March after the suspension of restructuring to force Jinan iron and steel stamina full

Three months after the suspension, Jinan steel and Laiwu steel shares of the reorganization of the drama finally kicked off again.　　The latest report of the Hunan Institute of Securities Research said that after the reorganization, the new Jinan steel financial situation will be improved, capacity will be greatly increased, but the return on earnings need a long time, but also pay attention to the steel market volatility, profitability recovery is lower than expected and the uncertainty of the approval process risks. The development of the future is worth looking forward to a few days ago, two companies issued a new reorganization plan, compared with the plan of February 24, the reorganization scope has been adjusted, the proposed injection of assets in the Yinshan steel and Laigang mechanism company, and Jigang group no longer to the listed companies to inject 3 billion yuan in cash. According to the reorganization plan, the estimated value of the proposed assets is $3.8 billion, of which the estimated value of the assets of the Jigang group is 1.3 billion yuan, the value added rate is 14.77%, and the valuation of the assets of the Laiwu Steel group is 2.5 billion yuan, and the value added rate is 21.42%. The issue price of the issued shares purchase assets is 3.95 yuan/share.　　The amount of the proposed shares is 960 million shares, based on the estimated value of the assets to be purchased and the price to be issued. Xiang Treasury Securities Research report that, after the completion of the integration, the company's capacity will now be greatly increased, crude steel production capacity will reach more than 16 million tons, ranked the forefront of the country. In addition to iron and steel main business, the company's surrounding assets are also integrated.　　According to Shandong Iron and Steel Development plan, the local government plans to take the iron and steel industry structure adjustment and the construction large-scale Linhai steel base construction project as the opportunity, insists to take the capital as the link, takes the advantageous enterprise as the leading, speeds up the promotion Jigang, the Laiwu steel and so on large-scale steel enterprise reorganization, the establishment Shandong Iron and Steel Group Limited Company, Xiang Finance Securities Research Report, Jinan Steel, Laiwu Steel set up for Shandong Iron and Steel Group Co., Ltd. is the first step, and the second step, is by Shandong Iron and Steel Group Co., Ltd. through the form of joint-stock restructuring Rizhao Steel Company. Actively use the market means, through mergers, reorganization, union and other means, gradually put small and medium-sized iron and steel enterprises into the development of large steel groups, improve industrial agglomeration.　　At present, the first step has come to an end, with the Government to promote the consolidation of this year, follow-up planning is expected to accelerate. It's going to take a while to improve performance. The paper believes that the asset reorganization will play an active role in strengthening regional pricing, optimizing resource allocation and reducing related transactions. First of all, the company's product structure will be improved by the original single plate products of absolute dominance, adjusted to long, plate proportional balance.　　However, in view of the main products H-beam and the price of the plate has a strong relationship, follow-up profitability still need to wait.　　And through the acquisition of industrial chain-related enterprises, the company and the group of coking, gas and other related transaction costs are expected to be greatly reduced; strong competition into a strong alliance, resource sharing and optimization configuration through the reorganization to achieve, will reduce in procurement, production, sales and other links and research and development, management and other key aspects of the cost. However, Xiang-finance securities also suggested that, although the restructuring of the company's positive impact, but the company's products are low profitability, the future performanceThe improvement will take a long time.　　And from the two-tier market, the steel plate during the suspension of the stock price changes, the two companies reasonable valuation level, a large drop in the space is not big. This newspaper senior commentator Wang according to the situation told reporters that the December 14 after the card, two stocks have a heavy drop, but the shares of Laiwu Iron and steel return still have institutional seats in the buy. Then in the market oscillation in the cities, two shares also follow the adjustment, but the turnover rapidly shrinking, the current technical indicators are already in a serious super buy state. Jinan iron and steel in the last week 5 trading days to collect 3 small yang, and Laiwu Iron and steel shares in the Friday index sharp fall, has been a contraction of the oscillating horizontal plate, to flat plate, showing a small drop, and there are obvious signs of protection.　　As a result of two strands from the year line of good off rate are larger, the future trend will depend on turnover changes, there is no surprise rebound. The Jinan iron and steel complex has fallen 6.81% to the last Friday, closed at 3.83 yuan, and the shares of Laiwu Steel fell 9.91% in Friday.