2016-07-27 16:45
Haodangjia from "face" to "changing the mouth" frequently exposed in transition
[direct network Beijing July 27th news] (economic information daily) recent stock market downturn, many people who do not pay attention to the stock may be surprised to find that the original purchase of the stock is not seen. A closer look, it is only the company's transformation, changed its name only.
As of May 26, 2016, less than half a year A shares actually have 159 listed companies changed its name. Listed companies frequently face behind, is traditional industry widespread overcapacity, the market long-term downturn, unable to support the stability of the performance of the. As a result, more and more listed companies have to chase new business, seeking transformation.
However, in listed companies set off the "face" movement, not all companies are after the transition strategy of careful planning. Recently, the country's largest sea cucumber aquaculture enterprises, homey (600467) in the deteriorating performance in said to South Korea Qingxin hospitals conspire health industry. In the Shanghai Stock Exchange repeated inquiries, but gives almost the opposite story.
In the transformation, let the listed company repeatedly exposed.
Transformation routine
A strategic cooperation agreement reached on the cause of the incident Source International Hospital in July 6th and South Korea are pure homey.
According to the agreement, the two sides will in cooperation in the field of medical cosmetology, micro plastic, dry cell therapy, anti - aging, health examination and depth, homey will in the domestic help Qingxin international hospital medical service promotion. The two sides also proposed the mode of cooperation, homey to its own channels, other channels and its own membership database promotion Qingxin international hospital medical services products, Qingxin international hospital agreed to give preferential price policy. Qingxin international hospital agreed to help set up high-end smart homey hospital in the country."
This is the background of cross-border restructuring dilemma China largest enterprises facing the sea cucumber - homey. Is located in Weihai, Shandong, this listed company is a sea cucumber and other seafood breeding, sales as the main industry. However, in recent years China high-end consumption shrinking, the company's performance is also plummeted.
In 2011, homey operating income and net profit still 8.81 billion yuan and 2.07 billion yuan, profit rate, the company is far higher than that of the general manufacturing enterprises. But in 2015, despite the company's efforts to maintain operating income of 987 million yuan, net profit of only 35 million 193 thousand and 900 yuan, compared with the average profit margins of household electrical appliance enterprises is also thin. It seems imperative to find new profit for enterprise transformation.
In fact, the depression of the traditional industries have forced a large wave of listed companies have changed, changed its name. 2015 A shares of listed companies has been renamed as high as 217. As of May 26, 2016, less than half a year A shares have 159 listed companies to complete the name change, in accordance with this trend this year is bound to exceed last year.
The stock market is a good place to tell stories. According to said headed choice in cooperation with the International Hospital of South Korean Qingxin can also draw a good "pie", after all, homey place of Weihai is China ROK FTA only the first demonstration area, South Korea Qingxin international medical beauty, micro plastic, anti-aging, healthy, is favored by Chinese consumers, large health care is a fashionable topic of current.
At the same time, many institutions also began entering the lobby. On July 6, Huatai Securities (20.100, 0.07, 0.35%), Shen Wanhongyuan (640, 0.05, 0.79%) and Tianfeng securities three brokerage agencies released "on the company and the pure in heart hospital of strategic cooperation and cross-border restructuring matters Research Report" and give a homey shares "overweight" rating. In addition, Societe Generale Securities (8.030, 0.09, 1.13%) also released the minutes of the meeting of the company's Board Secretary Li Junfeng exclusive conference call, analysis of the company to enter the health industry in the health industry detailed planning.
But hurry transformation homey apparently did not do a good job the preparation, announcement and numerous agencies sought but lead to hand the again and again the question.
June 7 and 8, homey were received on exchange regulatory a sent to the about Shandong homey aquaic Development Co., Ltd. to accept research issues letter of supervision "and" about Shandong homey aquaic Development Co., Ltd. accepted research issues a letter of supervision ", detailed description of the health industry development strategy; in detail whether on the project were feasibility study, whether have drawn up specific cooperation projects, quasi - project cooperation mode of operation; that whether they have the necessary staff, technical conditions and business operations experience.
At the same time, hand also pointed out that "Huatai Securities, Shen Wan Hongyuan Research Report and Societe Generale Securities released minutes of the meeting date is July 6, and company signed a strategic cooperation agreement with the announcement date for the same day and related content beyond the content of the information disclosure of listed company, required together with an explanation.
