Why Cedar Holding Hinur's Stake?

After the controlling shareholder was changed last year, the bridegroom was produced.

Hinur (002485, SZ) is now like a son-in-law with no autonomy at all.

According to the world clothing and shoe net, in April 9th, he announced that he had recently received a notice from the controlling shareholder, Guangzhou cedar Culture Tourism Investment Co., Ltd. (hereinafter referred to as "Cedar Holdings"), and was informed that some of the shares of Guangzhou cedar holding company were being mortgaged.

Cedar holdings was the first to pledge the sale of the company's shares since 2017 when it became a controlling shareholder in June.

But for the first time, let the new financial observation Xiaobian goggle: cedar holdings almost pledged all the shares held by Hinur.

As of the announcement date, cedar holdings held 203 million 600 thousand shares of sunor shares, accounting for 63.62% of the total share capital of the company.

The pledge has 200 million shares of the company, accounting for 62.51% of the total share capital of the company, accounting for 98.24% of its shares.

The new financial observation notes that the purpose of this pledge is financing.

With the closing price of 26.50 yuan / share in April 9th, the market value of cedar stock held by cedar holdings reached 5 billion 300 million.

The market value of the mortgaged stock is much higher than that of cedar Holdings Hinur.

Last June 13th evening, he issued a notice that the Guangzhou cedar Cultural Tourism Investment Co., Ltd. (hereinafter referred to as "Cedar Wen brigade"), which was indirectly controlled by cedar holdings, received about 200 million shares of the company with a consideration of about 4 billion 200 million yuan, thus becoming a new controlling shareholder.

It is worth noting that the development of the replacement of the eastern family of the city was not until March this year.

Hinur also set foot in several travel events in March.

In March 24th, he announced that the company and the Zhongfu Strait (Pingtan) development Limited by Share Ltd signed the "Xitang item company share pfer intention letter", to acquire the 100% stake in Beijing Zhongfu Hong Wah Scenic Area Tourism Development Co., Ltd. and item company Jiashan Beijing Xitang tourism development limited liability company and Jiashan Jiashan tourism development limited liability company.

The March 26th supplementary announcement shows that the consideration of stock pfer is not expected to exceed 400 million yuan.

And just 10 days ago, Hinur also disclosed that it would cost 140 million to buy Wen brigade assets.

In March 14th, he announced that he would buy 100% stake in Shangri-La Renhua Real Estate Co., Ltd. and 90% stake in Xi'an Tian Nan Cultural Tourism Development Co., Ltd.

Whether the sector will be taken as the main business after the acquisition of the assets, or whether the main business structure of the future will change, Hinur told the media that it will not change the existing business.

In the case of main business, the main business is properly adjusted and optimized.

However, in the observation and exchange with the new funds, a Shandong capital circle people had a misgivings: as the first private enterprise in Guangzhou, after cedar holdings took the lead, it did not give the listed company much money, but it took about 5000000000 of the market capitalization equity financing.

New financial observation notes that he is not the first Shandong listed company controlled by cedar holdings.

In November 2016, cedar holdings purchased Qi Xiang Tengda (002408, SZ) for 4 billion 800 million cash, which also marked the first time that cedar holdings holding a 100 billion yuan assets owned a A share listed company platform.

After sitting on two Shandong listed platforms, cedar holdings did not stop buying and buying.

Behind the frequent acquisitions, it shows its ambition to expand.

In the evening of February 26th, Meng Shi Technology (002684, SZ) issued a notice. The controlling shareholder, Shantou Chenghai District Humei Battery Co., Ltd. intends to hold the voting rights of its 139 million stake, and entrust cedar holding company Guangzhou Xinhui Klc Holdings Ltd to exercise, which accounts for about 24.52% of the total number of technology shares.

Insiders pointed out that since the implementation of the most stringent new rules for merger and acquisition in the history of A shares in September 2016, cash based mergers and acquisitions and industrial mergers and acquisitions are emerging behind the changes in quantity. Leading enterprises with abundant cash flow are becoming the ultimate beneficiaries of this round of changes.

As a private enterprise in Guangzhou, cedar Holdings has a revenue of 157 billion yuan in 2016 and won the first batch of Guangzhou local private enterprises' revenue scale.

However, it is not known whether the funds of cedar holdings are under pressure after three consecutive moves.

But now there is a fact that can not be ignored. After using its own funds to become a major shareholder of Qi Xiang and Shiner in Tengda, cedar holdings, which is difficult to trace in the inter-bank bond market, has already raised the stock of shiner.

Before the financing of Shiner, Qi Xiang Tengda had a similar fate.

Last July 4th, Qi Xiang Tengda announcement disclosed that the controlling shareholder Zibo Qixiang Petrochemical Group Limited pledged 744 million shares of its company, the pledge accounted for 80.05% of its shares, used for pledge loans, and the expiration date of the pledge was June 30, 2020.

From the perspective of equity relations, cedar holdings owns 71.50% stake in the group.

After the equity pfer in November 2016, Jun Hua Group held an indirect holding of 41.90% of Qi Xiang Tengda because of its 80% stake in Qi Xiang group.

Information from the eastern fortune unit shows that in April 10th of last year, shareholders asked Qi Xiang, Tengda secretaries: will the company's actual controller, Jun Hua group, pledge all the shares of Qi Xiang, a major shareholder of the company? Will there be a risk of another change in the listed company? Is there any relationship between the continued decline in share prices and the recent changes?

Qi Xiang Tengda's reply is: at present, the company has not yet received the exact information, it is difficult to reply.

For the home of cedar holdings, the relevant audit documents have not yet been found in the new financial observation.

But for a good old age, Lu Yao knows horsepower.

In a securities trader's view, the more cedar holdings participate in the A share market, the more publicly its own assets will be.

How many families are there in Cedar holdings?

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