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Hai Lan Home 15 Billion Whether The Rapid Growth Of Backdoor Listing Is Still Unknown.

2014/3/3 14:36:00 37

recently, the issue of new shares has been postponed, but the merger and acquisition of A share listed companies has never ceased. 
In the early October of last year, the SFC implemented the merger and reorganization system. It means that when the Commission approves the application of the administrative license for mergers and acquisitions, it implements a differentiated auditing system according to the financial advisor's professional competence, the standardized operation of the listed companies, the integrity status, the industrial policy and the type of spanaction. This has accelerated the pace of mergers and acquisitions of listed companies on the basis of simplifying the examination and approval and improving efficiency. 
 M & A is the trend of domestic capital market development, which is conducive to the integration of industrial resources and economic spanformation. Mr. Liu, deputy general manager of an investment organization, told reporters. 
 from the statistics of the Research Institute, since 2013 (as of February 25th this year), the listed companies in the A share market have completed the restructuring and acquired 98 cases of mergers and acquisitions approved by the SFC, involving an amount of 221 billion 480 million yuan, of which the M & A amount in 2013 reached 147 billion 400 million yuan, which was 3 times that in 2012. From the perspective of company attributes, local state-owned enterprises spend billions of dollars and the total amount of mergers and acquisitions is over 100 billion yuan. From the industry point of view, non-ferrous metals and pharmaceutical industry is the place where mergers and acquisitions are frequent. Judging from the scale of mergers and acquisitions of a single company, Mei Group, Yun Tian Hua, Chongqing iron and steel, Shougang Group and keno technology have become the top 5 companies with the largest amount of mergers and acquisitions. Among them, Hai Lan's home invested 15 billion yuan to win the market by shell technology. 
 the M & A of local state-owned enterprises is over 100 billion /p >
 new shares have been postponed, and the M & a market, which is encouraged and supported by policies, is showing a hot situation. 
 reporter according to data statistics, since 2013, listed companies have disclosed 239 major asset reorganization applications, of which 98 have been approved by the SFC and completed mergers and acquisitions, involving 91 domestic A share listed companies. 
 from the company attributes, there are 42 private enterprises, 24 local state-owned enterprises and 16 central enterprises in the 91 listed companies. Although the number of private enterprises has an advantage, the real "local tyrant" is a local state-owned enterprise. The scale of mergers and acquisitions of local state-owned enterprises reached 102 billion yuan, the average scale of mergers and acquisitions reached 4 billion 300 million yuan per unit, while the amount of mergers and acquisitions of private enterprises was 49 billion 300 million yuan, the average amount of mergers and acquisitions of each enterprise was 1 billion 200 million yuan, and the scale of mergers and acquisitions of single enterprises was less than that of local state-owned enterprises 1/3. 
 from the performance of the last 5 years of ~2013 in 2009, the number of spanactions completed or the amount of spanactions involved has reached a new high in 2013. In 2013, 68 mergers and acquisitions were completed, involving a spanaction volume of 147 billion 400 million yuan, 3 times that of 2012, with an average spanaction volume of 2 billion 200 million yuan in each spanaction. 
 entering 2014, the merger and acquisition boom continued. Data show that as of February 25th, A shares listed companies have completed 9 mergers and acquisitions, 7 cases approved by the SFC. 
 M & A is mainly manifested in three forms, namely, the injection of large shareholders' quality assets, strategic spanformation and the introduction of strategic investors to the upstream and downstream industries and cross industry mergers and acquisitions. 
