Jiejia Weichuang’s actual controller, Fang, plans to cash out 1.3 billion, having cashed out 560 million last year; A-shares raised 3.6 billion

China Economic Net, Beijing, March 31 — Jiejia Weichuang (300724.SZ) disclosed on the evening of the previous day its “Shareholder Inquiry Price Transfer Plan Book.”

Shareholders Zuo Guojun, Yu Zhong, Jiang Zeyu, and Changzhou Hengchuang Huiye Investment Partnership (Limited Partnership) (hereinafter referred to as “Hengchuang Huiye”) plan to participate in the inquiry-priced transfer of shares by pre-IPO shareholders. The total number of shares to be transferred is 11,765,400 shares, accounting for 3.38% of the company’s total share capital of 348,292,006 shares. The transfer is for the transferees’ own funding needs. This inquiry-priced transfer will not be conducted through block trade or on-market centralized bidding transactions and does not constitute a reduction of holdings in the secondary market. The shares acquired by the transferee through an inquiry-priced transfer may not be transferred within 6 months after the transfer. The transferee is an institutional investor with corresponding pricing capability and risk-bearing capacity.

The minimum inquiry-priced transfer price will be no lower than 70% of the average stock trading price over the 20 trading days prior to (including that day) the date of sending the subscription invitation letter (that is, March 30, 2026).

The specific proposed transfer details for this time are as follows: Zuo Guojun plans to transfer 1,800,000 shares, accounting for 0.52% of the company’s total share capital and 6.88% of the shares held; Yu Zhong plans to transfer 6,450,000 shares, accounting for 1.85% of the company’s total share capital and 25.00% of the shares held; Jiang Zeyu plans to transfer 3,470,000 shares, accounting for 1.00% of the company’s total share capital and 40.35% of the shares held; and Hengchuang Huiye plans to transfer 45,400 shares, accounting for 0.01% of the company’s total share capital and 7.80% of the shares held.

Based on the company’s closing price of 112.05 yuan on the previous trading day, Zuo Guojun, Yu Zhong, Jiang Zeyu, and Hengchuang Huiye are expected to reduce their holdings and cash out a total of approximately 1,318,313,070 yuan.

As of March 30, 2026, the number of pre-IPO shares held by the transferors and the proportion of Jiejia Weichuang’s total share capital are as follows: Zuo Guojun holds 26,162,715 shares, representing 7.51% of the company’s total share capital; Yu Zhong holds 25,802,432 shares, representing 7.41%; Jiang Zeyu holds 8,600,326 shares, representing 2.47%; and Hengchuang Huiye holds 582,389 shares, representing 0.17%.

The announcement states that Yu Zhong, Zuo Guojun, and Liang Meizhen are persons acting in concert. Together, the three directly and indirectly control 87,171,551 voting shares, representing 25.03% of the company’s total share capital, making them the company’s controlling shareholders and actual controller(s). Zuo Guojun is one of the company’s controlling shareholders and actual controllers, a shareholder holding more than 5%, and the chairman of the board. Yu Zhong is one of the company’s controlling shareholders and actual controllers, a shareholder holding more than 5%, the vice chairman of the board, a director, and the general manager. Jiang Zeyu is not a company director or senior executive. Liang Meizhen and Jiang Zeyu, who are one of the company’s controlling shareholders and actual controllers, have a parent-child relationship. The entire voting rights corresponding to the equity in the company held by Jiang Zeyu are exercised by Liang Meizhen. Hengchuang Huiye is an employee shareholding platform controlled by Yu Zhong and is a person acting in concert with Yu Zhong.

The announcement states that there is no scenario in this inquiry-priced transfer that could lead to a change in control of Jiejia Weichuang.

In 2025, Yu Zhong and his persons acting in concert and Jiang Zeyu had conducted share reductions, with a total cash-out amount of 556,267,252 yuan.

