Zhong Guo Ji Jin Bao·2025-12-15 04:48Core Viewpoint - Dongfang Zhizao is planning a change in control, leading to a temporary suspension of its stock trading as announced by the Shenzhen Stock Exchange on December 15, 2023 [2] Group 1: Company Overview - Dongfang Zhizao operates primarily in "intelligent manufacturing" and "comprehensive management services for industrial parks," with its intelligent manufacturing segment including precision measuring tools, intelligent logistics sorting equipment, and vacuum coating equipment [4] - The company was recognized as a "national manufacturing single champion" by the Ministry of Industry and Information Technology in 2024 [4] - Prior to the suspension, Dongfang Zhizao acquired 70% of Saifu Machinery for 27.49 million yuan to strengthen its intelligent manufacturing business [4] Group 2: Shareholding Structure - The current controlling shareholder is Kexiang High-tech Development Co., Ltd., with Li Bin as the actual controller [4] - As of the end of Q3 2025, Kexiang High-tech holds 245.21 million shares, representing a 19.21% stake in Dongfang Zhizao [5] Group 3: Historical Context - Dongfang Zhizao's predecessor, Guanglu Shuce, was listed in 2007, initially controlled by Peng Peng [6] - The company underwent a strategic transformation in 2014, entering the cultural and entertainment media sector, and was renamed Dongfang Network in 2015 [7] - In 2019, control changed hands to Song Xiaozhong through a combination of control transfer and voting rights delegation [8] Group 4: Recent Developments - After the control change, the company faced performance challenges, leading to a bankruptcy restructuring in 2021 and a new control structure involving Song Xiaozhong and Fan Meirong [9] - Li Bin gained control of Dongfang Zhizao at the end of 2023 through a capital increase of 130 million yuan to Kexiang Holdings [9] - The company has struggled to meet performance commitments made by Kexiang High-tech, with a total net profit of only 38.85 million yuan from 2022 to 2024, achieving just 15.54% of the promised 250 million yuan [11] Group 5: Financial Performance - For the first three quarters of 2025, Dongfang Zhizao reported revenue of 219 million yuan, a year-on-year decrease of 9.13%, and a net profit attributable to shareholders of 1.33 million yuan, down 96.08% year-on-year [12] - As of the last trading day before suspension on December 12, 2023, the stock price was 4.30 yuan per share, with a total market capitalization of 5.49 billion yuan [13]