The star of the new venture board silver shares in advance latent one year

Wang Qiong today, Guangdong Xinghe Biological Technology (hereinafter referred to as "The Star of Life") will be washed off the gem, the proposed release of not more than 17 million shares.　　If the success of today, with the holding subsidiaries of the Galaxy's shares of the Royal Bank (002177.SZ) will also benefit. April 2009, the new shareholder of the star-owned company, Guangzhou Royal Software Co., Ltd., that is, Royal Bank shares of the wholly funded subsidiary.　　At that time, Guangzhou Royal new 15 million yuan subscription for the company's 5 million shares, the average cost of about 3 yuan/share; The Royal Bank shares director and general manager Wu Ning concurrently concurrently serves as the managing director of the Galaxy. Last year, a bulletin of the Royal Bank shares described the purpose of its investment: "In view of the edible fungus industry's production environment controllable, the operating risk is lower, the star species in the industry leading position as well as the good business prospect and so on factor, this investment is advantageous in the development company new profit growth point. "Drunken Weng may not be in wine."　　A year later, the Galaxy Bio-Enterprise Board.　　At present, the gem of the average issue of 60~80 multiples, if the 2009-year performance of 60 times times earnings ratio estimates, if the star of the success of the gem on the board, the issue of its total market value or will reach 1.221 billion yuan. As a wholly owned subsidiary of the Royal Bank, Guangzhou Royal new possession of 5 million shares of the Galaxy, accounting for 10% of the total equity (if issued, diluted to 7.46%). At that time, the value of indirect shareholding will be raised to 91.08 million yuan, which is more than 5 times times higher than the initial investment cost of 15 million yuan.　　An analyst who pays close attention to the Royal Bank shares, said: If the star of the successful listing, the Royal Bank shares will be held indirectly shares of the company's net assets per share, but as a result of less shareholding will not directly affect the overall operation of the company. Galaxy Bio-book shows that the main business of the star is the development, production and marketing of fresh edible fungi. In 2007-2009 years, the company realized the operating income of 60.5072 million yuan, 73.8906 million yuan and 95.7711 million yuan respectively, the net profit that belongs to the issuer shareholder is 9.9395 million yuan, 11.4634 million yuan and 20.3502 million yuan respectively.