Yung Sheng Super Micro Power master Zhu Jianzhong family assets side most satisfied with the object

Yung-won Super Micro current profitability, it needs high-quality asset restructuring to pull up, otherwise the short-term still may be at any time again into the deficit dilemma Financial weekly major research group Yuan Hope Front/writing compared to two years ago, Yung-won Super micro-shell now more use value. The total equity of 182 million shares, the total market value of 1.369 billion yuan, these are in line with the current securities investment banks to select high-quality shell resources standards.　　The relative concentration of equity structure also allows the value of the shell resources to climb.　　Yung-won ultra micro to enameled wire started business has not changed, even before the miscarriage of an asset reorganization is also around the electromagnetic line product diversification, as the actual control of the construction of the enameled wire industry nearly 30 years, the enameled wire has a difficult love.　　In the first half of 2013, Yung Sheng Ultra micro performance has been improved, although the net profit is not high, but compared with the same period last year, to achieve a negative net profit, in the macroeconomic stability of the rebound in the environment, Yung-sheng Micro situation is also improving. At present, there is no information on the market of Yung-sheng Super micro-sell shell reorganization.　　However, even if the next Yung-won micro-reconsider the reorganization of assets, the reorganization party is most likely to be related to the electromagnetic line of the asset holders. Conditions good shell value climbed total 182 million shares, the total market value of 1.369 billion yuan, the equity concentration in the Jianzhong family, the asset-liability ratio is only 51.57%, since 2009 has been in the loss of "anti-Japanese" Rong Sheng Super Micro predecessor is Zhuhai Rong Sheng Electrician Co. Production and electronic information, household appliances and national defense technology supporting the fine and special enameled wire.　　Up to now, a total of 182 million shares of total capital, the total market value of 1.369 billion yuan. Since the beginning of 2009, Yung-won has been in the middle of a loss. 2009, Yung-won ultra micro performance fell sharply, barely maintain a positive net profit. 2010, Yung-won Super micro-hit the World War. Net profits fell sharply in 2011.　　2012-The first half of 2013, Yung-won Super Micro again full loss. In the first half of 2013, Yung Sheng Ultra Micro Operating income of 484 million yuan, increased by more than 50 million over the same period last year, but the net profit index reluctantly "positive", for 1.85 million yuan, and the same period last year, a loss of 1.21 million yuan.　　In the third quarter, Yung-won ultra micro performance continued to improve, the first three quarters of net profit will be between 3 million to 6 million yuan. Yung-won the situation slightly improved, but the loss of the war has not ended.　　Because of this, Rong Sheng Super Micro Shell has jumped into the backdoor side of the ideal choice. In addition, from the equity relationship, Yung-won Super micro of the former three major shareholders are Zhuhai Investment Co., Ltd., billion-Tao International Limited and Hong Kong Crown Strategy Industrial Co., Ltd., the three shareholding ratio is far higher than other shareholders, respectively, holding Rong Sheng Ultra Micro 20.92%, 14.9%, 10.31% of the equity, The National Social Security Fund, which is the fourth largest shareholder, holds only 2.5% per cent, with no more than 1 of the shares held by other shareholders.%。 For Shell resources, whether the reorganization succeeds, the most key is that the company shareholder decision is consistent, and the relative concentration of equity is the precondition of the consistency of decision.　　There is no doubt that Yung-won Super Micro decision-making core power is the first three major shareholders, and the core strength of the point is Yung-won Ultra Micro chairman Zhu Jianzhong. In the construction of a large shareholder Zhuhai See Investment Co., Ltd. 99% stake in the construction of the wife Kim Miyong holding Hong Kong Crown Strategy Industrial Co., Ltd. 80% of the equity.　　And Yung wins Ultra Micro Two shareholder Hong Kong billion Tao International Co., Ltd. 45% of the equity (controlling rights) by Qin Yong Holding, Qin Yong for the construction of the brother-in-law, the current Yung-sheng Super micro-supervisor long. In other words, the Jianzhong family firmly grasp Yung-won Super micro-control, once Yung-won Super Micro plan to restructure, only three of the family within the formation of decision-making consensus can be very high efficiency.　　