Poor quality of assets to be injected Chongqing Hong Kong nine restructuring prospects unknown

-This reporter Xu Jie "Perseverance", using this idiom to describe Chongqing Port Nine does not seem to be too.　　Because in only 1.5 of the time, Chongqing Port Nine will start its major assets reorganization plan three degrees.　　Yesterday, Chongqing Port Nine issued a notice that because the major shareholder Chongqing Port Logistics Group Co., Ltd. is planning with the company related to the non-public issue of shares, the company's shares on June 22 from the continuous suspension. Because the first two reorganization of the second, the third reorganization of the news let the vast number of investors do not know is happy or worry.　　The third phase of the nine core project in Chongqing has also appeared to be difficult to continue and has had to be passed on to major shareholders.　　Core projects unable to continue?　　According to public information, Chongqing, Kowloon on April 30, 2009, the board of Directors Resolution: one of the main assets of Chongqing's main city Port Cuntan area three project, "handed" to the major shareholder Chongqing Port Logistics Group Limited (Chongqing Port).　　It is reported that Chongqing main city Port Cuntan operating area is Zhongqing main city container hub construction "one base four port" main project, is the construction Yangtze River upstream shipping center important constituent, is Chongqing "two road-Cuntan bonded port" important backing.　　Earlier in May 2008, Chongqing Port Nine from the first major shareholder Chongqing port to take over the project Cuntan, at the same time in the April 8 reorganization of the plan, said that the additional 1.15 billion yuan to raise the majority of funds into the above projects. Chongqing Port Nine announcements show: Cuntan operation area is divided into three phases of construction. The first phase of the project was completed in 2006 at the end of the trial production, investment of 865 million yuan (has been audited). The second phase of the project commenced in September 2007 with an estimated investment of $1.11 billion. The third phase of the project investment estimate of about 2.97 billion yuan (construction in two phases, one stage construction investment estimate of about 2.33 billion yuan), has started construction in December 2008.　　First, the III project is currently owned by the company's holding subsidiary of Chongqing International Container Terminals Limited liability company (referred to as Container Terminal Company) investment and construction.　　Chongqing Port Nine originally planned to raise funds to solve the two-year investment, however, the planned fund-raising projects did not go to the end, because the Chongqing Port nine additional plans have been delayed.　　After a lapse of one year, April 30, 2009, because the container terminal company debt rate is too high, has been unable to continue three projects, Chongqing Port Nine had to transfer it to the first major shareholder Chongqing Port, and the Chongqing port to pay the initial investment of 239 million yuan.　　On April 22, 2009, the large shareholder Chongqing Port also reduce the Chongqing port of nine of the shares, the big shareholders lack of money said also spread.　　is the additional price lower than once?　　For the third restart of restructuring, the issue of additional prices is the focus of investors. According to public information, April 8, 2008, Chongqing Hong Kong Nine first announced the directional additional program, intended to be not more than 12.58 yuan/share of the issue price, directional additional no more than 120 million shares. No more than 10 institutional investors have subscribed to cash for no more than $1.15 billion, while Chongqing portFor the purchase of assets not exceeding 390 million yuan in advance. However, the plan failed to implement, June 23, 2008 Chongqing Port Nine announced a new restructuring plan, canceled the fund-raising program.　　The two reorganization plan only intends to take the assets replacement and the Non-public issue 144 million shares the way, buys the assets to the big shareholder Chongqing Port, the price is 10.24 yuan/shares.　　However, with the nine share price of Chongqing lower, has been low to about 5 yuan per share, Chongqing Hong Kong nine November 8, 2008 notice abandoned the above non-public offering program.　　As of Friday, the closing price of Chongqing port is 8.57 yuan/share. Some professionals on the reporter analysis: "In accordance with the practice, is generally in accordance with the first trading day (20 days) of the average price of additional, the current average price in 8.38 yuan/share, additional prices may be at this price or the price of 90% directional additional.　　The reporter called the Nine Securities office in Chongqing, but no one answered the phone.　　The quality of the proposed asset is poor?　　In Chongqing, nine June 23, 2008 announced the second reorganization of the plan, the company intends to buy large shareholder Chongqing Port, in addition to Chongqing nine of all port operating assets. Include: Cat Tuo Harbor, Jiangbei port, longevity ports of all operating assets, Chongqing Fuling Port Co., Ltd. 100% of the equity, Zhongqing Wanxian Port (Group) Limited liability company (referred to Wanxian port) 100% of the equity, Chongqing Chemical Wharf Co., Ltd. 40% of the equity,　　Chongqing International Container Terminals Limited Liability company 48.75% of the stake, Chongqing Orchard Port Co., Ltd. 51% of the stake and Chongqing Joint Cargo Handling Co., Ltd. 59% of the equity. The quality of these assets is also expressed in the programme, but is not satisfactory. For example, Fuling Hong Kong 2007 net profit loss of 3.6931 million yuan, Wanxian Hong Kong 2007 net profit is only 2.6212 million yuan, the container company is a loss of 10.99 million, the Hong Kong Union Company 2007 is only 4800 yuan total profit.　　Other assets are basically under construction. and Chongqing Port Nine to replace the assets including the company owned by the exercised company 100% of the equity and the company's 50% stake in the sea.　　By the end of 2007, exercised company and the collection of sea companies have more than 1.1 million and 4.04 million respectively of net profit. So is such a reorganization plan fair? Can the third reorganization be changed?　　Because the reporter can not reach nine of the relevant people in Chongqing, the temporary still can not find the answer.　　In the stock bar, investors for the restructuring more is not optimistic, some investors said: Asset restructuring is nothing more than big shareholders lack of money, want to circle money from listed companies. Can the third reorganization be implemented smoothly? We will wait and see.