There are 47 enterprises involved in vertical and horizontal integration in the 91 enterprises mentioned in . There are 11 enterprises involved in the industry integration, 14 of which involve business spanformation and diversification strategy. 
 industry conformity "big fish eat small fish" /p >
 on the 2013 M & a market in China, the report pointed out that a total of 647 M & A spanactions were completed last year (not limited to mergers and acquisitions of listed companies), of which 48 were not disclosed. The total value of the 599 spanactions disclosed is about 594 billion 100 million yuan, with an average spanaction value of nearly 1 billion yuan per case. 
 from the industry distribution of M & A cases, the number of spanactions completed by metals, non-metals and mining is ranked first, with 55 spanactions completed, the total value of spanactions is 53 billion 100 million yuan, and the total value of oil, natural gas and fuel for cost reduction is ranked first, and 15 spanactions are completed, with a total spanaction value of 102 billion 100 million yuan. 
 and in the 91 A share listed companies that have completed the major reorganization since 2013, we see that there are 10 listed companies in the nonferrous metals industry, and the largest number of mergers and acquisitions in the industry. The spanaction value of non-ferrous metals amounted to 19 billion 100 million yuan, with an average scale of nearly 2 billion yuan per spanaction. 
Mr. P, director of investment of Zhejiang blue source Cci Capital Ltd (hereinafter referred to as "blue source investment"), said: "at present, the non-ferrous metal industry has the main problems of overcapacity and low degree of industrial intensification. Enterprises choose to merge horizontally and make industrial spanformation through mergers and acquisitions, thus resisting the negative effects of the slowdown in downstream demand and the decline in prices of non-ferrous metals products." 
 in the statistics of the non-ferrous metal industry stocks, the biggest increase is Hua Ze cobalt nickel, or up to 160%. 
 Hua Ze cobalt nickel rises because *ST gather friends to issue shares to specific objects to buy Shaanxi Hua Ze 100% equity trading. The company's main business has been spanformed into the production and sales of non-ferrous metals. {page_break} 
 another rare stock, which is worth noting, is one of the leading stocks of this year's nonferrous metal sector. It rose by 125% from the beginning of last year and is closely related to its restructuring concept. 
 2012, Minmetals rare earth company carried out a major asset reorganization: the main business was changed from electrolytic aluminum and aluminum processing business to rare earth smelting separation and rare earth technology research and development. At present, the total share capital is 980 million shares, and the actual controller is still Minmetals Group. 
 from the 2012 annual report, it has 4 wholly-owned subsidiary companies: Minmetals rare earth (Ganzhou) Co., Ltd., Ganxian Jinhong rare earth company, Ding Nan Dahua New Material Company and Rare Earth Research Institute. Rare Earth Research Institute located in rare earth separation optimization design solutions research company, profitability is generally, net profit of 2 million 920 thousand yuan. The other 3 subsidiaries are related to rare earth smelting, separation and deep processing, with net profit exceeding two hundred million yuan. 
 at the end of January last year, after the company completed the reorganization, its main business was changed from electrolytic aluminum and aluminum processing business to rare earth smelting separation and rare earth technology research and development. At the same time, it became an important rare earth separation business platform of Minmetals Group. 
 the background of the company's central enterprises and the rich rare earth resources owned by the group after M & A have given them the leading position. However, this year, the company issued a profit forecast revision. In 2013, its net profit was about 210 million yuan ~2.3 billion yuan. The main reason for the profit forecast is 58%~64%.'s persistent downturn in the current rare earth industry. The overall sales price and gross profit margin of the rare earth products are down compared with the same period. 
At the beginning of the year, the Ministry of industry and Commerce said that it will focus on supporting 6 enterprises, including Baotou Steel Group, China Minmetals, China Aluminum Corporation, Guangdong rare earth, Ganzhou rare earth and Xiamen tungsten industry, respectively, to take the lead in promoting merger and reorganization and establishing large rare earth enterprise groups. The rare earth industry has entered the "policy market", and prices are expected to rebound. Minmetals rare earth will benefit from the policy dividend in the context of the establishment and acquisition of large conglomerates. 
 following the nonferrous metals industry, it is the pharmaceutical, biological, mechanical and chemical industries. The restructuring of these 3 industries has reached 8. 
 last year, the NDRC and the SFC and other departments launched a number of policies to encourage mergers and acquisitions. For example, the NDRC's guidance on accelerating the annexation and reorganization of key industries will encourage nine industries such as automobiles, ships, electronics and pharmaceuticals to accelerate mergers and acquisitions. Since then, the pharmaceutical industries such as Shuanglong and Kang Bei have announced a major restructuring announcement. 
