Holding the Ming brand jewelry 92.26% control of the family net worth or up to 15.7 billion

Sitting in the quasi-listed companies Ming brand jewelry 92.26% control of the family wealth or a sudden increase to 15.7 billion yuan Chen Ze gold jewelry business, Zhejiang Ming Licensing Jewelry Co., Ltd. (hereinafter referred to as "Ming brand Jewelry") in the recent past the SFC issued the audit committee.　　directly or indirectly holding the Ming brand jewelry 92.26% stake in the family is about to deduce a wealth myth, Yu's family assets or will increase to 15.7 billion yuan. Yu's family holding 92.26%-ming jewelry prospectus shows that the company issued a total of 180 million shares before issuance, the company intends to issue 60 million shares. Ming brand jewellery controlling shareholder is the Sun Moon Group, which holds 71.3852 million shares of Ming jewellery before issue, accounting for 39.66% of total equity.　　In addition, 8 corporate shareholders hold a total of 60.34% of the 108.6148 million shares prior to the issuance of the Ming brand jewellery.　　Changa, Shingliang father and son is the controlling shareholder of the Sun and Moon Group of two major shareholders, respectively, directly holding the Sun Moon Group 41.21% and 48.24% of the equity.　　If the issue is successfully completed, the proportion of Sun Moon Group holding Ming jewellery will fall to less than 30%. On the surface, Yu's father and son hold the proportion of Ming jewelry is not high. But careful analysis of the other 8 corporate shareholders of the shareholding structure, to Changa, Shingliang father and son as the representative of the Yu clan, the listed before the Ming brand jewelry control rights unexpectedly as high as 92.26%.　　And when the release is completed, the specter of the family of Ming jewelry control will be close to 70%.　　According to the prescribed jewellery prospectus, 8 other legal person shares of the prior Ming jewellery were issued by Yongsheng International, Sun Moon Holding, carrying trade, Xin Fu investment, investment at Bo, joint investment, Yongfeng business and Heng Rui Tai Fu. In addition to Heng Rui Thai Fu, the family in the remaining 8 companies are more or less holding shares. The Sun and Moon Group of Shingliang and his father and son in Shangyu, Yu's family, directly or indirectly holding a total of 166.066 million shares of the Ming brand jewellery, Jiaming jewelry issued before the total share capital of 92.26%.　　The only person who has not seen Yu's family figure is Heng Rui, who currently holds only 1.0002 million shares of Ming jewellery, accounting for only 0.56% of the total equity before issuance. According to the 2010 Annual report on Ming Jewellery, the company's net profit was $216.7746 million and the earnings per share before the release was 1.2 yuan. Reference can be compared to the company Chao Acer (002345.SZ) 79 times times the issue of the price/earnings ratio, the reporter estimated the price of Ming brand jewelry or will be as high as 94.8 yuan.　　This means that the entire family of the Yu clan will be more than 15.743 billion yuan a night.　　Family-style "equity reform" in a series of transfer of equity, Yu's family of "equity reform" so that its shares in the Ming brand jewelry more and more high. Prospectus shows that the Ming brand jewelry predecessor is Shaoxing Moon Star Jewelry Co., Ltd. (hereinafter referred to as "Sun Moon Jewelry"), is the Shaoxing County foreign Trade and Economic Cooperation Bureau and Shaoxing County, Zhejiang Province Keqiao Economic Development Zone Management Committee approved by the Sun Moon Group, Yongsheng International joint venture set upEnterprises, registered capital of 11 million U.S. dollars, of which the Sun and Moon Group contributed 1 million U.S. dollars, accounting for 9.09% of the registered capital, Yongsheng International contribution of 10 million U.S. dollars, accounting for the registered capital of 90.91%.　　It is noteworthy that Yongsheng International, although ostensibly a Sino-foreign joint ventures, is in fact a joint venture between Shingliang and Changa in Hong Kong.　　After the subsequent two replenishment and absorption merger, December 27, 2007, the Sun Moon Star jewelry Investment amounted to 17.5288 million U.S. dollars, of which the sun and moon group accounted for 44.42% of the amount of investment. June 20, 2008, Sun Moon Star Jewelry convened the board of Directors, agreed to Yongsheng International to transfer its holdings of 1.238 million U.S. dollars, as well as Shangxiong holding transfer of 866,600 U.S. dollars in capital contributions.　　The transfer price is based on the audited net assets as of December 31, 2007, and the transfer cost is RMB 20 million and 14 million yuan respectively. On the same day, the Sun Moon Star Jewelry Board also agreed to invest, joint investment, Xin Fu Investment, Yongfeng business new increase registered capital of 2.1046 million U.S. dollars.　　One of the investment, joint investment, Xin Rich investment in RMB 10 million to recognize the new registered capital of 619,000 U.S. dollars, Yongfeng business to RMB 4 million to recognize the new registered capital of 247600 U.S. dollars. At the end of 2008, the company also transferred some shares to Heng Rui and the carrying trade.　　According to the current exchange rate of RMB and USD about 7:1, the net assets of each RMB were about 2.3 yuan. 2009 Sun Moon Star Jewelry held a board of directors, agreed to change the Sun Moon Star jewelry as a whole company.　　The overall change to the audited 2008 annual shareholder profit distribution of 40 million yuan after the net worth of 333.8867 million yuan, based on 1.855:1 of the proportion of 180 million shares of equity.　　After this series of equity reform, the 8 companies owned by the family members of the Yu clan and Heng Rui Tai Fu formed the current ownership structure of the Ming brand jewellery.　　Equity transfer "Flaws" in fact, the entire specter of the family can eventually obtain a 92.26% stake in the Ming brand jewelry, from the time the Sun and Moon Group restructuring. Sun Moon Group was established in October 7, 1995, Zhejiang old Fung Cheung Jewelry Factory staff holding Will (Zhejiang Sun Moon Group staff shares will be the predecessor) and Shaoxing County Sun Jewelry Factory jointly formed.　　Zhejiang old Fung Cheung Jewelry Factory employees will be invested in the group 50 million yuan, accounting for 71.43% equity.　　January 30, 1998, Shaoxing County Moon Jewelry Factory will hold its 28.57% stake in the Sun and moon group, that is, the total amount of capital of 20 million yuan transferred to Shaoxing County Faoquan Yin Jia ban economic cooperatives. June 29, 2001, the Sun Moon Group staff shareholding will be held by the Sun and Moon Group 71.43% of their shares transferred to the Sun and moon investment and specter of five, Shingliang and other 28 natural persons, transfer priceParagraph is 50 million yuan.　　August 6, 2004, Shaoxing County Faoquan Yin Jia Ban economic cooperatives will be 28.57% of the stake to 25 million yuan to transfer the price to Changa, Shingliang father and son.　　However, the assets of Sun Moon Group were not evaluated during the transfer process.　　In the following 2006 years and 2007 years, 6 other natural persons transferred the shares of the Sun-holding group to the family members of the Yu clan.　　At this point, in the case of unaudited, employee shareholding and Shaoxing County Faoquan Yin Jia Ban Economic cooperatives held by the Sun and Moon Group are most of the shares by the family members of the Yu clan.　　Because the nature of the sun and moon group belongs to collective ownership, according to regulations, in this series of stock ownership evolution process needs to evaluate its assets, but the family but the specter of this step omitted. However, Ming Jewellery said that the transfer of the shares had been completed, and has been the relevant rights holders, the competent authorities of the recognition and recognition, and more than 6 years ago, has not been a dispute, has now exceeded the statute of limitations, the transfer of equity does not exist disputes or potential disputes, the issue of the listing does not constitute a major legal obstacles.