Zhejiang Longsheng (600352): Placards Wolong Real Estate Intends To Continue To Increase 3% To 5%

Wolong real estate September 16th evening announcement, Zhejiang Longsheng from August 19th to September 16th to increase its holdings of 35 million 56 thousand shares. Before the change of interest, Zhejiang Longsheng did not hold Wolong real estate shares. After the change of interest, Zhejiang Longsheng held 5%.

In addition, Zhejiang Longsheng plans to increase its holdings of Wolong real estate shares by no less than 3% in the next 12 months, no more than 5% (including 5%).

From the provinces, Zhejiang Longsheng and Wolong real estate are listed companies in Shaoxing, Zhejiang. Among them, the office address of Zhejiang Longsheng is Shangyu District Road Town, Shaoxing City, Zhejiang province. The office address of Wolong real estate is No. 1801 Renmin Road, Shangyu District, Shaoxing City, Zhejiang province.

From the industry, Wolong real estate is engaged in the main business of real estate development and sales, the company's main projects are concentrated in Wuhan, Qingyuan, Shaoxing three areas. Wolong real estate 2019 semi annual report shows that the Qingyuan Wuzhou Bo Wen Yuan, Wuhan Dongfang County, Shaoxing Silver Lake and Shangyu Dongfang County are selling well. Wolong real estate's controlling shareholder Wolong property currently holds 314 million shares of the company, accounting for 44.80% of the total share capital of the company.

As a brand name, Zhejiang Longsheng main dyestuff industry has been developing rapidly for sixteen years after the listing of IPO. At present, the textile chemicals business mainly based on dyes and auxiliaries and intermediates, mainly intermediates of two benzene and resorcinol, have become the leading companies in the world. Ruan Shuilong, Ruan Weixiang and Xiang Zhifeng jointly hold 25.92% shares of Zhejiang Longsheng as the actual controllers of listed companies. In addition to holding Wolong real estate shares, Zhejiang Longsheng does not own more than 5% of other listed companies.

One is the leading enterprises in the domestic dyestuff industry, the other is the listed real estate companies. The main businesses of the two listed companies do not have much intersection, but Wolong real estate attracts Zhejiang Longsheng placards. Wolong real estate in 2017 and 2018 achieved net profit of 315 million yuan and 577 million yuan respectively, representing an increase of 295.54% and 83.23% respectively. In the first half of this year, Wolong real estate realized net profit of 225 million yuan, an increase of 22.75% over the same period last year. Perhaps it is precisely because the Wolong real estate business performance in recent years is quite eye-catching, it attracted the attention of Zhejiang Longsheng, Shaoxing, Shangyu.

In this regard, Zhejiang Longsheng said that the change of interest is Zhejiang Longsheng based on the recognition of Wolong real estate's future development prospects and investment value.

From the two - level market trend of Wolong real estate, the share price began to rebound after a new low of 3.74 yuan on 15 August. It is also in the process of Wolong real estate stock price rebound, Zhejiang Longsheng began to increase its holdings all the way.

From the public information that has been disclosed, Zhejiang Longsheng bought 21 million 30 thousand and 200 shares of Wolong real estate stock at a price of 3.94 yuan in August this year, with a shareholding ratio of 3%. Also in August, Zhejiang Longsheng sold 178 thousand and 900 shares of Wolong real estate at a price of 4.27 yuan ~4.30 yuan. Later, in September, Zhejiang Longsheng bought 14 million 204 thousand and 700 shares of Wolong real estate stock at a price of 4.44 yuan ~4.74, until reaching the line of placards.