Shareholders donate 40 million yuan to the listed company

Shareholders donated 40 million yuan to the listed company, which is more than 40 times his annual salary last year! He once taught on the education front and also served as the chairman and general manager of the company

On the evening of December 17th, Baoying Co., Ltd. (002047. SZ, stock price 3.13 yuan, market value 4.746 billion yuan) announced that it had received a "donation letter" from Gu Shaobo, the chairman of the eighth board of supervisors and shareholder of the company. In order to support the healthy and sustainable development of the company, Gu Shaobo proposed to donate RMB 40 million in cash to the company's account free of charge, and within 10 working days from the date of issuance of the "donation letter", pay the cash donated to the company's account.

This gift is a unilateral, unconditional, irrevocable gift made by Gu Shaobo. Last year, his annual salary was close to 1 million yuan. Based on this calculation, it would take more than 40 years to earn 40 million yuan.

Gu Shaobo has a rich resume

The reporter from the Daily Economic News noticed that Gu Shaobo was indeed generous this time. In addition, Gu Shaobo also holds 51100 shares of Baoying Stock, with a corresponding market value of 159900 yuan at the current price of 3.13 yuan per share.

It is worth mentioning that Gu Shaobo's donation this time is still in cash, and the cash donated will be paid to the company account within 10 working days from the date of issuance of the donation letter. According to the content of the donation letter, the source of the donated funds is legal, and the individual has full and effective disposal rights over the donated funds.

Gu Shaobo's donation behavior has won the favor of many investors. Investors left comments on the stock forum praising, such as "Touching the heavens and touching the earth! Thank you for the boldness of Mr. Gu" and "Salute to Mr. Gu! Wishing you a beautiful mood forever and all the best".

According to the annual report of Baoying Corporation last year, Gu Shaobo has a lot of personal experience in his resume.

Gu Shaobo was born in 1970 and worked as a teacher in the education sector. He later held positions in the Puning Public Security Bureau and the Shenzhen Public Security Bureau Traffic Police Bureau. He also served as the chairman, vice chairman, and general manager of a listed company.

Gu Shaobo has also been awarded honors such as "National Excellent Entrepreneur", "Excellent Entrepreneur of China Architecture and Decoration for 30 Years", and "Excellent Entrepreneur of Guangdong Province".

Gu Shaobo, Chairman of the Supervisory Board of Baoying Co., Ltd

Gu Shaobo is the younger brother of Gu Shaoming, the founder of Baoying Co., Ltd. After Gu Shaoming resigned as chairman of the company in 2015, Gu Shaobo took over as chairman. In January 2020, Zhuhai Aviation City Development Group Co., Ltd. became the new controlling shareholder of Baoying Co., Ltd. In June of the same year, the board of directors of Baoying Co., Ltd. was replaced, and Gu Shaobo no longer served as chairman.

As of the end of the third quarter of this year, the owner's equity of Baoying Co., Ltd. was negative

Baoying Shares stated that this donation is in line with the interests of the company and all shareholders. The donation of cash assets by the company this time is beneficial for enhancing the company's liquidity and improving its asset structure. According to relevant regulations such as the Enterprise Accounting Standards, this cash asset will be included in the company's capital reserve.

The reporter from the Daily Economic News noticed that as of September 30th this year, the ending balance of owner's equity of Baoying Co., Ltd. was -171 million yuan. According to the relevant provisions of the "New Regulations on Delisting" regarding mandatory delisting of financial assets, if a listed company's audited year-end net assets are negative for two consecutive years, its stocks will be delisted.

Lawyer Wang Huaitao from Shanghai Xingu Law Firm stated that this fund will be accounted for in the company's capital reserve rather than profits. According to accounting standards, donation income should be accounted for as "non operating income" and not directly included in profits. The increase of capital reserve has multiple benefits for the company: it can enhance the company's capital strength, improve market reputation, and also contribute to the company's future financing activities. In addition, capital reserves, as a part of owner's equity, will be included in the company's net assets, thereby increasing the company's net asset size.

From 2021 to 2023, Baoying Group suffered losses of 1.652 billion yuan, 2.188 billion yuan, and 971 million yuan respectively. In the first three quarters of this year, the company's net profit attributable to the parent company was -433 million yuan.

Since the beginning of this year, Baoying Co., Ltd. has been recovering funds and solving cash flow problems.

On the evening of November 29th, Baoying Group announced that it plans to sell 100% equity of its subsidiary Shenzhen Baoying Construction Group Co., Ltd. to its controlling shareholder Zhuhai Dahongqin Group Co., Ltd. in the traditional construction and decoration engineering field, which has weak growth and continuous losses due to strategic contraction. The confirmed transaction price by all parties is 788.3 million yuan, including a debt payment amount of 787.7 million yuan and a cash payment amount of 551800 yuan.

At the performance briefing in May 2024, Baoying Co., Ltd. stated that the company is continuously expanding its business in "new infrastructure" related fields such as photovoltaic buildings, prefabricated buildings, and intelligent buildings; At the same time, accelerate the company's transformation around emerging technologies such as new energy, new materials, and new technologies.