Wuhan State Owned Assets Test The Capital Operation Of Sports Industry

After three consecutive days of gains, the share price of contemporary style (600136. SH) reached its recent peak on July 13, up 8.10%. It closed at 6.11 yuan on July 15.

On July 13, the announcement of contemporary culture and sports showed that the company recently received the reply on purchasing shares of contemporary sports and sports issued by Wuhan SASAC forwarded by guochuang capital. In principle, the state owned assets supervision and Administration Commission of Wuhan agreed that Wuhan guochuang capital should acquire the controlling right of Wuhan contemporary sports and sports. As of the disclosure date of this announcement, all the effective conditions of the above voting rights entrustment and abandonment have been met, the company's controlling shareholder has been officially changed to guochuang capital, and the actual controller has been changed to Wuhan SASAC. In the future, guochuang capital will transfer 1.94% of the company's equity by block trading according to the cooperation agreement.

Liu Yan, an analyst at Southwest Securities Research and development center, told the 21st century economic report that "private capital and national capital are two inseparable subjects in the development of cultural and sports industry. The ownership of state-owned capital can provide great convenience for the company, thus bringing the growth space within the industry to the company. " In addition, the company has the background of state-owned capital, which can reduce the financing cost to a certain extent.

As far as the state-owned assets of Wuhan are concerned, taking the assets of a culture and sports industry into the arms also makes the territory of state-owned assets of Wuhan expand again.

Strategic adjustment of contemporary group

As of June 22, the top three shareholders of contemporary sports were Wuhan Xinxing Hanyi Chemical Industry Co., Ltd., Wuhan contemporary science and Technology Industry Group Co., Ltd. and Jiang lizhang, with shareholding ratios of 13.73%, 13.66% and 8.02%, respectively.

Prior to that, AI Luming, then the parent company of contemporary sports holding company, founder and chairman of contemporary group, said in an interview with 21st century economic reporter, "since 2018, the contemporary group has been based on the innovation of new technologies and new products. The group has focused its strategy on biomedicine, modern tourism and other industries, and has gradually withdrawn from the sports industry, It is also the embodiment of this kind of focusing and refocusing idea. "

At present, in addition to the contemporary style, the main listed companies of contemporary group are Renfu Pharmaceutical (600079. SH), Sante cableway (002159. SZ), etc. From the current development of the company, the contemporary group is indeed from the past multi industry expansion, gradually focusing on the field of segmentation, in order to continuously build core competitiveness.

In terms of biomedical field, on July 1, the company went to the next city in the narcotic analgesic plate. According to the CDE official website, the new indication of "rimazolom besylate", a new class 1 new drug of Renfu pharmaceutical, was put on the market. According to the development of clinical trials, it is speculated that the indication may be induction and maintenance of general anesthesia, which has advantages over the traditional use of midazolam and propofol.

In addition, in terms of modern tourism, Sante cableway released its performance forecast on the evening of July 14, saying that the net profit in the first half of the year is expected to be about 2 million yuan to 8 million yuan, making up losses year on year. The company said that the performance change was mainly due to the good business recovery of various projects of the company during the reporting period, and the operating income increased by nearly 160% compared with the same period in 2020. Specifically, thanks to the opening of new projects and the optimization of marketing strategies, the tourist reception and business income of Wuhan East Lake Ocean Park and Guizhou Fanjingshan project in the first half of the year have reached the best level in the same period of history.

The revenue of contemporary culture and sports in 2020 is 700 million yuan, which is 60.74% lower than that of 1.782 billion yuan in 2019, continuing the downward trend of performance in 2019.

Liu Yan, an analyst with Southwest Securities Research and development center, told the 21st century economic report: "the company's operation was seriously impacted by the epidemic last year, many sports projects were forced to stop, and the performance was low. However, it is expected that the performance in the first half of this year will be significantly improved because of the good operation of events such as the European Cup, which will be reflected in the company's newspaper, and this year's performance will be significantly improved compared with the previous two years. "

Contemporary style also said that after the epidemic, the company's main business has gradually recovered. The company owns the copyright of new media in mainland China and the rights and interests of global sponsors of UEFA national team competitions from 2018 to 2022. It is also the exclusive business partner of Asian Football Association in 2021-2028. In the second half of this year, the 2020 European Cup has come to an end, and the top 12 Asian qualifiers for the 2022 Qatar world cup are about to start. In terms of film and television, the realistic theme TV series "meritorious service" and "happiness to all families" selected for the third batch of key TV series planning topics in 2018-2022 of SARFT are expected to be broadcast in succession within the year. The new drama "life" has entered the preparatory stage and will soon be launched.

After the state owned assets became the owner

In view of this equity change, contemporary style says that the company will take this as a new starting point, rely on the platform of guochuang capital to release new kinetic energy, strengthen the combination of industry and finance, and realize industrial upgrading. In the future, the company will continue to support the main business of "film and television + sports" and promote the sports industry in Wuhan to become bigger and stronger.

According to qixinbao data, guochuang capital's shareholders are Wuhan commerce and trade group, Tianfeng Tianying and Yangluo Zhongyang, holding 45%, 35% and 20% respectively. At present, the listed companies directly participated in by Wuhan business group include Jianmin group, Tianfeng securities, Ma Yinglong, Wuhan Wushang, Baichuan energy, Sante ropeway, Zhongbai group, etc《 The comprehensive report of Wuhan Municipal People's Government on the management of state-owned assets in 2019 shows that by the end of 2019, 3875 units (enterprises) were included in the statistics of the state-owned assets report of the whole city, with total assets of 3100.61 billion yuan, an increase of 15.5% year-on-year; Total liabilities totaled 2266.184 billion yuan, up 16.7 percent; The total amount of owner's equity (net assets) was 834.426 billion yuan, an increase of 12.5%.

In terms of Industrial Synergy, Liu Yan said: "at present, Wuhan state-owned assets have not disclosed its specific assets in the sports industry, but according to the company's announcement, at least in terms of policy and capital, state-owned capital will have many advantages." In his opinion, "private capital and state capital are two inseparable subjects in the development of the cultural and sports industry. In the past, this part of business was done in the form of private capital. If there was a state-owned capital background, many businesses would be accelerated and problems that could not be solved would not be encountered. The ownership of state-owned capital can provide great convenience for the company, thus bringing growth space within the industry to the company. "

In recent years, after the completion of the new layout of Wuhan's state-owned assets and sports industry in and out of the capital market, the territory has become more and more plump.

At the end of 2018 and the beginning of 2019, hanshang group and Wuhan Zhongshang changed their ownership respectively. At that time, from the central government to the local government, they all emphasized that state-owned capital should play a leading role in innovation and high-end science and technology. For traditional industries with full or even excessive competition, state-owned capital should withdraw as soon as possible and not participate too much.

The official of guochuang capital said: "the successful merger and acquisition of contemporary style will add another listed company to the business group system, which is also an important step in the transformation and development of guochuang capital."

Liu Yan also said: "although in the medium and long term, after the change of the actual controller, the company's development is good, but at present, the specific implementation of which matters are not known."

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