On December 4, a bid for Baoneng system increased, making the stock price of Nanning Department Store soared!
As early as 2015, Qianhai Life Insurance, a subsidiary of Baoneng, began to "ambush" into Nanning Department Store . After hiding for 4 years, the Baoneng Group took action again and became the largest shareholder of Nanning Department Store .
Faced with the fierce offensive of the Baoneng Group, Nanning State-owned Assets took the initiative to "group together" to defend their controlling rights. However, judging from the latest disclosure, until the evening of December 11, Nanning Department Store , the former largest shareholder, Nanning Peining Asset Management Co., Ltd., had not reached an agreement with Nanning Industrial and Agricultural and Commercial Group Co., Ltd. This leaves enough room for imagination to own the controlling stake in Nanning Department Store .
Baoneng System "flash"
Nanning Department Store 7 consecutive daily limit
0 The "Bao Wan Fight" smoke has dissipated for more than three years. In the last month that 2019 is about to end, Baoneng System has once again become the focus of attention in the A-share market.
On December 4, Nanning Futian Investors Co., Ltd. (hereinafter referred to as "Nanning Futian") won the Nanning Department Store 22.9123 million shares of held by Shenzhen Beibu Gulf E-Commerce Co., Ltd., with a transaction price of 83.8591 million yuan.
Nanning Futian is a wholly-owned subsidiary of Ju Shenghua, and the actual controller is Yao Zhenhua .
This transaction, which is inconspicuous in itself, is like a domino. It not only knocked down the starting gun for the stock price of Nanning Department Store , but also completely broke the balance between shareholders of Nanning Department Store .
In fact, since 2015, Qianhai Life Insurance, a subsidiary of Baoneng, has been increasing its holdings in Nanning Department Store .
In September 2015, Qianhai Life Insurance raised its stake in Nanning Department Store for the first time, increasing its holdings of 27.28 million shares, accounting for 5.01% of the total shares. After several increases in holdings, by 2016, Qianhai Life Insurance's equity ratio of Nanning Department Store held by has stabilized at 14.65%.
On April 25 this year, Nanning Department Store announced that Qianhai Life Insurance transferred 14.65% of the company's shares to Nanning Futian, with a transfer price of 8.88 yuan per share, with a total transfer amount of 708 million yuan.
plus the latest winning shares, Nanning Futian holds a total of 218.85% of the shares of Nanning Department Store, exceeding Nanning Peining, the former largest shareholder currently owns 218.26% of the shares of Nanning Department Store. The latter is an investment platform under the Nanning State-owned Assets Supervision and Administration Commission.
The sudden force of the Baoneng system stirred up a pool of unremitting water in Nanning Department Store . Starting from December 4, the share price of Nanning Department Store soared, and the daily limit was hit for 7 consecutive trading days. As of the close of December 12, Nanning Department Store closed at 7.82 yuan, with a cumulative increase of more than 95% in 7 trading days. In just 7 trading days, the market value of Baoneng 's holdings in increased by nearly 400 million yuan.
The surge in Nanning Department Store has also caused the long-silent department store commercial sector to "swell up". Hefei Department Store , Huijia Times (rights protection), Tianjin Quanye and other related concept stocks have also attracted funds to grab funds, and the market trend has been strong recently.
Nanning State-owned Assets Call
Want to "group" to defend the controlling rights
Facing the surprise attack from the Baoneng Group, Nanning Department Store The former largest shareholder could not sit still.
After Baoneng became the largest shareholder of Nanning Department Store , although Nanning Futian replied in writing that "as of the date of issuance of the reply letter, there was no plan to seek controlling rights for the company", it did not dispel Nanning State-owned Assets' concerns.
On the evening of December 4, Nanning Peining announced that it will sign a joint actor agreement with Nanning Agriculture and Industry Group Co., Ltd. (hereinafter referred to as "Nanning Agriculture and Industry" and hold 22.94% of the shares of Nanning Department Store) to form a joint actor relationship to maintain the controlling shareholder status.
However, compared with the Baoneng system's decisive behavior, the "grouping" strategy launched by Nanning State-owned Assets is not very efficient. On the evening of December 11, Nanning Department Store announced that Nanning Peining said, "The approval procedures are still being completed and the agreement for joint actors has not yet been signed."
Compared with the tension of Nanning State-owned Assets, Baoneng currently seems to be "steadily sitting in Diaoyutai".Judging from the current "Ming Card" in the hands of Nanning State-owned Assets and Baoneng Group, even if Nanning Peining "joined" with Nanning Agriculture, Industry and Commerce, it can only obtain 2.35% more shares than Baoneng.
According to previous media reports, the Baoneng Group seems to have a very deterrent "dark card". According to public information, Hong Wanling, the current third largest shareholder of Nanning Department Store , and Leihu Industrial (0.93%), and seem to have a close relationship with the Baoneng Group.
Among them, Leihu Industry and Baoneng jointly invested in Shenzhen Baoneng Zhida Industrial Co., Ltd., while Hong Wanling appeared on the list of executives of several Baoneng-related companies. In response, Baoneng stated that "as of the date of reply to this letter, Nanning Futian has no joint actor relationship or potential joint actor relationship with Hong Wanling, Shenzhen Leihu Industrial Co., Ltd. or other shareholders of the company."
devoted himself to layout for 4 years
Why does the Baoneng system love Nanning Department Store ?
In fact, if we look at the main business and fundamentals alone, Nanning Department Store is hard to say. In recent years, Nanning Department Store has been hovering on the verge of loss, and its net profit excluding non-recurring items was negative for four consecutive years. In 2018, the net profit attributable to shareholders reached 44.8649 million yuan. In the first three quarters of this year, Nanning Department Store turned losses into profits under the measures of strict control of expenses and store transformation, but the net profit attributable to shareholders of listed companies was only 6.0066 million yuan.
In this regard, some market insiders pointed out that Baoneng favors Nanning Department Store and may value the company's "property assets".
Nanning Department Store Company Chaoyang Store, Xinshijie Store and other main stores are owned properties, located in the core area of the urban business district, and are of great value.
On May 15, 2015, Nanning Department Store issued a "Pre-Announcement on the Acquisition of Houses on State-owned Land in Old Department Store Area Projects". The announcement pointed out that the Nanning Municipal Government plans to expropriate houses and attachments on the state-owned land where the south building of the Nanning Department Store building located on Chaoyang Road, Nanning City.
According to the expropriation and compensation documents disclosed on the website of the Nanning Housing and Urban-Rural Development Bureau, the total area of expropriated buildings is about 34,583 square meters, of which the residential area is about 3,752 square meters and the non-residential area is about 30,831 square meters; the total estimated amount of the project housing expropriation compensation and resettlement expenses is 851.9605 million yuan.
This article is from China Securities Journal
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