宁波方正收购的实控人之女控制公司业绩不达标 仍拟购剩余股权

Core Viewpoint - Ningbo Fangzheng is in the process of acquiring the remaining 60% stake in Junpeng Communication to achieve full ownership, following the previous acquisition of a 40% stake. The acquisition process is reportedly progressing as planned [2]. Group 1: Acquisition Details - The acquisition of Junpeng Communication began in 2023, with a complex process involving a transfer of 64.35 million yuan under the guise of equipment procurement, which was later revealed to be linked to the actual controller's related party transactions [4]. - Ningbo Fangzheng officially acquired 40% of Junpeng Communication for 340 million yuan in December 2024, with the actual controller's daughter being the controlling party of the target company [4]. - Junpeng Communication had performance commitments for net profits of no less than 100 million yuan, 110 million yuan, and 120 million yuan for the years 2024 to 2026, respectively. However, the actual net profit for 2024 did not meet these targets, leading to a provision for asset impairment of 27.63 million yuan [4]. Group 2: Financial Performance and Challenges - From 2022 to the first three quarters of 2025, Ningbo Fangzheng's net profit attributable to shareholders has been declining, with the company entering a loss state post-2023. Despite this, the company is still pursuing the acquisition of the remaining 60% stake in Junpeng Communication [5]. - The company faced penalties from the Ningbo Securities Regulatory Bureau for information disclosure violations and related party transactions, resulting in fines totaling 800,000 yuan for the company and its actual controller [5]. - Ningbo Fangzheng's traditional business in automotive mold manufacturing is facing challenges, while the company is attempting to expand into the lithium battery precision structural components sector. However, the production capacity utilization rates for these components are notably low, at 18.85% for aluminum shell products and 21.37% for cover plate products [5]. Group 3: Financial Pressure and Market Response - Ningbo Fangzheng requires significant cash to acquire the remaining stake in Junpeng Communication, while its debt-to-asset ratio has increased from 38.63% in 2023 to 51.95% in the third quarter of 2025, indicating growing financial pressure [6]. - The company has stated that the acquisition aims to "enhance operational scale and performance, and improve market competitiveness." However, the underperformance of the target company's earnings and the low utilization rates in its lithium battery business raise questions about the rationale and necessity of the acquisition [6]. - An announcement was made on November 12 regarding the ongoing audit and update of financial data related to the transaction, with the market closely monitoring the audit results and final transaction details to assess the true value of this related acquisition [6].