Since 2021, some ceramic companies have been making continuous moves around listings: from the beginning of the year when Asia announced the launch of its IPO journey to now, large ceramic companies such as Marco Polo, Wrigley, and New Pearl have all started the listing process. The capital market in the ceramic industry is turbulent, and ceramic companies are investing and expanding one after another. Up to now, Yingpai Group has successfully entered the A-share market by leveraging the introduction curve of private capital Tianan New Materials. Wrigley Home Furnishing has submitted a prospectus to the Shenzhen Stock Exchange. Marco Polo has completed the counseling registration at the Guangdong Securities Regulatory Bureau. Xinzhu has launched IPO listing counseling. Cheng also held an IPO kick-off meeting...
With so many companies announcing their listings, it doesn’t matter whether they can succeed or not. Where is their confidence?
New Pearl
On September 30, the China Securities Regulatory Commission issued the "Announcement on the Acceptance of Guidance Filing and Registration of New Pearl Group Co., Ltd." showing that New Pearl Group Co., Ltd. has registered with the Guangdong Securities Regulatory Bureau on September 30, 2021. The tutoring registration has been completed, and the tutoring institution is Shenwan Hongyuan. This means that New Pearl has officially embarked on the journey to IPO listing.
In fact, a series of major moves by New Pearl since the beginning of this year have revealed its intention to enter the capital market, which has attracted widespread attention in the industry.
On February 23, Xinmingzhu held the group’s 2021 New Year work meeting with the theme of “Gathering the wisdom of thousands of people and sprinting towards tens of billions”. At the meeting, New Pearl Chairman Ye Delin proposed the goal and implementation ideas of “sprinting towards tens of billions” in 2021.
On August 8, the founding meeting and the first general meeting of shareholders of New Pearl Group Co., Ltd. were held. The meeting reviewed and approved 19 proposals related to the preparation of New Pearl Group Co., Ltd., and unanimously agreed to the overall change of the establishment of the new Pearl Group Co., Ltd. Mingzhu Group Co., Ltd.
On August 12, New Pearl held a mid-year work summary meeting with the theme of "Sprinting to 10 billion, the mission must be achieved". Ye Delin once again emphasized the two goals of sprinting to 10 billion and going public.
On September 9, New Pearl completed the joint-stock reform, the company name was officially changed to "New Pearl Group Co., Ltd.", the registered capital increased to 1.28 billion yuan, and the listing journey took another step forward.
On September 10, New Pearl signed a contract with the People's Government of Yongchuan District, Chongqing to build a "Southwest Green Intelligent Production Base", expanding its investment territory again.
On September 30, New Pearl Group Co., Ltd. registered with the Guangdong Securities Regulatory Bureau for guidance.
As a well-deserved "ceramics aircraft carrier" enterprise in the industry, Xinmingzhu currently has four advanced ceramics production bases in Sanshui, Foshan, Lubu, Zhaoqing, Gao'an, Jiangxi, and Xishui, Hubei, with a total area of nearly 9,000 acres. Data from the "2020 Ceramics Industry Long March - National Ceramic Tile Production Capacity Survey" show that New Pearl has become the largest ceramic enterprise in the country in terms of annual ceramic tile production capacity with 44 production lines and a total annual production capacity of 220 million square meters. The "Southwest Green Intelligent Production Base" planned to be deployed in Yongchuan, Chongqing this year is New Pearl's fifth production base. After completion, its annual production capacity will be raised to a new height.
Marco Polo
On September 13, the official website of the China Securities Regulatory Commission announced that Marco Polo Holdings Co., Ltd. had completed the counseling registration at the Guangdong Securities Regulatory Bureau on September 12. The counseling agency was China Merchants Securities. Previously, Marco Polo founder Huang Jianping became the actual controller of Stone shares by acquiring shares of listed company Stone shares. For a while, the industry speculated that Marco Polo might plan to use Stone shares to go public through a backdoor listing. Unexpectedly, Marco Polo directly chose an IPO. .
How did the incident develop?
On July 24, Stone Co., Ltd. issued an announcement stating that Guangdong Weide Industrial Investment Co., Ltd. planned to acquire 10.50% of the total share capital of Stone Co., Ltd. at a price of 6.60 yuan per share.
From July 28 to August 26, when the above-mentioned tender offer period expires, the shares accepted by Weide Industrial will account for approximately 9.26% of the total share capital of Sitong, plus the 11% previously owned by Weide Industrial The total shares amounted to 20.26%, making Weide Industrial the largest shareholder and controlling shareholder of Sitong.
According to the data, the legal representative and actual controller of Weide Industrial is Huang Jianping, and the equity structure is Huang Jianping accounting for 72.50%, Xie Yuezeng accounting for 17.75%, and Deng Jianhua accounting for 9.75%. The three are persons acting in concert with each other. Before the tender offer, the three held a total of 50,355,000 Sitong shares, accounting for 15.74% of the total share capital.
On September 11, Stone Shares issued an announcement stating that Weide Industrial controlled by Huang Jianping and persons acting in concert with Huang Jianping collectively held 36.00% of the equity of Stone Shares.The voting rights of Sitong Shares have exceeded one-third, and it has become the actual controller of Sitong Shares.
This "tender offer" incident directly triggered speculation that Marco Polo would backdoor Sitong's shares to be listed. However, what is unexpected is that Marco Polo chose an independent IPO.
