Share Reform "thin Is Beautiful" Want To Create Pan
This time, Changhong Zhao Yong, chairman perhaps look forward with confidence on March 20 of
Share reform Vote. Prior to his run in Beijing, Shanghai and Chengdu, Wuhan and other places, "road show" to impress
Investment By heart, as Changhong's share reform program in favor of pulling one.
Zhao Yong in the "road show", following the Sichuan Changhong announced on March 1st amendment program, which not only announced by February 20 of "Song Gu repurchase commitment" to the price of the form, but also to the circulation of non-circulating shares shareholders per 10 shares outstanding by the ratio of stock to pay to send 3 of the price adjustment of 3.4 to 10 to send and directed in the price of buy-back program Songgu and upon completion of Changhong Group, the largest shareholder's ownership percentage will drop to 30.70 %.
This, Changhong shares expected reduction by state-owned shares to "pan Rainbow" concept to completion of the new round of industrial recycling. "We hope
Thin On the one hand occupied by the Group company funds to solve the problem, on the other hand the introduction of strategic investors for the future to eliminate concerns. "Changhong Yang Jun minister said the Department of Asset Management.
Share reform "thin is beautiful"
According to Sichuan Changhong March 1 of the share reform program amendment, to the flow of non-tradable shareholders, the shareholders pay 3.4 shares for every 10 shares, as the flow of non-tradable shares were right on the price. The revised package of 10 shares than the original plan to send three stocks on the price increase of 13.33%. Account for the expression of long-term shareholder paragraph apology and the sincerity to protect the interests of small investors, Changhong Group in accordance with the non-tradable shares than other shareholders in proportion to the arrangements on the price of tradable shareholders Song Gu, Changhong Group, which sent shares to tradable shareholders 312,027,308 shares , send rate of 10 shares for every 2.69 shares of non-tradable shares sent; addition to Changhong Group other than the non-tradable shares to tradable shareholders, sent shares of 11,449,489 shares of shareholders, send rate of 10 shares for every 2.20 shares of sending non-tradable shares.
Thus, in the direction of the price Songgu and after program implementation, Changhong Group's stake in Changhong's 53.63 percent before the reform will be dropped to 30.70%, while the decline in the program before the bottom line is 32.66%. As a result, Changhong Group while it is due to the dominance, but its stake in Sichuan Changhong has made the most significant reduction. Some analysts believe that this change not only reflects the proportion of major shareholder, the management reform for the sincerity of this unit is the bottom line of non-tradable shareholders.
Statement according to Zhao Yong, the program will completely solve the long-term shareholder accounts for the historical legacy section. It is reported that Changhong Group bank borrowings used to participate in 1997 and 1999 allotment, the formation of huge debt, because of its high quality assets into the stock company will be led to lower profitability, thus gradually occupied by the company's capital, is the historical legacy. Sponsor agencies share reform YAO Xu-dong said BOC Executive Director, as of December 31, 2005, Changhong Group, the company's non-operating capital and interest costs take up a total of 1.212 billion yuan. The combination
Equity Division Reforms can be solved through targeted repurchase 1.195 billion yuan.
"While holding the status of Changhong Group retains no change, but the downsizing of the state share holdings after all." Hai Tong Securities appliance division Gu Qing that Changhong's move to make investors feel the existence of an acceleration of development.
3C layout under the "pan-Rainbow" concept
Zhao Yong guess the mood, perhaps rather optimistic: since its take over Changhong has been conducting a series of strategic Zhao Yong adjusted with China
Telecommunications , Microsoft , Zhaohua technology and a series of strategic cooperation, Changhong has initially built up across the broadband network, telecommunications network, the Internet distribution of 3C industry, Changhong from traditional appliances to accelerate to the family or individual consumer electronics products, content and service providers to strategic transformation . So far, most of the emerging industry is profitable.
Form in the new industries, the company established Changhong Zarva, the National Rainbow Communications, Rainbow Micro, information technology company, has substantial access to IT in the field, IC design and communications, has formed the other two poles 3C (computer and communication industry) basis.
Industry value chain, the company will also cut into the PDP screen positive, O
LED , LED, LCM, and other core components of the fields of manufacturing and research and development, comprehensive transition to an information appliance.
Present some of the projects has been substantial progress. Meanwhile, the company does not have comparative advantages, low value-added industries to "shrink", this part of the assets and trade advantages of joint venture enterprises.
Sichuan Changhong about future business objectives and development plans, said Zhao Yong, Changhong will be the future platform for the development of joint-stock companies, to create "Pan Rainbow" Changhong concept of the joint fleet to
Capital As a link to 3C industry focus, adjust the industrial structure, accelerate the development of modern science
Business management System, highlighting Changhong Brand
Advantage.
by: fdgbg
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