On November 1st, Modern Avenue's share price tumbled 43.48% during the year, and the actual controllers reduced their holdings by nearly 200 million yuan. The actual controllers and concerted action people reduced their holdings to a relatively high level of nearly 400 million yuan. The shares held by the controllers and concerted parties have been pledged nearly 74%, but the operating results have been falling all the way. The net profit in the third quarter is “waist”, and the company’s frequent asset restructuring during the year is not the case.
The actual controller and the concerted action people reduced their holdings of 398 million Lin Yongfei to nearly 200 million
The company's actual controller Lin Yongfei and his concerted actions, Weng Wuqiang and Yan Yanxiang, have repeatedly reduced their holdings. In the past year, the amount of reduction has reached 398 million yuan. Among them, the company's real controller Lin Yongfei totaled January 24-25 this year. The reduction of holdings was 197 million yuan, and the average transaction price was 22.14 yuan and 22.19 yuan respectively. It was a step closer to the highest level of 25.19 yuan in the past two and a half years. After a week, the company stopped trading on February 2 this year, and fell into four consecutive downs after the resumption of trading on April 27.
Three suspensions during the year: What is the continuous restructuring of net profit?
This year, the company has experienced three suspensions:
The first time: February 2nd - April 27th suspension of the two months, involving asset restructuring, the target party is Harbin Maiyuan E-commerce Co., Ltd. (industry: Internet and related services) and another Internet and related service industry companies Controlling power. Eventually ended in failure of restructuring
The second time: June 15th - October 19th suspension of the month, October 19th when the resumption of trading, the limit. The same is related to asset restructuring, the result is that the restructuring failed, and the planned acquisition of the exclusive shareholding control rights was terminated.
The announcement of Modern Avenue on October 25th revealed that the asset reorganization was terminated by the Shenzhen Stock Exchange. The company explained the reason for the termination. As the subject of the transaction involves domestic and overseas, and the assets of the counterparty are integrated, the assets are expected. The integration and ownership structure adjustments take a long time, and in order to avoid the termination decision on the impact of business cooperation between the two parties.
The third time: the trading was suspended after the close on October 19. On the third day after the announcement of the termination of the acquisition of the exclusive shareholding control, Modern Avenue disclosed an asset restructuring plan. The company intends to sell 100% equity of Yueran Xindong and related assets and liabilities of the headquarters building to Ruifeng Group. The transaction consideration is approximately 2.24 billion yuan. The Ruifeng Group is the controlling shareholder of Modern Avenue.
The third reorganization is more puzzling, and the key points are explained here. The restructuring plan shows that according to the income method, the estimated value of the 100% equity of Yueran Heart is about 720 million yuan, and as of June 30, the company's net assets are 152 million yuan, the value-added rate is 3.74 times; The estimated assets and liabilities are about 1.52 billion yuan, while the assets and liabilities of the building at the end of June totaled 749 million yuan, with a value-added rate of 1.03 times.
Some insiders said that after the completion of the transaction, it will add a lot to the financial report of Modern Avenue in 2018. It should be noted that the net profit of Modern Avenue in the third quarter is “waist”. According to the announcement of the third quarterly report, the company's operating income in the first three quarters was 1.047 billion yuan, an increase of 59.93% over the same period of last year. The net profit attributable to shareholders of listed companies was 58.36 million yuan, a year-on-year decrease of 51.12%.
Yueran Heartbeat is a modern road that was purchased last year and contributed a lot of performance. The planned modern street headquarters building was sold less than a year ago. At the time, Modern Avenue also declared that “the landmark office environment marks the group’s new dream. Set sail." Modern Avenue spent 490 million yuan last year to immerse its enthusiasm in the pocket, and it will be included in the consolidated statement from May 1 of the same year. In 2017, Yueran Real Estate realized a net profit of 52.10 million yuan, exceeding the promised performance of 45.5 million yuan; the profit for the first half of this year was 249.779 billion yuan. In addition, Modern Avenue also mentioned in the newly released third quarterly report that the market share of Yueran heartbeat has expanded and its performance contribution has increased compared with the same period of last year. At the investor briefing on October 19th, Modern Avenue also said that the company will continue to grow steadily and become an important profit growth point for the company.
The company’s actual controllers and the concerted actions of the people’s pledges are not low.
On May 25th, the real controller of Modern Avenue once held a 4.22% of its shares. The relevant announcement shows that its purpose is to supplement the guarantee for Weng Wuyou, a concerted person.
As of October 31, the real controller Lin Yongfei held 66.289 million shares of the company (of which 60.48 million shares were held by the executives), accounting for 9.32% of the company's total share capital; of which 34.8 million shares were in the pledge state. It accounted for 52.42% of the shares held by Lin Yongfei and 4.88% of the total share capital of the company.
The company's actual controller Lin Yongfei and his concerted actions Weng Wuqiang, Weng Wuyou, Yan Yanxiang and Guangzhou Ruifeng Group Co., Ltd. held a total of 306 million shares, accounting for 43.07% of the company's total share capital. The total number of shares held by the above-mentioned personnel and enterprises is 226 million shares, accounting for 31.74% of the company's total share capital, accounting for 73.69% of the total shares held by the company.