Announced "no real estate", the company’s stock price has reached 7 consecutive daily limits
2021-09-15: [Original Article Link].
A no framework agreement of the recombinant intention notice have made guang yu fa zhan (000537.SZ) continuous out 7 trading.
The "Daily Economic News" reporter noted that in response to the abnormal fluctuation of the company's stock, Guangyu Development issued two announcements on September 8 and September 14, saying that there is no need to correct or supplement the information disclosed in the previous period. In addition, Guangyu Development mentioned the company's asset replacement with Luneng Group Co., Ltd. (hereinafter referred to as Luneng Group) and Capital Weiye Group Co., Ltd. (hereinafter referred to as Capital Weiye), and intends to divest the real estate business, in the new energy field.
On September 5, Guangyu Development announced that it plans to plan a major asset replacement, which will divest the real estate business and enter the new energy field. The company intends to combine its assets and liabilities such as its real estate company and property company equity holdings with Luneng New Energy (Group) Co., Ltd. (hereinafter referred to as Luneng New Energy) held by Luneng Group and Capital Weiye. 100% equity for asset replacement. Luneng Group, the other party of this transaction, is the controlling shareholder of the company, and the capital Weiye is the related party of the company. The controlling shareholders of Luneng Group and Capital Weiye are all China Green Development Investment Group Co., Ltd. (hereinafter referred to as China Green Hair).
At present, Luneng Group has implemented the capital increase of Luneng New Energy. After the completion of the capital increase, Luneng Group is expected to hold Luneng New Energy 18.64% equity, and the capital city Weiye is expected to hold Luneng New Energy 81.36% equity.
In 2009, Guangyu Development issued an announcement to acquire the equity of Luneng Group's Chongqing Luneng 34.5% equity, Yibin Luneng 65% equity, Hainan Luneng's 100% equity, Hainan Sanya Bay 100% equity, hainan Yingda 100% equity, Hainan ying bin Island 50% equity, lu neng gen fu 100% stake in the transaction price of about 5.92 billion yuan. But the first reorganization ended in failure. At that time, the background was that SASAC issued a "check-out order" for central enterprises, which Luneng was involved.
At the end of 2013, Guangyu Development once again disclosed the restructuring plan, and adjusted the proposed acquisition ratio to Chongqing Luneng 34.5% equity, Yibin Luneng 65% equity, Hainan Sanya Bay 100% equity, Hainan Yingda 100% equity, Luneng Wenfu 100% equity, shunyi New Town 80.71% equity, ding rong personally involved 70% equity, Chongqing lu neng ying da 30% equity, price 12.484 billion yuan, at the same time raise matching funds 4.161 billion yuan. The second reorganization still ended in failure after a year and a half, because the letter of the actual controller in the materials sent by Luneng Group was not true.
2016, and in a third they were asked to concentrate on a major reorganization of assets by Luneng initiated will Hainan project pulled off the recombinant asset package contains only Chongqing Luneng, Yibin Luneng, lu neng gen fu, Shunyi New town, Chongqing lu neng ying da 5 companies, transaction Price to 9.111 billion yuan. In November 2017, Guangyu Development officially became the Luneng Group's real estate business listing platform, Luneng Group holding 76.13% shares, become the controlling shareholder.
On the evening of August 10, 2020, Luneng announced that the 100% equity of Luneng Group (related party capital city Weiye) Co., Ltd. held by the State Grid will be transferred to China Green as a whole. The transfer of the China Green registered capital adjustment increased to 40 billion billion yuan, including the operation of investment and investment management, real estate development, property management, property management, etc.
On the same day, Guangyu Development also issued an announcement stating that Luneng Group holds 76.13% of the total share capital of Guangyu Development. After the free transfer of state-owned equity, the company will become a listed company under China Green Hair, and Luneng Group is still the controlling shareholder, SASAC is still the actual controller of the company.
A reporter from The Daily Economic News combed through the financial reports in recent years and found that after the successful reorganization in 2017, Guangyu Development once handed over a very beautiful report card.
For example, recombinant after the success of the 2018, first semi-annual report, guang yu fa zhan revenue of about 9.908 billion billion yuan, a year-on-year growth of 111.55%; Attributable to shareholders of the listed company of the net profit of about 1.669 billion billion yuan, an increase of 465.10% over the same period; basic earnings per share 0.90 yuan/share, an increase of 400% year-on-year. On the underlying such as Chongqing Luneng realized in the very period net profit of about 0.507 billion billion yuan, a year-on-year growth of 826.33%; Chongqing lu neng ying da realization of net profit of 0.229 billion billion yuan, an increase of 4272.36% over the same period.
When Luneng injected its real estate business into Guangyu's development, some market analysis said that "Luneng hopes to use the real estate listing platform to achieve better performance". As the real estate "Dark Horse", Luneng Group 2017, sales reached 89.37 billion yuan, in ke er rui and middle Institute of Enterprise sales topping the list by ranking di 21 bit and 22.
However, after 2018, the names of Luneng Group and Guangyu Development have not been seen on the sales list of real estate companies.
According to the Shell Research Institute statistics, in the first half of this year, in accordance with the "three lines and four" new financing rules, Guangyu development excluding advance receipts after the asset-liability ratio of 75.9%, net debt ratio of 193.8%, cash short debt ratio of 4.20, the two items exceed the threshold and maintain the "orange file" ranks.
At the beginning of this year, Guangyu Development Secretary said on the investor platform that the company has recently increased the expansion of high-quality land resources in accordance with strategic development needs, further improved the business layout, and effectively improved the company's sustainable development capabilities, is conducive to the company's long-term development.
As of the online collective reception day of Tianjin listed companies in 2021, Guangyu Development Certificate Dai Yi Chengru also said that since 2021, the company has obtained two cases of land in Chengdu and Yibin. At present, it is actively tracking the land market situation, and intends to obtain land resources through mergers and acquisitions, equity cooperation, bidding and listing.
In fact, since becoming the largest shareholder of Guangyu Development at the end of 2009, Luneng Group has been seeking various ways to solve the problem of competition in the industry, but the effect is not obvious.
Note: This is auto-translated version of an article meant for Chinese audience. A mature and nuanced reading is suggested.