The change of the actual controller of Funeng Technology (688567) ushered in the latest progress. On the evening of January 1, 2025, the company disclosed that the actual controller and its persons acting in concert intend to transfer the share agreement, and if it is finally reached, it will lead to a change in the controlling shareholder and actual controller of Funeng Technology. After application, the trading of A shares of Funeng Technology will be suspended from the morning of January 2.

The reporter combed and found that Funeng Technology had planned to transfer control to Guangzhou Industrial Investment Holding Group Co., Ltd. (hereinafter referred to as "Guangzhou Industrial Control Group"), a subsidiary of the Guangzhou Municipal Government, in 2023, but the relevant plan was finally terminated. According to the company's recent relevant announcements, Guangzhou Industrial Control Group has been promoting the work of seeking the status of the actual controller of Funeng Technology.

Trading will be suspended from January 2

On the evening of January 1, Funeng Technology announced that on December 31, 2024, it received a notice from its controlling shareholder, Farasis Energy (Asia Pacific) Limited (hereinafter referred to as "Hong Kong Funeng") and its concerted actor Ganzhou Invert Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as "Ganzhou Incom"), and learned that Hong Kong Funeng and Ganzhou InnoVent intend to transfer part of the company's shares by agreement.

If the above matters are finally reached, it will lead to a change in the controlling shareholder and actual controller of the company. In view of the significant uncertainty in this matter, in order to ensure fair information disclosure, safeguard the interests of investors, and avoid abnormal fluctuations in the company's stock price, upon the company's application, the company's A-share shares will be suspended from the opening of the market on the morning of January 2, 2025, and the suspension time is expected to be no more than two trading days.

Funeng Technology has not disclosed the party of the share transfer transaction. However, the reporter noticed that in December 2024, Funeng Technology announced that Shenzhen Anyan, a shareholder holding more than 5% of the shares, plans to transfer part of the company's shares held by it to Guangzhou Industrial Control Capital Management Co., Ltd. (hereinafter referred to as "Industrial Control Capital") or its affiliates through block trading, with the number of transferred shares not exceeding 24.4421 million shares, accounting for no more than 2% of the company's total share capital.

Funeng Technology specifically mentioned in the announcement that according to the "Communication Letter" issued by Industrial Control Capital to the company, Industrial Control Capital carried out this transaction to support Guangzhou Industrial Control Group to continue to seek the status of the actual controller of Funeng Technology; Based on the full recognition of the company's business and value and the confidence in the sustainable development of the future, Guangzhou Industrial Control Group will continue to seek the status of the actual controller of Funeng Technology in the future and support the development of Funeng Technology for a long time.

Previously, the transfer of control was planned

According to the

data of the third quarter report of Funeng Technology in 2024, as of the end of September of that year, Hong Kong Funeng held 19.87% of the shares, making it the largest shareholder of the company, while Ganzhou Innobank was not among the top ten shareholders. Guangzhou Industrial Control Group, the third largest shareholder of Funeng Technology, and Guangzhou Chuangxing New Energy Investment Partnership (Limited Partnership), the fifth largest shareholder, are acting in concert, with a total shareholding ratio of 7.65%; The fourth largest shareholder, Guangzhou Industrial Investment Holding Group Co., Ltd., holds 3.8% of the shares, and it and Guangzhou Industrial Control Group are both enterprises controlled by the Guangzhou Municipal Government.

In fact, as early as July 2023, Funeng Technology announced that the controlling shareholder's planning involved the change of control of the company, and disclosed in August of that year that the actual controllers of Hong Kong Funeng, Ganzhou Incom, and Funeng Technology signed a share transfer agreement with Guangzhou Industrial Control Group and its controlled Guangzhou Chuangxing, and the company's controlling shareholder may be changed to Guangzhou Industrial Control Group after the completion of the change of rights, and the actual controller may be changed to the Guangzhou Municipal People's Government.

However, in November of that year, Funeng Technology announced that the relevant parties terminated the share transfer agreement, and said that based on the full recognition of the company's business and value by Guangzhou Industrial Control Group and Guangzhou Chuangxing and their confidence in sustainable development in the future, the parties will continue to conduct friendly consultations on future cooperation methods, and intend to promote Guangzhou Industrial Control Group to seek the status of the actual controller of Funeng Technology through private placement and other means, and continue to support the development of Funeng Technology.

Loss reduction in the first three quarters

According to public information, Funeng Technology is a comprehensive energy solution provider, mainly engaged in the research and development, production and sales of power batteries for new energy vehicles and vehicle battery systems, energy storage batteries and systems, and emerging business products. The company's products have long focused on ternary power batteries, and at the same time actively expanded the cells, modules and battery packs of lithium iron phosphate, sodium-ion and other power batteries, and has become one of the world's leading companies in ternary soft-pack power batteries.

In the field of solid-state batteries, which has attracted much attention from the market, Funeng Technology recently said in a survey that the first-generation semi-solid-state battery developed by the company has been mass-produced and installed in 2022 and has been recognized by Dongfeng, GAC, Geely and other customers; The second generation of semi-solid-state batteries is about to be mass-produced; The third generation of semi-solid-state batteries is under development. In terms of all-solid-state batteries, Funeng Technology said that the company's sulfide and composite routes have made great breakthroughs. Among them, sulfide all-solid-state batteries have entered the stage of product industrialization and development.

In the first three quarters of 2024, Funeng Technology achieved operating income of 9.212 billion yuan, a year-on-year decrease of 17.98%; The net profit attributable to the parent company was -318 million yuan, a significant decrease from -1.563 billion yuan in the same period of 2023.