Oriental Morning Post
Morning Post reporter Chen Hua
During the two years, had to rely on Hong Kong-listed electronics chain business Rongdeng "Mainland's richest man," Wong Kwong Yu, its real estate business will now be packaged to the A-share listed.
Yesterday, the Zhongguancun (000,931) issued a notice through the issuance of orientation, will acquire Beijing Zhongguancun Peng Run-estate Holdings Limited 100% of the shares. At this point, Gome (0493. HK) Board Chairman Wong Kwong Yu name another heavyweight Peng Run-estate assets - valued 18 billion yuan will be landing A-shares. Once the final visit, Wong Kwong Yu prices will quickly surpass 50 billion yuan mark, and is expected to recapture the "richest man" throne.
It is learnt that the current capital injection programme has submitted the China Securities Regulatory Commission approval, and the suspension has reached more than seven months of the Zhongguancun will be resumed trading today.
Wong Kwong Yu family holdings 72.58%
According to the Zhongguancun (000,931) yesterday's announcement, May 4, Beijing Zhongguancun Science and Technology Development (Holdings) Co., Ltd. held its third annual board of directors 2008 fourth interim meeting to consider the adoption of "non-public offering on the purchase of shares暨关联交易plan assets. " Zhongguancun will be the controlling shareholder of Thai Peng investment and concerted action by people of non-public offering of shares for the acquisition of its combined holdings of Beijing-Peng of China Real Estate Holdings Limited 100% of the shares.
According to reports, the scale of this capital injection of about 18 billion yuan. Quasi-public offering of shares of not more than 1.227 billion shares, non-public offering price for the resolution of this notice before the board on the 20th stock average - 14.67 yuan / share. After the completion of the transaction, the total share capital of the Zhongguancun will not more than 1.921 billion shares. At present, the total share capital of the Zhongguancun 675 million shares.
It is understood that the object of this issue for Peng Thai investment, science and technology, and Wong Kwong Yu-peng of the Hong Bao Mei Huang Xiuhong. Peng and Thai investment, Peng Kang technology for the actual control of the per capita Wong Kwong Yu. They are the subscription of shares in 36 months shall not be transferable. The non-public offering of shares to buy assets暨关联交易completed, Pang Thai investment is still the controlling shareholder of the Zhongguancun (share of 46.78 percent), Kang Peng accounted technology (12.90 percent), Huang Xiuhong accounted (12.90% ), The other shareholders accounted for 27.42 percent.
Wong Kwong Yu, I absolutely Zhongguancun is the controlling shareholder. Run through the Beijing-Peng Investment Company Limited and Beijing Gome, Wong Kwong Yu-peng Thai investment holding 80 percent of the equity holders Peng Kang 82.59 percent stake in technology, so after the completion of asset injection, I hold in Wong Kwong Yu Guan Cun 48.11 percent stake, but he and Huang Xiuhong and concerted action of shares held by the Zhongguancun has been as high as 72.58 percent.
10 large projects into
"180 billion in assets only note the employers are given an assessment of the value of the real value depends on specific projects." Market analysts Wang Shujuan told reporters.
Wang Jun, executive vice president of the Zhongguancun yesterday, the listed companies into the projects include: the International Xie Cheng Kang, Peng Run-founding of the hotel project, the Chongqing Peng Run-BlueOcean residential projects, Cathay Pacific Plaza Chongqing Jiefangbei , Battery plant in Wuxi, Shahe, respect of the building project, Songzhuang, Cui Coal project, Zhang Jiawan projects, 10 projects. Before Peng of China's real estate concerns Pengrunjiayuan, all American States and other large real estate projects, since it has been sold, so not into the Zhongguancun.
Among them, Chongqing Jiefangbei Cathay Pacific Plaza located in the centre of the city of gold (195.87,0.56,0.29% point) commercial lots, building area of 94,000 square meters, covers an area of 29,200 square meters, will start the construction of the second half of 2008 , Is expected to be reached in mid-2010 delivery standards. Chongqing Peng Run-BlueOcean residential project covers an area of 246,800 square meters, construction area of 644,200 square meters, the first phase of the project is expected to reach the second half of 2008 delivery standards. Wang Jun said that these projects will bring substantial business sales and rental income and returns, coupled with Uehara Zhongguancun operating real estate and the United States and Lun-North District, Harbin, the company's development projects, completed projects and reserves Projects are very adequate.
