Nanjing Gao Ke demolition East repair West who is behind the scenes "plotting"?

Nanjing Hi-Tech is a company which can only be said to be a very strange company.　　Because of this, so different. First of all, Chairman Xu Yimin. Data show that Nanjing High-tech chairman Xu Yimin at the same time also the company's general manager, the Secretary of the Board for more than half a year. Some professionals pointed out that in the listed companies, the relationship between the Chairman and the general manager of the two posts is generally concerned about the two-position one will affect the performance of the company, not to mention the three-person has been more than half a year, which has an impact on the corporate governance structure.　　Still, Xu Yimin is Xu Yimin. Because of blame, Nanjing Gao Ke became the winner of equity investment.　　The investment of Nanjing Bank, Citic Securities, Qixia Construction, science and science and other listed companies have reached the market value of 9 times times the initial investment, outstanding equity investment for Nanjing Gao Ke High returns laid a solid foundation. 2008, Nanjing Hi-Tech Co., Ltd. was awarded the net profit of 192 million yuan to the parent company shareholders, EPS was 0.558 yuan/share, operating profit of 216 million yuan, which main profit of 35 million yuan, investment income 180 million yuan, accounting for the main profit of 83.67%.　　and the main source of investment income is equity investment in Nanjing Bank, Qixia Investment, LG Newport Show, the three contributions of investment income accounted for 69.33% of total investment income. Nanjing Hi-Tech, the first major shareholder for the Nanjing Xingang Development Corporation, holding the proportion of the company's shares of 34.46%, the second largest shareholder for the Nanjing Port Economic Development Corporation, the shareholding ratio of 3.01%, far lower than the largest shareholder. Nanjing Xingang Development Corporation is a 100% holding company of Nanjing state-owned Assets Investment Management Holding (Group) Co., Ltd. of Nanjing Sasac. Nanjing Hi-Tech main business has three: real estate development and sales, pharmaceutical and sales;　　Nanjing High Branch through the establishment of a number of subsidiaries engaged in different business models for business management. Nanjing Xingang Development Corporation is actually a national Nanjing economic and Technological Development zone. In the Development zone site, the division of leadership revealed: Shongjin Nanjing Economic and Technological Development Zone party secretary, chaired the Development Zone party work, in charge of cadres work.　　Prima facie, Nanjing Gao Ke's high-level personnel arrangement, Shongjin cannot not personally ask. According to the introduction, Nanjing Economic and Technological Development Zone (formerly known as Nanjing Xingang Industrial Zone) was established in September 18, 1992, approved by the Jiangsu provincial government for provincial development zone in November 1993. March 15, 2002 approved by the State Council for National Economic and technological Development zone. March 10, 2003, the State Council approved the establishment of the development zone in the national Nanjing Export Processing zone. July 1, 2003, the development zone CMC successfully passed ISO14001 Environmental management system certification. At the beginning of 2009, Nanjing Municipal Party committee and Municipal government Qixia District the resources of the park, and merged the Qixia Economic Development Zone, the Sanjiang Industrial Park, the Longtan Logistics Base and the forest High-tech Industrial Park into the Nanjing Economic and Technological Development zone, which enlarged the development zone to 100 square kilometers, and developed the　　A new starting point for a second venture. Previous Paragraph, about the original Nanjing Land director, now Qixia district secretary Shongjin was also found more than a set of villas rumors have been in the community uproar, God bless, for the moment still wind static wave flat. Anyway。 2009 Annual report shows that Nanjing High Branch to achieve operating income of 2.11 billion yuan, an increase of 38.97%, the realization of net profit of 256 million yuan, the growth of 33.16%, basic earnings per share of 0.743 yuan, weighted average return on net assets of 5.19%, 10 units to 3 shares to send 2 shares and sent 1 yuan. At the end of the reporting period, according to the relevant provisions of the new accounting standards, the company can sell the financial assets premium to the shareholder equity-the amount of the capital accumulation project is 4.632 billion yuan, if deducted from the impact of the premium on the sale of financial assets, its net assets yield of 14.87%. Remarkably, in 2009, Nanjing High Tech investment income reached 263 million yuan, about 102.73% of the net profit of the same period.　　2008, the company achieved investment income of 181 million yuan, about the same period of net profit of 94.27%.　　Although, in the virtual economy, Nanjing High Branch Pride, but in the industry but the shadow of the trouble. May 26, Nanjing High-tech disclosure, December 19, 2007, the company holding subsidiary of Nanjing Xian Lin Real Estate Development Co., Ltd. (now "Nanjing Hi-Tech Property Co., Ltd.", hereinafter referred to as "high Branch Home") and the Nanjing Land and Resources Bureau signed a Ning land-2007]433 Contract for the transfer of state-owned land use Rights (G81 plot, Nanjing, Xian Lin) As the land infrastructure is not in place, by the high-tech home purchase applications, the relevant government departments approved, agreed to the project start time postponed to August 30, 2010. At the end of June 2008, the High branch property has paid all the land transfer 2.595 billion yuan.　　