Gujia Home has really changed its surname to "He"! On November 9, Gujia Home announced that Gujia Home's controlling shareholder Gujia Group Co., Ltd. and its concerted action person TBHome Limited, as well as the company's actual controllers Mr. Gu Jiangsheng, Mr. Gu Yuhua and Ms. Wang Huoxian signed the "Gujia Home Co., Ltd. Strategic Cooperation and Share Transfer Agreement" with Ningbo Yingfeng Ruihe Investment Management Co., Ltd. (hereinafter referred to as "Yingfeng Ruihe Investment") on November 9, 2023.
According to the transfer agreement, Infore Ruihe Investment transferred 241,838,695 Gujia Home shares held by Gujia Group and TBHome in total, accounting for 29.42% of the total share capital of Gujia Home. The transfer price was RMB 42.5846 per share, and the total transfer price was RMB 10,298,604,091.10.
Gujia Home stated that this change in equity is a transfer of shares by the controlling shareholder of Gujia Home through an agreement transfer and does not involve a tender offer. In addition, after the transaction is completed, the controlling shareholder of Gujia Home Furnishing will be changed from Gujia Group to Infront Ruihe Investment, and the actual controller will also be changed from Gu Jiangsheng, Gu Yuhua, and Wang Huoxian to He Jianfeng.
It is understood that Infore Ruihe Investment is an indirect holding subsidiary of Infore Group. The official website of Infore Group shows that the company was founded in 1994 and is an industrial group in the rapid development stage. Currently, its industries are deployed in five major fields: environment, culture, investment, technology, and consumption. It owns listed companies "Infore Environment" and "Baina Qiancheng", as well as a series of well-known domestic and foreign brands such as Infore Environment, Infore Zoomlion, and Shanghai Vocational and Technical College. The actual controller of Infore Group is He Jianfeng, the son of He Xiangjian, the actual controller of Midea Group, and currently serves as a director of Midea Group.
In addition, the announcement also shows that the transferee and the transferor intend to give full play to the core competitiveness and resource advantages of each party in their respective fields, establish a strategic partnership of equality, mutual trust, and win-win cooperation, conduct strategic cooperation around business expansion in the home furnishing field, optimize the corporate governance structure, improve the corporate governance mechanism, and jointly help the target company develop better and faster.
Earlier, Qian Xiangjin, a distinguished professor at the School of Management of Zhejiang University, said in an interview with a reporter from Securities Daily: "For Infore Group, the strategic layout of Gujia Home may be based on its confidence in the long-term development of the home furnishing industry and its hope to become the company's controlling shareholder; For controllers, the introduction of well-funded strategic partners like Infore Group is also expected to help listed companies develop better and faster; for listed companies, the introduction of high-quality shareholders will help optimize the corporate governance structure and improve the corporate governance mechanism. This may be a ‘win-win’ situation.”