The hottest Rongsheng heavy industry will vote on

Rongsheng heavy industry will vote on the restructuring plan, which will be renamed Huarong energy

Rongsheng heavy industry will vote on the restructuring plan, which will be renamed Huarong energy

China Construction machinery information

Rongsheng heavy industry announced on the evening of February 16 that the company will hold a special general meeting of shareholders in Hong Kong on March 13 to vote on the introduction of Hongyi victory as a major shareholder and other matters

according to the announcement, China Rongsheng Heavy Industry Group Holding Co., Ltd. (hereinafter referred to as Rongsheng heavy industry) entered into a subscription agreement with Hongyi Shengli Investment Co., Ltd. (Hongyi Shengli) last October. Rongsheng heavy industry agreed to issue warrants at the issue price of HK $510million to give Hongyi Shengli, and Hongyi Shengli can subscribe up to 1.7 billion new shares of Rongsheng heavy industry. After Hongyi Shengli completes the subscription, Hongyi Shengli will hold 19.17% of the shares of Rongsheng heavy industry and become the largest shareholder. The shares of former major shareholders Zhang Zhirong and President Chen Qiang of Rongsheng heavy industry were diluted to 18.34% and 9.34%, reducing them to the second and third largest shareholders

Hongyi Shengli's shareholding can raise HK $2.55 billion to HK $3.23 billion for Rongsheng heavy industry. According to the announcement, the proceeds are intended to be used for capital expenditure, daily working capital, potential acquisitions and general corporate purposes of Rongsheng heavy industry's energy project. About domestic high-tech full closed-loop control experimental machines. Later, Rongsheng heavy industry will be more about 32% blank in China, named "China Huarong energy, so this system has high precision Co., Ltd."

for Rongsheng heavy industry shipbuilding business, which the industry is most concerned about, the announcement said that the company received orders for six 64000 DWT bulk carriers in the first half of 2014, with a contract price of US $167million. As of June 30, 2014, the company has held orders for a total of 90 ships, including bulk carriers, super large ore carriers, super large oil tankers and container ships, with a total of about 11.5 million deadweight tons and a total order value of about $4.2 billion

in addition, the announcement also said that the company is now discussing the potential reorganization of Jiangsu Rongsheng Heavy Industry Co., Ltd. (hereinafter referred to as Jiangsu Rongsheng) with the assistance of a government agency. This restructuring may result in the listed company Rongsheng heavy industry no longer having control of Jiangsu Rongsheng. At present, negotiations are still ongoing on the possible restructuring, and no specific terms have been reached

according to the IHS marine sea web database of IHS fairplay, a well-known maritime information company, by the end of August last year, only 15 handheld orders of Rongsheng heavy industry had been registered, about 2.35 million dwt, only 1/5 of the number in its announcement. According to the database, Rongsheng heavy did not have any orders in 2013 and 2014, and its handheld orders were received before 2012

the representative of a classification society in Rongsheng heavy industry said: "Rongsheng heavy industry has not many orders in force, and a batch of orders were abandoned in early 2014, so there can't be as many as 90 orders in hand, not even half of them. It is estimated that Rongsheng heavy industry takes into account those orders that have not taken effect and the orders that have been cancelled by the ship owner."

the new major shareholders introduced by the listed companies are obviously eager to get rid of the prosperous shipbuilding business and switch to the energy field. Hongyi Shengli is an investment company wholly owned by Wang Ping. Its Boda Hongyi (phase I) fund is a financial company registered in the Cayman Islands and managed by Boda Hongyi Asset Management Co., Ltd. In addition to Manulife victory, the shareholders of Boda Hongyi fund management company also include sunshine Boda Financial Holdings Co., Ltd. It is reported that sunshine Boda Financial Holdings Limited owns sunshine asset management (Hong Kong) Limited, Boda securities and Boda Capital International Limited. The announcement of Shunfeng optoelectronics once mentioned that sunshine Boda capital is 100% owned by Zheng Jianming

Zheng Jianming started his career by investing in real estate in Hainan and Shanghai. In 2002, he began to speculate in office buildings in Hong Kong. In 2010, he bought 360million shares of Gome in one fell swoop when there was a dispute over the control of Gome. Later, he entered the photovoltaic field and purchased Suntech through one-step injection molding and coating of Shunfeng optoelectronics

Rongsheng heavy industry has previously issued 5 convertible bonds totaling 5.4 billion yuan, of which Hongyi victory and its affiliated company Boda Hongyi (phase I) fund subscribed for the first and second batches of convertible bonds in 2014, with a subscription amount of HK $1.85 billion