Rui Finance Deng Rufei In March 2023, Changzhou PARKnSHOP Thin Film Technology Co., Ltd. (hereinafter referred to as "PANIC") submitted a prospectus to the Main Board of the Shanghai Stock Exchange. However, one year and three months later, the IPO application was withdrawn by the company .
PARKnSHOP, formerly known as PARKnSHOP Co., Ltd., was established in 2007 with a registered capital of 50 million yuan and is wholly owned by Baixing Group. Ten years later, PARKnSHOP Limited was restructured into PARKnSHOP Co., Ltd. with a total share capital of 150 million shares and a par value of 1 yuan per share. After the restructuring of
is completed, the largest shareholder of Baijia Era is Baixing Group, holding 69.33% of the shares, and the second largest shareholder is the employee stock ownership platform Huiwen Yatong, holding 6.67% of the shares. Hangqishang, another employee-owned platform, holds 2% of the shares.
During the reporting period, PARKnSHOP experienced two equity transfers and two capital increases.
In June 2020, Huiwen Yatong transferred 5 million shares of PARKnSHOP to Wanzhuo Investment at a price of 2.5 yuan per share, for a total of 12.5 million yuan. After the transfer was completed, Huiwen Asia's shareholding dropped to 3.33%, while Wanzhuo Investment held 3.33% of Parknjia Era. Based on the estimated transaction price, ParkNine's valuation is approximately 375 million yuan.
6 months later, PARKnSHOP welcomed six more investors. Jiaying Venture Capital, Sanya Jingtai, China Power Investment, Eden Investment, Sinopec Capital, and Li Pengyu subscribed for the company's new registered capital of 14.7346 million yuan, with a price of 255.4 million yuan. The registered capital of PARKnSHOP has thus increased to approximately 165 million yuan. According to a rough estimate, Parkana's valuation will rise to approximately 2.87 billion yuan after this capital increase. After the capital increase of
is completed, Baixing Group is still the largest shareholder of Parkian Era, with a shareholding ratio of 63.13%. Baixing Jinghua and Baixing Jingxiang are tied for the second largest shareholders, both holding 5.46%.
In October 2021, Li Pengyu transferred 0.07% of his equity to Baixing Group for a price of 2.135 million yuan. After the transfer was completed, Li Pengyu withdrew from PARKnSHOP, and Baixing Group's shareholding rose to 63.20%.
Two months later, Baijia Era received an additional capital increase of 21.9646 million yuan. The newly added registered capital came from Three Gorges Capital, Dongfang Electric , Jiangxia Green, Runxia Zhaoying, Yangtze Xingning, Jiupai Investment, Minmetals Yuanding , Jinxin Heyi, Sanya Jingtai, China Power Investment, Wang Jin, yaoxusheng (Yao Xusheng), Zhang Yubai subscribed, and the price was 440 million yuan. After the capital increase of
is completed, the registered capital of PARKnSHOP will be approximately 187 million yuan, with a valuation of approximately 3.74 billion yuan. When
started the war, the actual controller of PARKnSHOP signed a gambling agreement with investors. Some of the terms were terminated when PARKnSHOP submitted the form and received listing counseling, but some of the clauses will be withdrawn due to PARKnSHOP. The listing application was reinstated.
The bets that will be resumed include the actual controllers of Baijia Era and Sinopec Capital, Edu Investment, China Power Investment Corporation Three Gorges Capital, Dongfang Electric, Jiangxia Green, Runxia Zhaoying, Yangtze Xingning, Jiupai Investment, Minmetals Yuan Agreement signed by 10 investors of Ding and Jinxin Heyi.
As of the submission of the form, the controlling shareholder of Baijia Era is Baixing Group, holding 55.77% of the shares. Baixing Group is held by Ru Boxing and Ru Zhengwei with 51% and 49% respectively. These two people have a father-son relationship.
In addition, 2.68% of PARKnSHOP is directly held by Ru Boxing's daughter Ru Huaying, 2.41% is directly held by Ru Boxing's wife Yin Fengdi, and 2.41% is directly held by Ru Zhengwei's wife Du Guizhen. At the same time, Yin Fengdi is the actual controller of Baixing Jingxiang, and Du Guizhen is the actual controller of Baixing Jinghua, Huiwen Yatong, and Hangqi Rishang. These four platforms hold a total of 13.93% of the equity of Baijia Era.
What is interesting is that in the prospectus, Baijia Era only listed Ru Boxing and his wife and Ru Zhengwei as actual controllers, with a total holding of 74.5132%. However, Ru Huaying, who is a direct relative of Ru Boxing, was excluded. Outside the list of actual controllers. At the same time, Ru Huaying did not serve as a director or senior management member of PARKnSHOP.
In Baixing Group, Ru Huaying has not served as a senior executive. The company's chairman is Ru Zhengwei, the general manager is Du Guizhen, and the director is Ru Boxing.
Among the four actual controllers of Baijia Era, only Ru Zhengwei serves as a director and executive in the company, serving as chairman and general manager. Other directors and senior executives include Mao Qubo, who serves as director; Deng Erkang, who serves as director and financial director; Hu Zhi, who serves as director; Guan Xuehui, who serves as director and director of the supply chain management center.
related companies: PARKnSHOP
