Shanghai Medical first medicine both denied imminent reorganization

It has been reported since last year that Shanghai medicine will absorb the first medicine of the group, but there has been no substantial progress.　　Yesterday, the Shanghai medical and first-medicine securities directors of the Securities Daily denied the news of the imminent reorganization. The relevant companies both denied May 25, the Shanghai Sasac and Shanghai Securities Regulatory Bureau jointly held the Shanghai state-controlled listed companies working conference. The theme of the meeting is the merger and reorganization of information management, one of the main thrust is to promote Shanghai state-controlled listed companies to use capital market mergers and acquisitions to do better.　　Some market participants believe that this may be a positive signal, meaning that the Shanghai pharmaceutical Absorption of the first medicine will be put on the agenda. However, for this view, the first medical secretary Lou Kin to the "securities daily" reporter said: "No, there is advance we will be timely disclosure of information."　　Wang Xilin, a securities representative for Shanghai Medicine, said that the company had not been briefed on the recent meeting of the Shanghai state-controlled listed companies, and there was no speculation about the integration of the first medicine. If the integration will achieve a double win annual report, the first medicine in 2009 to achieve operating income of 1.037 billion yuan, an increase of 7.51%, operating profit of 52.3802 million yuan, the year-on-year increase of 99.5%. An analyst who declined to be named said to the securities daily: "If it is restructured, it will be good for Shanghai medicine." Because the overall profitability of the first medicine may be general, but it's a lot of stores location is very good, the profit of a single shop is actually still available; In March 2009, the pharmaceutical group used the Lei Yun Shang pharmacy platform to implement trusteeship of Pharmacy and Xinyi Pharmacy, and gradually realized operation integration.　　Public data show that as of April 20, 2010, the drug has a brand chain of retail pharmacies a total of 1965, stores network distribution 8 provinces and cities nationwide, in the scale effect on the advantage. And the first medicine has more than 100 retail chain stores, chain stores in the camp has a large comprehensive pharmacy, but also with the characteristics of Chinese Medicine pharmacy. It is reported that the first medicine stores all over the Shanghai 16 counties, the Shanghai First Medicine store annual sales for many years consecutive China's single retail pharmacy top.　　If they are restructured, they will be able to complement each other. A set of Shanghai medicine reorganization last June 18, Shanghai Industrial (Group) Co., Ltd. under the three listed companies on the real medicine, Shanghai Medicine, and the Chinese and western medicine industry at the same time suspension, the market has long awaited the integration of the real medicine business began. According to the reorganization plan, Shanghai medicine will be used as a platform to absorb the merging of real medicine and Chinese and western medicine, the proportion of real medicine and Shanghai Medicine is 1:1.61, and the exchange ratio between Chinese medicine and Shanghai Medicine is 1:0.96.　　At the same time, the sea medicine upward pharmaceutical group issued shares to purchase assets, to the Shanghai real issue of shares to raise funds, and the capital to buy the real holding of medical assets. This major asset restructuring programme was on January 29, 2010Authorized by the SFC.　　March 5, the Shanghai Medical Securities code from "600849" changed to "601607", and on March 9 to duplicate the card.　　After a series of asset integration, the total assets of the new medicine will jump from 8 billion yuan to 22.3 billion yuan, sales will jump from 23 billion yuan to 30 billion yuan, after the group's second largest pharmaceutical group in China. The reorganization, Shanghai pharmaceutical only 4 months after the announcement of the asset restructuring program, after only 5 months to complete the absorption of mergers, asset injection, cash options, two listed companies cancellation, regulatory approval, etc., completed the implementation of the program. Citic Securities in the paper said: "Shanghai Medicine in the reorganization of assets and the process of internal integration, clearly beyond market expectations."　　However, the reorganization of Shanghai Medicine and the first medicine was somehow delayed.　　When will the first medicine be absorbed? As early as January 22, 2009, the integration of the prior to the real medicine will be held by the Lianhua supermarket shares transferred to the Hundred Union group. Data show that from 2005 to 2007, Lianhua Supermarket's investment income, which contributed to real medicine, accounted for 40% to 45% of total net profit.　　The stripping of the non-main assets of real medicine is widely regarded as an important step in the replacement of two large state-owned enterprises. As a listed company affiliated to the group, the first medicine is an important part of the pharmaceutical country in Shanghai. In addition to some scattered county medicine companies, the first medicine is the only one has not yet entered the new medicine of the municipal pharmaceutical state-owned assets. On the other hand, the main business of the Hundred-Union group is a supermarket department store, with little association with medicine;　　All these make the market have enough reason to associate with the asset attribution of the first medicine. On January 12, 2010, Ma Shong, chairman of the group, first responded publicly to the first medical asset consolidation issue. In the signing ceremony with the new medicine, Ma Shong said: "According to the requirements of the reform of state-owned enterprises in Shanghai, the main business of large state-owned enterprises should concentrate on direction." So the first medical asset may be integrated. But at the moment it is difficult for me to give accurate progress or timetable. ”