Reorganization announcement Squeeze toothpaste Silver pigeon investment play "double act"

Recently released assets reorganization intention announcement of the Silver Pigeon investment (600069. SH) and the makers of a "double".　　From the company before the transfer of stock rights to clarify the announcement, and then to "shake the baggage", to the main behind-the-scenes funds through the company bulletin three steps to complete the rapid collection of chips to pull up the layout. In the secondary market, January 11, 12th, Silver Pigeon investment in the announcement after a succession of two consecutive "one" word trading. January 13 Small correction, January 14 Silver pigeon investment again sealed in trading.　　January 17, with the company to clarify the "future March no reorganization plan" announcement, Silver Pigeon investment to the lowest price of 7.2 yuan/share, jump open 8.51% low opening, the end of 5.72% down. January 18, with the details of asset restructuring further disclosed, the Silver Pigeon investment in the early trading price soared to trading.　　From January 11 to 18th, a short period of six trading days, the company's share price from the suspension before the 5.94 yuan jumped to 8.16 yuan, Rose 37.37%. Earlier, the restructuring of the Silver Pigeon investment price of nearly a year of reorganization news officially failed. August 12, 2009, Silver Pigeon Group plans to China Guangcai International Investment Group Co., Ltd. (GUANGCAI Group) to transfer the holding of Silver Pigeon Investment Stakes, also signed a related agreement.　　However, on August 10, 2010, less than 5 days before the promised expiry date, the two sides ' restructuring scandal ended in failure.　　But on January 10, 2011, the company released the actual controller plans to change the information, at this time, only 4 months after the failure of the reorganization, the previous announcement of the "three months no longer planning major matters" agreement only the past one months. "Double" drama brokers analysts pointed out that the Silver Pigeon investment announcement process can be said with the main funds to meet the pace of the seamless. January 10, Silver Pigeon investment first released a smokescreen for asset restructuring.　　The announcement claimed that the Leihe people's government and the Henan Coal Group negotiated the intention, the Leihe Finance Bureau held the company holding shareholder Silver Pigeon Group 100% Equity transfer to Henan Coal Group.　　After the completion of the transfer, Henan Coal Group will become the sole shareholder of Silver Pigeon Group, a total of indirect holding silver pigeon investment 208.7 million shares, accounting for the company's total equity of 25.28%, thus becoming the actual control of silver pigeon investment. News, three trading, the company 15th issued a clarification notice said.　　In the foreseeable future three months, in addition to the Leihe government to Henan Coal Group to transfer to the Luohe Silver Pigeon Group 100% Equity, the company does not exist equity transfer, debt restructuring, business restructuring, asset stripping or asset injection and other major issues.　　However, clarification of the announcement of the voice just fell, the Silver Dove investment immediately followed by the announcement of the transfer of stock rights of the indicative announcement. The company announced 17th that Henan Coal Group in the Transfer Agreement commitment: "Twelve-Five" period, through the company or holding company within five years of investment in Leihe not less than 5 billion yuan, of which the first 1 billion yuan as capital injection into the Silver Pigeon group to strengthen its strength;Other parts of the business outside the company's equity into the Silver Pigeon group, including but not limited to Henan Wing Yin Chemical Industry Co., Ltd. (Wing Yin Chemical) 60% equity; "Twelve-Five" period, and strive to Silver Pigeon Group or silver pigeon investment hit the assets and sales are more than tens of billions of enterprises; when the time is　　will be injected into the silver pigeon investment in addition to the coal business of the proposed listing assets. At the same time, the company to squeeze the toothpaste-type reorganization bulletin behind, is the main capital of decisive positions. Shanghai billboard shows that from January 12 to 14th, there are three major institutional seats in silver pigeon investment in the main purchase list, respectively, buy 55.3244 million yuan, 36.7883 million yuan and 28.7049 million yuan.　　In addition, the Galaxy Securities Beijing Security Department and the West China Securities Suining State Road Securities sales department also bought 54.9904 million yuan and 23.474 million yuan respectively. Silver Pigeon Investment restructuring staged "double play" drama is not the first time.　　In the previous and Guangcai group's reorganization scandal, the big shareholder Silver Pigeon Group took the opportunity altogether to reduce the silver pigeon investment 15.8332 million shares, at least is 140 million yuan; and the reorganization of the top ten shareholders did not have a fund company, but after the reorganization of news, several funds boldly killed.　　The reorganization of "Gao" before the securities analysts said that the announcement content, compared to the former restructuring party, Silver Pigeon investment undoubtedly to investors to draw an attractive "pie."　　Data show that Henan Coal Group is the largest industrial enterprises in Henan Province, in 2009, Henan Coal Group operating income of 104.1 billion yuan, total assets of 110.9 billion yuan, to achieve 10.7 billion yuan. However, according to the Henan provincial government's work plan, currently, Henan Coal Group's coal assets Yong Coal Group IPO issues are being approved. Securities analysts said that, in terms of asset size, Henan Coal Group's huge asset size backdoor silver pigeon investment is more difficult.　　Therefore, the reorganization party in the short term change Silver pigeon investment main business possibility is not big.　　According to the transfer agreement, Henan Coal will be expected to inject the listed companies in addition to the coal business outside the listed assets, and this part of the non-coal assets is likely to include the chemical assets such as wing-Yin chemical. This reporter investigation found that Yong-Yin chemical Department of Henan Coal Group and Silver Pigeon investment joint equity companies. As early as August 8, 2007, Silver Pigeon Investment on the release of the announcement, the company and Yong-Coal group jointly on its Wuyang Silver Pigeon Double Power Industrial Co., Ltd. to increase the share, coal group holding 60%, and the joint venture company renamed Wing Silver Chemical Industry, as of now, the permanent silver chemical registered capital of 200 million yuan,　　Silver Pigeon Investment capital of 80 million yuan holding 40% of the equity. However, the Silver Pigeon investment, wing-yin chemical industry is not a good asset.　　The data show that the total net profit of the 2007-2009-year industry is only 2.0544 million yuan, the conversion of investment income is only 0.34%, still less than the interest rate of demand deposit, for the listed companies almost no income contribution. It is well known that the profitability of the main business of silver pigeons is low. 2007 Net profit of 1$7 billion, which fell to $32.75 million and $48.81 million in 2008 and 2009 respectively. Only 30.2817 million yuan was realized in the three quarter of 2010 years ago.