According to Wang Jun analysis, to inject assets are located in Beijing, Chongqing, Wuxi and other Chinese one, the second-tier cities in the highly value the development of a prime site, will fully enjoy the sales, rental income and property values continue to grow, and create broad performance Room to grow. The assets to be injected into a land development, land and real estate consolidate the development of the two joint development, residential and commercial development of the organic integration of real estate, will ensure the profitability of listed companies of sustainable growth.
Zhongguancun "freshmen"
Zhongguancun said the notice, through the reorganization of assets, Wong Kwong Yu shares to fulfill the commitment, "Zhongguancun will usher in historic change."
As early as 2006, Peng Thai investment had begun to intervene in the reorganization of Zhongguancun, in "The acquisition of the report" in the pledge, in Zhongguancun CD-MA properly resolve the issue of security and the efforts of the parties to resolve the listed company or the other Liabilities, overdue loans, tax disputes and other issues, listed companies can ensure that the assets and funds under the premise of safety, Peng agreed to invest in Chinese listed companies to find or inject high-quality real estate projects and to provide some financial assistance to help clear a listed company The main industry and enhance its sustained profitability.
Since then, Wong Kwong Yu through more than a year of efforts to defuse the amount of 3.39 billion yuan huge amounts of money involved in the CDMA security risk; Zhongguancun help solve the more than 10 billion of debt. To this end, Wong Kwong Yu-peng held by the Thai investment has supported the Zhongguancun several hundred million dollars to resolve the difficulties in Zhongguancun.
But as a just experienced restructuring and reform of the shares of listed companies in 2007, Zhongguancun in resolving the large number of bank debt restructuring and security issues, long-term, healthy development of the then highlighted.
As at December 31, 2007, Zhongguancun Science and Technology accumulated losses of 1.103 billion yuan, the adverse financial situation, the main business is not prominent, and lack of development potential still existed. The company healthy, rapid and sustainable development there is still more difficult.
After the reorganization, "Zhongguancun" clearly the development of enterprises will be the main industry, the company's rapid development. It is learnt that after the reorganization of the Zhongguancun Development will focus on four plates. One for residential development, the second is to hold property of the leasing business (such as business, hotels, office buildings); Third for the development of science and technology park, the fourth is a land development. From these sections, the operating assets will be injected into the company to provide a stable operating income and profit from a film into the land development business, the company access to policy support, stability, development and future profits of two land Lay a good foundation for the reserves.
Peng Thai investment in the hope that through this transaction, Zhongguancun is not completely clear from the main business, debt rate of high and new business development, such as poor plight into a residential real estate developers and technology as a platform for real estate listed companies.
According to Wang Jun is expected to complete after the injection of assets, Zhongguancun in 2008 and 2009 net profit will reach 450 million yuan and 700 million yuan and above. Accordingly, the Zhongguancun in 2008 and 2009 earnings per share were 0.234 yuan to 0.364 yuan and.
Wong Kwong Yu and lose in the stock market
In addition, the length of suspension because of Zhongguancun, in this market during the crash, Wong Kwong Yu choice at this time and cost-injection, the terms of his old shareholders to "lose" 4 to 5 billion yuan of assets.
It is learnt that the September 28, 2007, "Zhongguancun," the official suspension, then the large inventory of close to 5600, in accordance with the provisions of this non-public offering price based on the notice board before the 20th trading average of 14.67 yuan / Unit. The first time in nearly seven months, the market index was down about 50 percent, but due to major shareholders still more than seven months ago of 14.67 yuan per share conversion price will be about 18 billion yuan into high-quality real estate projects listed companies, investment and Peng HO Wong Kwong Yu, to the actual holders of the total equity reduced by about 400 million shares, equivalent to the listed company posted a 4-5 billion yuan of assets.
Wang Jun said, in fact, this pricing benefits, "Zhongguancun," the small and medium-sized shareholders, will be more than 600 million old shares a virtual stock reinforce the role of thick mats will share net assets and earnings capacity To ensure that the "Zhongguancun" the interests of small and medium-sized investors.
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