The hottest year-end restructuring is promising, a

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The year-end reorganization has great significance, and the strategic reorganization has gradually become the mainstream

the year-end reorganization has great significance, and the strategic reorganization has gradually become the mainstream

China Construction machinery information

Guide: the year-end asset reorganization fever has undoubtedly become a major specialty of China's stock market, and the same is true this year. According to incomplete statistics, since October, there have been more than 100 large and small asset restructuring matters of listed companies. It is noteworthy that in the news of restructuring at the end of this year, the investment with the purpose of surprise profits

The year-end asset restructuring fever has undoubtedly become a major specialty of China's stock market, and this year is no exception. According to incomplete statistics, since October, there have been more than 100 large and small asset restructuring matters of listed companies. It is noteworthy that in the news of restructuring at the end of this year, speculative restructuring for the purpose of raiding profits is no longer popular, but asset mergers and acquisitions and industrial restructuring, so that substantive and strategic restructuring has gradually become the mainstream

restructuring tests the water financial innovation

completing restructuring and integration through financial innovation has become an important play on the restructuring stage at the end of this year. From TCL Group's absorption and merger of TCL COMMUNICATION (related, market), to Shanggong's private placement of B shares, and then to Wuhan Iron and steel (related, market) listing through the additional issuance group, all of them have attracted the attention of the market. Among them, the most interesting seems to be the innovative restructuring of private placement attempted by *st duckling (related, market)

*st duckling recently announced that the company plans to adopt the way of private placement to acquire the operating assets of the axle plant, forging plant, clutch (related, market) plant and equipment power plant of China Heavy Duty Truck Group Co., Ltd., so as to solve the problems of the overall listing of its restructuring party, China heavy duty truck business, and reduce the continuous related party transactions between the company and major shareholders after the restructuring, It has laid a foundation for standardized operation and development. The company believes that the implementation of private placement and restructuring will significantly reduce the asset liability ratio of listed companies, enable listed companies to obtain high-quality assets without using a large amount of cash, enhance their competitiveness, and avoid cash out by major shareholders. Of course, this plan can only be implemented after being reviewed by the CSRC

market participants gave positive comments on *st duckling's bold attempt. They said that in the year-end restructuring tide, *st duckling's restructuring method is undoubtedly a bright spot. Its restructuring is the first time that private placement has been used in the restructuring of inferior enterprises, which has created conditions for superior enterprises to participate in the substantive restructuring of companies with poor performance. For *st duckling, although this restructuring may not change its fate of losing three years in a row, it paves the way for its future development

strategic mergers and acquisitions go to the foreground

the recent restructuring announcement shows that the number of restructuring focusing on long-term business adjustment and asset integration is increasing, and most of such restructuring is implemented by acquiring assets. Changshan shares (related, market), Inspur software (related, market), Zoomlion (related, market), Qinchuan development (related, market) and other companies have implemented asset acquisition restructuring. Although such restructuring can not bring short-term benefits to enterprises, in the long run, it can strengthen the profitability of the main business of listed companies and enhance their core competitiveness

taking Changshan Co., Ltd. as an example, in order to straighten out the investment system, speed up technological transformation and improve the overall performance, the company decided to acquire the assets and liabilities of Shijiazhuang Miansan Textile Co., Ltd. as a whole. The two sides negotiated and determined the asset transfer price of 194.34 million yuan. Similarly, Zoomlion plans to acquire the operating assets and liabilities related to the production of 25 ton and above truck cranes owned by Puyuan Co., Ltd. with 98.4637 million yuan of self raised funds. Zoomlion said that the assets to be acquired this time have good business complementarity with the company, and the trouser shaped samples will be enriched and selected after the completion of this acquisition: the trouser shaped samples are not sensitive to the length of the incision, which is good for the product chain of the company's construction machinery, realizes product diversification, and enhances the company's comprehensive strength, core competitiveness and anti risk ability, which is conducive to the sustainable and stable development of the company

in addition, BOE plans to invest HK $1.05 billion to acquire 26.36% shares of TPV technology held by Taiwan pan Fangren and become its largest shareholder. Through the acquisition, BOE will quickly integrate the upstream and downstream supporting industries of TFT-LCD, improve the marketing network of terminal products, and consolidate the future market prospect of BOE Beijing TFT-LCD industrial base. At the same time, as TPV technology is listed in Hong Kong and Singapore respectively, this international capital market platform will also provide strong support for the subsequent development of BOE and TPV technology

active Lei Feng frequently appeared

in order to avoid losses and delisting of listed companies, shareholders have saved shell resources of listed companies by sacrificing their own interests in recent years. In the tide of restructuring at the end of this year, such active Lei Feng shareholders also appeared frequently, which made the market have to lament their selflessness

here, we must mention the four Lei Feng style circulating shareholders recently met by St Ji light industry (related, market). The four shareholders of Circulating Shares applied to the board of directors of Jilin Light Industry on November 24, requesting that the equity of the two real estate companies held by them be invested in Jilin Light Industry free of charge according to the actual assessed value. For details, please call the relevant staff to answer this request for you, which actually means free donation, and free additional investment by minority shareholders who only hold thousands of circulating shares, which is probably the first time in the securities market

CYTS (related, market) which was once in trouble due to the impact of SARS also met a kind-hearted person. The company not only sold a loss making asset at a good price, but also transferred part of its creditor's rights at the original price. Surprisingly, this living Lei Feng has no connection with the company. According to the announcement, Beijing CYTS Chuangge Technology Co., Ltd., a holding subsidiary of CYTS, transferred its 20.48% equity of CYTS Suzhou Taihu National Tourism Resort Development Company to Jiangsu Wuzhong (related, market) group at a transfer price of 55 million yuan. This transaction will generate an investment income of 20.3897 million yuan. At the same time, Jiangsu Wuzhong group will receive part of the creditor's rights of CYTS to Suzhou company of 22.824 million yuan, and the transaction price is 22.824 million yuan. According to the semi annual report of CYTS this year, the investment income of Suzhou company from January to June this year was -4.39 million yuan, while its cumulative loss over the years has reached 1.88 million yuan. The sale of 20.48% of the equity of Suzhou company by Chuangge technology, which is 80% owned by CYTS, will generate an investment income of 16million yuan for CYTS, which can increase the earnings per share of CYTS by 0.06 yuan

there are still short-term behaviors

although there has been a positive change in year-end restructuring, and the restructuring of statements and licensing protection have decreased, this does not mean that such restructuring has been completely abandoned. Judging from the current situation, utilitarian restructuring still exists, and it is still dominated by loss making companies or ST companies. However, if such a magic weapon of capital operation is not sacrificed, these companies will face difficulties in the new year

according to relevant statistics, *st group is undoubtedly the professional households that make sudden profits at the end of the year. Since October, nearly 20 * ST companies have disclosed the transfer or divestiture of assets in an attempt to subsidize the annual report. For example, *st Tianfa (relevant, market) plans to transfer the land use right of 65823 square meters at the intersection of Wude road and Jiangjin Road in Jingzhou City, which is owned by a company similar to China's plastic processing industry, to Hubei Dilong at a transfer price of 55.85 million yuan, with an estimated profit of about 32 million yuan* St Zhujiang (relevant, market) plans to transfer 98.67% of the equity of Hainan Zhujiang pipe pile Co., Ltd. to Singapore D. the total transfer price is 50million yuan

it is not difficult to find that for some companies that are difficult to make profits from their main business in a short time, especially for some high-risk companies, sellers should still be the best way to solve their urgent needs. For such a restructuring, investors need to carefully analyze

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