Hisense Network curve MBO: Network technology company in Fog

Qingdao Laoshan District Zhuzhou Road South, Hisense Network Technology building is about to be erected.　　Along with this intelligent building is about to be completed, is the Hisense Network technology company (hereinafter referred to as "Hisense Network") is coming on the market rumors.　　May 13, the reporter to the Hisense network listed counseling brokerage Galaxy Securities, but the other side with no public information for the company declined to comment.　　At present, the only certainty is that the construction area of 80,000 square meters, the total investment of 760 million yuan intelligent building has been with Hisense group listed companies missed. This reporter investigation found that in its first major shareholder Hisense Electric appliances for many years to disclose the annual report, Hisense Network are loss status.　　And this and Hisense network in the market, the cry of the performance of repeated gains. A deal has since attracted industry attention.　　2007, Hisense Electrical appliances to lose 1.6974 million yuan to the price of the latter sold Hisense Electronic Holdings, took over that year, the network technology companies signed billion large single. Hisense Electronic Holdings is very special.　　The company is a "shell" company set up by the Hisense Group for the implementation of equity incentives by Zhou and other executives, Zhou and other executives currently hold a 48.99% stake in Hisense Electronics Holdings. And just a year ago, Hisense air-conditioning to the white electricity assets into kelon air-conditioning, has sparked the speculation of Hisense executives curve MBO. Hisense Air conditioning of the actual control founder is Hisense Electronic Holdings.　　At that time, Hisense Electronics has controlled several major sectors of Hisense Group.　　If Hisense Network is successfully listed in the near future, Hisense Electronic Holdings, as the operating platform of Hisense executives ' MBO, will undoubtedly expand its boundaries again.　　In previous life, May 12, Hisense Network Marketing Department of reporters on the listing of the inquiry, said the relevant matters do not know. Hisense Network in July 2009 issued a listing advisory notice, was at that time was the capital market to look rather thick, think it is expected to impact the first wave of gem.　　But it is still silent today. Hisense Network is one of the important pieces in the information software industry of Hisense Group, which is the leading industry of the group.　　December 2005, in preparation for the Olympic Games in the Intelligent Transportation system procurement bidding, Hisense Network defeated from the global competitors, the winning bid for the 2008 Olympic Games Beijing Intelligent Traffic Management investment construction project, thus fame.　　According to the Hisense Network chairman Stephen Green, its domestic urban intelligent signal Management system has accounted for 20% of the share of the rapid transit Intelligent System (BRT) market share is reached 70%, and thus created the 3rd World system of Intelligent traffic--hicon.　　According to Qingdao Laoshan District Technology Bureau Introduction, only 2009 1-April, Hisense Network technology company to achieve sales revenue of 50.81 million yuan. Hisense Network predecessor is Hisense Software.　　According to the 1998 annual report of Hisense Electric Appliances disclosed, the company changed the direction of raising funds, investment 4.5 million yuan to form "Qingdao Hisense Software Co., Ltd.", holding 30%, as the largest shareholder. 2000, after the expansion of shares, Hisense Software officially renamed Hisense Network Technology Co., Ltd.,The registered capital is changed from 15 million yuan to 30 million yuan, the proportion of Hisense electric appliance is reduced to 24.6%, the investment amount is 7.38 million yuan; the proportion of Hong Kong-Chongqing International Stock Company which is listed by venture capital is 35%, and the rest are held by Hisense Group, Hisense Real Estate Co., Ltd. and Qingdao University respectively.　　In the announced shareholding ratio, Hisense Group and Hisense Electric Total shareholding of 38.54%, Hisense Real estate holdings 3.06%, Qingdao University holds 6.5% shareholding, and another 16.9% of the shares did not disclose the bearer information, it is speculated that the shareholders should be the Hisense Network technology executives layer.　　The fog of network technology company Hisense Network after the advent of the people can not see through the feeling.　　The first is that the information it transmits in different channels always gives people the feeling of ice and fire.　　To view the annual report of Hisense Electrical appliances, as of 2007 Hisense Network technology has been losing money.　　