Chongqing Road and bridge across the PV setback Changshun sunheat out is

Polaris solar PV net news: known as the “first unit of Chongqing” Chongqing Road and bridge in cross-border restructuring of new energy path is not smooth.

On June 23, 10 days of suspension bridge in Chongqing to resume trading, released the same day on the proposed restructuring of the major asset restructuring progress Bulletin of deal is bad news that the share price plummet. Chongqing Road and bridge in the above said in a statement, Chongqing, the company will no longer belong to the Jiangsu Guoxin Changshun collection new energy limited (hereinafter referred to as Shun) 100% equity into the areas of major asset restructuring of the underlying assets. That means Chongqing Road and bridge plans to enter the full PV industry from temporary setbacks.

Reporters found that compared to the original scheme and had thrown, the latest programme carried out a large-scale downsizing, the reorganization of the trade on the issue of price, quantity and amount of financing, such as matching elements to be changed.

In the new scenario, in addition to the continued retention of the acquisition of the second largest shareholder, controlling shareholder of Chongqing trust’s controlling shareholder holding stake in Yu-Fu high speed 37% significant matters, for acquisition of Chang Shun equity 100% PV asset plan have been adjusted. Because of this change, supporting fundraising is also removed, overall transaction volume substantially reduced from previous 6.358 billion yuan to 1.991 billion yuan, declined to 68.68%, trading is fully paid in shares, released from 9.10 yuan per share dropped to 6.56 Yuan/share.

The reporter learns, Shun Xin he “want out” full of frustration.

On June 13, the Chongqing bridge suddenly announced the suspension. Its night released of announcement on suspension give has description, as the company major assets restructuring trading intends acquisition standard of assets one of, Changshun letter collection subordinates part PV power station project exists “variables”–its by involved of power business license, and planning license, and construction license, standard of assets essential of important business qualification and procedures file still failed to completely made, and the part business qualification file and approval procedures belongs to related legal regulations provides of major assets restructuring standard of assets should has of Qian reset conditions, Nearly the equivalent of a PV power plant “legal status” certificate. And wish to buy power plants in subsequent operations by the local Internet to dissolve, and power delivery and other factors greatly influenced bridge in Chongqing on a careful assessment of relevant compliance documents timing and certainty before drawing consultation with the counterparty corresponding adjustments to this major asset restructuring programme, are expected to constitute important adjustment programmes.

Public data shows that Shun Xin he industry for PV power plant operations. 9 adopted by it wholly-or majority-owned subsidiaries hold a 9-seater ground centralized PV power plant, total installed capacity of 180MW. Among them, 7 in the Xinjiang, 1 Tin, 1 is located in Hebei, has been completed and grid-connected power generation. In 2013, 2014 and 2015 years ago in November, reported revenue of 21.62 million, 154 million and 174 million Yuan respectively, 10.93 million Yuan respectively, 20.07 million Yuan and net profits of 24.6 million Yuan. As of November 30, 2015, Changshun 100% equity book value of 1.156 billion yuan of net assets, valued at 1.199 billion yuan, the multiplier 3.74%.

Chongqing Road and bridge the reorganization had started as early as half a year ago. According to the company December 2015 end of released of announcement said, intends to issued shares and the paid cash way acquisition Yu Fu high-speed 37% equity, intends to issued shares way acquisition country letter holding full funding subsidiary future investment holds of Changshun letter collection 100% equity, two pen assets pre valuation total about 3.198 billion yuan; while, intends to future investment, and country letter assets, 7 name investors supporting raised funding not over 3.16 billion yuan, for paid acquisition Yu Fu high-speed equity of cash on price, and Reimbursement of Changshun subsidiaries bank borrowings financial institutions and companies themselves.

Chongqing bridge’s reorganization might also be in new trouble. Securities and Futures Commission has just issued a moratorium on mergers of listed companies to raise funds to supplement liquidity, debt-servicing and other matters. After the securities daily said, changes in regulatory policy, secret Zhang Man Tung bridge in Chongqing said the company will also make adjustments to the restructuring plan, financing many of the listed companies, it would not have much impact on the company. However, the interface news deadline has not yet been Zhang Man before my comment reply.

Public data show that the first quarter of this year, Chongqing Road and bridge debt to asset ratio is 53.6%, long-term borrowings of approximately 2.275 billion yuan.

Has been a toll road and bridge of Chongqing industry, revenues from the jialing River 牛角沱 bridge, shibanpo Yangtze River Bridge and jialing River of shimen bridge and changshou Lake tourist special Highway (“three bridges”). After negotiations, the end of 2014, bridge transferred to Chongqing City investment group in Chongqing jialing River 牛角沱 bridge, 12.91 million yuan in compensation. Along with the Chongqing shibanpo Yangtze River Bridge toll right will expire in 2016 and 2021 in jialing River of shimen bridge toll right will expire at the end of, increased asset reserves, find new profit point road bridge, Chongqing’s most urgent task.

Southwest securities reported that Chongqing Road and Bridge Road and bridge assets cash flow on which there is the pressure of a shrinking, in desperate need of asset injection, Chongqing Road and bridge for acquisition-related road and bridge assets desire more urgent, Yu-Fu high speed is working in the company “appetite” of assets. On the interface information, acquired 37% shares of Yu-Fu high speed, can remove the bridge in Chongqing and competition between the holdings of controlling shareholders, but also to expand the scope of the assets included in the consolidated financial statements the size gains.

Worth noting is that PV Chongqing Road and bridge across the Territories despite setbacks, but its actual control Department of Chongqing for cross-border restructuring under the influence of a new determination of the energy seems to be great.

On October 28, 2015, the Chongqing bridge announced that will contribute 300 million yuan in cash in Songjiang district of Shanghai to set up wholly owned flagship new energy platform. Three weeks later, which formally established platform begins with a rocket-like speed of operation.

According to PR Newswire reported that Chongqing Road and bridge and smooth clean energy has signed a strategic cooperation agreement, will co-operate closely in the fields of clean energy, to build photovoltaic upper, middle and downstream industry chain, enhance their overall operational efficiency, create win-win strategic partnership for sustainable development.

Clean energy with the wind is the largest independent private suppliers of large terrestrial photovoltaic power generation, once known for its m Suntech trade.

Industry analysts pointed out that by directly or indirectly holding a lot of mature PV power station, roads and bridges in the photovoltaic industry in Chongqing’s dream. Not only is it fast into the PV industry chain as a whole, preferred to buy a certain amount of PV power plant project, but wants to improve in the short term its global influence in the new energy landscape.

Original title: asset restructuring shrunken near 70% bridge in Chongqing to enter solar plans

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