Weekly stock recap: Yanpai (301081) sees fewer shareholders and launches several financial businesses

As of the 28 March 2025 close, Yanpai (301081) finished at RMB 9.51, down 1.86% from RMB 9.69 last week. This week’s high was RMB 9.76 on 26 March and the low RMB 9.32 on 24 March. Market cap is RMB 2.00 billion, ranking 22/28 in environmental equipment and 4814/5140 among A-shares.

This week’s focus

• Share capital and shareholders: As of 31 March 2025, shareholder accounts fell by 380, or 4.25%
• Company announcements: Approved FX derivative hedging of up to USD 40 million equivalent
• Company announcements: Approved entrusted wealth management of up to RMB 250 million idle own funds
• Company announcements: Approved applying for comprehensive credit of up to RMB 3 billion from banks and other institutions
• Company announcements: Approved an asset-pool business of up to RMB 100 million

Share capital and shareholders

Yanpai disclosed that as of 31 March 2025 it had 8,553 shareholder accounts, 380 fewer than 20 March (−4.25%). Average holding rose from 23,000 to 24,400 shares, worth about RMB 225,000.

Company announcements

Resolutions of the 15th meeting of the 4th Board

The 15th meeting of the 4th Board of Zhejiang Yanpai Filtration Technology was held on 1 April 2025 at 1 Yongxing Road, Shifeng Sub-district, Tiantai. Seven directors were due and seven attended, chaired by Chairman Sun Shangze, with supervisors and senior management present. The following proposals were approved:

• Approved FX derivative hedging with own funds of up to USD 40 million equivalent, valid for 12 months from Board approval.
• Approved an asset-pool business with financial institutions of up to RMB 100 million, usable on a revolving basis for 12 months from Board approval.
• Approved applying for comprehensive credit of up to RMB 3 billion and providing up to RMB 320 million of guarantees for controlling subsidiaries, for 12 months from shareholders’ approval. This item goes to the second EGM of 2025.
• Approved entrusted wealth management of up to RMB 250 million idle own funds by the company and subsidiaries, for 12 months from Board approval.
• Approved convening the second EGM of 2025 on 23 April 2025.

Resolutions of the 14th meeting of the 4th Supervisory Board

The 14th meeting of the 4th Supervisory Board was held on 1 April 2025 at the same address. Three supervisors were due and three attended, chaired by Sun Xiaoyang. Four proposals were approved:

• On FX hedging: the Supervisory Board believes it can reduce FX volatility and exchange losses and does not harm shareholders.
• On the asset pool: it can activate existing financial assets, raise efficiency and lower funding cost, without harming the company or shareholders.
• On credit lines and guarantees: it meets working-capital needs, widens financing channels and lowers cost, without harming the company or minority shareholders. It will go to the second EGM of 2025.
• On entrusted wealth management: it improves the use of own funds and does not harm the company or shareholders.