Guanghetong berencana mengendalikan Hangsheng Electronics 5 bulan yang lalu H-share mengumpulkan 2,9 miliar HKD hari pertama jatuh dari harga penawaran

China Economic Net, Beijing, 25 March — Yesterday evening, GWTong (300638.SZ) released a notice regarding the planned major asset reorganization.

The company plans to acquire the controlling rights of Shenzhen Hangsheng Electronic Co., Ltd. (hereinafter referred to as “Hangsheng Electronic,” “target company”) by means of a cash consideration. The transaction price and the specific proportion of equity acquisition are subject to further demonstration and negotiation. Upon completion of this transaction, Hangsheng Electronic will become a controlling subsidiary of the company.

According to preliminary calculations, this transaction is expected to constitute a major asset reorganization as stipulated in the “Measures for the Administration of Major Asset Reorganizations of Listed Companies,” and a major transaction under Chapter 14 of the “Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.” This transaction will use a cash consideration method. It does not involve the issuance of shares by the company, does not constitute a related-party transaction, and will not lead to any change in the controlling rights of the listed company.

This transaction is still in the planning stage. The transaction parties have not yet signed any related agreements. The specific transaction方案 still needs further demonstration and negotiation, and it is still necessary to fulfill the necessary internal and external decision-making and approval procedures of the company, the target company, and the transaction counterparty.

GWTong states that the target company’s principal business is the research, design, production, and sales of automotive electronic products. The listed company has been deeply engaged in vehicle-mounted wireless communication module technology for many years. By integrating downstream enterprises, the listed company has realized a transformation from a supplier of vehicle-mounted communication modules to a provider of end-to-end automotive electronic solutions. After the completion of this transaction, Hangsheng Electronic will become a controlling subsidiary of the company. The listed company and the target company will carry out in-depth integration and synergy. The listed company’s business scale will be enhanced, and it will effectively improve the listed company’s ongoing operating capability and its sustainable development capability, which is in line with the interests of the listed company and all shareholders.

GWTong was listed on the Shenzhen Stock Exchange on 13 April 2017, with a public offering of 20.00 million new shares, at an issue price of 10.45 yuan per share. The total amount of proceeds raised was 20M yuan, and the net proceeds from raised funds were 209M yuan.

The underwriting sponsor of GWTong’s listing on A shares is Guoxin Securities Co., Ltd., with the sponsoring representatives being Xia Tao and Zhang Junjie. Total issuance expenses are 28.41M yuan, including underwriting and sponsoring fees of 2,000.00 million yuan.

In 2019, the company issued shares to specific investors through a non-public offering. Approved by the China Securities Regulatory Commission with the document ZJSX [2019] No. 976 and with approval from the Shenzhen Stock Exchange, the company issued 12,792,395 shares to specific investors through a non-public offering method, with the lead underwriter being 广发证券股份有限公司. The issue price was 54.72 yuan per share. As of 15 November 2019, the company had raised funds totaling 1.83M yuan (including issuance expenses of 182.79 million yuan that were payable but not yet paid). After deducting issuance expenses of 606.79 million yuan, the net proceeds from raised funds were 6.07M yuan. The net proceeds from the above fund-raising have been verified by the accounting firm Deloitte (special general partnership) in its capital verification report “验资报告” with reference number (2019) No. 441ZC0202.

GWTong’s total fund-raising in A shares is 909M yuan (excluding supporting fund-raising for purchasing assets).

GWTong was listed on the Hong Kong Stock Exchange on 22 October 2025. The final offer price of GWTong was HK$21.50. The total proceeds were HK$2,904.2 million. After deducting estimated listing expenses of HK$93.6 million payable calculated based on the final offer price, the net proceeds were HK$2,810.6 million.

On the first day of listing of GWTong’s H shares, it closed at HK$18.98, down 11.72%, falling below the issue price. The intraday low was HK$18.89.

The announcement of the final offer price and the allocation results shows that under the global offering, the number of shares offered was 135,080,200 H shares (subject to whether the over-allotment option is exercised), the Hong Kong offering shares were 13,508,200 H shares, and the international offering shares were 121,572,000 H shares (subject to whether the over-allotment option is exercised).

GWTong’s sole sponsor, sponsor, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager are Citic Securities (Hong Kong) Company Limited; the overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager are Guozheng International Securities (Hong Kong) Company Limited and CMB International Capital Corporation Limited; the joint bookrunner and joint lead manager are Agricultural Bank of China International Financial Services (Hong Kong) Limited, Huasheng Securities (International) Company Limited, and Futu Securities International (Hong Kong) Limited.

According to the announcement of the final offer price and the allocation results, GWTong’s cornerstone investors include: Qindao Gantong, Pacific Assets Management, China Taiping (Hong Kong), 广发基金管理, 广发国际, Ruihua Investment, Zhidu Investment, Zhang Xiaolei, Guotai Junan Securities Investment, and Junyi Hong Kong Fund.

(责任编辑：徐自立)

大量资讯、精准解读，尽在新浪财经APP