At present, the G81 project is being tested at the stage, the company will start before August 30, 2010.　　At the same time, Nanjing Hi-Tech also pointed out that March 30, 2010, the company holding subsidiary Nanjing High-Tech Real Estate Co., Ltd. through the listing method Nanjing Qixia District University City Millan Road North No.2010g06 Plot, the total price of 1.16 billion yuan. In other words, the G81 project is only just beginning, "Gao Ke real estate" what ability to take out 1.16 billion yuan?　　Can big shareholder "empty Gloves Wolf"?　　Financial data year-on-year: In 2009, Nanjing High-tech management costs soared, especially the so-called advisory services costs, and these advisory fees to those who have been the fog of those things a group.　　In other words, the fog behind the group is still difficult to solve the problem.　　December 8, 2007, Nanjing Hi-Tech holding subsidiary Nanjing Xian Woodland Production company (that is, now the GAO Ke home) announced that the company to 2.595 billion yuan total price of "Wang" Xian Lin No.2007g81 massif, and the project is expected to start in December 2008, three years of development. According to Nanjing Land and Resources Bureau documents, the contract agreed that the assignee shouldConstruction work before December 30, 2008, completed on December 30, 2011, in October 2009, Nanjing Hi-tech application for the land extension.　　Nanjing the Land and Resources Bureau agreed to extend the plot to August 30, 2010. Industry Personage said, the G81 plot nearly 2.6 billion of the land transfer gold (accounting for the company 2008 net assets 71.96%, accounted for 2009 net assets 38.92%, accounting for the company 2009 end of the total assets of 17%) involving a large number of funds, the SFC requires disclosure of major investment projects.　　The Board of directors, as the decision-making body of a company, should make a timely disclosure of the application of the land extension and the consent of the government to the investors after a major change in the material contract of the major investment project. In fact, Nanjing Hi-Tech want to conceal is "delayed start" is not easy, to postpone the need for public relations? Tackling the problems without spilling some silver? A little silver, not a high fee? In other words, things may not be so!　　(Note: The consultation here, the relevant people did not give a very clear explanation) In addition, Nanjing Gao Ke on hand more very tight. According to the company reported annually, as at the end of December 2009, Nanjing High Division has paid 1.038 billion yuan on the G81 land margin. In the 2008 Annual report, the total land price of $2.595 billion has been included in the cost of land development and the remainder has been paid. 2.595 billion yuan, such a sum accounted for 2008 net assets (3.606 billion yuan) 71.96% proportion of the funds from where? View the company's 2008 Annual report of the loan details, short-term loans reached 1.979 billion yuan, the end of the period than the beginning of the increase of 739 million yuan, the growth of 59.6%, long-term loans of 2.04 billion yuan, the end of the period than the beginning of the increase of 1.56 billion yuan, the growth rate of 325%.　　Bank loans amounted to 4.019 billion yuan, accounting for the company's 2008 total liabilities of 55.66%, far exceeding the company 3.606 billion yuan of net assets. So much of the long-term borrowing is due to the increase in commissioned borrowing. 1.8 billion yuan of commissioned loans are mainly G81 plots of the Xian woodland production company borrowed, the holding shareholder, Nanjing Xingang Development Corporation, provided 1.2 billion yuan by entrusting the bank loans, and the new Urban Development Co., Ltd. of Xian Lin provided 600 million yuan by commissioning the relevant bank loans, and the loan period was 3 years, The borrowing interest rate is the bank loan interest rate in the same period, the Fund mainly uses in the Xian Forest Real Estate project development.　　Correspondingly, the company's financial costs from the 2007 's 51.6446 million Yuan surged to 2008 of 164 million yuan, increased by 113 million yuan, the growth rate of 218.21%, only the interest expenditure reached 161 million yuan.　　Thus, Nanjing Gao Ke even play equity investment, the money may not be able to make a huge loss of the big hole to fill. Ministry of Land and Resources 5th order the "Idle Land Disposal Measures" fourth stipulates "in the urban planning area, in order to transfer and other paid use way to obtain land use rights for real estate development of idle land,More than the contract agreed to start the development date of 1 years after the development has not been started, you can levy equivalent to the land use right to transfer the money under 20% of the land idle fees, 2 years without the development of the construction, can be free resumption of land use rights. From the "Idle Land Disposal Method" for the definition of idle land, "idle land refers to the land users in accordance with the law to obtain land use rights, without the original approval of the people's government agreed to, over the specified period of time did not start the development of construction land." "There are three conditions under it." Whether the G81 massif belongs to the area of idle land as stipulated in the disposal method of idle land, now has become unimportant, because Nanjing land and resources Bureau is very difficult to follow the Beijing Land and Resources Bureau, Nanjing Land and Resources Bureau did not have the courage, like the Beijing Land and Resources Bureau take "Big Dragon" that won the Nanjing High Branch, Take it long ago. (Tian Tai Research sub-Rui Chime)