Beijing first Thai lightning new fashion industry 7.88 yuan pricing basis of the strange

May 27, Yantai Trendy Industrial Co., Ltd. (600777. SH) 's equity transfer program finally surfaced.　　According to the announcement of the day, Beijing first Thai Investment Co., Ltd. (hereinafter referred to as "Beijing first Thai") and the company's largest shareholder Yantai Dongrun Investment Development Co., Ltd. (hereinafter referred to as "Dongrun Company") and its natural shareholders signed the acquisition of Yantai Dongrun Investment Development Co., Ltd. Shareholding framework agreement.　　At this point, from May 15 trendy industrial announcement announced that the controlling power will be changed in less than 2 weeks time.　　And with the lightning buyers of Beijing's first Thai surface, all kinds of questions are beginning to emerge.　　This registered capital of only 30.3 million yuan, but try to take the Dongrun company holds the trendy industry 133 million shares of the company, in the end why the party sacred? "Mysterious" Company Flash notice shows that the acquisition of the person for the Beijing first Thai Investment Co., Ltd. (or its concerted action). First Thai company intends to buy through this stock, holding Dongrun company not less than 75% of the equity, become the Dongrun company's largest shareholder, and eventually have the right to the new fashion industry indirect control.　　At the same time, the parties to the transaction agreed to the new trend of industrial shares of 7.88 yuan per share of the transaction as the basis for the valuation. Beijing First Thai Investment Co., Ltd. (hereinafter referred to as "first Thai Company") was established in 2006, registered capital of 30.3 million yuan, is an investment management enterprises, mainly engaged in project investment, investment Management, investment consulting business.　　The major shareholder of Hainan Kangqiao Industrial Investment Co., Ltd. (holding 99% of the first Thai company), Hainan Kangqiao Industrial Investment Co., Ltd. (hereinafter referred to as Hainan Kangqiao) the major shareholder for the Lin (holding 100% of the shares). Reporter investigation found that Lin and its holding companies have been operating in the capital market, and quite a preference for investment with speculation on the subject of listed companies, has appeared in the Changshan shares (000158.　　SZ), Dalian Holding (600747.SH) and *st (for *st predecessor) (600515.SH) Three companies in the top ten shareholder roster. According to the Kangqiao of the third quarter of 2009, the Hainan new-entered holding company 2 million shares, ranked top ten circulating stock list. At that time, Changshan shares in the early purchase of land has been appreciated, the company's overall relocation will face a large amount of income outside the business. To benefit from this, Changshan shares in the two-tier market encounter stir Fry. In the short 6 months from July to December, the share price was climbed from 5.8 yuan to 9.32 yuan, out of the highest price in the last year.　　and Kangqiao industry also in the fourth quarter precision profit out, in the 2009 Annual report of the top ten circulating stock shareholders, Kangqiao industrial name has disappeared.　　Coincidentally, the name of Beijing's first Thai also briefly appeared in the 2009 annual report of Dalian Holdings of the first 10 of the list of unlimited conditions of sale of shareholders. The annual report shows that Beijing's first Thai holding 1.3919 million shares of Dalian Holdings, accounting for 0.19% of the total number of shares in the company. It is noteworthy that in the fourth quarter of 2009, the largest shareholder of Dalian HoldingsEven the 180 million restricted shares held by the large Group Limited (16.91% of the total share capital) will be auctioned by the court. If all the auction is successful, it may lead to the change of controlling ownership of Dalian. Although the court stopped the auction of the stake, but benefited from the restructuring concept, Dalian Holdings in the two-tier market trend was once quite eye-catching. July 1, Dalian Holding closed the closing price of 5.84 yuan, and as of December 31 close, the shares have risen to 9.32 yuan.　　Beijing's first Thai is also a short-term holding a quarter after a quick profit to leave.　　In addition, the names of Hainan Kangqiao and Lin also appeared in the *st of the 2006 Annual report, the 2007 quarterly report and the 2007.5 Annual report of the ten circulating shareholders list. The mysterious veil of Beijing's first Thai investors asked reporters: "Dongrun Company holds the trendy industry 133 million shares of the market value has now more than 800 million yuan." And Beijing's first Thai registered capital of only 30.3 million yuan, this time plans to buy dongrun not less than 75% of the equity, in addition, the bulletin also did not disclose Hainan Kangqiao and its major shareholder Lin details. The entire takeover plan looks like a myth! "In the new fashion industry May 27 announced the announcement, also mentioned the acquisition of Beijing's first Thai holdings of one of the main holding subsidiaries of China Huahai Investment Guarantee Limited (hereinafter referred to as" Huahai investment ").　　According to the introduction, Huahai investment is a registered in the State administration of industry and commerce of the enterprise, registered capital of 200 million yuan, the total limit of 2.2 billion yuan, in the country with investment, security, asset management three major business scope.　　Reporters through the internet to understand that Huahai investment was established in 2003, is one of the State Council SASAC directly under the China Huaxing Group Holdings of industrial investment, financial guarantee company. January 2008, China Star Group in Shanghai, the United Property Exchange listed on the transfer of its holdings of Huahai investment 10% of the stake, the listing price of 20.1897 million yuan. China STAR Group said Huahai investment in state-owned relative holding limited liability company, as of September 30, 2007, its total assets of 226 million yuan, the total liabilities of 24.151 million yuan, the last year net profit loss of 173,500 Yuan.　　