Fortune to sell assets to save self-restructuring expected to tangle again

After the announcement of the sale of two assets, the restructuring rumors of a resurgence of the Japanese electronics (600203.　　SH), its share price trading on October 27. According to the October 26 and 27th announcement, the company held Guotai 11.66 million shares officially decided to transfer to the company's actual control of Fujian electronic information Group, the transfer price of 13 yuan/share, the transaction amount of 151.58 million yuan　　To the transfer of Chunghwa picture tubes Video 204 million shares, the transfer of the total amount of 176 million yuan. As early as the beginning of this year, on the basis of the planning of major asset restructuring on February 4 from the suspension, postponed 7 days to March 19 after the license, but the condition is not mature for the announcement of the reorganization terminated.　　By August 5, Fortune Day electronic stock price suddenly strong trading, the next day, the company issued a clarification bulletin denied and Taiwan Crystal photovoltaic major asset reorganization.　　It is noteworthy that, unlike the March announcement of the termination of the reorganization, the August 6 announcement of the day did not promise the next 3 months do not plan restructuring matters.　　However, October 26 and 27th announced the transfer of assets also constituted a major asset reorganization, has been approved by the Fujian provincial state-funded committee, the Sun will be held on November 11, the general meeting of shareholders to vote, reported to the SFC audit. The reorganization of rumors after the "earlier, the Fujian Sasac has discussed with the Chinese management, intends to let Hua-ying photoelectric backdoor electronics, plans to take the way of directional add to the shareholders have been the blessing of the electronics, but the final results have changed, the Chinese map of the reorganization and the Sun-day electronics is the Fujian electronic information Group of Fukien.　　"says one person close to the sun. Since then, the authorities concerned backdoor reorganization of the electronic action did not stop, "Fujian radio and television Group has also been approached to discuss the plan to inject the network of broadcasting and television assets, but ultimately failed to go." The above people said, "the most enthusiastic is Fujian coal industry group, still in efforts to promote backdoor electronics."　　Fujian Coal Industry Group has been merged with Fujian Building Materials (holding) Co., Ltd. at the end of last year to become more Fujian energy group.　　According to the above people said, Fujian Energy Group plans to its subsidiary of Fujian Coal and Electricity Co., Ltd. into the electronics, seeking to borrow shell listing. "Fujian province Sasac has convened Fujian electronic information Group and Fujian Energy group to discuss, but Fujian electronic information group does not want to give up the control of the electronics." "The person said," Fujian electronic information Group once held Fujian, the star network Rui Jie, the real Tatsu group and other listed companies, have become a shareholding enterprises, so unwilling to be the only control of the listed companies of the company's electronic hands. "But Fujian Energy group is the original intention is not changed, the reason is that Fujian coal power stock Sprint after the failure of the IPO, has been listed as a turn target." As early as September 3, 2004, the sponsors Everbright Securities to the Securities and Futures Commission to declare Fujian Coal shares IPO, but because Fujian coal shares were set up less than 3 years, the original restructuring of the main body nearly 50% of the assets did not invest in AG, not part of the overall restructuring, not in line withBasic issue listing conditions.　　After the sponsorship work was suspended, the process of the listing of Fujian coal-electricity shares ran aground. "Fujian Energy group is also trying to inject the Fujian coal power shares into the sun, but the final results will be seen in Fujian province Sasac's opinion, after all, Fujian electronic information Group and Fujian Energy group are subordinate to the Fujian Provincial Commission."　　The above people think.　　Transfer of assets to save financial costs in view of the Guotai equity and Chunghwa picture Tubes photoelectric shares, the transfer of funds will be used to repay some of the bank loans, supplementary liquidity and investment in new projects to improve the company's asset situation. "This is the Fujian electronic information group to keep the cards, do not want to be eaten by others, only good listed companies, for the government's support."　　"The foregoing is close to the electronic personage of the day.　　The transfer of assets, for the main business is not prominent, poor profitability of the day of the electronics, will reverse the possibility of two consecutive years of loss of fate.　　Public information shows that the last 3 years of the electronics has been in a loss or meager profit status, 2009 net profit loss of 145.3366 million, the first half of this year continued to lose 14.0726 million yuan, and is expected to the first three quarters of the loss in 30 million yuan. Even more unbearable is that the 2009-year asset-liability ratio is as high as 91.17%, although the first half of this year fell to 75.15%, but its total debt is roughly flat with the previous year, the main reason for the decline in asset-liability ratio is the company to participate in Fujian and Fujian (000536.　　SZ) increased capital accumulation caused by substantial increase in the repayment pressure has not been reduced. And the transfer of assets, according to the electronic calculation of Guotai, only after the completion of equity trading, the company about the realization of investment income of 141 million yuan, the first half of earnings will be 0.06 yuan to 0.53 yuan, to achieve a profit.　　However, Chunghwa picture Tubes Photoelectric Equity transfer, the company about the realization of investment income-2.4134 million yuan, earnings per share will fall 0.01 yuan. With the completion of this transaction, more money balances will help Guotai to repay some of the bank's loans in order to reduce financial costs, and to return bank loans for the sale of the shares and Chunghwa picture tubes of the photovoltaic stake, based on the 5.31% interest rate of one-year bank loans,　　Each year can save 8.0489 million yuan and 9.3605 million yuan of financial costs. "Next, the Fujian electronic information Group for the blessing of electronics industry integration is more likely, although the group itself does not have any quality assets, but through mergers and acquisitions, cooperation, joint ventures and other means to expand the main business of the electronics."　　said the person. Fu Day Electronics also said that will speed up the promotion of high-power LED street lights, gas stations with LED display, solar pest lamps, such as the application of industrial products, increase packaging production line of technical transformation input, plans to invest about 30 million yuan to expand production capacity, with 2-3 years time, will increase operating income to more than 300 million yuan　　At the same time through the holding subsidiary of Fujian Fu Day Technology Co., Ltd. to increase capital restructuring, expand the scale of operation, annual export income to maintain more than 100 million U.S. dollars. However, prior to the days of the electronic controlShareholders have reduced their holdings from 52.07% to 38.76%, which has undoubtedly increased the market's expectation that it might introduce strategic investors or restructure its offerings to third parties.