Hua Fu Color Spinning Bought 36 Sets Of Unsalable Commercial Housing &Nbsp; Suspected Interest Spanmission.

The majority shareholders sold the house that they could not sell for three years. Huafu color spinning (002042) instead of buying 36 sets at a time. Together with the 36 commercial housing units, the company is also preparing to buy large shareholders in many different cities, involving more than 70 million yuan. Huafu color spinning so much from the hands of large shareholders to buy a house, what exactly do you want to do?

　　 Ho sold more than 70 million

Huafu color spinning announced a related spanaction announcement last weekend that the company plans to buy large shareholders. Huafu Holdings The total amount of real estate in Shangyu, Shenzhen and Hongkong is three yuan, which is 70 million 540 thousand yuan.

The property of the spanaction is as follows: Huafu holdings is located at the B building office building of the joint Plaza in Futian District, Shenzhen, with a gross floor area of 1710.93 square meters, and the assessed value is 35 million 570 thousand yuan. The 36 properties of the Huafu garden 5# building, located in Shangyu economic Development Zone, are valued at 23 million 200 thousand yuan, which is developed by Huafu, Shangyu. The name of Huafu group is located at 15, 2, 3 and 5 rooms of Hongkong center 15, Changsha Bay, Hongkong, Kowloon, and the relevant property appraisal value is 11 million 770 thousand yuan in Shangyu 15.

It is reported that Shangyu Huafu and Huafu group are wholly owned sun and wholly-owned subsidiaries of Huafu holdings, while Huafu holdings is also the largest shareholder of Huafu color spinning, holding 42.29% of Huafu color spinning, so related spanactions constitute related spanactions.

Huafu color spinning buys a lot of houses from large shareholders. In this regard, Hua Fu color spinning said in the announcement that the purpose of purchasing the above property is to optimize the assets structure of the company and enhance the independence of the company. Before the spanaction, the houses in Shenzhen and Hongkong were rented by the Huafu color spinning company from the related parties free of charge, and the purchase of Huafu garden was aimed at attracting talents to solve the housing problem.

　　 Obvious signs of interest spanmission

But is this really the case?

Although Hua Fu color spinning has given the necessary explanation for the spanaction, it may be difficult for analysts to explain this explanation: "now the property market prospect is unpredictable. Buying property for office is not a good choice." On the one hand, the low cost of renting office buildings will not bring pressure to the operation of the company, but also avoid the negative effects of real estate regulation.

In addition, it is worth mentioning that the reporter noticed that Hua Fu Garden, which was purchased by Huafu color spinning, was just an ordinary residential building sold by Shangyu Huafu for several years. It is reported that Shangyu Huafu It is a small real estate development company with a registered capital of only 1 million yuan, and since its development in 2009, it has only sold 141 units in 331 apartments. That is to say, the Huafu garden, which is purchased by Huafu color spinning, is actually a property which has been in a serious unsalable state for a long time, and the Huafu color spinning is rich and generous, and a total of 36 houses are arranged at one time.

"At present, the State Council's real estate control policy will not be relaxed within the foreseeable deadline, and the sales volume of commercial housing has dropped sharply. A large number of small and medium-sized real estate development companies have received huge financial pressure, and some have been on the brink of bankruptcy. Against this background, Huafu color spinning buys 36 Suites at a time, which is a great help to Shangyu Huafu, a small developer whose registered capital is only one million yuan. The above analysts say. At the same time, he said, "the whole connected spanaction seems to be more like a good play that Huafu Holdings has introduced itself in order to raise money for itself. Therefore, the spanaction of Huafu color spinning is unavoidable to damage the interests of shareholders of listed companies to give emergency relief to major shareholders, and the signs of interest spanmission are too obvious.

　　 Huge blood spanfusion hurts the main business

What worries the analysts is that the 70 million 540 thousand yuan is not a small sum for Huafu, such a small and medium-sized board company. After the massive blood spanfusion to major shareholders, will the main business of Huafu color spinning be affected? In fact, the analyst's worries are not unreasonable.

Huafu color spinning said that all sources of funds for the spanaction came from the company's capital accumulation. The 2011 Annual report shows that the cash balance of Huafu color spinning is 884 million yuan at the end of the term, but this fund is mainly derived from the 1 billion yuan refinancing issued in 2010. Moreover, the cash gap in the company's operations increased last year, which only reduced the company's cash reserves by 459 million yuan last year.

"Despite the fact that Huafu color spinning is not short of money, if we consider that the additional fund can not be misappropriated, it can only be used for the investment of additional projects. In fact, Huafu color spinning is in a state of lack of money, because the additional funds raised can only be earmarked for special purposes." The above analysts pointed out that once the Huafu color spinning additional investment projects can not advance as expected, too much improper capital will have a greater negative impact on the company's main business development.