Aaa Precision disclosed a progress announcement on the control transfer after market close on September 28. The 39.1889 million shares transferred by Cai Ruimei, one of the controlling shareholders and actual controllers, to Shanghai Yusheng Tongfeng Metal Materials Technology Co., Ltd. via an agreement transfer have completed registration, with the transfer date of September 24. The transferred shares account for 29.99% of the listed company's total share capital. The transfer price was adjusted from 27.62 yuan per share to 27.54 yuan per share due to dividend matters, bringing the total transfer consideration to approximately 1.082 billion yuan. This is only the first step of the control change. On the premise of this agreement transfer, Shanghai Yusheng plans to further increase its stake by 13.080388 million shares through a partial tender offer, representing 10.01% of total share capital. After the tender offer is completed, Shanghai Yusheng will hold a combined 40.00% stake, and the controlling shareholder and actual controller will change. As of September 28, the tender offer has not yet been completed, and the actual controllers remain Tu Mulin and Cai Ruimei, who together with persons acting in concert hold 37.80% of shares. The company again flagged multiple risks, saying the share price has risen sharply in the short term and seriously deviated from fundamentals. The latest trailing price-to-earnings ratio is 256.69 times, significantly higher than the average trailing price-to-earnings ratio of 27.40 times for the rubber and plastics products industry over the past month. It also confirmed that the acquirer has no backdoor listing plan within the next 36 months and no business cooperation plan within the next 12 months, and that the listed company and the acquirer are not involved in indium phosphide-related businesses.
AA Industrial Belting