2001 Annual report disclosed that the network technology accumulated loss of 933,800 yuan, book value of 6.4462 million Yuan, 2002, the cumulative loss of 3.767 million yuan, book value of 3.613 million yuan. Since then, as the book value has increased, the losses have gradually widened-2003,　　Cumulative loss of 3.321 million yuan, book value of 4.059 million Yuan, 2004, the cumulative loss of 3.8624 million yuan, book value of 3.5176 million Yuan, 2005, the cumulative loss of 4.2909 million yuan, book value of 3.0891 million Yuan, 2006, the increase in income of 1.3005 million yuan, book value increased to 4.5292 million yuan.　　In 2007, the trade that changed hands to Hisense Electronic Holdings is the most important turning point in the history of Hisense Network growth. 2007 Annual report disclosed, Hisense Electric "will be held by the Qingdao Hisense Network Technology Co., Ltd. 7.38 million shares (the total amount of 24.6%) all transferred to Qingdao Hisense Electronics Industry Holding Co., Ltd., and on March 13, 2007 to obtain the agreement of Qingdao Municipal Sasac, According to the evaluation Report No. No. 3014 of Lu Zhengxin (2007), the transfer price of equity is 5.6826 million yuan.　　"Equity investment 9 years, Hisense Electrical appliances to lose 1.6974 million yuan out."　　Regarding this transfer price, in the telephone of May 12, Hisense said "it is inconvenient to make an evaluation".　　In fact, in the year before the transfer, Hisense Network won the bid for Beijing Olympic Games Intelligent Traffic Management project, the company's performance is expected to be fully upgraded.　　From the public report also can see the Hisense Network technology performance increased significantly many signs. January 2006, Hisense Network technology company and Shiseido signed billion large single, Hisense Network technology website said: "Hisense and Japanese Shiseido on the construction of cosmetics stores (mainland China) chain business system to reach a strategic cooperation agreement, the amount of billion cooperation.　　Since then, Hisense Network technology has continued to spread the contract of intelligent Transportation, commercial and public transport system reports. In fact, even in the period of Hisense Electric company holding the stake in Hisense Network technology, there areA lot of "positive" information, Qingdao Science and Technology Bureau 2005 of a material on the introduction said, the year after billions of dollars in software companies include Qingdao Hisense Network Technology Co.　　In the year of the annual report of Hisense Electric appliance, Hisense Network technology still lost as before, Hisense network value geometry, perhaps only Hisense itself clearest.　　What is the sacred side of Hisense Electronics? The reporter learned that Hisense Electronic holdings is the implementation of the shares of Hisense Group Incentive, by the group and Zhou and other senior executives jointly established by the company. To November 2006, Hisense Group accounted for 55.59% of the total shares, Zhou and other 77 natural person shareholders accounted for 44.41% of the total. By June 2008, the shareholders of natural persons in Hisense Electronic holdings accounted for the total stake has reached 48.99%.　　At present, Hisense Electronic holding has been holding Hisense Real estate, Hisense Air conditioning and Hisense network technology, that is, in addition to the listed company's color TV business outside the major industries have been included. Hisense Electronics took over, Hisense Network embarked on a fast track.　　May 2008, Hisense Network Technology announced a high profile with IBM Strategic Alliance, June, finalized IBM Acquisition Hisense Network Technology 20% stake, but the amount of secrecy.　　According to Hisense Network Science and Technology Logistics and Business Department general manager Liu Chengzhong introduced, after the increase in shares of Hisense Network technology total Equity has reached 39.15 million shares.　　In the unknown evolution roadmap of Hisense Executives ' MBO, Hisense Network has obviously become a key node.　　and specific to Hisense privatization and executives of MBO, its implementation path is not the most radical, and its program also through the layers of state-owned departments and regulatory authorities approval, but the outside world is still a lot of criticism.　　It is considered that the main issue is the loss of state-owned assets in the process of privatization and the damage to the small shareholders of listed companies. Then focus on Hisense Electric transfer Hisense Network transaction itself, which many details have been blurred, and the profit chain behind it is clearly visible.