East Hundred group Strange stake of the big shareholder initiative abdication doubt

"Securities Market Weekly" Red weekly "author Liu Xiaoxu commercial assets has always been the object of competition for food, Oriental Silver Star, Han Group and many other companies have been continuously raised, so that the two sides of the fierce control of the dispute phone-in constantly. And the East Hundred group has staged an unusually strange almost no gun smoke of the "dispute". The major shareholder's initiative to abdicate is inexplicable. East Hundred Group announced that the two shareholder Fujian Fungqi Investment Co., Ltd. (hereinafter referred to as Fungqi Investment) through the securities trading system centralized bidding transactions continue to buy East hundred Group shares a total of 4.01 million shares, Total shareholding of 21.24%, officially more than the original holding shareholder Yiu Jianhua and its concerted action of Shenzhen Chin Boat Company 21.08% of the shareholding, thereby becoming the company's new controlling shareholder. In fact, Fujian Fungqi investment from March 14, 2012 to September 3, 2013, $548 million to increase the number of East Hundred group, Fujian Fungqi can succeed, on the one hand, the company has been very dispersed, the company's shareholding in July 2012, the change in corporate control, Bo Rui through the increase in the way to complete the former largest shareholder of the East Hundred group Shenzhen Qin Zhou Company's holding, while Yiu Jianhua for the actual controller, the total shareholding ratio is only 21.08 %。 But it is puzzling that, in March 2012 Fungqi investment began to step by step press, but did not increase a share, Yiu Jianhua did not take any action, let the East Hundred group was bought. Because of the Yiu Jianhua control of the Qin Zhou industry in the through the increase in funds obtained 520 million Yuan "ammunition", at the same time, the personal name of Yiu Jianhua directly and indirectly control the total assets of the enterprise about 3 billion yuan, Yiu Jianhua is clearly not lack of financial strength. This may be a different view of the value of the department store, analysts believe. The private holding enterprises, in the decline in gross profit margin, the main business of the department store no improvement in the case can be favored by the capital market, Fungqi Investment said it is optimistic about the long-term investment value of the East Hundred group. After the original holding shareholder Yiu Jianhua, affected by industry factors, East Hundred group performance difficult to change the situation. 2012 reported that the East hundred group net profit fell 88.07% year-on-year. In addition to increased competition and other reasons, the company said the main store passenger flow by the subway construction decline, such as the impact of multiple adverse factors, leading to sales revenue and gross profit margin decline, the same period costs rise. Although most retail companies have higher asset revaluation value, the operation of the property is not sold, making the revaluation of assets difficult to achieve. Therefore, market people also believe that Fungqi investment optimistic about the East Hundred group, mainly or as a commercial enterprise "rich cash flow", the data show that East Hundred Group 2013 medium-term monetary funds for 575 million yuan, the company this year the cumulative purchase of bank financial products amount to 896 million yuan, the amount of money is not due to financial products 553 million yuan, in addition, the East Hundred group as a platform of capital operation is also a reason for fancy. But these apparently last year in the original major shareholder Yiu Jianhua also see, the current Fungqi investment in the massive overweight, Yiu Jianhua but chose "not as" very surprising. At the same time Feng Qi Investment said that the plan in the next 12 months, Yiu Jianhua will continue to stand idly by as it continues to increase its stake in the East hundred group? As for the current shareholding of the first and second largest shareholders, the listed companies said in an interview with reporters that "this is entirely a shareholder level two market behavior, the company will not be very big impact." The future of the company's development direction still exist variables for future operations, the East hundred group related people repeatedly said, "the company continues to be based on traditional department stores, through the transformation of the shopping malls to adapt to new market changes." "And the joint Securities chief strategy analyst Cao Weidong that:" In the lower consumption, the impact of the electricity business, the decline in gross profit, the transformation of the department store is imminent. For example, Suning appliance [Micro Bo], is from the traditional household appliances retail giant to the Internet department store transformation of the Suningyun business, to enter the fast fashion industry, and further improve the retail layout for different consumer groups. "But look at the Suningyun business, the traditional department store transformation is very difficult." Aside from the dispute over equity, securities analysts believe that compared to other state-owned stores, East Hundred group has long been a private enterprise, share diversification, Fungqi investment took the holding right, it is the real estate business investment company, in the real estate business has moved to commercial real estate background, Fungqi investment in the East Hundred group is also in line with its development strategy. Fungqi investment in the future into commercial assets to continue to operate, or to divest existing commercial assets, it is worth the market attention. As of June 30, 2013, Fungqi investment total assets of 505 million yuan, net assets of 120 million yuan, but the first half of 2013 net profit is-8366 yuan. The scope of investment is industrial, real estate, business, investment and so on. The actual control of Fungqi investment is for Ms. Zheng, the legal representative is Schwenyi, and the two are mother-child relationship. and data show, Fungqi investment is Fujian China Union real Estate Development Group's subordinate company, the chairman of the Sino-Union Real Estate is also Schwenyi. Schwenyi has real estate, chemical, hotel and cultural education business, there is no listing platform, the future existence of capital operation space. But Fungqi company said the next 12 months without the East Hundred group main adjustment, asset reorganization plan, also no management personnel adjustment plan, that Fung Qi company exactly want? What is the future of the East Hundred group?