CNDSN August 3 hearing] (China Economic Net) recently, compared to the fluctuating market, sunshine shares is a triumph. As of the last trading day of July, sunshine shares has ushered in the resumption of six trading.

This can be attributed to the sunshine shares acquisition of a paper announcement. On July 7, sunshine shares announced the acquisition of Zhang Yimou "impression" series of the subject company view impression Art Development Co., Ltd. (hereinafter referred to as "view impression") 100% equity. According to the injection plan, Zhang Yimou will hold 36540000 shares of Hunan shares, as of July 31st, the market capitalization of up to 487000000 yuan.

"Acquisition view impression after, listed companies will present both" real estate + culture "double main business situation and future business segment of the two by the respective business management implement daily management, sunshine to view impression more is in strategic planning, resource allocation, risk control and personnel incentive given to control and guide the listed companies," he said.

In fact, sunshine shares as the largest shareholder of Shanghai Sanxiang Investment Holding Co., Ltd. (hereinafter referred to as the "Sanxiang Holdings"), not only across the estate and cultural industry, set foot in the direct selling industry. According to public information, Sanxiang holdings Chairman Huang Huigu is Hunan Yandi Bioengineering Co., Ltd. (hereinafter referred to as "Yandi creature") of the directors. In 2011, the company received direct sales license. Biological Yandi's official website revealed that companies are "attached to the Shanghai Sanxiang Investment Holding Co., Ltd. a countries high technology enterprise". The number of individuals claiming to be the Emperor Yan biological sales system has been stressed to reporters the "background of listing Corporation".

Whether because of the company's listed company background, Yandi biological once direct media exposure in the industry are "membership development bundling selling original shares", alleged financial pyramid schemes, and questioned acquiescence Yandi biological matter. Recently, the China economic net reporter contact to the Yandi biological systems, sales people also repeatedly mentioned "original equity incentive", namely, performance reached a certain degree of equity sales bonus system of the company.

For the Yandi biological, sunshine shares dongmi office is to respond to the China economic net reporter, said: "Yandi and biological company does not exist any relationship". According to the knowledge, the company should be the controlling shareholder of listing Corporation holding subsidiary of hunan.

Zhang halo shining sunshine 18 times the acquisition premium objectiveimpressions

On July 6 in the evening, the suspension of nearly five months of sunshine shares announcement said the company intends to mainly through the issuance of shares and the payment of cash to buy assets and raise matching funds in the form of the acquisition of the concept of 100% stake in the impression. Total price of 19 million yuan, which in cash payment on the price of 9.5 billion yuan, to pay 9.5 million yuan on the price of the shares, also to 6.5 yuan / share price to the company's actual controller Huanghui, Shanghai Yunfeng start-up equity investment center (hereinafter referred to as "Yunfeng start-up") etc. 10 supporting financing object issued shares of 292 million shares, raising $1.9 billion for payment of the acquisition in cash of the price and additional liquidity.

Have to mention is that if the restructuring is successful, the concept of the impression will be 18 times. Announcements, as of March 31, 2015, the book value of the net assets of about 99600000 yuan, but the value of its assets is actually reached 1667000000 yuan, and the final transaction price after consultation between the two sides set to 1900000000 yuan, the value of 1807.59%.

Why the next such a large acquisition of impressions? Sunshine shares are given the answer is that impression main business concept for the project of Tourism Performing Art Creation and copyright operation, which belongs to the small property company, the net book value of assets can not fully reflect the profitability and firm value.

The data also show, objectiveimpressions since its inception has been formed by Zhang Yimou, Wang Chaoge and fan who Yeuk three director is the core of the team. The renowned director Zhang Yimou is perhaps willing to join sunshine shares an important cause for the high premium on acquisition.

Public disclosure of information display, Zhang Yimou holds the view of Shanghai 65.12% equity stake, Shanghai view impression holds 38.35% equity interest, so that the equivalent of Zhang Yimou holds a view of the right to 25%. In accordance with the sunshine shares asset injection plan, Zhang Yimou can 2.375 billion yuan in cash, and can gain equivalent to sunshine shares 3654 million shares of stock, as of July 31, the market value of up 4.87 billion yuan. With the sunshine shares rose, is expected in this part of the assets will continue to rise.

Sunshine shares this brewing for a long time set by the acquisition of action, the current hot capital bigwigs dinglixiangzhu. Subscriber list shows that Huang Huigu, Yunfeng start-up, the huge state assets, Yuxiang Ru, Li Jianguang, Chi Yufeng, Yang Jialu, Tang Zhen, Hing Fund (increased No. 111), Everbright Pramerica (Cheng Ding Sanxiang everything in the column.

The media quoted the Shanghai a brokerage analyst said: "to view impression 2015 performance commitments 1 billion yuan calculated, and the corresponding price earnings ratio of 19 times, far below the Vision China, Songcheng, Legg Mason culture, Lijiang tourism than the level of the company's valuation, Lijiang tourism 34.28 times, is the company which yields the lowest."