E Wu Quicken The Layout Of The Three Or Four Line City

Wuhan Wu Shang Group Limited by Share Ltd resumed its license and issued a long-standing fixed announcement.

The company pointed out that the plan would be 13.57 yuan per share and no more than 152 million shares in the non-public offering, with no more than 2 billion 65 million yuan raised.

The funds raised will be used mainly to supplement the company's liquidity and to repay bank loans.

The object of the issue is Qianhai open source Fund Management Co., Ltd. (hereinafter referred to as "open source fund") to set up "Qianhai open source fixed increase 9 asset management plan", natural person Zhou Zhicong and company 2015 employee stock ownership plan.

This is the first equity financing of the company since 1997. It is also the actual controller of the Wuhan SASAC for the first time to introduce strategic investors to it.

"To a certain extent, it can be understood that the Wuhan SASAC has tried to reform the three listed companies under the water."

A business retail analyst analyzed the twenty-first Century economic report reporter. After that, the Wuhan SASAC promised that it would eliminate the competition among its three commercial listed companies in the next 5 years, and this commitment was not implemented on account of the factors such as the competition between the Hubei and Wuhan businessmen, the Yintai system, the Sino 100 group and the shinguang holdings.

Now, with the deepening of the reform of the state owned assets system, the restructuring of Wuhan's state owned Assets Department of the three major commercial listed companies, namely, e Wu, Zhongbai group and Wuhan Zhongshang, is very likely.

The analyst also believes that

In itself, the company has a high financial cost and a higher debt ratio than its peers.

This increase has not only greatly relieved the embarrassing situation of the company's financial structure, but also increased the liquidity of the company, and the implementation of the employee stock ownership plan also allows the major shareholders to gain greater control power, which is convenient for the company's management and implementation of the Wuhan SASAC's thinking.

According to the contents of the "A share stock plan" announced by the company, the open source fund will subscribe 75 million shares in cash for 1 billion 18 million yuan. After the issue is completed, it will own 11.37% of the company's shares. Natural person Zhou Zhicong will subscribe 1500 million shares in cash for 204 million yuan and hold 2.27%.

The employee stock ownership plan of A2015 will be subscribed to 62 million 174 thousand and 577 shares in cash for 844 million yuan, accounting for 9.43% of the total share capital of the company.

According to the largest number of shares issued, after the issuance of the new shares, the largest shareholder of the company will be diluted.

Its largest shareholder, the Wuhan business union group (Limited by Share Ltd), which is indirectly controlled by the Wuhan SASAC, and its associated party Wuhan Han Tong Investment Co., Ltd., has lost its shareholding ratio from 31.38% to 24.14%.

Its second largest shareholder, Zhejiang Yintai Department Store Co., and its related party shareholding ratio decreased from 22.58% to 17.37%.

"After the fixed share increase, the equity of major shareholders has been diluted, but the actual control ability of the company has been enhanced through the introduction of strategic investors and the implementation of ESOP by the Wuhan municipal SASAC."

The analysts said frankly.

Prior to this, Yintai entered the WTO, and the two sides of the game, the company's management related ideas can not be thoroughly implemented.

For e Wu businessmen, increasing liquidity is the minimum cost way to improve the company's financial structure.

Financial data show that as at the end of September last year, the company's assets and liabilities ratio has reached 72.32%, higher than the average level of peers. It has been interpreted by many agencies as financial cost control and lax.

At present, the department store of e Wu business continues to build its own large-scale shopping center on the basis of the annual opening of a new store.

Department stores accounted for more than 50% of the company's total revenue, and gross profit contributed more than 60%.

In the future, the company plans to continue to accelerate the layout of self built shopping centers in the three or four tier cities across the province.

The company's profit margin has been enhanced by adjusting the loss stores and new stores. Since 2013, the gross profit margin has been maintained at over 17%.

Under the business model of heavy assets, the company needs strong financial support for development.

Last year, from the shareholder level of Hubei Wu Shang, the State-owned Assets Department of Wuhan intersecting the management of Wuhan state owned assets management company and Wu Shang Lian, but the management of three listed companies is still coming from Wu Shang Lian.

Since then, Wang Aiqun, chairman of Zhong Bai group, resigned as chairman of the board because of his age. Wuhan SASAC pferred Liu Cong, general manager of the company, to the chairman of Zhong Bai group, and the two high-level enterprises first fused.

As early as in 2007, Wuhan's SASAC started its restructuring plan for its three commercial listed companies in two steps, namely, after the success of the merger and reorganization of Zhongbai group and Wuhan Zhongshang, the new company was reorganized with the Hubei military merchants.

The analysts said frankly that the underlying reason is the decentralization of shares and the inadequacy of internal reform.

To this end, in September 2014, the company announced its equity incentive plan, and the equity incentive plan of Zhongbai group and Wuhan Zhongshang was also in preparation.

"Including the implementation of the employee stock ownership plan today, the practice of Wuhan state assets department can mobilize the enthusiasm of employees and break the embarrassment of internal reform and change."

Some analysts say the signal to the market is that the deep reform of Wuhan's State Assets Department will be very different from before.

It is not only the huwu merchants.

In October last year, the Sino 100 Group signed a strategic cooperation agreement with Yonghui supermarket. In the new board of directors of the China 100 group, Yonghui successfully obtained the "seat" and participated in the company's management and decision-making.

The open-source fund in Qianhai, Shenzhen, joined hands with A, the joint venture chairman Wang Hongyuan. In a public occasion, he revealed that the theme of SOE reform and mixed ownership reform was not related to specific business management as a strategic investor.

Zhou Zhicong, who joined a with the open source fund, is also from the Guangdong area. It is the chairman of Guangdong Luka Clothing Group Co. Ltd., which has a place in the Chinese luxury clothing brand market.

"At the same time, the company launched the employee stock ownership plan, which brought about its later mixed expectations."

Some analysts say frankly.

"As an investor, whether it is financial investment or participation in business, this participating enterprise will have some positive effects."

He said.