JINGYI INC.(SZ:002295) Sou Hu Cai Jing·2025-10-11 09:20Core Viewpoint - The state-owned asset management company in Meishan is expected to acquire actual control of a listed company, Jingyi Co., Ltd., for approximately 1.086 billion yuan through a judicial auction of shares held by the controlling shareholder [1][5]. Group 1: Acquisition Details - The controlling shareholder, Nantong Sanjian Holdings Co., Ltd., is selling 75,184,700 shares, representing 29.99996% of the total share capital, which will result in a change of control if the auction is completed [1][5]. - The winning bidder, Sichuan Xingdong Investment Group Co., Ltd., won the shares at a final price of 1,085,514,969.60 yuan, which is nearly 40% higher than the starting price of 780 million yuan, translating to approximately 14.44 yuan per share [2][5]. Group 2: Company Background - Sichuan Xingdong is a state-owned enterprise with a registered capital of 3 billion yuan and total assets of 83.9 billion yuan, focusing on various sectors including investment operations, cultural technology services, new energy, health, park development, and urban infrastructure [2]. - The shares being auctioned are the only shares held by Nantong Sanjian, which are currently under pledge and judicial freeze [5]. Group 3: Financial Performance of Jingyi Co., Ltd. - In the first half of 2025, Jingyi Co., Ltd. reported a revenue of 2.381 billion yuan, a year-on-year increase of 38.80%, while the net profit attributable to shareholders decreased by 42.95% to 10.86 million yuan [10][11]. - The company’s total assets increased by 19.26% to approximately 2.491 billion yuan, while the net assets attributable to shareholders remained relatively stable with a slight increase of 0.08% [11]. Group 4: Management Issues - The former chairman of Jingyi Co., Ltd., Huang Yuhui, has been involved in multiple economic disputes and has been listed as a dishonest person by the courts, leading to his resignation [4][9]. - Following regulatory intervention, Huang Yuhui resigned from all positions within the company, and the financial director, Gu Chong, has taken over as chairman [9].