拟低价易主 小崧股份遭投资者“用脚投票”

Core Viewpoint - Xiaosong Co., Ltd. is undergoing a change in control, with Shanghai Jiasheng Times planning to acquire 9.25% of the company's shares for 286 million yuan, leading to a significant drop in the company's stock price following the announcement [1][2]. Group 1: Control Change Announcement - Shanghai Jiasheng Times intends to acquire 9.25% of Xiaosong Co., Ltd. for 286 million yuan, becoming the controlling shareholder [1][2]. - The share transfer price is set at 9.32 yuan per share, which is a discount compared to the closing price of 9.61 yuan on December 17 [2]. - After the transfer, Jiasheng Times will have the authority to reorganize the board of directors and amend the company's articles of association [2]. Group 2: Market Reaction - Following the announcement, Xiaosong Co., Ltd.'s stock opened 3.43% higher but quickly fell to the daily limit down, closing at 8.65 yuan per share, with a total market value of 2.875 billion yuan [2]. - The trading volume on the day of the announcement was approximately 421 million yuan [2]. Group 3: Financial Performance - Xiaosong Co., Ltd. has faced declining performance, with net losses reported in 2023, 2024, and the first three quarters of the current year [4]. - Revenue figures for 2022, 2023, and 2024 are approximately 1.724 billion yuan, 1.604 billion yuan, and 1.529 billion yuan, respectively, with corresponding net profits of 10.05 million yuan, -6.9164 million yuan, and -225 million yuan [4]. - In the first three quarters of the current year, the company reported revenue of about 764 million yuan and a net loss of approximately 71.11 million yuan [4]. Group 4: Background of New Controlling Shareholders - Jiasheng Times is co-owned by Luo Minghua and Liu Lingshuang, with Luo having a background in finance and management in the textile industry [3]. - Liu Lingshuang has diverse investments across tourism and healthcare sectors, indicating a broad business interest [3]. - Both new shareholders are associated with companies that were established recently, in November of the current year [3]. Group 5: Recent Business Decisions - Prior to the control change announcement, Xiaosong Co., Ltd. disclosed plans to sell its loss-making subsidiary, Guohai Construction, for 150 million yuan [5]. - Guohai Construction reported net losses of approximately 47.17 million yuan and 31.16 million yuan for the previous year and the first three quarters of the current year, respectively [5]. - To avoid conflicts of interest, a board member resigned from his position prior to the transaction [5].