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Financial News Agency, March 2 (Reporter Chen Xixiao) After going through a trading suspension plan, there has been new progress in the change of control of Eurotech (603966.SH), and the company's shares will resume trading tomorrow.
The company issued an announcement this evening. The company's controlling shareholders and actual controllers Tao Fenghua and Jin Hongping signed a "Share Transfer Agreement" with Wuxi Xintou Qihang M&A Investment Partnership (referred to as "Xintou Qihang"). Tao Fenghua, Jin Hongping and persons acting in concert, Shanghai Zhixiang Enterprise Management Co., Ltd. (referred to as "Shanghai Zhixiang") signed a "Capital Increase Agreement of Shanghai Zhixiang Enterprise Management Co., Ltd." with Xintou Qihang.
According to the agreement, Xintou Qihang received 3.16% of the company's shares held by Tao Fenghua and 11.49% of the company's shares held by Jin Hongping, totaling 14.64% of the company's shares. At the same time, Xin Investment Qihang plans to transfer 50% of Shanghai Zhixiang’s equity held by Jin Hongping and simultaneously increase capital to Shanghai Zhixiang. After the capital increase, the controlling shareholder of Shanghai Zhixiang was changed to Xintou Qihang, which held 51% of the shares of Shanghai Zhixiang, thus indirectly controlling 11.75% of the company's shares and its corresponding voting rights. After the completion of this equity change, Xintou Qihang will control a total of 26.39% of the voting rights of the company's shares.
The announcement shows that the transfer price of this agreement is the price per share corresponding to the company's overall valuation of 5.5 billion yuan, which is 13.7958 yuan/share, and the total transaction price is 1.141 billion yuan. The funds involved in the payment will all come from Xin Investment Qihang's own and self-raised funds, of which the self-owned funds will account for no less than 50%, that is, no less than 571 million yuan.
Xin Investment Qihang is a merger and acquisition fund with a state-owned background in Xinwu District, Wuxi City. Its controlling shareholder is Wuxi Xinfa Group Co., Ltd. and its actual controller is the People’s Government of Wuxi Xinwu District. According to the announcement, Xintou Qihang promised that within 36 months after the equity change is completed, it and its related parties will not inject their own assets into Frantech. In addition, this transaction involves performance commitments. From 2025 to 2027, the transferor promises that Francotech's cumulative net profit attributable to the parent company will be no less than 510 million yuan.
Founded in 2007, Frantech is mainly engaged in the research and development, manufacturing, sales and service of intelligent material handling solutions. The company's main products include aerial handling robots, European cranes, cable cranes, electric hoists, and full life cycle services for heavy-duty handling systems. They are widely used in many fields such as energy and power, industrial production, warehousing and logistics, and major engineering construction.
In the past two years, Frantech has successively delivered projects such as automated cranes, brewing robots, and warehousing and logistics robots. With the implementation of multiple heavy-load handling projects, the company's "heavy-load" label has become increasingly clear. The company once stated on the interactive platform, "Compared with mature automation or robot products on the market, the company takes advantage of the crane scenario and focuses on the heavy-load scenario. Focusing on customer needs, we provide customers with valuable heavy-load handling solutions."
In terms of performance, in the first three quarters of 2025, the company achieved operating income of 1.86 billion yuan, a year-on-year increase of 31.26%; net profit attributable to shareholders of listed companies was 171 million yuan, a year-on-year increase of 38.87%.
