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Cui Wei'S Acquisition Of The Contemporary Shopping Mall, The Building Of Gan Jia Kou Is Rejected.

2014/7/5 6:56:00 25

Cui Wei Acquisition Contemporary Commercial City

"P > < a href= > //www.sjfzxm.com/news/index_c.asp > > premium < /a > 70% is denied .
 December 13, 2013, Cui Wei shares issued a notice that the company issued shares and paid cash to buy 100% stake in Haidian's state-owned capital center and 100% stake in Gan Jia Kou building, with the estimated value of assets nearly 2 billion 460 million yuan. 
 the SFC said that the major plan of Cui Wei shares was not due to the inaccurate and incomplete disclosure of the financial information in the pro forma examination of the spanaction, which did not comply with the relevant provisions of the fourth regulation of the major asset restructuring management of listed companies. 
 according to the announcement, the subscription price of Cui Wei < a href= "//www.sjfzxm.com/news/index_c.asp" > shares < /a > is as high as 13.68 yuan / share. However, in accordance with the average price of stock spanactions on the 20 trading days before the announcement of the board of directors resolution, the price of the issue should be 7.74 yuan / share, and the purchase price is 76.74% above the base price, which is 70.6% higher than the 8.02 yuan premium of the latest stock price of the company. The A share market has recorded a premium record for many years. 
 analysis shows that < a href= "//www.sjfzxm.com/news/index_c.asp > > performance > /a > growth source unknown" /strong > /p >
 according to the profit forecast report provided by Cui Wei, the operating profit of contemporary mall was 29 million 204 thousand yuan in 2013, down by about 30% compared with 41 million 988 thousand yuan in 2012, but in the subscription, Cui Wei predicted the 2014 business profit of the contemporary mall to 60 million 518 thousand yuan, that is, 200% growth in 2013. 
 industry analysis shows that under the backdrop of the depression of the department store, it is difficult for the contemporary mall to achieve such a large increase in performance. The company lacks a reasonable explanation for the source of growth. 
 according to the first quarter earnings report of Cui Wei shares, the company achieved operating income of 1 billion 183 million yuan, down 13.51% compared to the same period last year, and the net profit attributable to shareholders of listed companies was 36 million 580 thousand yuan, down 36.21% compared to the same period last year. 
In the department stores of the Ministry of Commerce in the first half of last year, sales increased by an average of 10.6%, and net profit decreased by 16% on average. In addition to the macroeconomic role, the strength of the electricity supplier, the pressure of rent and labor costs and the rising cost of new stores have led to most department stores experiencing labor pains. 
 according to the announcement last year, the number of stores will increase by 50% after the completion of the acquisition. Beijing's market share will rise from the current 10% to around 15%, becoming the third largest department store in Beijing after the Wangfujing department store and the first business group. After the completion of the acquisition, Cui Wei estimated that the valuation of the contemporary shopping mall and the Gan Jia Kou building could increase by 191.9% in one year. 
 Cui Wei shares resumed yesterday. The opening price dropped by 3.9%, closing down 0.16 yuan, or 1.89%.