Omar announced the latest changes in equity, TCL appliance group further holdings Omar.

According to the announcement, from January 29, 2021 to February 4, 2021, TCL appliance group further increased its holding of 54205592 shares of the listed company, accounting for 5% of the total share capital of the listed company, through centralized bidding trading and block trading on the stock exchange. After the equity change, TCL appliance group and its concerted action, new Rongze, hold 108411075 shares of the listed company, accounting for 10% of the total share capital of the listed company.

At present, among the top ten shares of Omar electric, the top two shareholders hold more than 10%, which are Tibet RONGTONG Zhongjin Investment Co., Ltd. (12.44%) and chairman Zhao Guodong (12.31%).

In addition, the announcement also mentioned that TCL appliance group participated in the court’s online judicial auction on January 14, 2021, and successfully won 40474374 shares of the listed company. However, TCL appliance group has yet to obtain the auction ruling issued by the judicial authorities for the shares of the listed company obtained from the above auction. Before that, the equity of the actual controller of Omar electric was auctioned by judicial auction.

Analysis of the reasons behind TCL's holding of Omar

At the same time, TCL home appliance group also plans to further increase the shares of Listed Companies in the next 12 months.

It is worth noting that since October 2020, Omar Electric has been promoting a fixed increase plan of 1.255 billion yuan. If the fixed increase is completed, Beihai Qingyun holds 23.08% of the shares of Omar electric, Zhao Guodong and RONGTONG Zhongjin hold 19.04% of the shares, Beihai Qingyun becomes the controlling shareholder of Omar electric, and Zhang Gong becomes the actual controller.

With the further increase of TCL appliance group, it needs to be observed who is the ultimate real controller of Omar appliance.

Why should TCL increase its holdings? In the view of the industry, TCL appliance group’s move is to strengthen its white power business.

On the one hand, in many years of development, TCL white TV is its business short board. According to the data of foresight Industry Research Institute, in the domestic sales proportion of refrigerator brands in 2020, TCL accounts for 3.34%, ranking fifth. Compared with black TV, TCL TV sales have entered the top three in the world, and the gap can be seen.

Although Omar Electric’s refrigerator business is relatively low in the domestic market, it performs well in the export market, and is known as the “refrigerator export champion”. According to the statistics of China Customs and industry online, from 2003 to 2020, Omar refrigerator’s global cumulative sales volume exceeds 85 million units. It is understood that Omar refrigerator’s annual sales volume will exceed 10 million units in 2020, which is known as the fifth largest refrigerator in the world Box manufacturing enterprises, therefore, can also open the refrigerator overseas market for TCL.

On the other hand, in recent years, under the “competition” with mobile phones and computers, black power companies have been squeezed and their profits are getting thinner and thinner. However, white power companies are different from black power companies in that they have stronger functional properties, more vigorous demand and more profits.

In the previous major restructuring of TCL, TCL home appliance group and mobile phone related businesses were separated from the listed company TCL technology, and then the mobile phone was merged into TCL Electronics (a Hong Kong listed company) which is mainly engaged in TV. Now TCL home appliance group has increased its holding of Omar electric appliances for many times. If it finally wins the controlling interest, maybe TCL’s white power business will be integrated and restructured with it in the future.

Therefore, it is easy to understand that TCL wants to continue to strengthen the white power business. TCL itself has planned to expand and strengthen the white power business. Moreover, this is also the time for “bottom hunting”. For Omar electric, it urgently needs rescuers to help the company get rid of the debt crisis.

Looking back, in 2002, Cai Shier founded Omar electric, and landed in the capital market in 2012. In the early stage, the company’s main business was refrigerators, mainly engaged in domestic OBM independent brand, domestic ODM and overseas ODM business. At present, the main household appliances are refrigerators and wine cabinets, accounting for 99.45% of the revenue.

The turning point of Omar electric occurred in 2015. The controlling shareholder of Omar electric changed, and Zhao Guodong, a senior person in the financial industry, joined the company as the actual controller. The company also began to transform to finance. It transferred to the Internet financial business by means of share transfer and fixed increase, forming two business segments of financial technology and home power.

However, the transformation was not successful. In 2018, with the P2P storm, Omar Electric’s Internet finance business also encountered risks, resulting in a substantial loss. Therefore, Omar electric began to sell assets and equity from 2019.

At the end of 2019, Omar electric transferred no more than 49% of the equity of its wholly-owned subsidiary Omar refrigerator, and reached a preliminary transfer intention with Zhongshan private development special fund and eight natural persons such as Cai shi’er; on the other hand, it continued to sell its financial related companies. The latest progress is to transfer Tibet WANGJIN Innovation Investment Co., Ltd., a wholly-owned subsidiary, to Shenzhen Changhe for a consideration of 119 million yuan Investment Co., Ltd. also received a letter of concern from Shenzhen Stock Exchange.

According to the financial report, Omar Electric is expected to turn from profit to loss in 2020, with a loss of 74.888-150 million yuan in 2020 and a profit of more than 50 million yuan in 2019. The operating revenue is expected to be between 7 billion yuan and 10.486 billion yuan, and the revenue in 2019 will be 7.39 billion yuan.

After wandering between the manufacturing industry and the financial circle, Omar’s high-quality assets are still refrigerators. Now it is speeding up the de financialization. It remains to be seen who will really take charge of Omar in the end and whether it can be saved.

At the close of February 5, Omar electric rose by 4.96%, with a market value of 6.418 billion yuan; TCL technology fell by 10%, with a market value of 118.7 billion yuan; TCL electronics fell by 5.49%, with a market value of 18.217 billion Hong Kong dollars.

As for TCL technology’s limit drop today, on the news side, there are recent reports about the explosion of the upstream glass factory and TCL’s assessment of moving Samsung’s overseas LCD production line to China.

On January 29, a furnace explosion occurred in the AGC glass factory in Guiwei, South Korea. The display Research Office of trendforce Jibang consulting said that although the impact of this incident on the overall glass substrate supply only accounts for less than 1%, under the current situation of high panel demand, small changes in the parts end may have an impact on the price, and it can not be ruled out that this accident will make the panel price rise The possibility of a certain degree of price support. As it is necessary to schedule and allocate capacity after the furnace is damaged, the supply gap caused by the expected event will be mainly affected in the second quarter.

When answering questions from investors on the interactive platform, TCL technology said that AGC has always been an important strategic partner of TCL Huaxing, and the glass supply of TCL Huaxing is strategically supported and guaranteed by AGC. The AGC South Korea glass factory accident to a certain extent brought the upstream supply of core materials and the overall operating rate of the panel industry down, reducing the overall supply of panels. However, AGC’s capacity supply to TCL Huaxing will not be affected. The T1, T2 and T6 production lines will continue to be full of sales and production. The T7 production line is climbing as planned, and the company’s scale advantage will continue to increase.

At the same time, TCL technology said that the company has never carried out evaluation on overseas LCD in production or out of production line equipment. At present, TCL Huaxing’s production lines continue to be full of production and sales, and T7 project is climbing mass production as planned; the high-end upgrading of TV products is accelerated, and the expansion of commercial display, pen TV, monitor and other categories is carried out as scheduled; at the same time, the commercialization process of printing OLED, miniled and other next-generation display technologies is accelerated.

Editor in charge: Tzh

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