Scenic mountains and rivers borrow chicken egg rich "hen" was referred to the sale of state-funded

Source: Internet
Author: User
Only 4 days after the transfer and the increase in the price of capital is more than 1 time times the difference.  Yellow rice wine production Enterprises scenic mountains and Rivers Biotechnology Co., Ltd. (hereinafter referred to as "scenic mountains and Rivers") of the prospectus accidentally exposed Gu Yue long longshan (600059) low-cost transfer of equity, this behavior by the market is considered to be suspected of the sale of state-owned assets. Recently, the scenic mountains and Rivers issued an IPO prospectus, the company intends to issue 17 million shares. Landscape 2009 earnings per share of 0.55 yuan, in accordance with the 60 times multiples of the company's shares issued price of 33 yuan/share, while the actual control of the company Yiu Sheng holding 18.56 million shares.  According to this calculation, its individual stock market value amounted to 612 million yuan. The prospectus also revealed that in 2003 the investment of 7 million Yuan and held for 5 years Gu Yue long longshan on February 23, 2008, to 7.246 million yuan for the transfer of the price of natural persons Shong. "Gu Yue long Longshan is 1.04 yuan per share of the price will be held in the hands of the scenic mountains and rivers 21.88% of the transfer of low price, and only 4 days later, there are 5 investors to 2.70 yuan/share price of the scenic mountains and rivers have been increased capital." The result is, on the one hand, Gu Yue long Longshan not only the opportunity to get rich, but also suspected of selling state-owned assets; On the other hand, scenic mountains and rivers borrow chicken eggs to achieve wealth.  Market participants said so. September 2003, the company founder Yiu Sheng and the famous yellow rice wine enterprise Gu Yue long Longshan reached an agreement, jointly funded the establishment of the ancient more towers. October 23, Yiu Sheng, Gu Yue long Longshan and other 4 investors jointly funded the establishment of the ancient towers, registered capital of 32 million yuan.  One of the Gu Yue long Longshan to 7 million yuan cash capital, to obtain 21.88% of the company's shares. But after 5 years of Gu Yue Long Longshan shareholding suddenly announced the transfer of shares.  February 23, 2008, Gu Yue long longshan and natural person Shong signed the "state-owned equity transfer contract", Gu Yue long longshan to 7.246 million yuan price transfer to the natural person Shong. The prospectus said that Gu Yue long Longshan to the ancient Yue Tower of the investment similar preferred shares, the company shares 5 years a total of 1.265 million yuan dividend, plus the transfer of equity price difference to obtain 246,000 yuan, Gu Yue long longshan investment in the ancient towers a total of 1.511 million yuan, the annual return rate of only 4.3%.  But if Gu Yue long longshan at that time will not transfer, 7 million shares of scenic mountains and rivers now value is estimated to 231 million yuan, Gu Yue long Longshan lost 222 million yuan for the transfer of profits.  Aside from the Gu Yue long longshan investment is appropriate, even more strange is that February 27, 2008, the investment, Hunan High Venture investment and other 5 investors to 2.70 yuan/share price of the company to increase capital. Only a difference of 4 days, Gu Yue long longshan transfer scenic mountains and rivers price of 1.04 yuan/share, but 5 investors get the company's equity price of 2.7 yuan/share, according to the prospectus,  Company 2007 per share of net assets of 2.7 yuan, and Gu Yue long Longshan as a state-owned listed enterprises, unexpectedly at less than 40 percent of the price will be in the hands of the transfer of equity. It seems that even the company itself feels thisThe transfer of a pen is unjustifiable.  In the prospectus, the company used a large amount of space to explain the Gu Yue Long Longshan and its senior executives and Shong have no relationship, the sponsor agency also said that "after verification, Gu Yue long Longshan to only the original contribution of 246,000 yuan in 2003, the price of the transfer of ownership is the adjustment of their own development strategy, the reasons for such transfer is true and More absolutely, the company listed the equity, assets, technology, personnel, business, trademark 6 large items to show that the scenery and Gu Yue long Longshan has always been not closely linked, Gu Yue long Longshan investment in the company is purely financial investment, and there is no other help.  But is that true? The prospectus begins by saying that "Yiu Sheng is going to introduce the investment of Gu Yue long Longshan to learn from the advanced management and sales experience of Gu Yue long Longshan". "In fact, the same as wine production enterprises, Gu Yue long longshan really will not give a bit of technical and sales support?" Even if only from the name, the company's product name will be changed from the Yueyanglou Taiwan to the ancient tower is what reason is not obvious? Market participants questioned.

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