Singapore, Malaysia Auto Concrete Pump Truck Show
11 30, Singapore, Malaysia Automotive announced the acquisition of shares in issue oriented news Valin car, then ushered in two daily limit.
Star horse car "She Tunxiang"
Singapore and Malaysia recently announced restructuring plans for car shows, the listed company will be the price of 8.18 yuan per share, to Anhui Xingma Automotive Group, Anhui Investment Group, Anhui, Singapore, Malaysia Venture Capital Corporation 9 specific object, directional distribution approximately 20,537.90 million, to acquire their own 100% stake in Anhui Valin car.
The assets are pre-assessment method returns the estimated value reached 1.68 billion yuan, the estimated value of more Valin latest issue of 839 million yuan car net asset value increase of 100%. "The latest issue of Valin Auto net profit is very high, so in accordance with the income approach value-added assessment, so many should be normal phenomenon." Certified public accountant in Shanghai told reporters.
Reorganization plan from reporters found that the profitability Valin car from 2006 show the trend of increasing year by year, until the third quarter of 2009, its net profit has grown from 15.37 million yuan in 2006 rose to 2.208 billion yuan, Star horse cars over the same period net profit of 32.1973 million yuan, nearly 546 percent.
Moreover, the total assets of Valin vehicle size, net assets, revenues exceeded the listed companies. As of the third quarter of 2009, the data show that the total assets of Valin car has reached 3.287 billion yuan, net assets reached 839 million yuan. As the main body of this acquisition, the total assets of cars in Singapore and Malaysia and 17.56 billion yuan, only 520 million yuan of net assets. Valin cars this year, the month 1-9 Sell Income of 3.186 billion yuan, equivalent to 1.4 times the vehicle in Singapore and Malaysia.
"Valin car sales situation is better than the heavy truck sales, if the overall Valin car into the listed company is profitable vehicles in Singapore and Malaysia will have doubled." First Capital Securities industry analyst Guo Strong Criticism of the transaction at the time that.
"Completion of the transaction, the two company's operations or relative independence, the management team will remain stable, there is no running on the management integration problem." Gold star horse car side up, said board secretary.
Fact, appears in the relevant industry analysts, the acquisition vehicle in Singapore and Malaysia's major shareholder assets, not only to expand the company's asset size and profitability, more critical is the ability to solve its protracted related transaction issues.
Car in Singapore and Malaysia on October 25, 2009 release titled "China Securities Regulatory Commission of Anhui Authority on-site inspection report found that the rectification of the problem", the reporter found, Singapore, Malaysia and the largest shareholder of the vehicle with its own The Valin car there are many issues on the related transactions were required rectification.
Gold square on when interviewed on these problems is not to say, "We believe this acquisition is one of the main issues related party transactions, this is in line with regulatory authorities to gradually reduce and eliminate related party transactions requirements. " Anhui automobile industry consolidation
start? After 4 months in the silent, star horse car purchase Valin move the car once again ignited the market's expectations of Anhui automobile industry consolidation. Singapore, Malaysia car purchase plan released the day two car companies in the province a strong market performance, Ankai strong daily limit, JAC two days of gains as to 9.98%.
Aforementioned integrated automotive industry in Anhui Province is referred to May 12 this year, the provincial government issued a document entitled "Anhui automobile industry restructuring and revitalization plan" document.
"As clearly stated in the document will 'support the JAC, Valin, Changhe, all diesel and other companies in the province in accordance with the principles of market conduct joint re-', the document was published at the beginning, we agreed that the industry first integration should be the province of the three largest automobile manufacturers: Chery, JAC and Ankai. by the star horse car at the head is relatively surprising. "Anhui study a local brokerage told this reporter.
As the integration between the JAC and Chery there is a certain degree of difficulty, it seems the industry, Singapore, Malaysia car is actually the re-integration of the automotive industry in the province to select a relatively easy starting point, "After all, the two companies are the same major shareholder, the business categories can be complementary. "
This, listed companies and not a positive response, "the government document is a policy guide, this integration is a market choice, mainly from the perspective of long-term development business." Golden told the reporter side up.
"Singapore and Malaysia's Special Vehicle field has some bottlenecks, so that a certain amount of further expansion difficult, but this one Hualing heavy truck can be very large, the two sides after integration, the product line will be more abundant potential for development greater. "side up, said Kim.
In addition, related party transactions has once again been put money mentioned, "Before we have our own chassis are not procurement, which is obviously unreasonable, but in order to avoid related party transactions we had no alternative. But now, after coming close on the Valin not the same, Valin chassis mounted after the company came in very favorable. "gold side up frankly.
"Integration of the two companies can be seen as integration of the automotive industry in the province a landmark event, follow-up to other companies within the industry consolidation will refer to this model worth the wait." Foregoing Anhui Province brokerage analysts believe.