Http://www.caijingshibao.com/mag/preview.aspx?magyear=2004&yearissue=550&treeid=293&nodeId=7491&otid=7491
If you have a child, you can turn your child's mother's mother as a subsidiary, and a subsidiary that is optimistic about the cash flow into a parent company. Recently, this capital magic is in China Digital (0250, HK) and Nanhai Holdings ( 0680, HK) staged, and this magic protagonist is the second-generation owner of Hong Kong, "Ming Pao", who is known as "Magic Kid", "Ming Pao". His zero-purchased financial skills and cleverly realized this asset movement.
In the middle of the inside of the inside, it should not be unfamiliar with Mr., in mid-August 2003, Standard & Poor's company is a strategic alliance, jointly launch securities and monetary comments, this is secretly connected to the international institution Shihua, is a business.
Mother and child transmissions China Digital (0250, HK) is a Hong Kong listed company, Nanhai Holdings (0680, HK), which is mainly provided in China, is the holding subsidiary, the main business is the property investment and development. ஸஸ ஸஸ 海 海 现 现 中国 数 码 6 6 6 6 6 6 6 6 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司 公司. China's digital holds 67.71% of the South China Sea Holdings, is converted, and the rights and interests of the South China Sea are 26.8%. However, after a dazzling share share between China's digital and the South China Sea, it does not require additional cash in the sea, but the rights of the South China Sea will increase significantly from 26.8% to about 47.66%. After the restructuring, the "mother and child relationship" between China's digital and the South China Sea is completely reversed: Yu Pinghai and CITIC will share with 71.9% of the South China Sea, and the South China Sea holds China's digital 62.85% equity. Nanhai, which is less than 450 million Hong Kong dollars, will also become a Chinese digital holding company of HK $ 3.8 billion, forming a situation of "small control". ஸஸ ஸஸ 海 海 will complete the "mother and child transposition": he subscribes to China Dollar China Digital Convertible Shares, and China's digital has been sold by HK $ 200 million to subscribe to 11.11 billion South China Sea convertible stocks. Nanhai uses the resulting 200 million Hong Kong dollars are also funded in Power Ocean Investment (a expired convertible ticket). ஸஸ Then China's digital convertible stocks shall comprehensively exercise the share options, increasing China's digital, and China's digital divisions are distributed to shareholders in the shareholders of the South China Sea equity, and the proportion of China's digital change is 1.5756 South China Sea. After the assignment, the South China Sea will spend 976 billion Hong Kong dollars, half of which is paid after the issuance of new shares, half of the way of cash payment within 60 days after the entry into force of the restructuring agreement, to the China Digital Shareholder and Chairman Yu Yaihai and CITIC to acquire China Digital The equity, China's digital, the subsidiary of the South China Sea Holdings.
ஸஸ Due to the reorganization, Yu Qihai has triggered a full purchase in the South China Sea, and the latest announcement in the South China Sea said: Since the final control is unchanged, the company is applying for exemption to the regulatory agency.
Zero-in-this acquisition of financial skills If the restructuring is successful, this will be the excellent financial skills of zero acquisition in the third time of the sea. ஸஸ ஸஸ 海, 45 years old, the people in the Hong Kong capital market, is good at serializing. The public information describes those who are well-known, language is flat, but the momentum is reluctant, with natural leaders. ஸஸ ஸஸ 品 海 海 海: 日 日 日 日 日 日 新闻 新闻 新闻 新闻 新闻 新闻 美国 新闻 新闻 新闻 新闻 新闻 新闻 新闻 专业 专业 专业 新闻 新闻 新闻 新闻 新闻 电 电 新闻 新闻 新闻 专业 经济 经济 经济 经济 经济 经济 专业 经济 专业 专业 经济Moved to the Philippine listed company - Acacesite (Phils.), The owner of Hilton Manila; 33 years old (1992) acquired the South China Sea Development in Hong Kong (after the change of China's digital), from Jin Yong's "Ming Pao" in the same year, become "Ming Pao" The second generation of owners; 39 years old (1998) Operation TV (CTN), once built his media kingdom, but finally loses $ 100 million; 41 years old (2000) acquired SAVOY through its China Digital Concepts Co., Ltd., renamed Nanhai Holdings, the roll is coming ... so extraordinary experience, let the product have obtained the title of "Magic Kid". After three years of acquiring the Hilton Hotel Manila, the first time in the sea, the old factory in the Old Factory of Cash, Stock, Nanhai Development (later China Digital), has made an asset shift: first The South China Sea has purchased the ACESITE (Phils.) Of the ACESITE (Phils.) In the sea. The South China Sea has become a parent company of ACESite (phils.) After the ownership of the equity, it will acquire the South China Development Holder Shareholder Tang Wei. South China Sea Development stock, became the chairman of the major shareholders and board of directors of the South China Sea. After that, the old factory building in the South China Sea has increased the cash flow. In this acquisition, the clarvilization of the goods unfair in the sea smartly use the integration skills, and did there, there is no ornament, and is called zero-purchased prices by the outside world.
