On the evening of May 10th, Oriental Materials (603110) (SH603110, 15.Lotteryamount.94 yuan with a market capitalization of 32LotteryamountAccording to the announcement, 60.1668 million shares held by Xu Guangbin, the controlling shareholder and actual controller, have been frozen on the waiting list, accounting for 29.9% of the company's total share capital and 100% of its shares.
Last year, Oriental Materials planned to buy 51 per cent of TD TECH held by Nokia Solutions and Networks GmbH&Co.KG (Nokia), which was eventually terminated. In addition, Oriental Materials plans to lay out its computing business, but it did not generate revenue last year.
This time, the actual controller of Oriental Materials has accumulated about 900 million yuan due to debt overdue, litigation, arbitration and so on, and all his shares in the company have been frozen on the waiting list. Oriental material said that the matter will not have an impact on the company's production and operation.
The shares held by the actual controller are all frozen.
According to the announcement of Oriental Materials, Xu Guangbin, the company's controlling shareholder and actual controller, has overdue or defaulted on his debts in the last year. The overdue amount of debt involved is about 36 million yuan.LotteryamountA total of 6 cases of litigation or arbitration are involved (of which 5 are in the stage of litigation or arbitration and 1 is in the stage of execution), involving an amount of about 869 million yuan. at present, the trial of the above-mentioned litigation or arbitration cases has not yet been completed, and the outcome of the relevant litigation or arbitration cannot be judged.
However, Oriental Materials said that Xu Guangbin, the company's controlling shareholder and actual controller, was frozen on the waiting list, which would not affect the production and operation of the company. The freeze on the waiting list is a pre-litigation preservation measure and will not have a significant impact on the stability of corporate control.
According to the 2023 report, Xu Guangbin was chairman of Xiamen Blue Mang Technology Co., Ltd., vice president of Century Internet, head of cloud computing business, and vice president of Universal data sales. Chairman and president of Huayun data holding Group, chairman and legal representative of Oriental Materials.
According to Oriental Materials, Xu Guangbin and the company's core executive team have been in the field of IT for more than 20 years and have profound understanding and rich experience in IDC, ISP, cloud computing, computing, artificial intelligence and other fields. "they have extremely forward-looking strategic vision and strong ecological influence."
In mid-August 2023, Oriental Materials set up a wholly-owned subsidiary-Oriental Supercomputing (Shenzhen) Technology Co., Ltd. (hereinafter referred to as Oriental Supercomputing) in Shenzhen, and plans to enter the field of computing. In November 2023, Oriental Materials increased the capital of Oriental Super calculation by 190 million yuan, and the registered capital reached 200 million yuan after the increase. At the time, the company said that Oriental Supercomputer only signedLotteryamountPart of the small test orders, not signed long-term orders, the future will be gradually signed according to the test situation, there is uncertainty.
A reporter from the Daily Economic News noticed that as of the end of last year, the monetary funds on the company's account were 243 million yuan. In addition, the 2023 report did not show that the company achieved revenue in the computing business.
On April 29, Oriental Materials said on the investor interactive platform that at present, the company promotes the development of computing business and has a larger demand for capital expenditure. The company's undistributed profits will focus on the capital increase of the wholly-owned subsidiary Oriental Super calculation and the follow-up calculation business development, R & D investment and project construction.
Oriental materials mentioned that in the early stage of the development of computing business (2023-2025), the company plans to take computing leasing as the main business direction, and at the same time actively participate in the construction layout of national integrated computing cluster and national integrated computing platform. create a moat of market competition in the two dimensions of ecology and technology In the middle stage of the development of computing business (2026-2028), the company plans to shift its main business direction to the construction of intelligent computing center clusters, arithmetic dispatching, and increase profit margins and market share segments.
Last year, Huawei opposed the proposed cross-border transaction.
The traditional main business of Oriental Materials is ink business. As the industry has entered a mature period, the business growth space has gradually reached the ceiling, and the company's revenue has been maintained at around 400 million yuan for many years. Oriental Materials is no longer satisfied with sticking to the original business, but wants to find the second growth curve through cross-border. And one of the most well-known is the proposed acquisition of TD TECH last year.
On April 9, 2023, Oriental Materials announced that it plans to spend 2.12 billion yuan to acquire a 51% stake in TD TECH. In particular, the company stressed that after the completion of the acquisition, the listed company is expected to add related party transactions with Huawei, a minority shareholder in TD TECH.
After the announcement, Huawei issued a statement on its website opposing Oriental Materials' acquisition of a stake in TD TECH, saying that Huawei had no intention or possibility of operating TD TECH in a joint venture with Oriental Materials.
After Huawei issued a statement of opposition, the Shanghai Stock Exchange issued a regulatory letter to Oriental material, requiring the company to explain in detail the reasonableness of the cross-border acquisition, the business of the target company, its financial situation and the pricing of the transaction, and provide a list of insider information and a memorandum of transaction process for transaction verification.
On December 19, 2023, Oriental Materials announced that it would terminate its acquisition of a 51 per cent stake in TD TECH, following Huawei's objection and regulatory inquiries.
Daily economic news