Skyworth Digital Backdoor, China Resources Jinhua Trading

Absrtact: Kung fu pays off, Skyworth digital backdoor China Resources Kam Wah's application was eventually approved by the SFC. China Resources Kam Wah recently issued a notice, reorganization has been approved by the SFC mergers and acquisitions Reorganization Society and the Committee has the conditions to pass, Skyworth digital backdoor China Resources Kam Wah in last November had been a conscientious person, Skyworth digital backdoor China Resources Kam Wah's application was finally approved by the SFC.





China Resources Kam Wah recently issued a notice, restructuring matters have been approved by the SFC mergers and acquisitions Reorganization Society and the Committee has the conditions to pass, Skyworth digital backdoor China Resources Kam Wah was rejected by the SFC last November. The reset means that Skyworth digital STB business can be carried out on a large scale, but the market is still worried about the fierce market competition, Skyworth can maintain the "boss" set-top box status. China Resources Kam Wah (000810) yesterday. SZ) Fast trading after the opening, quote 19.14 Yuan/share, the share price created a new high since this year.





twists, backdoor finally passed





China Resources Kam Wah, the latest announcement that the company received the SFC on June 30, the SFC listed companies in the merger and reorganization Committee held on June 30 in 2014, the 29th meeting of the audit, the company's major assets sale, replacement and issue shares to purchase assets and related transactions to obtain conditional approval.





related data show that Skyworth Digital 2011, 2012, 2013, respectively, the realization of the operating income of 2.962 billion yuan, 3.408 billion yuan, 952 million yuan, to achieve ownership of the parent company's shareholders net profit of 267 million yuan, 304 million yuan, 104 million yuan. And the reverse view of China Resources Jinhua, 2012 and 2013 attributable to the parent company's net profit of only 3.5263 million yuan and 3.7209 million yuan respectively.





in Skyworth digital "backdoor" will significantly improve the performance of the expected, China resources Kam-wah stock trading yesterday after the rapid trading. "Skyworth Digital Backdoor China Resources Jinhua listed, the behavior itself has reflected its own digital STB business future development confidence." "Home appliance industry observer Liu Buzhong that China resources Kam-wah share price in the recent continuous rise in the probability of a big."





Shenzhen Skyworth Digital Technology Co., Ltd., is Skyworth Group's research and development, production, sales of digital TV home Entertainment network terminal products and front-end equipment, High-tech Enterprises, registered capital of 120 million yuan. Skyworth number in 2002 by the original Skyworth Digital television division and Skyworth Broadband Technology Co., Ltd. merged into the main business for the digital set-top box manufacturing and sales, is one of the earliest digital television research and development enterprises, has become the first, the world's third digital TV STB suppliers.





as the largest supplier of digital TV set-top box in China, STB business is the second pillar of Skyworth Group in addition to color TV business, the successful listing will mean more funds and resources for Skyworth figures, and also means that there is sufficient capital to expand the possibility of other related business at critical moments.





Digital Set-top box time has passed?





has the industry to the south, although experienced a variety of twists and turns, but the investors to Skyworth digital backdoor China Resources Jinhua listed or more optimistic, especially in recent years, the poor performance of China Resources Jin Hua can be restructured after the restructuring of the current hot digital set-top box business, but also give investors full imagination.





But there are also objections that Skyworth figures last year, the case of the IPO did not succeed, and this year's domestic set-top box market competition more intense, this "delay" in fact, let Skyworth figures lost further widening the gap between the opportunities.





in China Resources Jin Hua twists and turns to promote the reorganization, the TV set-top box industry competition has gradually entered the white-hot stage, the internet company and hardware manufacturers kill brutal. At present, a-share has the same continent electronics, trillion chi shares, Jinya technology, video network, Chinese media, hundred-vision, Kyrgyzstan as the media, such as the different areas of the company into the set-top box business. Industry analysts said similar to Skyworth digital hardware manufacturers in the field of television set-top boxes, although the first profit, but in the past one or two years, the competition has been significantly intensified; the industry business model has not been stable, hardware manufacturers in the channel and users Skyworth Group spokesman Li Cong want to South all stressed that Skyworth has been the "boss" In the global rankings are also firmly in the forefront of the industry status will not be easily replaced. At the same time, Skyworth Digital set-top box flagship international market, the domestic market competition is fierce and will not cause too much impact.





and with the development of the O T-set-top box business, the High-tech degree of the product is increasing, the country's crackdown on the cottage is gradually increasing, which is a heavy blow to the cottage products. Lee from the point of view, although the current competitive, but the digital set-top box industry is still a sunrise, Skyworth has confidence in this.





: South reporters Wangxiaoxing intern Wu Xia





[Background]





April 2013 and August, China Resources Kam Wah announced the reorganization plan and draft, to be through asset replacement and directional additional form, and Skyworth group indirect wholly-owned subsidiary Skyworth R GB Complete asset replacement. Skyworth R GB Holdings of Skyworth Digital 100% stake will be placed in the listed companies, after the completion of the transaction, Skyworth R G B Holdings of China Resources, 58.52% of the total equity, become a controlling shareholder of listed companies.





analysts point out that the last time the cause of the break may be the boss Hongsheng early criminal record. Public information shows that in 2004, Hongsheng was arrested in the Hong Kong ICAC's "Tiger Mountain" operation and was subsequently sentenced to 6 years ' imprisonment after being convicted of conspiracy to defraud and defrauding listed companies in July 2006, and was released on bail in July 2009.





Although Hongsheng and Huang in 2012 have returned to Skyworth digital, but still failed to meet the acquisition of the sentencing implementation period of five years to acquire the mandatory requirements of listed companies, so the backdoor application was rejected.





but backdoor matters did not end, last December 30, China Resources Kam Wah announcement, Skyworth Digital restart backdoor China Resources Jinhua, split set-top box business in a A-share listing plan, and to the SFC submitted a revised asset reorganization application, and received.