Trading halt effective immediately! 300992, planning control rights change!

On the evening of March 23, Taifu Pump Industry (300992) announced that the company’s actual controllers, Chen Yiwen and Lin Huifu, are planning matters related to the change of control of the company. This may lead to a change in the company’s controlling shareholder and actual controller.

To protect investors’ interests and prevent abnormal fluctuations in the company’s stock price, the company applied to the Shenzhen Stock Exchange for suspension of trading. The company’s stock and convertible bonds (Taifu Convertible Bond, bond code: 123160) will be suspended from the market opening on March 24, 2026. The suspension is expected to last no more than two trading days. During the suspension, the “Taifu Convertible Bond” will also suspend conversion.

The announcement shows that all parties are currently discussing and negotiating specific plans, agreements, and related matters. The details are subject to the relevant agreements signed by all parties. The matter is still in planning and involves significant uncertainty.

Public information indicates that Taifu Pump Industry mainly focuses on the research, production, and sales of civilian water pumps. Its core products include land pumps, small submersible pumps, well submersible pumps, circulation pumps, and energy-saving solar water pumps. These products are widely used in domestic water supply, agricultural irrigation, livestock watering, hot water circulation, and other scenarios.

It is worth noting that last year, Taifu Pump Industry also planned a major asset restructuring. According to an announcement on October 31, last year, the company terminated its plan to acquire at least 51% of Zhejiang Nanyang Huacheng Technology Co., Ltd. (hereinafter referred to as Nanyang Huacheng) for cash and to gain control of Nanyang Huacheng.

Previously, on July 9, 2025, Taifu Pump Industry signed a letter of intent with Nanyang Huacheng shareholders Shao Yutian, Feng Jiangping, and Lin Fubin regarding the acquisition of equity in Zhejiang Nanyang Huacheng Technology Co., Ltd. The plan was to acquire at least 51% of Nanyang Huacheng for cash and gain control, with the specific acquisition ratio to be determined by a formal agreement. After the transaction, Nanyang Huacheng would become a controlling subsidiary of the company and be included in the consolidated financial statements. This transaction is expected to constitute a major asset reorganization.

According to available information, Nanyang Huacheng’s business scope includes new material technology research and development; electronic special materials research and development; new material technology promotion services; mechanical equipment research and development; technical services, development, consulting, exchanges, transfer, and promotion; manufacturing of electronic special materials; plastic products manufacturing; and power electronic components manufacturing.

At that time, Taifu Pump Industry stated that its main business was the research, production, and sales of civilian water pumps. Although the water pump industry as a whole is steadily growing, as a relatively traditional manufacturing industry, competition within the industry is becoming increasingly fierce, and profit growth for listed companies has been sluggish. To address this, Taifu Pump Industry planned to acquire Nanyang Huacheng’s controlling stake through a cash purchase, introducing new productive forces to create a “second growth curve.”

According to a previous performance brief released by Taifu Pump Industry, in 2025, the company’s total operating revenue was 936 million yuan, an increase of 25.88% year-on-year; net profit attributable to the parent was 17.56 million yuan, an increase of 38.78% year-on-year. The company stated that during the reporting period, sales revenue of land pumps, energy-saving pumps, and circulation pumps increased. Additionally, during the previous reporting period, the company experienced significant exchange losses due to the ruble’s depreciation, but in this reporting period, ruble appreciation generated exchange gains, which had a considerable impact on net profit.

In the secondary market, since the beginning of this year, Taifu Pump Industry’s stock price has risen. As of March 23, the stock closed at 34.9 yuan per share, with a cumulative increase of about 30%. The latest total market value is 3.33 billion yuan.

Proofreader: Yao Yuan