Duolun shares 2.1 billion shell a little sea run film Panqin undecided determination

Since 2010, Duolun shares began to appear to be backdoor rumors, including Wah Tin Group, securities companies, film and television companies, including the recent sea run film rumors the most true of the current market capitalisation of 2.1 billion yuan, the top ten shareholders of natural persons 9 seats. Market capitalisation is large, but it is easy to be manipulated by major shareholder and investment bank intermediary. The company's actual control of the two-year exchange of three, before and after the two chairman of the SSE publicly denounced or criticized, the reorganization is expected to be higher. Market capitalization is too big, the subsidiary is in a lawsuit a senior person in the capital market said that the Duolun stake in addition to market capitalisation and equity, the subsidiary disputes, the current high stock price is also an important factor in blocking acquisitions. In terms of market capitalisation, the total market value of Duolun shares is 2.1 billion yuan, which is higher than the level of 1.5 billion below the market value of good shell resources. 340 million share of the total equity, but also higher than the quality of the shell of the 200 million-unit standard, not sell the shell advantage. The proportion of Duolun shares is very fragmented, the top ten shareholders of natural persons accounted for 9 seats. The only institutional shareholder, Duolun Investment (Hong Kong) Limited, holds a 11.75% per cent stake as the largest shareholder. The lack of rational and professional institutional shareholders means that its level two market is easily manipulated by major shareholders and investment banking intermediaries. Assets and liabilities, the total assets of 987 million yuan, the total liability of 387 million yuan, net assets of 528 million yuan, the end of June this year, the asset-liability ratio of 39.18%, nearly three years the highest period of June 2012 at the end of 46.06%, debt pressure is not big. Duolun shares current main real estate business, its two real estate company development company is the main source of profit. Which holds a 70% stake in Jingmen Real Estate Co., Ltd. Jingmen Real estate began to operate at the end of 2010, "Han Tong-chu Tiancheng", and at the end of 2012 profit of 25.95 million yuan, to achieve the first profit. The company's dismal operating income increased by 28.1704 million yuan in the first quarter of this year, soaring 1727.93%. But Jingmen is still owed the company 240 million accounts receivable, accounting for the total amount of accounts receivable 93.59%. The company also holds Nanchang Flat Sea real estate development 45% Equity. The first half of this year, Nanchang Flat Sea main business income 126 million yuan. It is noteworthy that this July, Duolun shares will be the South Changping Sea Court. The announcement indicated that Duolun shares to the South Changping Sea related responsible person proposed, the request provides the Nanchang Flat Sea 2013 first half year report, the related financial situation and the company business development related situation, but was rejected. The case has been accepted by the court. A senior person in the capital market said that the Duolun stake in addition to market capitalisation and equity, the subsidiary disputes, the current high price is also an important impediment to acquisitions. September 17, the unit closed at 5.81 Yuan. The actual control person frequently turbulence unfavorable protection shell in less than two year time the Duolun shares successively experienced two times actual control person change, two presidents were denounced by the supervisory authority and informs the criticism. Since December 2011, in less than two years time has undergone two times the actual control changes. Duolun shares formerly known as Fujian Hao Sheng, December 1993 listing, is the first "Taiwan-funded concept" listed companies, once intoSelected Shanghai 30 Index sample stocks, become the market chasing hot spots. 2000, ushered in the new club-Hong Kong capital Players Chen Longki, then renamed as Lee Ka shares. May 2006, the company's shares changed to Shanghai Duolun Industrial Co., Ltd., that is, "Duolun shares." In the 11 years from 2000 to 2011, Duolun shares have been held in Chen Longki hands. At the end of 2011, Chen Longki through reduction, transfer and other means, empty the equity. December 6, 2011, Li Yonghong to the stock, and promised not to transfer equity within 12 months. However, less than half a year, Duolun shares again took place in the transfer of equity. In violation of the "Listed companies acquisition management measures" and other relevant provisions, Li Yonghong was publicly denounced by SSE. The second person is a fresh word. June 2012, fresh words to 340 million of the price, equivalent to 8.6 yuan per share, become Duolun shares holding shareholder Duolun investment in the actual control, this price compared to Li Yonghong 360 million yuan of the bid price, less 20 million. In other words, Li Yonghong holding Duolun shares for half a year, carrying losses of 20 million. His predecessor, Chen Longki, pulled out of the Duolun to cover more than 1.16 billion. September 12, 2012, Duolun shares issued a notice, because of the alleged failure to disclose information, the company's new chairman of the Securities and Futures Commission Shanghai Inspection Bureau filed for inspection, at this time from its chairman less than one months. The 2012 annual report shows that the Shanghai Stock Exchange has reported fresh criticism. After the fresh words were checked, the Duolun shares of the senior management into turmoil. September 21, 2012, general manager Riock Difficult, board Secretary Zhang Ming and financial controller Shang resigned on the same day. At present, the Secretary of the general manager of the post is not the next appointment. With the actual control of people change, the company's main business swing. Chen Longki in power in the early days, has Duolun shares of the main business from the construction of sanitary ceramics into the real estate industry. Li Yonghong, he will Duolun shares of the main business adjustment for the coal industry. However, the transformation of the main business has not yet begun, the actual control of Duolun shares have been replaced with fresh words. As with Li Yonghong, fresh words are also seeking Duolun shares of change. Management turmoil, the main business is unpredictable, so that Duolun shares of the shell war increased the difficulty. Gossip object Sea run film and television has been with Duolun shares to discuss backdoor matters, the final results how not to drag too long. Behind the frequent change of the actual control person, the Duolun shares are expected to be backdoor more and more high. From 2010 onwards, Duolun shares began to appear backdoor rumors. Gossip objects, including Wah Tin Group, securities companies, film and television companies, rumors of the company and Duolun shares of the real estate industry is not significantly related to the Duolun shares to seek the transformation of the main business will coincide. Recently, the Sea run film backdoor Duolun shares of the news when there are outgoing. Hai-run film and television is the largest private TV drama production company, as early as 2010 has begun to prepare for listing, this is expected to be listed in Hong Kong within 2011 years, after the Hong Kong stock market downturn postponed the listing plan until February 2012 to launch the Hong Kong IPO, so far no fruit. Recently, the Great Wall film and television backdoor Jiangsu Hong Bao, in the capital market has set a continuous 11The myth of a trading board. "Can't wait any longer!" "Hai-run film and television executives in the interview revealed that the company will be the same as the Great Wall film and television, do not rule out the formal announcement of the launch of a backdoor listing plan." On whether to contact the company's shares, the core executives did not explicitly deny that the media said "has been talking, but with several companies are talking, but ultimately borrow whose shell, we have not finally decided that negotiations will not drag too long." "From September 16 to 17th, the reporter repeatedly called the Duolun Stock Securities department to inquire about the progress of reorganization, but its public telephone in the working hours, always no answer." "Now basically a poor performance shell company, there are more than five backdoor side of the talk." "said the sponsor of a Shanghai Securities investment bank. The price of shell resources is rising as the SFC has no clear timetable for restarting its IPO. Duolun shares are considered "overpriced".