Reorganization has twists and turns
On January 5, Robotech announced that its major asset restructuring plan of issuing shares and paying cash to purchase assets and raise supporting funds was suspended by the Shenzhen Stock Exchange's Mergers and Acquisitions Review Committee on January 3.
The news meant a bright future for the capital market. The company's stock price fell sharply the next day, and after several struggles it finally hit the 20cm limit down.
The company originally planned to acquire 81.18% of the equity of Suzhou Feikongtech Technology Co., Ltd. (Feikongtech) by issuing shares and paying cash, and to purchase 6.97% of the equity of Germany's FSG and FAG respectively by cash payment. The total transaction price was approximately 1.012 billion yuan. After the transaction is completed, Robotech will indirectly control 100% of the shares of the two German companies.
At the end of July 2023, as soon as the news of the home owner data restart of mergers and acquisitions was announced, the company quickly started a round of growth. In less than half a year, the increase more than doubled.
Prior to this, the company's acquisition of FiconTEC went through multiple stages from initial contact, consortium formation, step-by-step acquisition, epidemic interruption to final restart and advancement, which lasted more than three years.
In 2019, Robotech Chairman Dai Jun joined forces with several investment institutions to establish Feikongtech for acquisition purposes. In May 2020, FiconTEC reached an agreement with the seller ELAS to acquire FiconTEC's equity in two steps: the first step is to acquire 80% of the equity, and the second step is to acquire the remaining 20% of the equity.
Although it passed the review of foreign government agencies, the plan was shelved due to the epidemic. In April 2023, Robotech again proposed to initiate a restructuring transaction, and reached an agreement with the counterparty in August of the same year. Finally, in August 2023, it completed the acquisition of 93.03% of FiconTEC's equity.
After two capital increases, Robotech held 18.82% of the shares of Feikongtech, becoming the second largest shareholder. On December 25 last year, it announced that it would further achieve 100% controlling stake.