Great Southeast 560 million of biscuits “Games behind”: major shareholders 99.89% shares have been pledged

Polaris solar PV net news: according to reports, although claims to plastic film for packaging industry leading, day wasn’t all bright in the Southeast, inside and outside the great influence on the economy as a whole, the company’s packaging film profitability continues to decline, industrial restructuring is imminent.

In fact, starting from 2011, the company started the transformation and upgrading, and is part of the traditional packaging production equipment, forward toward new energy sources, new materials and other high-tech products, will be a “produce 8000 tons of heat-resistant super thin capacitors film project”, will be “800 million lithium-ion battery project”, this time a hot gaming industry.

In a Word, what area trends, South East will appear where the 560 million of biscuits in the company “game” is behind the 99.89% stake in the hands of controlling shareholders has been pledged.

Premium tour 23 times mergers and acquisitions down the network

Trying to transition South East this time betting on the games.

Southeast of nearly four-month-old suspension lifted the veil of mystery. The night of July 22, southeastern asset purchase Bill was revealed, the company to be acquired at a premium 23 times to swim down the network and into the mobile game development and operations, July 23 opening up the company’s stock to resume trading, stock trading resumed after a Word, as of market close on July 23, or 10.09%, to 5.13 Yuan.

Motion display, the company proposed to issue shares and a cash payment methods, buying Jiang Zhongyang, Vince Lu, Lung Yeuk Tau, perfect June Han, Shanghai, Suzhou tour held by Don network is worth 100%.

It is reported that the acquisition tour, Tang 100% equity pay transactions for the network range of HK $ 563 million dollars, 60% payable in shares of 337.5 million dollars of which the offering price to 5.4 Yuan per unit, number of 62.5 million shares, the remaining 40% paid 225 million dollars in cash. In addition, the company proposed to 4.86 Yuan per share issue price no more than 10 investors to issue shares not exceeding 38.58 million shares, matching proceeds not exceeding a total of 187.5 million dollars, will be used to pay the cash price of the transaction.

Data show that as of March 31, 2014, swam down the network net worth of $ 23.224 million Yuan, 100% stock estimate was 565 million dollars, estimated value is 2332.83%.

It is worth mentioning that, in this transaction, swam down network “large scale” Tang network, vowed to make the capital market performance of salt-tour 2014-2016 implementation of a button non-consolidated financial statements net profit no less than 45 million, respectively, 58.5 million and 73.5 million dollars. If less than the promised net profit figure, compensate the counterparty to the company.

However, swam down performance of the network is not very satisfactory, the data show, swam down the network in 2012, 2013 and 2014 respectively in first-quarter net profit of-9.2228 million,-Yuan and 8.3348 million Yuan.

Continuous “biscuits” behind

In fact, this isn’t the first time Southeast of “biscuits” in the decline in business year after year, new business no breakthrough in the case, greater Southeast is in a period of temporary shortage of embarrassment.

Figures show 2011-2013 a sharp drop in net profit of belonging, 79.23 million,-55.54 million, $ 14.92 million, respectively. Is worthy of note that in 2013, company revenue fell 7.99%, with large government subsidies and other factors, difficult to achieve profitability. The first quarter of 2014, due to raising investment still in the construction phase of the project have not yet been fully effective production, continued loss of 6.87 million.

Performance losses for years behind the transformation of the company’s business was less than satisfactory, and even “the trend smacks of”. In 2011, the company increased to 9.35 Yuan per unit price raised $ 1.288 billion yuan into high temperature ultra thin capacitors, lithium battery separator film and solar film three, 2-year construction period.

These three projects, either capacitive film, lithium-ion batteries or solar PV is the prevailing capital market sought after hot spots, in these hotspots, driven by shares hit a high of 10.06 Yuan in 2011. Although stock performance significantly, but the funky project did not help the company get out of dilemma.

Project attempting to transition does not increase after the success of South East and a big bet on lithium-ion batteries. In June 2013, the company announced that its wholly-owned subsidiary of Zhejiang sea green new energy science and technology limited company intends to invest $ 795.6 million Yuan building in two phases with an annual output of 300 million high energy lithium-ion battery Ah construction projects.

800 million “biscuits” blueprint of the lithium-ion batteries, lets companies share prices soar again from April 2013 at 3.81 Yuan, soared in early July 2013 6.72 Yuan.

The 560 million into “game” shares minutes limit, this is behind almost all of the major shareholders shares pledged.

July 3, 2014, company disclosure has on holding shareholders part equity pledge of bulletin, bulletin displayed, as bulletin day, holding shareholders Zhejiang big Southeast Group Limited holds this company of shares number for 289,964,159 unit, accounted for company shares total of 37.73%, Group pledge of total unit number for 289,644,818 unit, accounted for its by holding company shares total of 99.89%, accounted for company total equity 768,517,543 unit of proportions for 37.69 %。

Original title: Southeast 560 million of biscuits “Games behind”: major shareholders 99.89% shares have been pledged

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