The actual controller is planning a "change of ownership" — Taifu Pump Industry continues to be suspended. Who will hold the control? | Quick read of the announcement

Faced with thousands of listed company announcements every day, which ones should you look at? In major event announcements that can easily run dozens or even hundreds of pages, what are the key points? With a pile of professional terms in the announcements, are they good news or bad news? Please take a look at Caixin News’ “Quick Read Announcements” column—our reporters stationed across the country will bring you accurate, fast, and professional interpretations on the night of the announcement.

Caixin News, March 25 (Reporter Chen Kang) Tafu Pump Industry (300992.SZ) announced tonight that the trading will continue to be suspended. The reason is that the controlling shareholder and actual controller are planning matters related to a change in control, and this matter still has uncertainties. The company’s stock was suspended on March 24, and it is expected that trading will not resume and the stock will not be reinstated until March 26.

On the day before the suspension, Tafu Pump Industry’s share price was 34.90 yuan per share, and its total market value was 3.327 billion yuan.

This is the company’s second recent announcement regarding a change in control. Judging from the contents of the announcement, this time the planning has not yet entered a stage of substantive disclosure. The company did not mention the transaction counterparty, nor did it disclose specific methods (such as agreement transfer, voting rights entrustment, or tender offer, etc.). It only stated that it is “actively pushing forward,” that the “overall plan is still under negotiation,” and that “the two sides of the transaction have not yet signed a formal agreement.”

According to available information, Tafu Pump Industry was listed on the Shenzhen Stock Exchange’s ChiNext board on May 25, 2021. Its main business involves pump products, covering the industrial and civil fluid transportation fields. It currently has eight categories and more than 2,000 water pump models, including land pumps, small submersible pumps, sewage pumps, deep-well pumps, circulation pumps, energy-saving pumps, engineering pumps, and plunger pumps, among which solar pump has a leading market share.

The company’s equity structure is relatively concentrated. It is jointly controlled by Mr. Chen Yiwen and Ms. Lin Huifu, with a direct shareholding ratio of 23.24%. The company expects the suspension period to be no more than 3 trading days, and its convertible corporate bond, “Tafu Convertible Bond,” will have its conversion suspended.

On the evening of March 1, before the first announcement of the transfer of control, Tafu Pump Industry issued a “Notice on Changes in the Rights and Interests Triggering the 5% Integer Multiple for the Controlling Shareholder, the Actual Controller, and Their Acting-in-Concert Parties.” It mentioned that from May 25, 2021 to February 27, 2026, the shareholding ratio of Chen Yiwen, Lin Huifu, and their acting-in-concert parties in Tafu Pump Industry decreased from 48.46% to 45%. The reasons include: certain acting-in-concert parties of Chen Yiwen and Lin Huifu reduced their shares of Tafu Pump Industry recently; and passive dilution resulting from the conversion of the company’s convertible bonds, as well as the cancellation of share-based incentives.

The announcement shows that the acting-in-concert parties of Chen Yiwen and Lin Huifu—Wenling Hongtai Investment Partnership (Limited Partnership) and Wenling Yitai Investment Partnership (Limited Partnership)—recently reduced some of their holdings of Tafu Pump Industry shares through centralized bidding.

In the first three quarters of 2025, Tafu Pump Industry’s operating revenue was 635 million yuan, up 23.36% year over year; its net profit attributable to the parent company was 16.8518 million yuan, down 13.89% year over year.

A massive amount of information and precise interpretation—available on the Sina Finance app