Riert Sanitary ware Real Control human risk consistent action person share shareholding

May 12, Xiamen Rui Bathroom Technology Co., Ltd. (hereinafter referred to as "Rui er bathroom") Pre-disclosure prospectus proposed to raise funds 467 million yuan expansion difficult, but the real estate market recently depressed performance let its future capacity digestion worries also gradually increased. In addition, the company's four concerted action to share the share of control risk, also become the company's future development in the process of hidden concerns. Industry insiders said that, in the case of four of the shareholders of natural persons in the same proportion of shares, once in the future of the operation of disagreement, may appear infighting. Upstream housing market downturn as a bathroom accessories product research and development, production and sales for the main business of the listed enterprises, the real estate market depends on no doubt. "The company's product sales and China's real estate market prosperity is closely related." "Rui er bathroom admits." Riert Sanitary ware Prospectus shows that the company's revenue growth in the last three years has been very impressive, from 2011 's 486 million to 680 million in 2013, net profit rose from 76.8037 million to 134 million yuan and nearly doubled. Data show that Riert sanitary ware Although export sales revenue is considerable, but more sales are still from domestic, the company in the last three years the domestic market sales income of 248 million yuan, 315 million yuan and 380 million yuan, accounted for more than 50%. A PE person to the "First financial daily" reporter said that these industries to some extent, are the real estate industry downstream industry, once the real estate industry problems, downstream industries will not be better days. However, the recent real estate enterprise capital chain tight or even broken news has been exposed, let Riert bathroom expansion capacity plan is full of worries. The company also said: "The country may further introduce policies and strengthen the real estate market regulation, real estate investment growth in the short and medium term there is the possibility of a sustained slowdown, which will affect the company's domestic market sales revenue." "Rui Seoul Special bathroom fund-raising plan, the new annual output of 11.2 million sets of sanitary accessories production Base project is its only investment project, the amount of the proposed investment amounted to 327 million yuan, the remaining 140 million yuan is used to replenish liquidity and repayment of bank loans." "The downturn in the housing market is inevitable, and the worst of the real-estate market is probably just beginning," he said. The PE person said, "If the company's domestic sales more dependent on the new home market may face performance pressure." "The actual control person is hidden in spite of a share market there are many no actual control of the listed companies, but the development is not serious, but for Riert sanitary ware, four" concerted action "with the proportional shareholding of the actual control of the formation of its future development is still a great worry. Riert Sanitary ware Prospectus shows that the company's common actual control for the Lo Yuanliang, Zhang Jianbo, Wang Bing and Deng Guangrong four people, and the four held 17% of the company's shares, the total holding ratio of 68%. If the company is successfully listed, its four people hold 12.75% of the shares, the total proportion of 51%. The company explained that the four men had signed the agreement on concerted actionBook, agreed to deal with the business development of the company, and require the shareholders of the General Assembly to consider the approval of the major issues should take concerted action. "This agreement has ensured some degree of actual control of the company, but there are some risks," he said. "In an interview with the first financial daily, executives from a listed company in Shanghai said," The general consensus agreement is only to start from a certain date, but will not indicate when the termination, which means that may be permanent, or may be terminated at any time. "In the view of the executives, the agreement is a rather fragile agreement, especially in the case of four of natural-person shareholders, and once there is a disagreement in future operations, there is a risk that internal executives will struggle at any time." "Such events have been common in the A-share market, and even staged years of struggle, advising investors to pay attention to risk." ”