Core Viewpoint - Standard Shares (600302) announced a suspension of trading starting October 21, due to potential changes in company control as per notifications from its controlling shareholder, Standard Group [1] Company Overview - Standard Shares is one of China's major manufacturers of sewing machinery, providing solutions and services for industries such as apparel, bags, home furnishings, and automotive interiors. The company operates under the brands "Standard," "Weiteng," and "Hailing" [3] - The company currently has a total market value of 2.6 billion [3] - In the first half of the year, the company reported revenue of 185 million, a year-on-year decrease of 21.37%, and a net loss attributable to shareholders of 8.52 million [3] - The company aims for a revenue target of 580 million and a net profit of 710,000 by 2025 [3] Strategic Shift - The company has publicly stated its intention to shift from being a single sewing equipment supplier to a provider of system solutions and services in the environmental and apparel sectors [5] - Recently, the chairman of the company, Chang Hong, submitted a resignation due to work adjustments, leaving the chairman position vacant [5] - The board has nominated Wang Kunyuan as a candidate for the board of directors, who is currently the party secretary and chairman of China Standard Industrial Group [5] Parent Company and Financials - The parent company, Xi'an Industrial Investment Group, has stakes in multiple listed companies, including Shaan Gu Power, Western Superconducting, and Tianli Co., among others [7] - As of the end of 2024, the group reported total revenue of 35.846 billion, total industrial output value of 13.613 billion, and total profit of 1.007 billion [7] - The group's total assets amount to 49.5 billion, with net assets of 15.1 billion [7]
600302,实控人筹划重大事项!停牌!