Brothers Qi battle: Suning Department of capital story, "Second Steps" - Su Ning, chain, Zhang Jindo

 
  Chinese business has always been no shortage of stories of brothers battle, Delong Department of Tang brother, hope Liu Department of brothers have had outstanding performances. Recently played the main character is the brother Zhang Suning Department, as well as the Chang family's small club. Su Ning, the second part of the story lines of capital, excellent level of no less than the first

05 9 28, Jilin Paper Co., Ltd. (000718, * ST Kyrgyzstan paper) and a paper notice, declaration of Suning Universal Group acquired 50.06% * ST's state-owned Jilin Paper stake has been approved by the State- . Despite the subsequent need approved by the SFC, but because the deal has been split share structure reform, the Commission was the trend before the policy, the outside, but walk approved procedures.

From reverse mergers transactions that happy ending: Suning Appliance (000204) ZHANG Gui-ping Zhang Jindong, chairman of the brother control of Suning Universal Group will inject 400 million yuan of assets free paper * ST Kyrgyzstan. Here's an episode is scheduled ZHANG Gui-ping and his son Zhang Kangli by the acquisition of * ST Kyrgyzstan common paper, Suning Universal took over the 35.06% stake, Zhang Kangli buy another 15% stake. Since then, Zhang Kangli announced its withdrawal from the acquisition. With buyers from the 2 into 1, * ST Kyrgyzstan equity transfer paper shall also changed from the 2 yuan 1 yuan. However, since this change so that the M & A transactions framework clearer.
The second part of capital stories
Suning Suning Universal master ZHANG Gui-ping, is Suning Appliance (000204) Zhang Jindong individual shareholder's brother, two brothers early pioneering work, create Suning brand. Liu brothers and lay a new foundation of hope after the attack line similar to the mid 90s of last century, Zhang brothers separately and Jin, Zhang Jindong, specializing in home appliance retailers, Gome form a North-South confrontation with the state; ZHANG Gui-ping is turned to real estate, building materials, trade, mining, aviation and other fields, also Bode total assets of billions of large industries.

Specializing in the industry are different, Zhang brothers, but as extraordinary capital wrist. July 2004, led by Zhang Jindong, Suning Appliance landing Shenzhen SME board, listing the date, a record high price of 32.70 yuan in the stock market downturn Surrounded by the unique market conditions. Suning out in the listing year earnings per share 1.95 yuan on strong earnings; debut capital markets over a year, Zhang Jindong, launched the program 10 to send 2.5 full circulation. There is such a master at the helm, it is no wonder that a listed Suning Electric power has become the darling of the Fund, and became the first high-priced shares in Shanghai and Shenzhen. Zhang Jindong, the paper wealth into real money cash just around the corner.

ZHANG Gui-ping capital market debut of "meet in color," not the slightest inferior to Zhang Jindong: alone hold up the verge of delisting of * ST Kat paper, so that the shareholders of tens of thousands had already fallen into despair, there is a conflict in the Award feeling; in regulatory policies issued prior to 6 days, took out the policy to fall in love with the share reform program, its keen sense of people glance, and that the deal is not only a large number of T class of shares of the Company necessary to change the case when the desk next History of the Chinese capital might also do this to leave a.

Innovation share reform model on September 5, the Commission issued "split share structure reform of listed companies management approach", in which Article 26 clearly the underperformance share reform of listed companies the idea that the split share reform and asset restructuring company combined to encourage the re-side by injecting quality assets, the assumption of debt, etc., to achieve the company's profitability or financial condition to improve as price arrangement. The policy for the class A shares of the company's shares changed T pointed out the way out, but before the policy issued, the market has already emerged related cases?? Suning Universal Imperfection * ST Kat paper.

* ST Kyrgyzstan plight of paper is not a temporary, due to poor management, this company's main paper of the past three years has been a loss, financial situation deteriorated sharply, and 2004 annual reports, its net assets is -2.33 billion, net assets per share -0.58 Yuan, and finally May 13, 2005 suspended from listing. Before that as creditors dun, * ST Kat paper almost as A shares, "the first bankruptcy shares." In such situations were under selling has become a shell of paper * ST Kyrgyzstan inevitable choice of last resort.

This as shell core is: * ST Kat paper carry out a debt restructuring, become a no assets, no liabilities, net non-operating shell company, and then to 1 per Suning Universal bought the paper 50 * ST Kyrgyzstan .06% of the equity shares after the acquisition, * ST Global will implement a major reorganization of assets, according to the assessed value to buy Suning Universal days Huabai Run and China held the 95% Pu-tech shares, Suning Universal full exemption of the two assets transfer price.

Two rounds of debt and equity after the reorganization, * ST Kat paper successfully completed the triple jump, fundamentals reborn: the net assets -2.33 billion cleared, and then rose to 402.779 million yuan, the net per share assets -0.58 element to 0 yuan and then jump to 1.01 yuan; * ST Kyrgyzstan's main paper from the paper changed to real estate development and concrete production and sales. Expected 2005 profit of 20.2012 million yuan, profit of 43.0532 million yuan in 2006, although the absolute value of the earnings expectations are not high, but * ST Kat paper listing can be no fear of security, and since 2001, so The results of the paper with * ST Kyrgyzstan long phase after nearly shareholders.

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