In traffic force seven PE line of fire to buy a stake in the transfer of PE interests suspected

April 29, China Traffic Force Construction Co., Ltd. ("Traffic Force") to the SFC to submit the IPO prospectus (report).　　The traffic force is a highway construction comprehensive service provider, the business covers highways, bridges, tunnels, geotechnical engineering research, consulting, reconnaissance, design, construction and conservation, landscape planning and design, greening construction and maintenance.　　From 2008 to 2010, the net profit of the company to the parent company was 50.2344 million yuan, 75.4345 million yuan, 103.72 million yuan, and the net profit of 2009 to 2010 was 50.17% and 37.5% respectively.　　Perhaps it is the high growth rate attracted the arrival of private PE, but before the listing of PE low price in the transfer of PE benefits of the suspicion. From March 23, 2009 to April 21, deep venture investment, red Clay Ventures, public utility, the fast-easy passenger, Binhai Investment, Tisco Investment, South car investment and other investors with the company, Science and Technology Group, Xi ' an fluent, shareholder Sun Zhongti signed the "Increase capital and expand the shares of the contract", according to the price of 2.06 yuan per share, respectively, cash 37.68 million　　, 20 million yuan, 10.3 million yuan, 3.09 million yuan, 4.12 million yuan, 10.3 million yuan, 6.18 million yuan to subscribe to the company's new shares 18.2912 million shares, 9.7087 million shares, 5 million shares, 1.5 million shares, 2 million shares, 5 million shares, 3 million shares.　　According to the company at the end of 2008 earnings per share of 0.37 yuan, the above investors to increase the shares of the P/E ratio is only 5.57 times times. April 21, 2009, the company's major shareholder technology group and Beijing fast-easy to sign the "equity transfer Agreement", the technology group to Beijing Express transfer of 1.5 million shares of the company, transfer total price of 3.51 million yuan, a share of the transfer of 2.34 yuan, the transfer of P/E multiples of 6.32 times times (in the company at the end　　On the same day, the technology group and TISCO Investment signed the "equity transfer Agreement", the technology group to invest in TISCO investment 15 million shares, transfer total price of 33 million yuan, the transfer rate of 2.2 yuan per share, the transfer of P/E multiples of 5.95 times times. It is noteworthy that the road and bridge Construction (600263.SH), Sichuan Luqiao (600039.SH) and Dragon Building Shares (600853.SH) at the end of 2008 are 31.26 times times, 127 times times and 121.25 times times respectively in the same industry.　　Three companies have an average of 93.17 times times earnings at the end of 2008.　　In 2010, the medium traffic force diluted income of 0.5 yuan per share, to 2011 years already in the SSE board market 13 new shares per share of the average 55 times times the issue price, the company price price of about 27.5 yuan/share. From March 2009 to April, 7 investors, including Tisco, bought a total of 60.99 million shares in the company, with a cost of about 2.2 yuan per share, and if the price per share of the traffic is 27.5 yuan, the above 7 surprise investors will gain 15.4.3 billion yuan. If the successful landing of the Shanghai SSE, the above 7 investors is undoubtedly a "feast."