commercialarcadegamesforsale| The second shareholder of Yulong Co., Ltd. was issued a warning letter to reduce its holdings by more than 1%, and the company's net profit hit a new high last year.

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Interface News reporter | Niu Qichang

The cumulative reduction rate reached 1%, but failed to fulfill the letter obligation in time.CommercialarcadegamesforsaleAs a result, the listed company did not disclose the change of the equity until more than a year later.CommercialarcadegamesforsaleYulong shares (601028Commercialarcadegamesforsale(SH) two shareholders Hainan Houai Technology Co., Ltd. (hereinafter referred to as "Hainan Houai") was issued a warning letter by Shandong Securities Supervision Bureau.

On the evening of May 13, Yulong announced that Hainan Houai, the company's shareholder, recently received a "decision on taking warning letter measures against Hainan Houai Technology Co., Ltd." issued by Shandong Securities Regulatory Bureau of China Securities Regulatory Commission (hereinafter referred to as Shandong Securities Regulatory Bureau).

Interface News noted that as a shareholder holding more than 5% of Yulong shares, Hainan Houai reduced its stake in Yulong shares through block trading from January 18, 2023 to February 17, 2023, with a shareholding ratio of 19%.Commercialarcadegamesforsale.01% decreased to 17.22%. During this period, Hainan Houai shares changed by 1.28% on February 16, 2023, and the share price of Yulong shares fell 3.48% on that day.

The Shandong Securities Regulatory Bureau pointed out that Hainan Houai failed to fulfill its information disclosure obligations in time when it reduced its holdings of Yulong shares by 1%, resulting in Yulong shares not announcing the above-mentioned changes in rights and interests until April 23, 2024. The bank violated the relevant provisions of the measures for the Administration of acquisitions of listed companies and decided to take administrative regulatory measures to issue warning letters to them, which were recorded in the integrity file database of the securities and futures market.

On April 23, according to the "suggestive announcement on the change of shareholders' Rights and interests up to 1%" disclosed by Yulong shares, when the company inquired about the register of shareholders through the PROP integrated business terminal of China Securities Registration and Clearing Co., Ltd., in the process of compiling the periodic report, the company found that the shareholders' holdings in Hainan had decreased by 14.05 million shares. It reduced a total of 14.05 million shares of the company through bulk transactions on January 18, February 15, February 16 and February 17, 2023, respectively, accounting for 1.794% of the company's total share capital.

According to the provisions of the measures for the Administration of acquisition of listed companies, when the shares owned by investors and their joint actors reach 5% of the issued shares of a listed company, for every 1% increase or decrease in the proportion of the issued shares of the listed company, the listed company shall be notified and announced the day after the fact occurs.

Although Yulong stressed that Hainan Houai's reduction of the company's shares through bulk trading does not touch on the tender offer, does not involve the report on the change of rights and interests disclosed by the information disclosure obligor, and will not have a significant impact on the corporate governance structure and sustainable operation, it will not lead to changes in the company's controlling shareholders and actual controllers, and Hainan Houai apologizes for not disclosing the reduction in time. But the violation is still detected and warned by regulators.

According to public information, Yulong, headquartered in Jinan, Shandong Province, is mainly engaged in gold and precious metals mining and commodity trading business. By the end of the first quarter of this year, the actual controller, the State-owned assets Supervision and Administration Commission of Jinan High-tech Zone, held 29.38% of the shares.

Hainan Houai, which was issued the warning letter, currently holds 17.22% of the shares. The company was established in May 2019 and is mainly engaged in technology development in the field of computer science and technology, information technology, supply chain management, enterprise management consulting, and so on. Through Tianyancha APP equity penetration, Lai Yuchen and Xie Yutong held 55% and 45% shares through Shanghai Houli Industrial Co., Ltd., respectively.

It is worth mentioning that Yulong shares have changed ownership many times in recent years.

According to the interface news, on June 10, 2019, Zhihe Technology, the former controlling shareholder of Yulong shares, signed the share transfer Agreement with Hainan Houai, Ningbo Huanxi Industrial Co., Ltd., Lin Mingqing and Wang Xiang respectively. Zhihe Technology transferred its 392 million shares of the company to Hainan Houai, Ningbo Huanxi Industrial Co., Ltd., Lin Mingqing and Wang Xiangyu. The transferred shares account for 50.00% of the total share capital of the company. As a result, Hainan Houai holds 204 million shares of the company, accounting for 26.00% of the company's total share capital, making it the new controlling shareholder.

Half a year later, the State-owned assets Supervision and Administration Commission of Jinan High-tech Zone announced the "entry" of Yulong shares. On January 19, 2020, Zhihe Technology and Jinan High-tech Holdings Group Co., Ltd. (hereinafter referred to as "Jigao Holdings") signed a "share transfer Agreement" to transfer the remaining 24% of its shareholding to Jigao Holdings.

On July 23, 2021, Hainan Houai signed a share transfer Agreement with Jigao Holdings. Hainan Houai plans to transfer its 39.15 million shares in the company, accounting for 5% of the company's total share capital, to Jigao Holdings at a transfer price of 16.70 yuan per share. As a result, Hainan Houai still holds 164 million shares of the listed company, accounting for 21% of the total share capital of the listed company, ranking the second largest shareholder.

Interface News noted that after retreating to second-largest shareholder, Hainan Houai continued to reduce its holdings of 15.5934 million shares through block trading in August 2022, further reducing its shareholding from 21 per cent to 19.01 per cent.

From the perspective of performance, in 2023, thanks to factors such as the rise in international gold prices and the substantial increase in production and sales of gold mining business, Yulong's net profit increased by 52.90% to 446 million yuan in the case of a 77.83% year-on-year drop in revenue, setting a new high since the company went public.

According to the Debon Securities report, the annual gold sales unit price of Yulong shares is 445 yuan / g, an increase of 6.1% over 2022, and the unit cost of sales is 211 yuan / g, a decrease of 5.2% compared with 2022. In the case of rising prices and lower unit cost due to volume, the gross profit per gold unit is 235 yuan / g, an increase of 18.8% over the same period last year; the gross profit of gold mining business is 52.70%, an increase of 5.63 percentage points over 2022 The net interest rate of gold business is 31.4%, and the net profit per gram is 140 yuan / g.