On September 4, 2025, the company disclosed the “Announcement on the Conclusion of the Share Reduction Plan by Controlling Shareholders, Actual Controllers, and Persons Acting in Concert.” It shows that Yu Zhong reduced holdings by 1,800,000 shares between July 8, 2025 and August 5, 2025 through centralized bidding, with an average reduction price of 61.57 yuan; and reduced holdings by 1,734,000 shares between July 8, 2025 and August 8, 2025 through block trading, with an average reduction price of 53.99 yuan. Hengchuang Huiye reduced holdings by 235,300 shares between June 12, 2025 and September 3, 2025 through centralized bidding, with an average reduction price of 73.96 yuan. Xiamen Hongxing Yuanye Investment Partnership (Limited Partnership) (abbreviated as “Hongxing Yuanye”) reduced holdings by 55,400 shares between August 7, 2025 and September 3, 2025 through centralized bidding, with an average reduction price of 94.11 yuan. Changzhou Dingjia Huiye Investment Partnership (Limited Partnership) (abbreviated as “Dingjia Huiye”) reduced holdings by 89,500 shares between July 8, 2025 and September 3, 2025 through centralized bidding, with an average reduction price of 71.88 yuan. Based on the average reduction prices, the total cash-out amount from the above share reductions is approximately 233,494,402 yuan.

On September 10, 2025, the company disclosed the “Announcement on the Expiration of the Share Reduction Plan Period for Persons Acting in Concert of Controlling Shareholders and Actual Controllers.” It shows that Jiang Zeyu reduced holdings by 968,000 shares between July 8, 2025 and August 4, 2025 through centralized bidding, with an average reduction price of 61.48 yuan; and reduced holdings by 4,657,000 shares between July 8, 2025 and September 9, 2025 through block trading, with an average reduction price of 56.53 yuan. Based on the average stock price during the reduction period, the total cash-out amount is approximately 322,772,850 yuan.

Since Jiejia Weichuang’s listing, it has completed a total of 2 rounds of fundraising (including the initial public offering), with total fundraising proceeds of 3.633 billion yuan.

Jiejia Weichuang was listed on the Shenzhen Stock Exchange’s ChiNext on August 10, 2018. It mainly engages in the R&D, production, and sales of solar photovoltaic cell equipment. The company’s IPO issuance comprised 80 million shares, issued at 14.16 yuan per share. The issuance cost per share was 1.06 yuan/share, with total issuance costs of 85.1964 million yuan. The sponsor was Guoxin Securities Co., Ltd.

The total amount of funds ultimately raised by Jiejia Weichuang was 1.133 billion yuan. After deducting issuance costs, the net proceeds from fundraising were 1.048 billion yuan, which were used for: the construction project of production lines for solar cell equipment manufacturing; the industrialization project of the crystal silicon solar cell intelligent manufacturing workshop system; the construction project of the R&D and testing center; the construction project of the marketing and service network; and the project for supplementing working capital.

An audit report on the verification of the company’s use of fundraising proceeds previously disclosed by Jiejia Weichuang shows that, with approval from the China Securities Regulatory Commission’s “Reply on Approving Shenzhen Jiejia Weichuang Energy Equipment Co., Ltd. to Issue Shares to Specific Targets for Registration” (CSRC License [2021] No. 674), the company issued 26,480,245 shares of RMB ordinary shares to specific targets in April 2021, at an issue price of 94.41 yuan per share. The total amount of fundraising proceeds was 2,499,999.99 ten thousand yuan? (RMB 249,999.99 million yuan), after deducting related issuance costs of RMB 18.7995 million yuan (excluding tax), the actual net amount of proceeds raised was RMB 248.120.04 million yuan (RMB 248,120.04 million yuan). All of the above funds were received in full on April 8, 2021, and were verified by Rongcheng Certified Public Accountants (special general partnership). The firm issued the “Capital Verification Report” Rongcheng Yanzi [2021] 361Z0037 on April 12, 2021.

(Responsible editor: Wei Jingtin)

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