HANGZHOU GAOXIN(SZ:300478) 中国基金报·2025-06-30 15:33Core Viewpoint - Hangzhou High-tech is planning a change in control, with the controlling shareholder proposing to transfer 19.03% of the company's shares, which may lead to a change in control of the company. The stock has seen an increase of nearly 50% in the first half of the year [2][4]. Summary by Sections Control Change Announcement - On June 30, Hangzhou High-tech announced that its controlling shareholder, Zhejiang Donghang Holding Group Co., Ltd., and actual controller Hu Min are planning to transfer 19.03% of the company's total shares, which may result in a change of control [4]. - The stock was suspended from trading starting June 30, with the suspension expected to last no more than two trading days [4]. Company Overview - Established in 2004, Hangzhou High-tech is primarily engaged in the research, production, and sales of polymer materials for cables. The company offers a variety of products, including general PVC cable materials, special PVC cable materials, halogen-free low-smoke flame-retardant cable materials, special polyethylene and cross-linked polyethylene cable materials, and chemical cross-linked cable materials [4]. - The company's products are widely used in sectors such as 5G, military, marine engineering, electricity, new energy, and rail transit [4]. Financial Performance - In 2024, the company reported operating revenue of 384 million yuan, a year-on-year decrease of 1.23%. The net profit attributable to shareholders was a loss of 24.34 million yuan, attributed to intense market competition and high financial costs [5]. - In the first quarter of the year, the operating revenue was 83.91 million yuan, a year-on-year increase of 21.75%. The net profit attributable to shareholders was a loss of 1.80 million yuan, which is a significant narrowing compared to a loss of 4.07 million yuan in the same period last year [5]. Previous Transactions - In December of the previous year, the company announced plans to acquire 51% of the shares of Fujian Nanping Solar High-tech Materials Co., Ltd. from Hangzhou Ruixin Cable Materials Partnership. However, this major asset restructuring was abruptly terminated in January due to disagreements on valuation and commercial terms [5]. - In March, the company announced plans to jointly establish "Fujian Nanping Solar High-tech Cable Materials Co., Ltd." with Fujian Nanping Solar Cable Co., Ltd. to promote industry chain collaboration and market development in South China [6]. Stock Performance - As of June 27, prior to the suspension, the stock closed at 13.48 yuan per share, with a year-to-date increase of 49.61%. The latest total market capitalization was 1.7 billion yuan [7].