Keno Science and Technology: the new life of abandoning son

Even create eight trading! The former has been the target of market chasing, and this has benefited from the Hailan's backdoor of the technology. In fact, the Keno technology and the Hailan house were once subordinate to the same actual controller. But the man named Zhou in order to develop the home of the sea LAN to give up the science and technology, in the home of the Sea LAN, after the failure of the IPO, Zhou and will look at the abandoned son of the technology, for the Hailan home listing to find a destination, But the high valuations of Hailan in the deal have cast doubt on the deal. Keno Science and Technology "fame" Keno technology is undoubtedly the most recent capital market exposure, one of the highest, the entire early September, the stock is almost all the way up, even sealed 8 trading board, and from the suspension before the 3.1 yuan/shares rose to 7.3 yuan/share of the high. So what makes this otherwise obscure stock suddenly so favored? As we all know, reorganization is a very tempting concept of speculation, the "fame" of the science and technology is the benefit of the reorganization. August 31 This year, the planned restructuring of the one-month of the Keno Science and Technology issued a notice, the company intends to the home of the LAN all shareholders to 3.38 yuan/share of the price issue 3.846 billion shares to buy the home of the LAN 100% Equity, the transaction price of 13 billion yuan. If the transaction is successfully completed, Hailan will become a wholly owned subsidiary of the Science and technology, and the realization of the shell listing, LAN group will become the company's controlling shareholder, Zhou for the actual control. After the reorganization of the plan, the Keno technology for several consecutive days to open trading prices. As of last Wednesday, the unit received 5.61 yuan/share, up by 81%. However, although the second-tier market price soared, but for a clothing company, 13 billion yuan transaction price is not a small number. In fact, at present the book value of Hailan's home is only 2.655 billion yuan, and the valuation has reached 13.5 billion yuan, that is to say, the company's evaluation rate is 408%. There is no doubt in the market about this overvalued value. According to the data, the valuation of Hailan is about the same as the current total market value of seven wolves, the great news Bird, the backgammon stake, the Rosa shares, and the 5 apparel listed companies. It is worth mentioning that this is not the first time Hailan's house has intimate contact with the capital market. 2012 Hailan's house had a sprint IPO but was vetoed by the CSRC. The brotherly sentiment is quite interesting, Hailan's house IPO failure is related to the reorganization of the transaction Fancaino technology. According to the SFC disclosed that the independence of the Hailan house is flawed, its controlling shareholder of the LAN group has been holding the science and technology, the three main suppliers of Kano technology in 2009, 2010 and Hailan House, the Sea-LAN group has business or capital dealings, but the declaration material did not make a full and reasonable explanation. In fact, Hailan House and the science and technology has always been inextricably linked. Before August 2010, the Hailan House and the Keno technology are the true sense of the same Shineti, at the same time controlled by the Sea LAN group. However, in order to let Hailan house better listing, in December 2007, the LAN group will be three years beforeThe transfer of restricted shares by the Jiangyin Textile Co., Ltd. with the third, signed the agreement on the transfer of the stock custody and the expiry of the lock-up period after the expiration of the 41.41 million shares of the science and technology held in the form of a pledge to the Jiangyin third fine Wool Textile Co., Ltd., transfer price of 248 million yuan. The shares were released on August 5, 2010 and formally transferred to Jiangyin Textile Co., Ltd., the actual control of the science and technology was changed from Zhou to Jiangyin Xinqiao Town People's government. However, according to the former Financial weekly report, Xinqiao Town People's government is just a shield, Zhou after all still control the Keno technology. The motivation of the actual controller Zhou to skim the real relationship between the two companies stems from the fact that Hailan's house was entering the listing process. Although nominally fraternal relations have been interrupted for three years, the Hailan's home and the science of Keno have not been interrupted. Now the two plans are combined to make the market more curious. Who is the capital of Zhou by Zhou? Public data show that Zhou was born in 1960, its holding 52.5% of the Sea LAN group formerly established in 1991, "Jiangyin third Fine Mills", the plant's corporate nature for the town to run collective enterprises, and later renamed Sanmao Group Company, its indirect control of the Keno technology listed on December 8, 2000. Hailan House is in the Keno technology listing two years later, that is, in 2002, the current Zhou through the LAN group Control Hailan's home 42% of the shares. Despite the establishment of Hailan, Brother Enterprise Keno technology has already boarded the peak of development, but Hailan's development momentum is no less than the Keno technology, fame is far greater than the science and technology. Hailan's financial report shows that the company's 2011 home ownership of the parent company's net profit of 700 million yuan, 2012 to 853 million yuan, 2013.5 is more than 671 million yuan, and the same time, the net profit of science and technology is only 103 million yuan, 104 million yuan and 80.6 million yuan. In fact, as a veteran enterprise of the Keno technology in 2007, the net profit reached 146 million yuan. This on the other hand also can be seen, with Shineti a stalled, a high-speed forward. According to market personage analysis, Hailan's house development momentum is so strong, is because Zhou wants to through it to realize own another asset securitization dream. "This may also be the main reason why it has been planning to go public after the IPO failed." "Of course, this also has the power to drive PE," said an analyst in Beijing. If the Hailan home can backdoor success, Zhou is bound to kill two birds, not only to achieve the original intention of the Hailan House listing, but also fair to the science and technology of the holding of the right to recover: according to the reorganization of the plan, Kano technology, the current holding shareholder of Jiangyin Third Fine Woolen Co. A total of 151 million shares, to 508.955 million yuan price agreement completely transferred to Hailan, the holding shareholder of the LAN group. Now, Zhou's planned capital is in sight. Despite the market's questionable voice,, but Hailan's house to borrow the shell of the Science and technology reorganization plan is still held on September 17 at the shareholder meeting to 90.54% of the approval rate was passed. This also means that the Hailan's house listing only one foot-the SFC's audit.