A-share home appliance No. 1 brother has reached a new level.
Midea Group and Little Swan A both announced that the Merger, Acquisition and Reorganization Committee of the China Securities Regulatory Commission reviewed the major matters of Midea Group’s absorption and merger of Little Swan A on Wednesday, and the share swap and merger of was unconditionally approved.
Midea Group, the leader in the home appliance industry, and the shares of Little Swan controlled by it will resume trading on February 21 (tomorrow).
As one of the top A-share home appliance stocks, Midea Group’s latest total market value is 303.1 billion yuan, and Little Swan’s total market value based on A-shares is 34.3 billion yuan. The total of the two is 337.4 billion yuan.
Since the announcement of the merger plan on September 9, 2018, the stocks of Midea Group and Little Swan A have increased by 14.34% and 16.75% respectively, with a total market value increase of approximately 40 billion yuan.
According to the performance forecast released by Midea Group on the evening of January 14, the profit in 2018 is expected to be 19.8 billion to 20.8 billion yuan, with a year-on-year growth rate of 15% to 20%.
However, just the day before yesterday, Fang Hongbo, the chairman of Midea Group, received a warning letter from the Guangdong Provincial Securities Regulatory Bureau and a letter of concern from the Shenzhen Stock Exchange because he made an advance announcement about the company's performance before the performance forecast on January 14 this year. speech.
337.4 Billion home appliance leader is coming
Midea and Little Swan announced that on February 20, 2019, the China Securities Regulatory Commission’s Listed Company Mergers, Acquisitions and Reorganization Review Committee held its 4th working meeting in 2019 to exchange shares for Midea Group’s issuance of A shares. The stock absorption and merger of Wuxi Little Swan and related transactions were reviewed.
According to the review results of the meeting, this share exchange and absorption merger was approved unconditionally.
Midea Group Company shares and Little Swan A shares and B shares will resume trading on the morning of February 21, 2019 (Thursday).
At present, the company has not received the formal approval document issued by the China Securities Regulatory Commission. The company will make a separate announcement after receiving the relevant approval document.
The market value of the two companies has increased by 40 billion
Before the merger plan was released, the market value of Midea Group was 267.1 billion yuan; the market value of Little Swan, which it controlled, was 29.4 billion yuan, and the total market value of the two was 296.5 billion yuan. Today, the total market value reaches 337.4 billion yuan, an increase of 40.9 billion yuan. After
released the merger plan on the evening of September 9 last year, both stocks were suspended from trading until they resumed trading on October 29 of that year, first falling sharply and then rising rapidly.
Since the merger plan was released on September 9, 2018, the stocks of Midea Group and Little Swan A have increased by 14.34% and 16.75% respectively, and their total market value has increased by more than 40 billion yuan.
Midea Group earns 20 billion yuan a year
Midea Group released a performance forecast on the evening of January 14, predicting net profit in 2018 of 19.8 billion to 20.8 billion yuan, a year-on-year increase of 15% -20%.
announced that during the reporting period, the company focused on improving product strength, promoting lean management and excellent operations throughout the value chain, grasping the industry consumption upgrade trend, continuously optimizing the product structure, increasing the proportion of mid-to-high-end products, and continuing to improve profitability. The chairman of
has just received a warning letter and a letter of concern.
has a revenue of 20 billion and has grown steadily. However, Fang Hongbo, chairman of Midea Group, has received a letter of warning and a letter of concern.
html On February 18, the Guangdong Provincial Securities Regulatory Bureau and the Shenzhen Stock Exchange issued warning letters and concern letters to Fang Hongbo respectively because Fang Hongbo disclosed his performance in advance. Previously, Dong Mingzhu, chairman of Gree Electric Appliances, a competitor of Midea Group, received a warning letter and a letter of concern in advance due to the same problem.Fang Hongbo received a letter of warning and concern mainly because Fang Hongbo made a statement at the 2019 Made in China Forum held on January 12, 2019, that Midea Group’s estimated pre-tax profit in 2018 would exceed 26 billion yuan. Midea Group’s The company's 2018 performance forecast was released on January 14, 2019.
This article comes from China Fund News
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