Of the A shares listed companies that have been restructured in 2013 P, 8 stocks come from the pharmaceutical and biological industries. Judging from the performance of last year's plate, nearly 50% of pharmaceutical and biological products showed bright prospects. Among them, medical services and medical devices performed best. The increase was over 130%.. The pharmaceutical and biological industry has the largest value of 2 billion yuan in mergers and acquisitions. Through restructuring, the pharmaceutical assets of the magic group will be listed as a whole. 
Liu Yaming, analyst of Founder P, pointed out that the recent M & A and restructuring of the pharmaceutical sector have continued to heat up. As of February 17th, there were 14 pharmaceutical companies in Shanghai and Shenzhen two cities in the suspension stage. It is understood that most of the companies suspension and reorganization of mergers and acquisitions related matters. With the gradual maturity of the pharmaceutical industry, annexation and reorganization is the only way to eliminate backward production capacity and strengthen the strength of high-quality companies. However, how to choose the target "turning waste into treasure" is the key to measure the investment vision and strategic layout of the relevant companies. The impact of M & A needs careful consideration. 
 "in the future, the growth of China's pharmaceutical market is a systematic growth of the rising of emerging economies and the initial construction of new health care reform. But in the integration of mergers and acquisitions, pharmaceutical enterprises are still facing greater uncertainty risks. Mr. Sun, partner of blue source investment, said so. 
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 91 of the major stocks that have completed the major reorganization, the top ten of the M & A spanactions scale are the electrical appliances of the United States, Yunnan, Chongqing iron and steel, Shougang Group, keno technology, Shenzhen energy, Hongcheng share, Beihai port, shares of Fu austral and Jiangnan red arrow. Among them, 6 enterprises merger and reorganization aims to carry out industrial integration, 3 shell buying and 1 business spanformation. 
 3 companies that buy shell listed are Keno technology, Hongcheng share and Beihai port. The scale of spanactions is 13 billion yuan, 5 billion 600 million yuan and 5 billion 100 million yuan respectively. 
"P" once caused the hot debate is the sea LAN home "a target=" _blank "href=" http://www.91se91.com/ "dress" /a "Limited by Share Ltd (hereinafter referred to as" Hai Lan home ") backdoor Keno technology curve listing. 
 Hai Lan's listing scheme was rejected, and a backdoor listing scheme was launched. In February 18th this year, it completed the backdoor, which means that Hai Lan's largest shareholder, Hai Lan group, will become the controlling shareholder of Keno technology. Zhou Jianping, the controller of Hai Lan group and Hai Lan's home, will become the real controller of Keno technology. 
"P >" Keno technology "said that through this major asset reorganization, the restructuring of listed companies will become the largest brand in the country," a target= "_blank" href= "http://www.91se91.com/", "clothing /a" management enterprises. However, the current garment industry is not easy. Among the 36 enterprises in the home textile industry, there were 25 net profit drops in the three quarterly report in 2013. However, the net profit of industrial, wedding bird and Sha Sha shares exceeded 50%. The overall consumption of men's clothing industry is low. The commitment of Hai Lan's home to break through and achieve rapid growth in performance remains uncertain. 
 Hongcheng shares were borrowed from the pharmaceutical industry of Ji Chuan. The deal was officially completed by the end of last year, and Hongcheng shares were spanformed from a valve manufacturing company into a pharmaceutical company. 
 drug industry mergers and acquisitions are common occurrences. Mr. Sun, a partner in blue investment, once engaged in pharmaceutical investment. He told reporters that "we invest mainly in two types of Companies: one is to make significant improvements in the current and future profits through mergers and acquisitions, and the other is that the returns are not too large in the short term, but the industry background is good, the market potential is large, or it can make up for the short board of the company." 
 the purpose of mergers and acquisitions of listed companies is many, which can rapidly improve performance reports, achieve rapid accumulation of assets, and integrate resources into resultant forces so as to enhance market competitiveness and seize market share. In the face of the crisis of small and medium-sized enterprises, under the market conditions of "big fish eating small fish", there will be more and more giant companies that will seize the opportunity to integrate the resources of the industry.