Dafu Technology Relocates to Bengbu: Sun Shangchuan Can't Get Through in Shenzhen?

Recently, an announcement about the change of industrial and commercial registration information of listed companies has attracted attention.

On April 30th, the board of directors of Shenzhen Dafu Technology Co., Ltd. (hereinafter referred to as Dafu Technology) disclosed that the company name was changed from "Shenzhen Dafu Technology Co., Ltd." to "Dafu Technology (Anhui) Co., Ltd." and the registered address was changed from "Baoan District, Shenzhen" to "Bengbu City, Anhui Province". At present, the relevant industrial and commercial registration procedures have been completed and the business license issued by Bengbu Market Supervision Administration of Anhui Province has been obtained.

In this regard, Sun Shangchuan, chairman of Dafu Technology, said that Bengbu is his hometown and the birthplace of his idea of "entering the business". The headquarters and 5G base are located in Bengbu, which is a "grateful return" to Bengbu.

At this point, Dafu Technology became the fifth listed company in Bengbu.

Behind this is the financial connection between Dafu and Bengbu.

1995 Sun Shangchuan made mustard tuber in Bengbu and exported it to Japan. Six years later, although he has become a local agricultural demonstration enterprise, he also realized that the essential attribute of agriculture is still "relying on the sky to eat" and decided to find a way to "eat by wisdom".

Coincidentally, in 200 1 year, an Italian filter company named Frey Communication was going to set up a wholly-owned company in Shenzhen, and needed relevant supporting facilities. On June 4th of the same year, Dafu Technology was incorporated in Shenzhen, which is Frey's processed parts. That is, in that year, when Sun Shangchuan went to Japan to purchase CNC machine tools for the production of filter components, he deeply felt the restrictions, blockades and discrimination of foreign high technology on China.

In 2005, Dafu Technology sold 66% of its equity at a price of 65.438+0.2 billion yuan, established a joint venture with Kaiserlin, Germany, the world's largest filter manufacturer, and then supplied metal structural parts to Huawei. After the joint venture, Dafu Technology became a filter OEM. Then we started to produce filter screens and became one of Huawei's filter screen suppliers in 2006. In 2007, we will expand our business to completely independent filter design. In 2008, we bought back 66% of the shares from Kaiserling, Germany, and then the company entered the stage of rapid R&D and innovation.

On 20 10- 10, Dafu Technology landed on the Growth Enterprise Market, and directly or indirectly, during the two years of 201-2012, it acquired eight global peer companies in order to occupy the global commanding heights of 5G wireless transceivers.

Through the acquisition, it can basically undertake the manufacturing capacity of major filter and antenna companies in Europe and America, and the filter field has also completed the historical transformation from European and American monopoly to China monopoly. From 20 14 to the first half of 20 15, the share price of Dafu technology kept rising, and its market value once climbed to 40 billion yuan.

While the group is developing rapidly, there are also crises.

Until 20 16, in the face of the cold cycle of the industry, Dafu technology conducted a private placement in September of that year in order to cope with the cyclical fluctuations of the industry and help tide over the trough of the intergenerational transition from 4G to 5G. Being immersed in industrial manufacturing for many years, Sun Shang once admitted that he had made an almost fatal mistake and signed a "bottom-up agreement" with investors.

In 20 17, the overall economy was poor, and the stock price fell, but he still paid off his debts. In two years, the major shareholder paid nearly 3 billion yuan to investors, so the group fell into a liquidity crisis.

When he was in prison, Sun Shangchuan's hometown Bengbu never gave up his support. With the resolute promotion and unremitting efforts of local governments and regulatory authorities, the Group achieved a major innovation in China's bail-out mode and solved the debt crisis of the Group.

2019,65438+2, 1 1, the framework of the first rescue fund with a scale of about 501100 million yuan, which is jointly established by local governments, financial institutions (AMC), industrial capital and private equity funds, is determined, and this fund will be specially used to rescue the controlling shareholders of Dafu Technology.

Just past March 9, the fund was approved by the China Securities Regulatory Commission to be exempted from tender offer. It can be said that the liquidity crisis of Dafu Group is being lifted. On that day, Dafu Technology's share price rose by 5%.