Sell China Digital? ஸஸ This restructuring, the square has been guessing is to sell China's digital paving for the next step in the sea. China's digital spokesperson did not respond to this guesses, only the recombination helps China's digital and South China Holdings two listed companies are more clear. However, analysts believe that the restructuring does not affect the business structure of the two companies, nor will it lead to more clear business, but change the equity architecture and means that CITIC may play a more important role. ஸஸ ஸஸ However, China Digital Disclosed in 2003, 2002 is lost in 2002, earnings 13.85 million Hong Kong dollars, and the profit of Nanhai Holdings sharply retreats 99.96% to 190,000 HK The securities industry commented: China's digital transformation is successful. ஸஸ At present, China's digital formation of three blocks: real estate, IT and cultural fields. The company's development core is the IT field mainly based on enterprise information application services, financial information services and distance education. ஸஸ In August 2003, China's digital network (a supplier of national development application services) (a supplier of national development application services, "China Enterprise Network") announced that the joint-stock transformation has been completed and entered the domestic A-share number, At the same time, it is renamed as China-www.300.cn. ஸஸ In the past few years, Yu Shi also provides China's digital flag of Financial advice, invested 300 million to 400 million yuan, and Shihua has now started profit, and will consider the spin-off listings in the future. ஸஸ If the two companies will be separated from the domestic A stock market, China's digital "money" is inquiry. ஸஸஸஸ Only 51% and 25% respectively, the gross profit margins of China.com have exceed 51% and 25%, respectively. And China's digital long distance education application software business is also optimistic, in August 2003, in the field of China and the United States, China and the United States, the Sino-US network language teaching project, the project can bring 46 million yuan in the next few years. Renminbi income. After China's digital, a new composite media information platform has been flicked. Yu Pinhai will cultivate hard, gradually entering the best China Digital sale? "We will continue to focus resources in the development of enterprise informationization and financial financial information business, and cooperate with business expansion in the field of distance education, culture and communication." For the development of China's digital future, it has always been full, and even said The company will acquire several companies related to corporate information technology.
The far water is difficult to discover to thirst but if you do not sell China's digital, you must face the debt crisis in the sea. ஸஸ China Digital 2003 Interprimant Report showed that the liquidity bonds were approximately HK $ 1.819 billion, with only about 81 billion Hong Kong dollars, the flow ratio is obviously low, and the definition pressure is huge. At the end of September 2003, the flow assets of approximately 245 million Hong Kong dollars (HK $ 34.37 million), the flow liabilities were about 918 million Hong Kong dollars, the speed ratio was only 0.26.2003, the South China Sea has been Bank discusses the debt or extension of the debt, and the release of the restructuring agreement on December 31, the South China Sea exactly more than 200 million debts. ஸஸ In 2002, China Digital once issued 400 million yuan to the major shareholders in Pinghai, according to the agreement, Yu Shi can request a company to issue 200 million bills at the end of March 2003. However, this transaction has been postponed, until the end of December 2003, and became an opportunity to acquire the South China Sea. The outside world believes that the two degrees of extension is also because of China's digital debt problem. ஸஸ Although the current debt pressure of the South China Sea is the most important, many real estate investments are expected to start in 2003. In the next two years, the net cash flow is very optimistic. Two-phase comparison, although China's digital is optimistic, but far water can't gain a neighbor, Yu Pinghai must be pragmatic will naturally choose the South China Sea. This is 200 million Hong Kong dollars payd by the Qianhai to China, and finally turned to the South China Sea. It can be seen in the contemplation.
