Core Viewpoint - The recent leadership changes at Shinke Co., Ltd. and the transfer of control to Shenzhen Huili indicate a significant shift in the company's governance and potential strategic direction [1][2][4]. Group 1: Leadership Changes - Shinke Co., Ltd. announced the resignation of Chairman He Jiannan, General Manager Huang Baofa, and Secretary of the Board Chen Lanyan due to personal reasons [1]. - He Jiannan's resignation includes his roles in other subsidiaries, and he will no longer hold any positions within the company or its subsidiaries [1]. - Huang Baofa and Chen Lanyan will also not hold any positions in the company or its subsidiaries after their resignations [1]. Group 2: Shareholding and Control Changes - The control of Shinke Co., Ltd. has changed, with the original controlling shareholder He Quanbo and the second-largest shareholder Beijing Huachuang transferring their shares to Shenzhen Huili [2][4]. - The total shares transferred amount to 62.83 million, representing 41.89% of the company's total share capital [2][3]. - Following the transfer, Shenzhen Huili becomes the new controlling shareholder, and the actual controller is now the Zaozhuang Tai'erzhuang District State-owned Assets Supervision and Administration Commission [4]. Group 3: Financial Performance - Shinke Co., Ltd. reported a revenue of 324 million yuan for 2024, an increase of 18.70% year-on-year, with a net profit of 6.86 million yuan, up 136.13% [6]. - Despite the growth in revenue and profit, the net profit margin stands at only 2.12%, significantly below the industry average [6]. - In the first three quarters of 2025, the company faced challenges, with revenue declining by 4.27% to 225 million yuan and net profit decreasing by 12.43% to 6.15 million yuan [6].

Core Viewpoint - Shenzhen Huili Hongsheng Industrial Holdings (Limited Partnership) is making a mandatory tender offer for all publicly traded shares of Shinke Sliding Bearing Co., Ltd. at a price of RMB 16.13 per share, following its acquisition of 41.89% of the company's shares [3][18]. Company Overview - Shinke Sliding Bearing Co., Ltd. is primarily engaged in the research, production, and sales of thick-walled sliding bearings and related components, with products widely used in high-speed, heavy-load, high-precision, and high-power machinery [5][6]. - The company is listed on the Shenzhen Stock Exchange under the stock code 002633 [2]. Financial Performance - The company's financial data for recent years shows fluctuating revenues and net profits, with a net profit of RMB 86.03 million in 2022, followed by losses in subsequent years [6][7]. - As of the first quarter of 2025, the total assets were RMB 64,863.78 million, with total liabilities of RMB 21,735.42 million, indicating a stable asset base [6]. Shareholding Structure - As of the report date, the total issued shares of the company are 150 million, with 149,418,750 shares being unrestricted circulating shares [9]. - The tender offer is aimed at acquiring 86,587,534 shares, representing 57.73% of the total shares, from shareholders other than the current major shareholders [3][18]. Acquisition Details - The acquisition is triggered by Shenzhen Huili's purchase of shares from the current major shareholders, necessitating a mandatory tender offer for the remaining shares [18]. - The offer price of RMB 16.13 per share is based on the highest price paid for shares in the last six months prior to the announcement [19]. Future Plans - Shenzhen Huili does not currently plan to increase its stake in Shinke Sliding Bearing Co., Ltd. beyond the tender offer and the shares already acquired [21]. - The acquisition is not intended to terminate the listing status of Shinke Sliding Bearing, and the acquirer will ensure compliance with listing requirements [18][21].