Sell the shares of China-owned stock for seven years at least earn 2.1 billion

On December 31, 2010, the "one to one control" deadline is approaching, the sale of GF Securities sales of China shares of the work also entered the countdown.　　November 9, Guangdong Securities issued a notice, the company's board of Directors recently considered the adoption of the company's holding China Fortune Securities Co., Ltd. 60.3519% Equity transfer related matters of the motion, to 2.49 billion yuan price in the property exchange listed on the sale of the Guangdong China Fu 60.35% shareholding. Guang-Guang, formerly known as Fujian Huafu Securities Company, was founded in June 1988, is one of the first securities companies established in China. April 2003 to increase the capital restructuring and changed its name to the Guangdong China Fortune Securities Co., Ltd. The company is headquartered in Fuzhou, Fujian province, with a registered capital of 550 million yuan.　　Data show that the GF Securities to the Guangdong-China Fortune's contribution amount is 332 million yuan. So, after the GF exit, who will take ownership of the shares?　　A person familiar with the matter said that Fujian local enterprises Fujian Investment and Development Group Limited liability company (Fujian Investment Group) or will become the new owner of China-Guangdong.　　However, Cai Tiezheng, general manager of GF Securities Board of Directors, said that it is not yet possible to determine the assignee, the fastest-listed results will come out early next month. On the same day, our correspondent called the Fujian Investment Group, the person on the basis of trade secrets to comment.　　However, the Fujian provincial property Rights trading Information Network published a variety of conditions but directed at the Guangdong-China shares of the recipient of non-local state-owned enterprises mo. To delineate the local state-owned enterprises of Guangdong Securities Bulletin said, the reference to the Guangdong Provincial financial Department of Finance in the record of the evaluation of the value of the company's holdings of the investment ratio of the calculation of the results of the transfer of shares of 1 yuan in the equity trading institutions listed price determined to 7.5 yuan, the target equity listing price of 2.49 billion yuan.　　The final transfer price is determined by the property right trading institution according to the trading rules. This reporter noted that, from the Fujian Provincial property Rights trading Information Network published information, in the assignee should have the basic conditions, the first requirement is that the assignee should be the provincial or provincial level or above the state-owned Assets Supervision and management Committee directly funded by the state-owned companies or the whole people's enterprises　　, followed by a good financial situation and capacity to pay, December 31, 2009 audited assets of the total amount of not less than 10 billion yuan, net assets of not less than 4 billion yuan (group company to consolidate the report data). Fujian Investment Group is the April 27, 2009 established a large state-owned company, the investor for the Fujian provincial People's government, by the Fujian Sasac to perform the role of investor. As of December 31, 2008, Fujian Investment group total assets of 22.627 billion yuan, net assets of 13.516 billion yuan, the initial registered capital of 5,958,080,000 yuan.　　Obviously, Fujian Investment Group is in full compliance with the above conditions. As for the third article, it is clear that the licensee is not a local enterprise. Special requirements for the implementation of the State Council to support the construction of the Straits West Bank Economic ZoneViews (national hair [2009]24) spirit, to promote the West Bank economic Zone development, the recipient of more than 60% of assets, business income and operating institutions should be in the West Bank economic zone. In addition, the conditions of the transferee also said that, in addition to the transfer of the nowhere, other qualified shareholders in accordance with the CSRC under the same conditions to enjoy the right of first refusal.　　At the same time, the intention of the transferee shall be subject to the transfer of the target of the company does not advocate the registration of change.　　Up to now, the other four shareholders of Guangdong province, Fujian Investment Group, Zhangzhou Investment Guarantee Center, Fuzhou Investment Management company, Fujian Huaxing Group, holding the proportion of Guangdong-China shares are: 33.71%, 3.59%, 1.35%, 1%. According to Fujian Investment Group website Information, the group, in addition to the main undertaking in Fujian province a large number of infrastructure construction and operation, but also actively involved in banking, trust, securities, insurance, funds, venture capital, security and other financial and financial services in the field of investment management.　　and undertake the investment and financing task of the provincial key industries identified by Fujian provincial government, and establish a large investment group of sustainable development with core competence in industry, financial equity and venture capital through industrial and financial equity investment and operation.　　Up to now, the Fujian Investment group Holding or participating in the financial enterprises also include the holding of Xiamen International Bank, the participation of industrial banks, industrial Securities and Yong-cheng property insurance. As the second largest shareholder of Xingye Securities, Fujian Investment Group (including Huaxing and province guarantee) is currently holding 239.5988 million shares of Xingye Securities, accounting for the total stock ratio of 10.8909%.　　According to Societe Generale November 9 close to 22.81 yuan, the stock market value has reached 5.489 billion yuan. New business binding to eliminate the development of the securities, the company is an important subsidiary of Guangdong, the transfer of the shares will lead to changes in the scope of the company merger.　　After the sale of the company's shares, the transfer of the shares will be a one-time investment income, but without regard to the equity transfer of the price of income, the company combined caliber total assets, net assets, operating income and net profit will be correspondingly reduced. According to the company's audited financial data of December 31, 2009 to calculate the corresponding impact, if the 2009 GDB is not in the company's consolidated statement, the company consolidated total assets reduced by 11.24%, combined net assets reduced by 10.8%, attributable to the owner of the parent company net assets reduced by 6.21%,　　Based on the audited financial data of the company in 2009, the combined operating income was reduced by 11.49%, and the net profit attributable to the owner of the parent company was reduced by 7.58%. "After the transfer of the shares, the company and the Guangdong-China blessing of the competition will be thoroughly resolved, the company will be able to submit new products, new business and new outlets to the CSRC application." In the short term, the company can fully balance the profit effect after the sale of Huafu. In the long run, the value of the company's new business will even exceed the economic benefits brought by the prior sale of the shares.　　Cai Tiezheng told the newspaper reporter.Guotai researcher static that the competition problem and net capital insufficiency of the same-Guang Hua Fu are the two major bottlenecks restricting the development of the company.　　After the two major bottlenecks in the competition and net capital shortage, GF Securities will usher in a new development opportunity. Prior to that, GF Securities has pledged to resolve the competition issues before the SFC will not apply for new business, new products and new outlets.　　Although the financing margin and stock index futures business qualification has not been affected, but the establishment of outlets, collection of financial products have stagnated. "The transfer of the Guangdong-China Equity stake on the company's overall negative impact is limited, but the successful transfer will completely eliminate the shackles of innovative business, the company's innovative ability to completely liberate."　　"Static said. Static said that the company will be able to start a new network after the solution of the competition. In terms of the efficiency of the company's current brokerage business, 2010, the company's share of the market is 0.022% (2010 1-August), the department of the fee net income of 11.06 million yuan, the Ministry of the average share of the industry and Equal, the Department of Net income is also higher than the industry about 3%, but in the share of the top ten brokerages in the bottom, and Citic and investment and other big gap.　　This shows that the efficiency of the company's brokerage business still has a greater room for improvement. Cai Tiezheng said the proceeds from the transfer will help to increase the company's net capital scale, which is conducive to the expansion and development of the business scale such as proprietary securities, margin lending and direct investment.　　To direct investment business as an example, the company has made a number of letters to the German capital increase, and will continue to increase the funding as necessary. Prior to that, GF Securities in December 2008 set up a broad letter to carry out direct investment business, after two additional capital to reach 800 million yuan. In the first half of this year, the first batch of 400 million capital injected into the total investment has been completed, of which in 2009 Huaren Pharmaceutical, Qinglong pipe industry Two projects have been listed, next year can contribute to performance, potential direct investment income of 222 million yuan, the potential rate of return 5.2 times times.