It is reported that Marco Polo has already made frequent moves to enter the capital market. It began to change shareholders and registered capital on November 27, 2020; in July this year, preparations for joint-stock reform began, and the company name was changed to Marco Polo Holdings Co., Ltd., and the legal representative was Xie Yuezeng Changed to Huang Jianping, the senior management personnel have undergone major changes; his address also changed on September 7, which is consistent with the address for tutoring registration.
As the first enterprise in the ceramic industry with revenue exceeding 10 billion - a brand of Weimei Group, Marco Polo is fully confident in its IPO listing. Data show that Weimei Group has deployed five major ceramic production bases in Dongguan, Qingyuan, Jiangxi, Chongqing and other regions. With 50 production lines and a huge annual production capacity of 218 million square meters, it ranks as the second largest ceramic enterprise in the country in ceramic tile production capacity.
Wrigley Home
On July 1, Wrigley Home submitted a prospectus to the main board of the Shenzhen Stock Exchange, which means that Wrigley Home has completed the guidance, filing and registration to enter the next process of IPO listing. It was learned from the official website of the China Securities Regulatory Commission that Wrigley Home Furnishings had already completed the guidance registration with the Guangdong Securities Regulatory Bureau on November 4 last year, with CITIC Securities acting as the sponsor.
The prospectus shows that from 2018 to 2020, Wrigley Home’s operating income was 6.81 billion yuan, 6.658 billion yuan and 6.502 billion yuan respectively, and the net profits attributable to shareholders of the parent company were 197 million yuan, 556 million yuan and 589 million yuan respectively. Yuan. In the past three years, Wrigley Home Furnishing's revenue has shown negative growth, basically stable but slightly declining, while net profit has steadily increased. The gross profit margins of the main business in the past three years were 24.45%, 32.09% and 31.63% respectively, showing an overall growth trend.
Wrigley Home Furnishings mainly sells to the outside world through the distribution model. In each reporting period, the proportion of revenue from the distribution model to the main business revenue was 94.77%, 95.98% and 94.39% respectively. As of December 31, 2020, the company had a total of 1,746 dealers and a total of 6,197 distributors.There are a total of 10,239 store outlets. Its brands include ARROW, FAENZA, and ANNWA, and its product categories cover a full range of home products such as sanitary ceramics, faucet hardware, bathroom furniture, ceramic tiles, bathtubs, and custom cabinets.
Wrigley Home Furnishings will issue no more than 98,996,717 shares this time and plans to raise 1.809 billion yuan. Mainly used for technological transformation of smart home product production capacity; faucet and shower production base; marketing service network upgrade and other projects.
Eagle Brand Group
On February 1, the listed company Tianan New Materials issued an announcement stating that it planned to participate in the bundled transfer of its wholly-owned subsidiaries "Foshan Shiwan Yingpai Ceramics Co., Ltd." and "Heyuan Dongyuan Yingpai Ceramics Co., Ltd. Company", "Foshan Yingpai Technology Co., Ltd." and "Foshan Yingpai Ceramics Trading Co., Ltd." each have 66% equity;
On March 16, the signing ceremony for the mixed ownership reform of Guangdong Yingpai Ceramics Group Co., Ltd. was grandly held in Yingchuang Park, Foshan City. Tianan New Materials and Yingpai Group signed a Property Rights Transaction Contract with effective conditions for this transaction. 》;
On August 16, Guangdong Eagle Brand Industrial Co., Ltd. was officially established, kicking off the "Eagle Vision to Build the Future";
On September 2, the equity transfer between Tianan New Materials and Yingpai Group was officially completed. Tianan New Materials became the controlling shareholder of Shiwan Yingpai, Yingpai Technology, Yingpai Trading and Dongyuan Yingpai.
At this point, this property rights transaction that has caused widespread concern and speculation in the industry has settled. Yingpai Group will also work with Tianan New Materials to promote mixed ownership reform and achieve large-scale and rapid development. It is reported that the announcement of the completion of the asset transfer between Tianan New Materials and Eagle Brand mentioned that after the transaction with Eagle Brand is completed, Tianan New Materials will place the underlying assets of the high-quality building ceramics sector on the basis of the original home decoration and finishing materials business. It will help the company build a large home decoration industry segment based on its competitiveness in the field of home decoration and finishing materials.
Recently, Yingpai Group has gradually announced its development direction after cooperation with Tianan New Materials. existAt the regional core dealer meeting held by Eagle Ceramics on September 13, Eagle Group announced that it has officially entered the field of wall and floor experts, opening a new track for pan-home furnishings. According to the business layout and channel characteristics of different dealers, Eagle Group has launched three store models: "Eagle Wall and Floor Expert", "Eagle Lifestyle Hall" and "Eagle Renovation Home". It will also build an Eagle WELL at its headquarters Life Center, and launched a new overall home design brand "Eagle Life"... It must be said that this series of actions has refreshed the industry's inherent understanding of Eagle Life and will bring a new growth model to it.
In order to seek development, four ceramic companies, New Pearl, Marco Polo, Wrigley Home Furnishings, and Eagle Brand Group, are either "queuing up for listing" or using the curve of listed companies to enter A-shares, as well as Shuncheng, Asia, and Dajiulu, etc. Plan to enter the capital market. As the scale of the home furnishing industry continues to grow, more and more ceramic companies will seek to go public. Statistics show that it took Mona Lisa nearly 2 years and 2 months from counseling registration to listing; Dongpeng Holdings took nearly 3 years and 7 months from counseling registration to listing.
So in the next five years, which ceramic companies do you think can successfully break through and ring the bell to go public?
(Author: Sitao)
