CSI Interpretation: Shenzhen Huaqiang acquisition Xianghai Electronics overweight electricity provider business

Published: 20:25:39 2015/5/20 20:25:39  Views: 2795




Message shares Summary: Before May 20 Alert ten stocks overall increase of 9(http://www(Finance News http://www.fireinews.com/).fireinews.com/).06%










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Zhongzheng Wang hearing the evening of May 20, more than two-month suspension of Shenzhen Huaqiang (000062 unveiled assets acquired, the company intends to issue shares and pay cash to buy 100% stake in Xianghai Electronics, which means the Shenzhen Huaqiang enhance the layout in the electronics distribution industry. The company's shares will be May 21 opening date resume trading.



Shenzhen Huaqiang announcement shows that the company intends to electronic shareholder Yang Xianghai, Zhang Ling, Tracing to, Hanjin Wen issue of shares and cash to buy the target holds 100% stake in Xianghai Electronics, while the Huaqiang Group and Hu Xinan, Zheng Yi, Wang Ying, REN Hui - Min, Hou Junjie non-public offering of A shares to raise matching funds 25,850.00 million for the payment of the transaction cash consideration.



It is worth noting that the transaction does not constitute a major asset reorganization backdoor listing does not constitute, according to << restructuring management methods >>, the transaction does not constitute a major asset restructuring of listed companies, but the transaction involving the issue of shares to buy assets, need submitted to the China Securities Regulatory Commission [microblogging] review. Upon completion of this transaction, Huaqiang Group holds a 70.74% stake in the company, the controlling shareholder and actual controller does not change, the transaction does not constitute a backdoor listing.



According Dezhengxin asset appraisal report issued this assessment uses the income approach as the final results of the assessment, as of December 31, 2014, the underlying assets attributable to the equity Xianghai electronic book net assets of the parent company 27,924.88 million, the value of the Income Approach to 103,400.00 million.



Compared to the net assets, high premium rate of the acquisition of Shenzhen Huaqiang, but the other side is given a three-year deal to add 300 million yuan profit promise. Yang Lin, Zhang Ling, Tracing to and 韩金文 commitment in the performance commitment period (2015 --2017, the Xianghai Electronics can achieve 2015 - 2017 after deducting non-recurring gains and losses net profit attributable to shareholders of the parent sum not less than 30,104.54 ten thousand yuan if the performance of the expiry of the commitment period Xianghai Electronics cumulative net number is not reached. the Yang Lin, Zhang Ling, Tracing to and Hanjin Wen agreement shall be compensated.



Market participants pointed out that after the transaction is completed, will enhance the layout in Shenzhen Huaqiang electronic distribution industry, electronic components industry to have more customers upstream resources, to serve more customers online, and can significantly improve the power of the Internet Xianghai Electronics channel power quotient field to further cover a large number of more small and medium enterprises to expand their business scale. At the same time, in recent years, Xianghai electronic business has developed rapidly, the rapid increase in profitability year after year, this transaction will help to form a new listed company earnings growth.




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