Rhine Real estate major shareholder with room for stock exchange rate low

Rhine Property (000558), which has been suspended for two months, disclosed the plan on September 18, and the controlling shareholder, the Rhine-holding group, plans to increase its share in two property subscriptions.　　However, the public Securities newspaper found from the available data that the controlling shareholder of the Rhine-holding group of the two properties of the current yield is low, one of the property is in a loss. "Restructuring" to "increase" September 18, the Rhine Home purchase plan, the company intends to be no less than 3 yuan/share price, to include the Rhine-holding group, including not more than 10 specific objects, non-public offerings of not more than 340 million shares.　　Among them, the Rhine-holding group will be the Hangzhou Lai Chun Investment Management Co., Ltd. (hereinafter referred to as "Lai Chun Investment") 100% Equity and Jiahe Beijing to participate in the purchase of the Rhine Home purchase unit. According to the plan, Lai Chun Investment 100% Equity and Jiahe Beijing City's pre-valuation of 420 million yuan. As a result, the company is expected to raise more than $600 million in cash.　　The company raised funds will be used to purchase plots, respectively, is Yu Jing hang Out (2013) 7th plots, Yu Jing hung Out (2010) 128th plots, a total of 1.82 billion yuan, of which the company plans to use the fund-raising funds not more than 600 million yuan. It is worth mentioning that the Rhine property in the suspension period (September 7) Notice that the company and the third party actively negotiate asset acquisition, the relevant indicators did not meet the requirements of the reorganization of management standards.　　In view of the situation, the company decided to change the reasons for suspension to the implementation of Non-public offering shares. The low return on stock exchange in particular, Lai Chun investment in the main assets of the Rhine building. And the Rhine building is located in Hangzhou city West L. District No. No. 535 of the Grade A office building, housing covers an area of 2817 square meters, total construction area of 16,900 square meters.　　Financial data show that in 2012, Lai June investment to achieve operating income of 16.2576 million yuan, to achieve net profit is 5.6901 million Yuan, 2013 1 to June, its operating income of 7.5122 million yuan, net profit of 2.8921 million yuan. In addition, due to the lack of operations team, Jiahe Beijing shops in the investment and operation of the poor. At present, the Rhine-holding group book this part of the investment real estate rental rate of about 60.55%, shops monthly rent of about 22 yuan/square meters, in the location of the central Jiaxing is low level.　　2012, Jiahe Beijing shops operating income of 1.2987 million yuan, to achieve net profit-2.7246 million yuan, 2013 years ago June, its operating income of 732,000 yuan, net profit of 1.24 million yuan. "The low yield on these two assets is a challenge to how the company should respond to the decline in equity returns," he said. A market researcher raised concerns yesterday.　　In response to the two real estate business situation, the "Volkswagen Securities" to call the listed companies to understand the situation, but its phone no answer. property to be mortgaged to limit the concern is that, prior to the integration of the interior assets of the Rhine-Holding group, the Rhine group took the 16,900 square metres (all) of the buildings in the Rhine building as collateral to the Pudong FA BankHangzhou Wenhui Branch Loans 285.8 million yuan, the mortgage period of September 24, 2012 to September 24, 2017. The Jiahe Beijing city is no exception. Jiahe Beijing is located in the Jiaxing commercial center, the house covers an area of 7198.1 square meters, total construction area of 15,900 square meters.　　Its assets are also secured by the Rhine-Holding group to the Bank of China, Heng Fung Bank, Merchants Bank. "It is obvious that the risk of being mortgaged is mainly the buyer's risk." Mortgaged property before the transfer, you can do mortgage cancellation, so that the property returned to the state of no rights restrictions. "The advice of a senior lawyer in Beijing." The Rhine group said that before the second board of Directors of the listed company, there would be no defect or restriction of ownership in the property of the Rhineland mansion and Jiahe Beijing city. Reporter Zhang Yi