Broad Group's overall property rights 170 million-yuan listing transfer

Project tracking tracing back Beijing Property Exchange recently published information, Hengshui City Sasac listed transfer Hebei Hengshui Yuanda Group Co., Ltd. and cotton textile plant overall property rights, listing price of about 170 million yuan.　　Veteran textile enterprises in charge of the transfer of the project Beijing Zhi Desheng Investment Consulting Co., Ltd. staff said that the broad group is Hebei Hengshui, "benchmarking" one of the enterprises, in addition to Hengshui old work outside the local more influential enterprises, the transfer is mainly for restructuring, the purpose of the withdrawal of state funds. The transfer notice shows, Hebei Hengshui Yuanda Group was established in 1996, the registered capital of 105.4 million yuan, under the Hengshui SASAC, is China's textile 50 enterprises, advanced enterprises in Hebei Province textile industry, ISO9002 International certification enterprises. Hebei Hengshui Yuanda Group Cotton Textile Factory was founded in 1968 Hengshui Area cotton Textile plant, is 115,000 spindles, cloth machine 1200 units, the existing staff of 4731 people (of whom 1029 retired personnel), can produce high-grade fabrics, decorative cloth, fabric 34 million meters, cotton yarn 13000 tons,　　Annual output value of about 360 million yuan. As a veteran state-owned enterprise of Hengshui, Yuanda Group and Cotton Mill have made outstanding contributions to the development of Hengshui economy, but with the rapid development of market economy, the operating system and management system of enterprises have not adapted to the requirements of new situation and new environment, and are struggling in the fierce market competition.　　In the second half of 2007, Hengshui Sasac launched the reform of Yuanda Group and cotton Mill, and adopted the whole transfer of state-owned capital as a one-time exit, including all subsidiaries, subsidiaries and holding subsidiaries of the state-owned shares. The announcement said that the broad group and the cotton mill are two highly correlated enterprises, which should be the parent-subsidiary company, but because of the reason of the business registration at that time, there is no relationship between them as an independent corporation. However, in view of the broad group did not establish an independent financial, no specific business, at the same time, all of the broad group of subsidiaries of the actual investment in the cotton mill, the municipal government decided in the process of restructuring work on the broad group and cotton Mills affiliated subsidiaries to determine the investment relationship between the actual investors, No longer do property and business change registration.　　Two enterprises bundled, and as a whole listed transfer, to achieve the one-time withdrawal of state-owned capital. According to the assessment, as at July 25, 2008, the book value of the broad group of net assets of 26.6037 million yuan, the value of net assets is 99.5946 million yuan, cotton textile plant net assets book value is 30.8362 million yuan, the net Assets appraisal value is 93.6995 million yuan.　　The value of both assets was estimated at 190 million yuan. The transfer price is the net asset valuation minus the value of divestiture assets, about 170 million yuan.　Stripping assets include: Cotton mill family home facilities and land assets of 9.5564 million yuan, the reception office (now Hengshui Guesthouse) 1996 loans of 3 million yuan, failed to recognize the loss has been unable to recover 6.8404 million yuan.　255 MU of quality land assets Beijing Zhi Desheng Investment Consulting Co., Ltd. staff said that the core assets of cotton Mill is still in normal production and operation, with more advanced machine production equipment, high production capacity.　　In addition, the core transfer of assets also includes 255 acres of high-quality land assets (the city has been planning for commercial land 127 acres of industrial land, 127 acres of bustling urban commercial land), as well as a total of about 110,000 square meters of housing construction.　　The transfer notice says the land has a higher value for development and appreciation potential, with an estimated total price of about $229.8799 million as of July 2008.　　For the intended assignee, the transfer notice did not make the request, Beijing Zhi Desheng Investment Consulting Co., Ltd. staff also said that the intention of the transferee in the industry, asset size and other aspects are not strict requirements, just want to have the strength to do the company well, not allowed to buy after the plant to push the redevelopment of commercial real estate.　　At the same time, according to the relevant laws and regulations, after the purchase of the transfer of the target, in addition to the 170 million yuan transfer price, the intention of the transferee will also have to bear the corresponding liabilities. The transfer notice shows that the textile mill's liabilities mainly include 122 million of the bank loans and other payments of 120 million yuan. In addition to 34.7586 million of the financial allocations, and more than 15 million of the insurance premiums, trade union fees and other arrears of incidental expenses, the rest are mainly for payment and rent, while the main subject of the more than 30 million liabilities of the subsidiary of the Cotton Mill holding 60% is the other payable,　　This includes nearly 30 million of the cotton Mills ' land-payable and borrowings, more than 4 million of private loans and a small amount of other money. However, Beijing Zhi Desheng Investment Consulting Co., Ltd. staff said that in addition to payables, Enterprises also have some receivables, these liabilities belong to the normal business operations, did not require the immediate repayment of the assignee, the assignee do not care too, "and other enterprises after normal operation, these are not a problem.　　"In addition, the staff said that at present, and several interested parties to negotiate, but also on the balance, welcomed more interested parties to come, hoping to finally make a most conducive to the development of the enterprise choice." Old textile enterprises can survive only by adapting to market competition. CFP Pictures