China Merchants property to revoke private offering scheme

NetEase Finance May 12, China Merchants Real Estate announced today, due to the economic environment and changes in policy, the company's share price also fell sharply, the company's board of directors proposed to revoke the non-public offering of stock options. Prior to this, the real estate stock investment has been adjusted a lot, so the issue of the IPO price from 28.12 yuan down to 20.60 yuan, but after the company's share prices have plummeted.　　In view of this, the board of Directors of the company intends to agree to revoke this non-public offering of shares and submit the bill to the general meeting of shareholders for consideration.　　July 25, 2009, China Merchants Property issued a notice that no more than 10 specific investors will issue no more than 200 million shares, the issue price of 28.12 yuan/share, the estimated amount of financing is not more than 5 billion yuan. In accordance with the previous plan, the investment in China Merchants Real estate raised funds, mainly will be used to buy large shareholder Shekou industrial zone owned by the Shan Nine Project land tenure and follow-up development input, the rest of the fund-raising will be invested in Beijing Park 18,723th, Beijing Bridge Two to four, Shenzhen Xixiang project, Suzhou Little Rcok two to three,　　Shanghai Bay Garden B Block a stage, C block and other projects. China Merchants Real Estate 09 revenue growth of 183.72%, gross profit year-on-year growth of 183.12%, but net profit growth of 33.93% per cent, to achieve a share of 0.96 yuan earnings.　　Bohai Securities that the company has 12.1904 million square meters of land reserves, according to 09 sales area calculation, can last 10.06 years, land reserves relatively abundant.　　Lin Shaobin, managing director of China Merchants Real estate, said in a 09-year performance statement that the 2010 sales target was 15 billion yuan, and the planned sales were up to 13 billion yuan and the sales area reached 1.3 million square meters. Today, China Merchants Real estate rose 3.23%, reported 16.32 Yuan.