 6.5 million yuan [5]. Group 4: Market Performance and Trading Suspension - Prior to the trading suspension, Delixi's stock closed at 8.32 yuan per share on September 30, 2023, reflecting a 6.12% increase on that day, with a total market capitalization of 3.3 billion yuan [6].