Oriental tantalum Industry 280 million yuan peel off real estate business major shareholder

Beijing Property Exchange recently announced that the eastern Tantalum industry (000962) to transfer its wholly-owned real estate subsidiary of Ningxia Oriental Tantalum Real Estate Development Co., Ltd. 100% Equity, listed transfer price of 279.2199 million yuan.　　Industry insiders pointed out that the eastern tantalum industry stripping real estate business, the main purpose is to remove obstacles to refinancing. Avoid refinancing hindered Oriental tantalum industry main non-ferrous Metal materials production, processing, development and sales. Recently, in order to do strong main business, the company intends to issue a rights issue refinancing no more than 967 million yuan, for investment in 4 new materials projects and repayment of bank loans.　　But its real estate business could run aground on its refinancing plans. "Since last year, the refinancing schemes of listed real estate companies have been under the SFC and none of them has been approved." In order to avoid refinancing, the Oriental tantalum industry is to be stripped of its real estate subsidiaries.　　People familiar with the matter said. 2010, the performance of the eastern tantalum industry increased rapidly. During the reporting period, the company realized the total operating income of 1.637 billion yuan, belonging to the listed company's shareholders net profit of 82.1854 million yuan, the year-on-year growth of 37% and 119% respectively.　　A few days ago, the eastern tantalum industry announced a rights issue plan, to the company's existing total equity 356 million shares as the base, according to no more than 10 shares with 3 shares to all shareholders, the company's controlling shareholder in the color (Ningxia) Oriental Group Co. According to the data, the 4 new materials projects to be funded by the Oriental tantalum industry were: with an annual output of 80 tons of highly integrated circuit target items, niobium and niobium based materials project (10 tons of high purity niobium, 30 tons of chemical anticorrosion niobium alloy tube rods, 30 tons of light source niobium-zirconium alloy Take), an annual output of 3000 tons titanium and titanium alloy projects ( has been in the trial production phase), 60 tons/year niobium oxide (for niobium capacitor) project.　　Oriental Securities Industry analyst Yang Baofeng pointed out that the refinancing marks the beginning of the company into the field of new materials, several new material projects to the postpartum, is expected to increase the annual sales income of 1.24 billion yuan, the annual gross margin of 240 million yuan. Industry insiders believe that, since last year, the real estate industry by the State policy regulation, the financing of housing enterprises generally "jam." and the eastern tantalum industry has real estate business, may become its refinancing obstacles.　　This is the eastern Tantalum industry decided to divest the real estate business is the main reason. The large shareholder intends to take over the Oriental tantalum industry holding shareholder in China (Ningxia) Oriental Group, said that will participate in Ningxia Orient Tantalum Real Estate Development Co., Ltd. 100% stake bid transfer.　　The Oriental tantalum industry also set the "convenience" for the controlling shareholder on the threshold. Oriental tantalum Industry requirements, the intention of the assignee before the real estate development qualification. Other conditions include: shall be a single state-owned or state-controlled enterprise which lasts for more than five years, and the amount of the registered capital of the interested party is not less than 2 billion yuan, the total assets of the most recent audited financial report are more than 7 billion yuan, the net assets amount is more than 3 billion yuan, and good financial and goodwill In addition, the subject of this assignment does not accept joint transferee. From the previous three clause set to see, the eastern tantalum industry seems to have "tailored" the conditions for controlling shareholders. Data show that the eastern Tantalum real estate company 2010 total assets of 233.9064 million yuan, total liabilities of 245.9419 million yuan, operating income of 5.6015 million yuan, net profit-18.5652 million yuan. As of February 24, 2011, Oriental tantalum Real Estate Company's operating income since this year is 41,600 yuan, net profit of 147,300 yuan, book net worth of 211.2321 million yuan.　　After evaluation, Oriental tantalum Real Estate company Total assets of 514.6464 million yuan, net assets of 279.2199 million yuan, evaluation premium of 67.9878 million yuan. Oriental Tantalum Real Estate Company for the Oriental tantalum industry's only real estate enterprises. At the end of January this year, the eastern tantalum industry has just completed a 205.09 mu of land right in the Yinchuan area of Ningxia to increase capital for tantalum real estate companies, involving an amount of 223.4149 million yuan.