Bengbu's rescue was undoubtedly a "timely rescue" for Dafu Technology at that time. How can Sun Shangchuan, the son of Bengbu, be indifferent?

On February 29th, 2020, Dafu Technology's 5G R&D and production base started in Bengbu, Anhui. The base focuses on building the core industrial chain of 5G communication equipment and serving global communication equipment vendors.

At the groundbreaking ceremony, Sun Shangchuan introduced that the first "5 1 1" should be realized within five years, that is, the total investment will be more than 5 billion yuan, the annual revenue will be more than 10 billion yuan, and the annual profit and tax will be more than 10 billion yuan, which will help Bengbu become an industrial capital with heavy equipment and hard technology. The second "5 1 1" will be realized within 10 year: five professional application platforms will be built, and 1 basic industry internet platform integrating "education, science and technology, culture, industry and health" will be built, and 1 listed enterprises will be realized.

He also said at the scene that as the helm of Dafu, I will never forget that when the enterprise was in danger, the leaders of Anhui Provincial Party Committee and Bengbu City lent a helping hand, ran in many ways and coordinated many times to help Dafu out of the predicament in time and gave Dafu a new life.

On April 30th, Dafu Technology released the 20 19 annual report.

According to the report: in 20 19, the company realized operating income of 2,337,566,465,438+0 yuan, up by 28.33% year-on-year; The net profit attributable to shareholders of listed companies was-354,565,438+07,352.05 yuan, which turned from profit to loss compared with the same period of last year.

The loss is 350 million yuan, which is the "report card" of Dafu Technology 20 19. No wonder when they announced that they would move to Bengbu, shareholders and investors were wailing and questioning whether Dafu Technology could "get along" in Shenzhen Bay.

In fact, Tianzhizao, the predecessor of Dafu Technology, started from Bengbu, Anhui. After tinkering, Sun Shangchuan chose Shenzhen as the new company headquarters, but Anhui Huaiyuan and Bengbu still have production bases of Dafu Technology.

Over the years, Dafu Technology has been associated with at least two platforms of Bengbu State-owned assets, namely Bengbu High-tech Investment Group Co., Ltd. (hereinafter referred to as "Bengbu High-tech Investment") and Bengbu City Investment Holdings Co., Ltd. (hereinafter referred to as "Bengbu City Investment"), regardless of industrial park land, government subsidies, government investment or private placement. The relationship between the two sides has long been cut off, and the reasons are still chaotic.

2065438+In July 2009, Bengbu Municipal People's Government issued a notice on "Opinions on Promoting the Development of Headquarters Economy (Trial)", which gave a series of support measures such as funds, venues, talents, listing and various policy declarations to qualified headquarters enterprises to settle down.

On February 29th, the on-site promotion meeting for the centralized commencement of the "Six Steady" major projects in Anhui Province was held in Bengbu High-tech Industrial Development Zone, Anhui Province. Among them, there are 8 major projects in Bengbu/kloc-0, with a total investment of 316438+0.2 billion yuan.

In the related report, it is described as follows: "A group of large enterprises and group headquarters originally located in coastal metropolises such as Beijing and Guangdong have recently settled in Bengbu, which has expanded the industrial cluster in Bengbu. The development of the express train has hung a stronger locomotive and accumulated a strong stamina. "

The new media of Huizhou merchants are concerned that besides Dafu Technology, which moved back to Bengbu, Changan Insurance, which is headquartered in Beijing, has also become one of the headquarters enterprises that moved back to Bengbu. The report mentioned:

"On September 29th, 2007, with the approval of China Insurance Regulatory Commission, Changan Insurance moved its headquarters from Beijing to Bengbu. The core reason is that Bengbu City and Bengbu High-tech Zone Management Committee "invested in bail", made scientific, decisive and efficient decisions, put themselves in their own shoes, really helped, overcame all difficulties and provided caring services, and finally got real money and sincere "headquarters return".

Planning and Review | Qi Fei

Edit | Yu Hongbo