The Dispute Between The Oldest And The Oldest In The Shang Dynasty

In March 29th, according to the announcement of A shares of the company, the Yintai side continued to increase its holdings in the two tier market, holding 22.72% stake in the A company, and 22.69% of them in the Wuhan business alliance and Limited by Share Ltd.

Facing the usurpation of Yintai Fang, the Wu Shang Alliance Party is really anxious.

In June 1st, Wu Shang Lian signed a strategic cooperation agreement with Zhongnan Electric Power Design Institute of China electric power engineering consultancy group.

Then we will count Wu Shang Lian and its related party state capital companies, Han Tong investment, concerted action people's investment and development, investment and development, Wuhan Iron and steel industrial, City Federation of trade unions, and A Hua beauty.

In July 12th, Wuhan A development partner Co., Ltd., a controlling shareholder of e Wu commerce, was sued by the people's Court of Jianghan District, Wuhan City, Hubei province for the increase of stock infringement.

The principal and agent of the two sides made evidence and heated debate in court. Although the court did not pronouncement the sentence in court, Wu Kai Kai's agent in Court indicated that he refused to reconcile.

On the evening of August 2nd, the company announced that Wuhan's State-owned Commercial Commission, Wuhan state owned company, and Wuhan economic development group jointly issued an offer offer to all shareholders. It plans to increase the 5% stake in the company, so that the proportion of state-owned enterprises in Wuhan will increase to 34.99%, which is far ahead of the two shareholder Yintai Fang.

"In this way, Wu business alliance can completely get rid of entanglement with Yintai."

Professionals have so much comment on Wu Shang Lian's offer proposal.

Although raising funds by way of buying shares and issuing bonds, Wuhan still has some "fear" in the face of the way of offer of state owned assets regardless of cost in Wuhan.

At this point, the "battle of the eldest brother" of the rising tide of Hubei merchants finally came to an end after months of turmoil.

mutual recriminate

2003, Shanghai one hundred,

However, Yintai is not an "oil saving lamp". After entering the Wuhan military business in 2005, Yintai was able to quickly increase its holdings and directly control its state assets.

Although the control right failed at the end of 2006, the bank did not quit, but waited for the time to fight.

I wonder if Wuhan's state assets will regret the decision?

In June 16th, Yintai filed a lawsuit in the people's Court of Xiacheng District, Hangzhou City, Zhejiang Province, Wu Shang Lian, Liu Jiangchao and Wuhan A Hua.

In July 4th, Yintai issued an "open letter to all shareholders of e Wu business" through its official website, asking everyone to pay close attention to the reform and opening up and the retrogression of democracy and the rule of law. The open letter listed several "counts" of A and its co operative people.

In July 12th, in the people's Court of Jianghan District of Wuhan, the commissioned agent of Wu Kai Investment said in court that Zhejiang Yintai Investment Co., Ltd. is a wholly foreign-owned investment company. In March and April this year, it continued to increase its A shares in the two tier market, holding shares exceeding 9 million shares, which violated the legal provisions of wholly foreign-owned investment companies that could not freely buy and sell A shares of Listed Companies in the two level market, and infringed the legitimate rights and interests of the plaintiffs and listed companies. They requested the court to order the sale of the holdings, and turn the proceeds to the market company, and ordered the shares held by them not to have the right to vote and demanded compensation for the economic losses of 2 million yuan.

Yintai Fang counterattacked that the plaintiff and the defendant were the A shareholders of the company, each of them had the rights and obligations to the company with their shares held, and there was no infringement on the plaintiff or any infringement result.

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The entrusting agent of Zhejiang Yintai investment company said that as a corporate body established in China, Zhejiang Yintai opened a securities account in China Securities Depository and Clearing Co., Ltd. and bought the A of the company through its lawfully opened securities account, which is a regular securities trading activity. The act did not violate the approved articles of Association, the certificate of approval and the business scope of the business license and the existing laws and administrative regulations.

Behind the battle of the head

Insiders analyzed that Yintai Fang and Wu Shang Lian's "ripping face" fierce struggle for months of control is intended to cash flow.

The company has abundant cash reserves.

According to the annual report, e Wu merchants held 1 billion 984 million yuan of monetary funds.

"If we can increase the cost of 100 million yuan, we can get the right to use nearly 2 billion yuan of funds, which is enough to encourage the Yintai side that is short of money to fight for controlling interest."

The industry said.

Moreover, the 2010 annual report of e Wu business shows that the total revenue of the company was 10 billion 540 million yuan, an increase of 32.75% over the same period last year, and the net profit attributable to shareholders of the listed company was 294 million yuan, up 22.95% over the same period last year.

Such turnover and profit rate are the best quality of the three listed companies of Wu Shang Lian.

A senior financial personage believes that Wu business association is so strong that it is in the position that the position of the largest shareholder of e Wu business is determined.

At this point, Wu Shang Lian is going to make a major integration of its 3 commercial listed companies, and stabilize the chief of the company, which is conducive to grasping the initiative of reorganization and avoiding "breaking the knot".

Yintai Fang needs a large amount of capital development in the three businesses of department stores, real estate and resources.

There is no doubt that Yintai Fang can hardly raise funds in a short time to compete with the Wu Shang alliance.

However, the "Wu one thousand self harm eight hundred" of the Wu Shang Lian undoubtedly made some of the shareholders of the e Wu businessmen feel uneasy and even upset.

A number of securities dealers pointed out that after the dispute over the controlling stake of the company was resolved, the management of the company concentrated on its performance. "The price increase of the major shareholders is more than 20 yuan, and the performance is not good, and the stock price is also difficult to perform.

If the share price is too low, there will be a loss of state assets. "

At present, there are still two directors, one independent director, one supervisor and two deputy general managers of Yintai Fang, including Daniel Chan, President of Yintai department store.

Industry analysts believe that if Wu Shang Lian and silver Thai side have different opinions, they will have a bad effect on company management. Sustained internal friction will inevitably damage the interests of the company.