Meishang ecological 300495 core view the controlling shareholder and actual controller are to be changed to Hunan state-owned assets
.
On February 10, 2021, the company announced major transactions
.
If the transaction is finally implemented, the control right of the listed company will be changed, the controlling shareholder of the company will be changed from Ms
.
Wang Yingyan to Hunan Xiangjiang New Area Development Group Co., Ltd., and the actual controller of the company will be changed from Mr
.
Wang Yingyan and Mr
.
Xu Jing to the state owned assets supervision and Administration Commission of Changsha Municipal People’s government
.
This event does not constitute a related party transaction and does not touch the tender offer
.
Strong alliance is expected to be mutually beneficial and win-win
.
Meishang ecology is a leading enterprise of mine restoration and an excellent service provider of ecological culture and tourism industry in China
.
Hunan Xiangjiang New Area Development Group Co., Ltd
.
has a high degree of industrial relevance and good resource complementarity with the company, which can form a high degree of strategic synergy with the company and enhance its influence
.
This transaction is expected to achieve mutual benefit and win-win results
.
The company announced that the company’s controlling shareholder and actual controller would change
.
On February 10, 2021, the company announced major transactions
.
If the transaction is finally implemented, the control right of the listed company will be changed, the controlling shareholder of the company will be changed from Ms
.
Wang Yingyan to Hunan Xiangjiang New Area Development Group Co., Ltd., and the actual controller of the company will be changed from Mr
.
Wang Yingyan and Mr
.
Xu Jing to the state owned assets supervision and Administration Commission of Changsha Municipal People’s government
.
This event does not constitute a related party transaction and does not touch the tender offer
.
If this transaction is completed, Xiangjiang group holds 25% of the company’s shares and 25% of the company’s voting shares
.
This transaction involves the first share agreement transfer, voting right entrustment and the second share agreement transfer
.
In the first share agreement transfer, Ms
.
Wang Yingyan and Mr
.
Xu Jing transferred 50294229 shares of non tradable shares (7.46% of the company’s total share capital) and 5317796 shares of non tradable shares (0.79% of the company’s total share capital) to Xiangjiang group by way of agreement transfer, and transferred 55612025 shares of non tradable shares (8.25% of the company’s total share capital)
.
The price of the first share transfer agreement shall not be lower than 80% of the closing price of the trading day before the signing date of the share transfer agreement, and it is determined to be 7.41 yuan / share by both parties through negotiation
.
The total price of share transfer is 412085105.25 yuan
.
After the completion of the first share transfer and the effectiveness of the voting power entrustment, Xiangjiang group controls 168569872 shares (accounting for 25.00% of the total share capital) of the company
.
After the completion of the second share transfer, Xiangjiang group held 168569872 shares (accounting for 25% of the total share capital) and 168569872 voting shares (accounting for 25% of the total share capital)
.
Xiangjiang group plans to realize the transformation from a financing platform to an investment enterprise
.
Xiangjiang group adheres to the development idea of “government led, market-oriented operation and professional operation”, and plans to implement the “four plates” of area development, urban operation, financial services and industrial investment, so as to realize the transformation from a financing platform to an investment enterprise
.
The registered capital of Xiangjiang group is 36 billion yuan
.
By the end of 2020, its total assets have exceeded 87 billion yuan
.
Xiangjiang group was rated AAA by CCCI as the highest credit rating in China, and was awarded “BBB” long-term foreign currency issuer default rating and “baa3” issuer rating by Fitch and Moody’s respectively
.
Strong alliance is expected to achieve mutual benefit and win-win results
.
Meishang ecology is a leading enterprise in mine restoration and an excellent service provider in the whole industry of ecological culture and tourism in China
.
Hunan Xiangjiang New Area Development Group Co., Ltd
.
has a high degree of industrial relevance and good resource complementarity with the company, which can form a high degree of strategic synergy with the company and enhance its influence
.
This transaction is expected to achieve mutual benefit and win-win results
.
It is estimated that the EPS of the company from 2020 to 2021 will be 0.18/0.21 yuan / share respectively, and the corresponding dynamic P / E ratio will be 30 / 26 times respectively
.
It is suggested to “recommend” the rating
.
The risk indicates that the equity transfer is less than the expected risk; the recovery of accounts receivable is less than the expected risk
.
More dry cargo the Milky way China Securities Research WeChat China official account
.
