St Dongsheng to complete 150 million pre-purchase Guo family studying asset games never ended

-Our correspondent Hu Ying June 26 St Dongsheng (600771) issued a notice that the St. Dongsheng and the Sino-Pearl Shares in Beijing signed an asset purchase agreement, to be let include Xinjiang new Reiter National Pharmaceutical Co., Ltd. ("Xinjiang New Reiter") equity, including several medical assets.　　However, the asset has aroused the concern of investors, because St Dongsheng to buy, is the St latent drug reorganization was replaced by assets.　　According to the Bulletin, St. Sheng purchased the value of pharmaceutical assets amounted to 150 million yuan, but as early as August 2007 St Dongsheng has been to the Pearl shares to buy this part of the medical assets of the advance of 150 million yuan. In April this year, St Dongsheng Chairman Guo Jia Co Two degrees were publicly denounced by SSE, which mentioned the 150 million Yuan advance without the board of directors and shareholders ' meeting.　　It is clear that St Dongsheng has to end the "aged" deal by reorganizing 150 million of the pharmaceutical assets of the stake in the Pearl. Why St Dongsheng in 2007 in the generous advance to the Pearl shares of 150 million yuan?　　Where did this money come from? St Tung Shing Dong Sheng Secretary Zheng Yanli for reporters this question did not give a positive answer, just said "at that time also value this part of the asset." "Money first paid to the board two years after the review passed June 24, St Dongsheng and the China Pearl Shares in Beijing signed an asset purchase agreement."　　The announcement said that the Qianjiang pharmaceutical major assets reorganization obtained the CSRC approval date within 30th, the Sino-Pearl shares should be Xinjiang new Reiter 36% Equity and 14% equity custody benefit right, Shaanxi Jisheng Pharmaceutical Co., Ltd. (Jisheng Pharmaceutical) 50% equity custody of the benefits of two assets to the St Dongsheng.　　and St Dongsheng from the Pearl shares to buy the above assets, is in the Pearl shares with real estate assets with the St latent medicine replacement. April 2008, the Sino-Pearl shares and St latent medicine signed a reorganization Agreement company.　　According to the agreement, the Sino-Pearl shares will be the real estate assets with St latent medicine held in Xinjiang new Reiter 36% Equity and 14% of the rights of custody, Jisheng pharmaceutical 50% equity custody and the benefit of Hubei Dongsheng Pharmaceutical Co., Ltd. (Hubei Dongsheng) 98.68% Equity Exchange.　　St Dongsheng this place into the assets, profit status? According to St latent medicine April last year's reorganization plan promulgated, Xinjiang New Reiter 2005, 2006, 2007 year operating income respectively is 1.225 billion yuan, 1.46 billion yuan, 1.795 billion yuan, three year net profit respectively is 39.08 million yuan, 47.6 million yuan, 94.38 million yuan; Jisheng Pharmaceuticals,　　St latent medicine says, because the company holds the Jisheng pharmacy 50% trusteeship Benefit Right did not form to the Jisheng pharmacy the material control, therefore did not include Jisheng Pharmacy in the consolidated report scope, cannot carry on the audit appraisal separately.　　Just signed the St Dongsheng and the Sino-Pearl shares of the asset purchase agreement was late for a full two years.　As early as in August 2007, St Dongsheng has paid a 150 million yuan in advance to buy some of the above-mentioned medical assets.　Although St. Sheng's 2007 annual report, mentioned "the company intends to invest 150 million yuan to buy the shares from the Qianjiang pharmaceutical replacement of the same medical assets," but, according to the June 26 this year, St.　　In other words, with the St latent medicine has not started restructuring, the Pearl stake in other people's assets to sell.　　And, according to the family studying of the SSE in April this year, the "advance payment" of $150 million has been approved by the Board of Trustees until the end of April this year.　　What is the reason for 150 million yuan in advance for debt-laden capital? And August 2007, it is Dongsheng group will hold the St latent drug 23.79% Equity transfer to the shares of the time of the pearl.　　In other words, in the Pearl stake in the purchase of St latent medicine and paid to the East Sheng Group of 276 million yuan at the same time, St Dongsheng as a subsidiary of Dongsheng Group but also paid to the Sino-Pearl stock 150 million yuan in advance.　　Puzzling, St. Sheng so generous prepaid 150 million of the transfer, and at that time, Dongsheng group of the transfer of the St latent drug ownership is contrary. Dongsheng Group to sell the St latent medicine shares, to trace back to the 2006, Dongsheng technology broke large shareholder of the big shareholders of the news, at that time Dongsheng technology boss Guo Family studying in order to "repay debt", facing the tight situation of capital chain, so will "white plus black" sold to Bayer, but its enterprises are still falling into production difficulties,　　For this reason Guo family studying will st latent medicine transfer to the Pearl stake. And, in the St. Dongsheng prepaid 150 million items, its capital chain is also very nervous, according to St Dongsheng 2007 Annual Report, as of December 31, 2007, the company's bank loan balance is 105,024 690,000 yuan, of which the overdue loan balance is 77,195.320,000 Yuan The shareholder's equity is 96,309.470,000 Yuan, the outstanding tax is 15,702 240,000 yuan, the working capital is 93,233.430,000 Yuan, and the current loss amount is 75,339 yuan, of which the estimated liability for external guarantee or loss is 280,000.69,557 yuan　　The amount of the associated party funds is 72 million yuan, of which the balance of the capital occupancy fee of the large shareholder is 55.08 million yuan. And at that time, the audit report showed that St Dongsheng due to the persistent shortage of funds, not according to the expected investment funds, marketing and promotional activities are limited, advertising strategy is difficult to implement, coupled with the rise in raw material prices and other reasons, so as to put the debt into the "wide reputation far"　　All four subsidiaries failed to complete the earnings forecasts identified by the evaluation agency. St Dongsheng in the case of insolvency, still generous 150 million yuan advance payment to the stake in the Pearl, why?　　And, at that time the bank owed more than 1 billion, operating capital is negative, St Dongsheng pay the 150 million yuan from where? The parties are also very secretive about this. The two-year asset reorganization of St.If it can be implemented smoothly, the reporter will follow up the report further.