For businesses looking for shell resources, the ability to make decisions is what they want.　　On the debt side, Yung-won is not very small debt pressure. According to the 2013.5 Annual report shows that the current Rong-sheng Ultra micro liabilities of 359 million yuan, the total assets of 696 million yuan, the asset-liability ratio of 51.57%, in the middle of the level of debt.　　During the same period, net assets were 310 million yuan, slightly below the total liabilities, but the gap was not large. Of the 359 million-yuan liabilities, except for the 1.68 million-dollar non-current liabilities, the other is the current liabilities, the total amount is 357 million yuan.　　But the real short-term debt pressure is mainly 280 million yuan short-term loans, compared with the beginning of 2013, the increase of about 33 million yuan.　　Yung-won Ultra micro to this explanation, due to the increase in sales in the period, the company's product production cycle and customer settlement cycle and the reasons for increased liquidity investment, resulting in the increase in short-term borrowings. Reorganization or bias to the electromagnetic line industry in 2010 Yung-won Super Micro has started restructuring, to Yang Xing copper core business and operating assets into the listed companies, want to achieve its electromagnetic line product diversification of the idea, the final plan to put into the water Yung-won in June 2010 has launched a reorganization of assets,　　The object of reorganization is Shanghai Yang Xing Copper Material Co., Ltd. 100% of the equity.　　Yung-won Super micro-design reorganization plan is to 13.17 yuan/share price directed additional 77.98 million shares, raising 1.026 billion yuan acquisition of Shanghai Yang Bank Asset Management Co., Ltd. and Gullingen held in Shanghai Yang Xing Copper Co., Ltd. 100% of the equity. Shanghai Yang Xing Copper main business is the production of high voltage, large capacity transformers for the transposition of wire and paper wrap line, profitability is higher than Yung-won ultra micro enameled wire of the main business.　　If the reorganization succeeds, Yung wins Ultra Micro will realize its electromagnetic line product diversification idea, and directly pull up Rong wins ultra micro business performance. According to the reorganization plan, after the reorganization, the Shanghai Yang Xing Copper Material Limited Company's assets 2010, 2011, 2012 net profit will be no less than 82.17 million yuan, 77.9 million yuan and 88.94 million yuan respectively.　　At that time, Yung-won Ultra micro 2010 years ago three quarter net profit is only 10.19 million yuan. But the end result was a loss for everyone.Wang, Yung-won Super micro restructuring of the wishful thinking frustrated. The restructuring programme, which has been unveiled for 6 months, is still not complete.　　Yung-won Super Micro has to announce the end of the implementation of asset restructuring matters, and promised three months not to start a new restructuring plan.　　Yung-won ultra micro-given the reason is that the issue of shares to purchase assets involved in the identification of the assets of the title to confirm the workload, the ownership recognition time is longer, can not complete the asset evaluation and to the higher authorities to report the work. In fact, in the announcement of the reorganization plan at the same time, Yung-won Ultra Micro has disclosed an important correlation information.　　Because Yang Xing copper material shareholder and deputy general manager Jiang Shefang son of Lu Sheng Building, Finance Department cashier Ma Huiqing, the Executive department driver Wu Yunfeng and Yung Sheng Super Micro shareholder Zhuhai Hua Chong, in the reorganization matters in the first 6 months before the sale of the company shares, the SFC is on the relevant stock trading situation, which may have impact on the major asset restructuring program. After the failure of the restructuring, Yung-won ultra micro-stock prices plunged, several struggles are still hard to reverse the decline.　　Up to now, Yung-won ultra micro shares in the 7.6 yuan/stock hovering up and down, the market value of the equivalent of about half 2010. After 2010, Yung Sheng Super Micro no longer related to the reorganization of news, the Jianzhong led his team to carry out a wave of shell war. But in the current profitability of Yung Seung-won, it needs high-quality asset restructuring to pull up, otherwise the short-term still may be at any time again into a deficit dilemma.