Knot coal has "bomb" Guangdong Hongyuan to buy latent risk

Source: Internet
Author: User
Keywords Purchase price bomb coal knot
Every reporter Shaoyan yesterday, Guangdong Hongyuan A (000573, closing price of 4.48 Yuan) announced that the company invested 44.88 million yuan to acquire Weining County Coking Co., Ltd. (hereinafter referred to as coking Company) 60% of the equity.  Stimulated by this message, yesterday, Guangdong Hongyuan a first opened that is a huge amount of pay to seal the death limit.  However, the daily economic news reporter found that Guangdong Hongyuan A acquisition of the above coal stakes or a potential debt risk. Coal mine financial system is not perfect bulletin shows that Guangdong province in the middle of the Pearl River accounting firm in the audit of the coking company found that due to the financial audit mechanism is not perfect, difficult to obtain the coal coking company in 2008 before the actual operation of the relevant data, so the audit institutions have failed to audit its financial statements for  Because the original shareholder of the coking Coal Company undertakes to remove the intangible assets such as the company's tangible assets and the land use right and mining rights of the Walnut mine, the other creditor's rights and liabilities are owned by the original shareholders and are responsible for cleaning up, so the company's financial statements are only audited as at March 31, 2009. As of March 31, 2009, the total assets of the coking company is 22.6912 million yuan, the net asset is 16.9814 million yuan, the liability is 5.7098 million Yuan, 2009 1 ~ March,  Coking Company to achieve operating income of 3.1161 million yuan, operating profit of 1.3106 million yuan, operating income (mainly fixed assets) 16.4629 million yuan, net profit of 17.1542 million yuan. Data show that the company's shareholders are two natural persons, of which Caiden shareholding 96%, Yang Xiaoyun shareholding 4%.  Walnut Ping Coal Mine in 1998 by a local Caiden investment start-up, coal mine legal person Caiden, the manager of the Caiden son-in-law of E. Both parties agree that the debts and liabilities of the coking company and the Walnut coal mine are zero, and the creditor's rights and debts are Caiden, and the creditor's rights and debts shall be owned and borne by the acquirer.  As of March 31, 2009, the knot in the coking company due to the Caiden bear or enjoy the debt owed 17.9962 million yuan, the inventory of 2.267 million yuan, the debt payable 2.4119 million yuan.  Some investors can not help but worry, if Caiden and other people for various reasons can not repay the coking company before the debt owed, that Guangdong macro far A is not bear the potential debt risk? In this respect, Sichuan Kang-Wei law firm lawyer Bingbin to the "Daily economic news" reporter said, Guangdong Hongyuan A is only a stock purchase, Knot coal Char company as an independent legal personality continues to exist. The company's previous creditors still have the right to repay debt to the coking company.  If Caiden can not repay the debt, Guangdong macro far a will have to bear the obligation to repay. Subsequently, "Daily economic news" reporter to the company as an investor, the company staff said: "We have been in contact for two months, we do not see the problem." If the other party has concealed, we can be prosecuted to it, but also the guarantee company to do the guarantee, the guarantee publicThe size of the division is still considerable. "The bulletin showed that the company was founded in July 1999 and has the right to mining the walnut-ping coal mine in the coking company. According to the reporter understand, walnut ping mine in the early morning of December 28, 2006, a roof accident occurred, 1 people died. For the safety of coal mines, Guangdong Hongyuan a staff said: "The company attaches great importance to the safety of coal mines, after the handover will increase the safety of investment, and strengthen management."  "Real estate mining or the development of Guangdong Hongyuan A of the coal mine acquisition, does it mean that Guangdong macro far a will gradually from the real estate listed companies to transform into mining property companies?" Company staff said: "We have not planned to change, this is only a preliminary attempt, because the company from the personnel, technology and other aspects of the transformation of the mining company's strength is not enough." In fact, Guangdong Hongyuan A in its annual report has disclosed that the company's existing land reserves can only maintain the next 5 years of development and use, to identify suitable land reserves is the company's development priorities.  On the one hand, the company will speed up the search for land resources, to maintain the real estate business continuity and stability, on the other hand will seek cooperation opportunities for other projects, nurture and nurture new profit growth point, promote the company's sustainable development. "We think the time is right to intervene and the price is reasonable," said the staff member, who chose to buy a mine. The transaction price of the acquisition is cheaper than the estimate.  "According to the announcement, the transaction price is 4.6406 million yuan lower than the evaluation value." According to the staff, walnut Ping Coal production will be mainly used for thermal power generation, the company is optimistic about future profitability. If the coal mine goes smoothly, the company will develop both in real estate and mining. "We are cooperating with the provincial geology and mineral resources, they have the advantage of information, the company may continue to find the right resource in the future."  The worker said. In Guangdong Hongyuan a busy to acquire coal, while the recent real estate market has also quietly changed. Guangdong Hongyuan A staff said that the company also felt the real estate market signs of recovery, compared with the loss of 110 million yuan last year, the company will achieve profitability throughout the year.
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