Hindered control *st Jia Rui *st Yan Huang voluntarily abandoned real estate restructuring

Since the beginning of 2010 's real estate regulation of the new deal, the SFC has suspended the real estate development enterprise Reorganization application. *st Jiarui (000156) November 12 announced that, as the current "no longer suitable for the real estate enterprises as the proposed assets for the listed companies to restructure the major assets, the company and the reorganization party after friendly consultation, decided to terminate the major asset restructuring according to the relevant procedures." *st Jiarui has been trying to restructure its cards since April 13, 2006, when the company stopped listing.　　The premature death of the property asset scheme means that 4.5 of the effort has been wasted. The real estate control in accordance with *st Jiarui in November 2009, the reorganization plan, the company introduced Beijing Tian run real estate development group and Hunan Xiang-Hui Asset Management AG as the company's restructuring party. The same as once the big Four Xiang shares, *st Jia Rui's reorganization scheme almost copy Jiakai City restructuring mode: Companies to have the strength intermediary company to sell assets, the funds obtained for the liquidation of debt, the formation of the net shell and then by the reorganization of the real estate business. Specific to this *st restructuring plan, St Ka Rui All assets sold to the intermediary company Hunan Hui, the latter also committed to the settlement of outstanding debts and contingent liabilities, thus *st Ka-Rui became an asset-free, debt-free net shell; then St Jiarui to Beijing Tian run Albert Investment Management Co., Ltd., Beijing Tian Run Sheng Letter Technology Co., Ltd.　　, Beijing Shunde Tianwei Technology Co., Ltd. and Beijing Shunde Tiancheng Technology Co., Ltd. issued 1.065 billion shares to acquire its holdings of Beijing Tian run real estate development group 100% Equity, and thus become real estate development and management company. However, into the 2010, the rapid rise in real estate prices attracted regulatory sticks. The company reported the reorganization plan to the CSRC soon, the state issued a series of property control policies, the SFC also suspended the application of real estate development enterprises reorganization, and accepted the real estate reorganization application for advice of the Ministry of Land and Resources.　　Since October, the second round of real estate regulation, St. Kerry restructuring plan completely aborted. A number of companies to abandon restructuring as early as March 31, 2010, the SFC issued a notice, asked St Jiarui to submit the "Hunan Jia Rui New Materials Group Co., Ltd. major assets sold and issued shares purchase assets and related transaction application document" Put forward feedback, and asked the company in 30 working days to respond to feedback comments. However, the company did not complete the relevant response materials within 30 working days, and submitted a written reply to the Securities and Futures Commission on the submission of the feedback on the application documents for the sale and purchase of assets of major assets.　　The move was interpreted by the market as the company's intention to suspend the restructuring process. But St Jiarui finally failed to wait until this day. Cai, an analyst with the daily Economic news, said: "Real estate regulation will continue, temporarily see no relief." It's hard to see regulatory easing that eventually gives the company away from restructuring. Cai said at the same time, "real estate regulation has been more than 20 of the real estate listed companies restructuring or financing plans blocked, has nowTwo or three listed companies have changed their restructuring plans. "*st White Cat (600633) is seeking the capital injection of Zhejiang newspaper Media Holding Group Co., Ltd., *st Yan (000805) also announced yesterday that the plan to terminate the real estate restructuring.