Luo Yonghao's live broadcast company is going to sell?

The buyer is still a listed cable company

　　On the evening of October 26, the listed company Sunway Co., Ltd. (603333.SH) issued an announcement stating that it plans to acquire 35%-51% of Chengdu Xingkong Yewang Technology Co., Ltd. (hereinafter referred to as "Xingkong Yewang") in order to seek control.

　　The announcement did not mention the specific business of Xingkong Yewang, but interested investors found that from shareholders to industrial and commercial information, many clues of this company pointed to the "Tik Tok Brother"-Luo Yonghao.

　　On October 27th, the Red Star Capital Bureau found that the industrial and commercial registered address of Xingkong Yewang was the registered address of Hammer Technology.

The reporter found on site visits that the place had been replaced with slogans and exhibition boards, and it was transformed into a "Live Broadcasting City of Everything".

　What is the relationship with Luo Yonghao?

　　Shangwei said in the announcement that it is planning a reorganization and plans to acquire 35%-51% of the shares held by existing shareholders of Xingkong Yewang through the issuance of shares and payment in cash, in order to seek control.

　　Sunway's announcement did not mention the specific business of Xingkong Yewang.

However, according to the company profile in the Tianyancha APP, Xingkong Yewang is a live broadcast e-commerce service provider and the most important operator of Luo Yonghao's live broadcast e-commerce business.

　　At the same time, the Red Star Capital Bureau noticed: Luo Yonghao's certification on Douyin Live is the "Make a Friend Technology Chief Recommendation Officer".

Among them, "make friends" refers to Chengdu Jiayou Technology Co., Ltd. The sole shareholder of the company is Xingkong Yewang, holding 100% of the shares.

That is to say: Luo Yonghao's live broadcast main body "make friends" is a wholly-owned subsidiary of Xingkong Yewang.

If Xingkong Yewang is acquired, it will also involve Luo Yonghao's live delivery business.

　　Although Luo Yonghao did not appear on the shareholder list of Xingkong Yewang, the shareholders are almost all his old friends.

For example, Xingkong Yewang’s major shareholder Huang He (holding 61.26% shares), in addition to being the chairman and general manager of Xingkong Yewang, he is also the former product director of Hammer Technology. He once appeared in Luo Yonghao’s live broadcast room and was "making friends." Executive Director and General Manager.

In addition, the second largest shareholder of Xingkong Yewang, Shenzhen Ono Technology Co., Ltd. (holding 14.36%), has launched the product "Ono Electronic Cigarette", and Luo Yonghao once called himself the co-founder of Ono Electronic Cigarette.

　　All clues point to Luo Yonghao, so what is the relationship between this acquisition and Luo Yonghao's live broadcast?

　　On October 27, when asked about the above questions, the staff of Shangwei's Securities Department told the Red Star Capital Bureau, "You may need to check this section yourself. We have announced its shareholding structure, which is not directly related to Luo Yonghao, but I don’t know the indirect (or not)."

　Cable companies want to do live broadcasts across banks?

　　Public information shows: Sunway's original stock is referred to as "Star Cable", which is mainly engaged in the research and development, production, sales and service of high-end special cable products, including cables for nuclear power plants, cables for military, aerospace, and offshore oil platforms. Wait.

　　Red Star Capital Bureau reviewed the financial report of Shangwei shares and found that from 2017 to 2019, its operating income was 914 million yuan, 1.575 billion yuan, and 2.034 billion yuan; the net profit attributable to shareholders of listed companies was 16.88 million yuan and 5798 yuan respectively. Ten thousand yuan and 104 million yuan.

Judging from the performance in 2019, Sunway's operating income reached 2.034 billion yuan, of which ordinary cables and special cables contributed mainly to the revenue. The former contributed about 13.91% of the revenue, and the latter contributed about 81.47% of the revenue. Revenue.

　　It can be said that before the announcement, almost no one could imagine that such a company would expand in the direction of live broadcasting.

When asked about Sunway's future expansion plan in the live e-commerce business, the staff of its securities department told the Red Star Capital Bureau that it is not clear that it is only signing an agreement of intent with the other party (referring to Xingkong Yewang). Still discussing, many details have not yet been finalized.

　　"If it is confirmed, we will make an announcement in time." The above-mentioned staff member said.

　Two inter-bank acquisitions ended in failure

　　Red Star Capital Bureau noted that Sunway had planned two acquisitions in the early years, both of which were cross-border and cross-border acquisitions, one in the tea industry and one in pneumatic components, but both ended in failure.

　　The first time was in July 2015.

At that time, Sunway Co., Ltd. planned to acquire part of the assets of Emeishan Xianzhi Zhujian Tea Co., Ltd. with bonds, but on November 18 of that year, the acquisition was terminated because it was unable to reach an agreement with related parties on the acquisition of assets by debt.

After the termination of this acquisition, Shangwei shares will withdraw a provision for bad debts with a total amount of RMB 37,452,200.

　　The second time was in February 2018.

At that time, Shangwei shares, which had not yet been renamed, planned to purchase overseas enterprises in the pneumatic component industry. Its core products include cylinders, actuators and valve systems.

However, on March 6th of that year, Sunway said that because the conditions for advancing the major asset reorganization were not yet mature, it decided to terminate the planning of this major event.

It is worth mentioning that the controlling shareholder and actual controller of Sunway Co., Ltd. is Li Guangsheng, who is a brother of another shareholder Li Guangyuan.

Among them, the former holds 30% and the latter holds 28%.

　　According to Sunway's third quarter report for 2020, Li Guangsheng holds 156 million shares, of which 92.8 million shares have been pledged, with a pledge ratio of approximately 59.49%; Li Guangyuan holds 146 million shares, of which 144 million shares have been pledged , The pledge ratio is as high as 98.63%.

　　Shangwei shares another cross-border acquisition. Will it succeed this time?

Chengdu Commercial Daily-Red Star News reporter Yang Peiwen