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Source: Changjiang Business Daily

Xu Liangli, a reporter from Changjiang Business Daily.

Guanfu shares on the road of transformation (002102Slotempire.SZ) officially changed its name.

On April 23, the abbreviation of Guanfu Stock Securities was officially changed to "Nengte Technology (Rights Protection)". The full name of the company was changed from Guanfu holding Co., Ltd., to Hubei Nengte Science and Technology Co., Ltd.

Nengte Technology was acquired by a listed company in 2014. In recent years, the company has accelerated its transformation, and pharmaceutical intermediates and vitamin E plate have become one of the company's core businesses.

At present, Guanfu shares are promoting no less than 800 million yuan to divest real estate leasing assets and carry out investment layout to better optimize the asset structure.

Achieve revenue of 11.129 billion in 2023

Guanfu shares, founded in 1999, is a technology innovation enterprise driven by pharmaceutical intermediates and plastic trade e-commerce operation. it was listed on the small and medium-sized board of Shenzhen Stock Exchange in 2006. In December 2014, Guanfu, which tried to transform, bought a 100% stake in Nengte Technology for 1.8 billion yuan. Nengte Technology focuses on the research, development, production and sales of pharmaceutical intermediates, leading products are montelukast sodium intermediates for asthma and anti-allergy, and rosuvastatin intermediates for hyperlipidemia and cholesterol.

Since then, Guanfu shares continued to transform, spinning off the household products business such as household ceramics and bamboo and wood products in 2015, and acquiring Shanghai plastic Rice Information Technology Co., Ltd. (hereinafter referred to as "Shanghai plastic Rice") for 1.68 billion yuan in 2016. Shanghai plastic rice is an industrial e-commerce enterprise of "Internet + plasticizing industry", which provides one-stop plastic raw material purchasing service for national plastic products production enterprises. In 2019, Nengte technology and nutrition and health products company DSM (DSM) Group of the Netherlands formed a joint venture Yimante, with a stake of 25%, expanding the pharmaceutical and chemical business to the field of vitamin E and its intermediates.

In 2022, Jingzhou Chengfa Group (the real controller, Jingzhou State-owned assets Supervision and Administration Commission) realized holding Guanfu shares through acquisition. In August 2023, the company's registration moved from Fujian to Jingzhou, Hubei Province.

With regard to the renaming of the company, Guanfu shares said that one of the company's current core businesses is pharmaceutical intermediates and vitamin E plate, which is operated by the wholly-owned subsidiary Nengte Technology Co., Ltd. the changed company name can more accurately reflect the company's business composition and future strategic layout and development.

According to the 2023 annual report, Guanfu shares achieved an operating income of 11.129 billion yuan for the whole year, down 9.23% from the same period last year, while the net profit belonging to common shareholders of listed companies was 259 million yuan, down 41.79% from the same period last year. With regard to the operating pressure, the company said that it was mainly due to the decline in the operating performance of its subsidiary Nengte Technology and Shanghai plastic Rice, as well as a reduction in profit settlement with creditors over the same period.

Divestiture assets to promote transformation

In 2024, the transformation of Guanfu shares continues.

On the one hand, Guanfu shares divested assets again. In early April this year, the company announced that it planned to transfer 100% of its wholly-owned subsidiary Shanghai Wutian Industrial Co., Ltd. at a reserve price of not less than 800 million yuan. Shanghai five days is mainly engaged in investment real estate leasing, which is the non-core business of Guanfu shares.

In 2023, Shanghai's five-day revenue was 27.287 million yuan and its net profit was 17.345 million yuan. For the reasons for the transfer, Guanfu shares said that it is to achieve the purpose of invigorating the company's assets and optimizing the structure, which is conducive to the company's focus on the development of the main business and enhance the company's profitability and core competitiveness.

On the other hand, Guanfu shares carry on the investment layout. On April 19th, the company issued two investment announcements: the subsidiary Mi Science and Technology (Quanzhou) Co., Ltd. invested in the plastic Mi Zhigu Industrial Park project (hereinafter referred to as "Mizhigu Project"), the total investment of the project is estimated at 430 million yuan; the subsidiary Nengte Technology Co., Ltd. invests in the technological transformation project of key pharmaceutical intermediates with an annual output of 130T (hereinafter referred to as "Pharmaceutical Intermediates Project"), with a total investment estimated at 50 million yuan. The total investment of the two projects reached 480 million yuan.

The Mizhigu project plans to build an industrial park with a capacity area of about 180000 square meters in Puban Village, Xunzhong Town, Dehua County, Fujian Province. Guanfu shares believe that the location advantage of the industrial park is obvious, and the investment in the project can obtain relatively stable income and profits. According to the plan, after completion, it is planned that 40% of the area will be self-supporting, 60% of the area will be sold to the outside world, and 60% of the area will be sold abroad, which is expected to increase business income by 300 million yuan and increase profit by 60 million yuan.

The pharmaceutical intermediate project is a technical transformation and capacity expansion project, with two new products totaling 130T / year after reaching production. According to the company, the average annual increase in operating income of the project is 30 million yuan, the net profit is 8 million yuan, and the payback period of after-tax investment (including construction period) is about 6 years.

Editor: ZB