Zhejiang Mountain was direct investment sponsorship CITIC Securities 13 times times inflation

"Direct Investment + sponsor" is the usual play code, but this kind of sponsoring way has been questioned by the industry. A few days ago, a company ready to sprint gem-Zhejiang Mountain Compressor Co., Ltd. (hereinafter referred to as "Zhejiang Mountain") attracted the attention of reporters. According to the prospectus, Zhejiang's third largest shareholder is a wholly-owned subsidiary of CITIC Securities, and Citic Securities is the sponsor of the mountains in Zhejiang. Obviously, this is the "finished product" of direct investment + sponsor. But the odd is that Citic Securities its subsidiaries of the time is very coincidental, from Zhejiang Mountain planning to go public only a year time.　　According to a rough calculation, if the Zhejiang Mountains this time smoothly, Citic Securities will be at least 13 times times the project investment income. Gray income more than 13 times times last weekend, Zhejiang Mountain issued a prospectus. The company intends to issue 36 million shares, issued after the total share capital 143 million shares. The company is mainly engaged in the development, production and sales of compressors, products to screw-type air compressors, piston-type air compressors as a supplement, mainly for industrial enterprises to provide air power.　　It is reported that Zhejiang Mountain will be on March 29 to accept the audit committee. Zhejiang Mountain has aroused public opinion, because of its CITIC Securities "direct Investment + sponsorship" of the project. The report shows that the company's third largest shareholder is a wholly owned subsidiary of CITIC Securities, and Citic Securities is the sponsor of the mountain in Zhejiang.　　Zhejiang Mountain This impact gem, is a CITIC securities processing another "finished product." Zhejiang Mountain's IPO report shows that the company's top three shareholders are the mountains Holding Group Co., Ltd. (hereinafter referred to as "mountain holding"), Cao Kejian and Stone Investment Co., Ltd. (hereinafter referred to as "stone investment"). Among them, Cao Kejian through holding 81.44% stake in the mountain, directly holding a 8.69% stake in Zhejiang Mountain, equivalent to 89.3 million shares, Cao Kejian for the actual control of the company.　　And the third largest shareholder of the stone investment in Zhejiang Mountain 5 million shares, accounting for the first 4.67% of the shares. In fact, the investment company's story is not small.　　It is reported that Jinshi investment for CITIC Securities wholly-owned subsidiary, as of the date of signing the prospectus, its registered capital of 3 billion yuan, the main business for industrial investment, the actual control of China Citic Group. The information shows that Jinshi Investment Co., Ltd. is a professional direct investment agency of CITIC Securities.　　CITIC Securities, approved as a direct equity investment business by the CSRC, established a gold stone investment in October 2007 and put it as a strategic focus.　　Reporters looked at Citic Securities last year, the 2007 investment in the gold of the registered capital of only 831 million yuan, to the middle of last year, Citic Securities will be in the chips in the direct investment business, and to 2.2 billion yuan invested heavily in stone. And this gold stone investment phase of Zhejiang Mountain. "Jinshi Investment for professional PE investment institutions, mainly invested in the growth and independent innovation ability of the leading enterprises in the industry." The increase in the stock price of 8 yuan/share, the company's 2008 annual audit of the net assets based on the two sides according to the company surplusThe situation and future development are expected to be settled amicably.　　Zhejiang Mountains in the declaration of the draft said so. In addition, Jinshi investment in the time is also very "punctual." December 9, 2009, Zhejiang Mountain and Stone Investment signed the "investment agreement", the agreement stone investment in the currency of 40 million yuan, subscribe to 5 million shares.　　And a year later, Zhejiang Mountain was planning to go public. The reporter helped stone the investment calculate a sum. According to Zhejiang's 2010 1.90 yuan per share earnings, and SSE this February, the machinery and equipment industry 55.65 times times the average price-earnings ratio (simple mean) to calculate, a rough estimate, Zhejiang Mountain stock can be around 106 yuan. Compared with only 8 yuan/share of the equity price, Jinshi investment in this project has won more than 13 times times the income.