In a depression of the traditional industries, the transition, it seems to be the stock market changed its name to become the most fashionable trend. A CITIC built cast anonymous observers pointed out that a large number of Listed Companies in transition to form a typical routine, first through cooperation or is the acquisition of new business, to draw investors a tempting "cake", again a few institutions approach released Research Report campaign, giving shares "overweight" rating to foil, finally wait for the stock price soaring.
Unfortunately, the transformation of the routine work too hard homey, let Shanghai caught. Originally wanted to rely on "cosmetic surgery" to achieve the "face" of the homey, instead of a backfire accident.
From the face to the mouth
Originally, homey cross-border restructuring with certainty prior to the announcement. But when the upper hand over the requirements of its detailed explanation, the tone has changed.
On the 13th of July to make the reply, homey explained, to the signing of the framework agreement is a bilateral cooperation will and strategic agreement, cooperation has not yet been substantial development, nor the feasibility demonstration. "
For why even argument not hastily signed a framework agreement, issued a notice, homey secretaries Li Junfeng accept the Economic Observer newspaper "reporter the interview said. The company has been health as the enterprise's strategic direction of the transformation, early to do a market survey, signed a framework agreement is like two people fall in love and get married, but also there is still a divorce possibility."
Originally, several securities institutions and the release of research reports, but also to give the stock overweight rating, so that some investors are confident. Kehao headed transit added transition almost without any advantage, "homey is the first foray into the field, the company currently has no professional staff, also does not have the technical conditions and business experience." At the same time the company also said that "homey consumers including store system, e-commerce, TV shopping channel by the accumulation of customers for the group, the group scattered, consumption concept and consumption capacity is uneven, in promoting Qingxin international hospital medical services products in the process, due to the customer stickiness of homey is not strong to into Qingxin international hospital customers is very difficult.
A no, nor technology and experience, even the only common customer groups translates up is also very difficult, could not help but let teeters on the National People's Congress, so transformation to success? Secretaries Li Junfeng said, there is no experience to learn, there is no talent can recruit. Although he also say not clear company do this in preparation for a long time, but are convinced that "sea cucumber consumption groups, pay close attention to very much their own health, it is possible to check the body, to South Korea to become pure heart hospital customers."
Wound announcement said "the company will in the domestic set up intelligent high-end hospital, at this time the company explained," the company is currently in Weihai Department in charge of public health communication stage, at present no construction of high-end intelligent hospital specific follow-up plan, the future construction of the hospital does not contain medical services, LIMITED to healthy business. " But if it is only a healthy physical examination, and how to be called the "wisdom of the hospital" it?
For three brokerage incredible respectively in announcement the same day issued a "a homey and pure heart hospital of strategic cooperation and cross-border restructuring matters Research Report", give "overweight" rating A, homey told reporters that "all the announcement." Can be announced, said the company in the disclosure of the above strategic cooperation agreement before the announcement did not accept the relevant research, the Secretary of the board also did not receive a telephone interview". And this statement is difficult to explain why the 3 companies in the announcement of the report, while even the research report is done, and even more detailed than the announcement".
A miniature homey only recently listed companies frequently transition. In these transformation of the company, most of the direction of the transition to choose the right moment of the industry. For example, coal enterprises to engage in play a net to swim, iron and steel factory diverted to financial, developers start the health, textile transformation of cross-border business... However, many companies seemingly "tall" industrial prospects and direction is not clear, some industry cutting-edge technology of surviving a major defects, some listed company, neither the resources accumulated and without sufficient preparation for the blind transformation.
A listed company drive this should have a industry + capital "wheel, if only pay attention to industry, ignore the capital, often enterprise development speed is slow; if too much emphasis on capital, ignoring industry development, the enterprise will appear excessive bubble phenomenon. CITIC built cast these observers pointed out that at present the capital market a should be alert to signs of is a large number of enterprises to the capital and industry, do not invest energy will be the main industry to do the fine, as long as the main industry can not support the expected price, these companies will not hesitate and blind transformation, face. However, when the capital tire injected excessive expansion of air bubbles and fast, sooner or later there will be a day......
Interpretation of the news hot spots, showing sensitive events, more exclusive analysis, in the "things" WeChat, scan two-dimensional code free reading.
|