It Is Imperative For Wangfujing To Join The Whole Group Of Three Cell Groups.

In addition to the actual controller, the Beijing municipal SASAC has participated in the subscription of 1 billion yuan by the GF fund, and has introduced two strategic investors in Wangfujing.

Among them, three cell group's three cell investment subscribe 1 billion 500 million yuan, accounts for the fixed increase share ratio to achieve 50%, Shanghai Yi trillion investment subscribe for 500 million yuan, accounts for the fixed increase proportion ratio is 17%.

At the same time, the name of Wangfujing company will also be changed from "Beijing Wangfujing department store (Group) Limited by Share Ltd" to "Wangfujing group Limited by Share Ltd".

In this regard, Haitong Securities Business and trade industry analyst Wang Liting analysis pointed out that the change of the legal name of the Wangfujing, reflects the company's promotion from the traditional department stores to provide comprehensive services in the retail sector development, focusing on the development of shopping centers, Oteri J format of strategic development layout.

At this time of pformation, Wangfujing has further introduced external strategic investors through additional issuance, and has also optimized its equity and governance structure.

In the future, under the background of the reform of state-owned enterprises, the company still has many expectations such as overall listing and incentive improvement, and it can also drive business development and accelerate pformation.

according to

This announcement shows that of the 3 billion yuan raised by the fixed increase, 2 billion 836 million yuan will be used for the construction and preparation of 6 shopping center projects.

Among them, the two shopping mall of Harbin Qunli Culture Plaza needs 519 million yuan, 696 million yuan for Zhengzhou Hedi shopping center, 670 million yuan for Xi'an Hedi shopping center, 541 million yuan for Foshan Wangfujing shopping center, 275 million yuan for Nanchang Wangfujing shopping center and 136 million yuan for Yinchuan Dongfang red shopping center.

"The above 6 shopping centers are committed to providing customers with new shopping methods and service experience, which is conducive to enhancing the competitiveness and market share of the company in the retail industry."

The Wangfujing side said that under the predicament of traditional retail mode, the company is changing its new retailer, which is able to provide comprehensive services from traditional department stores.

Wangfujing president Dong Jiasheng once told the media that Wangfujing will focus on the layout of shopping centers and high retail formats such as Oteri J in the future. There will be 4-5 shopping centers in 2016.

In addition, Wangfujing has fully implemented the "shopping center" of the existing large volume department stores and the new comprehensive department stores, and increased the experience type stores into the shops.

The core of shopping experience is merchandise.

Anxin securities Liu Zhangming believes that the introduction of the three cell group in Wangfujing is expected to draw on its rich experience in its own brand operation and buying mode business mode.

It is reported that Sanzi group owns retail business Nanjing Xin Bai and Hong Tu Gao Ke.

Among them, Nanjing new hundred belongs to the regional old department stores, and basically belongs to the same state with Wangfujing.

In April last year, Nanjing announced that it had successfully purchased a 100 year old Fraser store group (HouseofFraser) at 200 million pounds, and announced that it would take this opportunity to introduce Fraser's mature private brand and buyer's mode of operation to achieve a major pformation from traditional department stores to modern department stores.

In its subsequent announcement, "

In the "revolution" plan, we also put forward "to cultivate our own buyer team, directly purchase goods, and form a unique self operated commodity area".

In fact, the buyer system has gradually become the main direction of traditional department store enterprises to change themselves in the business mode, but there are still no successful cases in the domestic buyer system.

A manager of a department store in Shenzhen introduced to reporters on twenty-first Century economic report that buyers are mainly Buying locally based on sales data of retail stores, including domestic brands and overseas brands.

By directly participating in the process and operation management of the brand, the inventory control right and the timeliness of delivery can be improved.

"Because there is much room for the option of pricing power and commodity type, there is a higher margin margin."

According to this idea, the buyer system can help Wangfujing solve the problem of Wumart. If combined with cheap outlets stores, it will achieve the goal of cheap and good quality.

"Through the introduction of three cell groups, Wangfujing is expected to cooperate with Nanjing Xin Bai to explore the buying system, build a professional buyer team, improve the proportion of private brand operation, and enhance profit margins."

Liu Zhangming said.

According to Wangfujing's 2014 earnings report, only 49 thousand and 300 of the remaining directors, supervisors and senior managerial personnel in the current and reporting period were held by Liu Bing and vice president Guo Zhigang.

Wang Liting analysis said that after the introduction of the three cell group, the Wangfujing is expected to restructure the original board of directors, and the partnership system and management equity incentive system are expected to accelerate. The reform of Wangfujing will become a sample of Beijing SASAC business enterprise reform.

In addition, the initiation of management incentive mechanism will also activate the management and operation efficiency of enterprises.

In 2014, the net interest rate of Wangfujing sales was only 3.48%, which is in the middle position of the same industry. Now it seems that there is still much room for improvement.

It is not difficult to see that

For the actual controller of the three cell investment, after participating in the Wangfujing increase, it will hold 10.99% of the latter and become the second largest shareholder.

The actual control of the other subscribers, the capital of Beijing, will be held by the SASAC of the city of Beijing. After the completion of the issuance, the 34.06% stake will be indirectly held through the Wangfujing international and the Beijing Rui fund. The SASAC will further strengthen the Wangfujing's state owned holding background through the capital management agency.

In this regard, Haitong Securities Business and trade industry chief analyst Wang Liting believes that the three groups of the large proportion of subscriptions to increase the proportion of Wangfujing 50% and locked for 3 years, the two sides are expected to form synergy in the business.

This will be a historical link between traditional state-owned enterprises and private enterprises.

"From the perspective of the current reform of state owned assets, the upgrading of the industry's rate of change in the competitive industry will become the first direction for the reform of state-owned assets.

As one of the largest state-owned retailing enterprises in China, the growth of Wangfujing will not only create conditions for high-quality assets, but also introduce private capital to promote innovation.

Wang Liting pointed out.

As early as 2013, Wangfujing's largest shareholder Wangfujing international bought the spring department store.

Spring department stores were listed in Hongkong in 2009, and the market value reached HK $4 billion 500 million in 2013.

A number of analysts have pointed out that the department store is expected to inject Wangfujing into the Wangfujing in the coming spring, so as to enhance the overall securitization rate of Wangfujing international in A shares.

At the same time, the introduction of three cell group as a strategic investor, Wangfujing has optimized the ownership structure, laying the foundation for the reform of equity incentive in the later stage.

In October last year, Dong Jiasheng had said that in order to make enterprises more energetic, Wangfujing decided to introduce business partnership to allow management to hold shares.