Prior to the auction, China Star Group held a total of 40% per cent of the investment in Huahai, which was transferred to 10% of the transaction.　　And then how the Chinese sea investment was moved by a state-owned relative holding company, eventually changed to become the main holding company of Beijing's first Thai, all of which are unknown.　　The odd 7.88 yuan pricing basis in addition to the mystery of the party's lightning, the acquisition of the stock market with a trendy industry per share of RMB 7.88 yuan as the basis for transaction pricing is also worth a good scrutiny. Reporter noted that 7.88 yuan trading price only after trendy industry nearly a year to the highest closing price of 7.95 Yuan, far higher than the recent trading days of the trendy industrial two-class market stock price.　　Most of all, trendy industry has not made any statement on such a high pricing basis. An industry that declined to be namedLegal experts told reporters, from the new trend of industrial announcements, 7.88 yuan is only as the basis for the purchase of shares, not the final determination of the two sides of the acquisition pricing.　　After the two sides signed the framework agreement, on the relevant acquisition contract matters discussed, will be 7.88 yuan as the reference standard of equity acquisition price, the final price may fluctuate up and down 7.88 yuan. The experts also said that after signing the framework agreement, the two sides will also discuss the specific circumstances of the transfer.　　The equity transaction is formally completed only if the negotiations are successful and if agreement is reached on the relevant issues and the contract of equity transfer is finally signed.　　And trendy industry also said that the parties to the transaction agree that if the parties do not reach a formal equity acquisition (transfer) contract within 60 days after the conclusion of the framework Agreement, unless the parties agree to separate consultations, the acquisition negotiations will conclude and the Agreed Framework agreement is terminated.　　In this regard, the experts believe that the two sides also need to carry out further negotiations on the details of the transfer of shares, which involves the specific price of the transfer of shares, the number of shares and so on, whether the final signing of the formal equity transfer contract still has greater uncertainty.　　Subsidiaries of major projects did not notice in the announcement of equity transfer at the same time, trendy industry but concealed a major project did not notice, which also makes people feel puzzled. Reporter in Jiaodong news Network to find a news, April 10, 2010, High-Tech Zone management committee and Shandong Silver and YiHai Real Estate Development Co., Ltd. signed a letter of intent, 6 billion yuan large-scale amusement park project formally settled in the High-tech zone.　　The project will start in mid-September this year, completed by the end of 2012 and fully operational in the second half of 2013. "Silver and YiHai-Our home Expo amusement Park" project by the Shandong Silver and YiHai Real Estate Development Co., Ltd., located between the fish Bird River and Sinan, the northern area of the smoke Granville, the total investment of 6 billion yuan, is a residential forum, residential Expo, leisure and recreation, celebrity vacation, residential research and development,　　Home furnishing materials and household goods exhibition six integrated Park. It is noteworthy that, February 23, 2008, trendy industry and Yantai Dongchen Investment Co., Ltd. signed the "Stock Exchange contract", the company to hold the Yantai casting New Investment Co., Ltd. 100% Equity exchange of Yantai Dongchen Holdings of Shandong Yinhe YiHai Real Estate Development Co., Ltd. 50% equity. After the completion of the equity exchange, trendy industry holds 50% equity stakes in the YiHai real estate of Shandong Galaxy, and the Shandong Galaxy YiHai officially becomes a subsidiary of the company.　　And another puzzled is that the subsidiary development and Construction, the total investment of 6 billion yuan large projects, trendy industry has not been announced to investors. Not only that, trendy industry to the company's Yantai Yangma Racecourse project situation also disclosed very little. The reporter learned from other sources, Yantai yangma Horse racing field reconstruction and expansion project in June 2009 successfully passed the completion of the acceptance, the total investment of 76 million yuan. Yangma Racecourse was founded in 1984, has undertaken the national equestrian race, the international horse-linked obstacle race, six games horse11 major competitions at home and abroad. This is the 11th session of the National Games modern five equestrian obstacle race and cross-country.　　Trendy industry started in June 2008 on the Yangma racecourse for the overall reconstruction and expansion, after the reconstruction of the racecourse will become the largest modern horse racing field in Shandong Province. In addition, the new fashion industry 2009 Annual Report disclosed that the company achieved net profit of 12.63 million yuan, including the company Yangma Racecourse Reconstruction project received the municipal government grants 34.9488 million yuan.　　Without the government subsidy to the Yangma racecourse, trendy industries would lose more than 20 million of the actual losses. However, trendy industry has never announced to investors the construction process of Yangma Racecourse, project investment and other important information, only in the 2008 annual report simply confessed to "do a good job in Yantai Trendy Industrial Co., Ltd. Yangma Qin Huang Sports and entertainment center, the 11th session of the National Games venues construction work, with the" Organizing Committee "do The undertaking of some horse racing projects. The reporter immediately to the above many questions to contact trendy industrial dong Chang Zongli, but as of press, the company Dong Secret Telephone has been no one connected.