Gold Plated Chinese Clothing Failed Longchuan Gold Mine Intends To Inject Assets Valuation Of 3 Billion 500 Million Yuan

　　 China apparel Limited by Share Ltd (00092.SZ, the "gold-plated" failure is called "Chinese clothing").

In July 5th, Zhongcai issued a notice that it planned to suspend the major asset reorganization with the Longchuan gold mine limited liability company (hereinafter referred to as "Longchuan gold mine") in Baise, Youjiang, Guangxi. According to the announcement, the reason for the suspension is "in view of the complexity of this major asset reorganization, the underlying assets involve a wider range, and the relevant communication and demonstration work can not be completed within the specified time. Therefore, the Longchuan gold mine decided to suspend major asset reorganization with our company, and wrote to our company.

The announcement came out. In July 6th, the resumption of Chinese clothing resumed from the opening until the end of the trading day. Price of stock It fell from 13.89 yuan to 12.5 yuan. In the two months before the suspension, the highest price of Chinese clothing was May 20th, when the stock price was 15.64 yuan, and the price was 14.87 yuan at the time of suspension.

In May 31st, China clothing issued a major asset restructuring suspension. Notice The announcement said it will resume trading in June 30th.

A notice in June 30th postponed the resumption date for one month, saying that the parties were trying to communicate the reorganization plan and postponed until July 29th.

"We received the letter from the other side's suspension and reorganization, saying that the demonstration work could not be completed within the specified time. The shareholder structure of this company is rather complicated, and there are many resources and mines under it. There are mineral resources in several provinces and cities, and it is tense in time, "said Zhang Hui, a representative of China Securities and securities company.

"Before July 29th, it is impossible to complete the relevant argument as required. We have ten gold mines in Guangxi, Shandong, Hebei and other places. Over a month, we have made so many financial statements, geological reports, reconnaissance reports and so on. We really can't do it, so we decided to suspend the restructuring and let the Chinese service resume, "explains Yang Xing, executive director of Longchuan gold mine."

In fact, Longchuan gold mine, as a reorganization party, according to Yang's statement, Longchuan gold mine currently has more than 10 gold mines in many provinces and municipalities, and its grade is relatively high. Gold reserves exceed 100 tons. Guangxi Baise Youjiang district land and Resources Bureau said the Longchuan gold mine was formerly a gold company in Youjiang, and transferred the mining rights to Longchuan gold mine limited liability company in 2006.

Youjiang District Land Bureau official said, although the Longchuan gold mine in Baise is not the largest gold ore, only 30 thousand tons per year scale, but the ore grade is very high, "belongs to the mine which can be extracted at home." The person in charge said. "However, due to local reasons and other reconnaissance reports, Longchuan gold mine has not been properly mined, but it is still very small."

"The valuation we give is 3 billion 500 million yuan. Neither side has any objection. " Executive Director Yang said. According to Zhongbao 2010 annual report, in 2010, the company's total assets amounted to 1 billion 297 million yuan and its operating income was 2 billion 39 million yuan.

According to the announcement, the restructuring of China clothing shares and Longchuan gold mine is through asset replacement and issuance of shares to buy assets. If the stock price is 14.78 yuan on the day of suspension, Yang will probably have a 60% stake in China. "But we didn't talk about the agreement price at the end, after all, we couldn't prepare the required data at the stipulated time."

Or failure to prepare information is only one reason why Longchuan has been suspended. For Longchuan gold mine, there is more than one Chinese ball throwing ball. Sources said, "many families have had contacts, including Chenzhou Mining." Yang said. "But we choose Chinese clothing as the central enterprise, and it will be more standardized."

Futuristic conjecture

"From the beginning of contact to the decision to talk about cooperation, the share price has doubled."

The Chinese central enterprises have been allowed to throw the hydrangea into the Longchuan gold mine. But "there is no reason".

Since July 2010, the price of Chinese clothing has risen from about 5 yuan to the highest level of 15.64 yuan.

According to Yang Toulu, when the Chinese clothing was in contact with the Longchuan gold mine, the stock price was about 7 yuan. "In fact, the price at that time is more suitable, and now the stock price pressure of ten yuan is larger. The share price has doubled since the beginning of the decision and cooperation.

Or optimistic about the trend of Chinese clothing since the second half of last year, in April 19th and May 19th, the announcement of shareholders' reduction. The fourth largest shareholder of China's the Great Wall is Asset Management Co and the second largest shareholder of the company, Xi Quan investment holdings. The Great Wall assets are reduced from 4.46% to 3.39%, while West Spring has been reduced several times from the second half of last year, from 15.04% to 5.05%.

Chinese clothing has been losing money in 2008 and 2009, with a loss of 96 million 386 thousand yuan. It was not until 2010 that the loss of *ST was realized, and the hat of the *ST was removed. From April 12th this year, the Chinese clothing was renamed "Chinese clothing".

It is not easy to turn around. The restructuring legend continues.

Since 2009, the news of restructuring has been continuously transmitted, and subsequently denied, but the transfer of equity in April 2010 once again led to speculation about restructuring. At that time, *ST, the controlling shareholder of the Chinese clothing company, transferred 38 million 823 thousand shares (15.04% of the total share capital) to the Shenzhen West Spring Pan East Investment Limited (hereinafter referred to as "West Spring"), and the price was 213 million 300 thousand yuan. Xi Quan has become the second largest shareholder in the Chinese garment industry, while *ST, the second largest shareholder of the parent company, has 19.23% stake in the China Hi-Tech Group Corporation, and has become the largest shareholder of the company. A series of assets and equity transfer, which makes the restructuring news of Chinese clothing more reliable.

Until May 30th, the Chinese suit eventually reassembled the news, but it was again postponed with the "undivided" of the Longchuan gold mine.