Red successful backdoor listing of high valuations or related to sapphire

Red successful backdoor Southwest Pharmaceutical, lurking Yongjin also shared this capital feast. After more than four months after the suspension, Southwest Pharmaceutical on August 11th issued a restructuring plan red Harbin optoelectronic technology Limited by Share Ltd backdoor listing. With red sapphire business, Southwest Pharmaceutical after the resumption of seven consecutive trading board harvest. The transaction plan shows that red has 35 individual shareholders and 12 institutional investors shareholders, among them, Shanghai Xianghe, Shanghai Wang into two agencies are Yongjin group company, each holding 9.02%, 16.07% stake in red. If the initial invested 26 million 520 thousand yuan and 14 million 890 thousand yuan, and Yongjin equity value totaling 1 billion yuan to CF, investment income nearly doubled 25 times.

Southwest Pharmaceutical seven even board price doubled

Southwest Pharmaceutical (600666) yesterday morning again there is no suspense in the "a" word plate limit, since August 12th, the stock has 7 consecutive trading days. As of yesterday, the Southwest Pharmaceutical limit reported 14.23 yuan, or 9.97%, the share price has soared since April 24th when the suspension of 94.66%.

After four months of suspension, Southwest Pharmaceutical released Harbin red photoelectric technology Limited by Share Ltd backdoor listing of the restructuring plan in August 11th, to be a major asset replacement through a series of transactions to buy assets, the transfer of shares issued shares, realize the Austria Reed backdoor Southwest Pharmaceutical market.

Disclosure of the restructuring plan, Southwest Pharmaceutical intends to all its assets, liabilities (excluding accumulated undistributed profit) price of 427 million yuan, with red, one of the actual controller of the shares held by the equivalent of the replacement of the shares of. After the replacement is completed, Southwest Pharmaceutical will be 7.42 yuan / share to all shareholders of red issued a total of 498 million shares, and thus get a stake in the company of red, which the overall estimated value of $4 billion 120 million yuan.

Announcements, compared to the benchmark date of April 30, 2014, Reed, the parent company of 596 million yuan of net assets of the book, the value of nearly 80% of the austrian. Insiders said that this is equivalent to 2013 times the price earnings ratio of more than 50 times, the net assets of a premium of up to 6 times, whether a reasonable valuation must be a question mark.

Such a high valuation, or with red production sapphire market prospects are good. Sapphire products are considered to be the first choice for the next generation of mobile phone screen. It is reported that the Southwest Pharmaceutical to another 7.42 yuan / share price for the fund-raising of $1 billion 30 million, raising the amount does not exceed the total amount of the transaction of 25% for the relevant sapphire project. After the completion of the restructuring, Southwest Pharmaceutical will be transformed into sapphire crystal material suppliers.

Yongjin stock market value of over 25 times

Red successful backdoor listing, so that the potential of which institutions benefit. The transaction plan shows that red has 35 individual shareholders and 12 institutional investors shareholders, among them, Shanghai Xianghe, Shanghai Wang into two agencies are Yongjin group company, each holding 9.02%, 16.07% stake in red. The value of its own were 370 million, 660 million yuan, a total of 1 billion 30 million yuan.

When the concept of sapphire popular, red prices have gone up. According to Tai Chi pharmaceutical announcement, April 30, 2014, red 100% stake in the estimated value of 4 billion 120 million yuan, the parent company of the book value of the net assets of 596 million yuan, the estimated value of up to 3 billion 520 million yuan, the estimated value was 590.84%.

Behind the high premium is a capital feast red 33 shareholders and 12 institutions. If the successful completion of the issue, the two companies in the latent Yongjin red in Shanghai Wang and Shanghai shineyhope hold 16.07% and 9.02% of the equity value of a total of up to 1 billion yuan. If the initial invested 26 million 520 thousand yuan and 14 million 890 thousand yuan each CF, nearly doubled 25 times.

Sapphire concept popular from market rumors. It is reported that red sapphire products are considered to be the first choice for the next generation of mobile phone screen material, good market prospects. The news that a new generation of the iPhone collection will be launched in the next month, but whether Apple sapphire products are unable to agree on which is right. Analysts said the state of the union, has not yet seen any apple on sapphire glass supply chain orders, so this indicates that Apple may still be used on the iPhone6 Corelle gorilla glass panel.

As a new thing, sapphire market outlook is full of uncertainty. 2012, red operating income grew 89.14%, but net profit fell by $17 million 501 thousand and 900 to $57.22%. Red said that this was due to a sharp decline in product prices. Due to the LED substrate industry sapphire crystal material demand growth is not expected, the growth rate of demand is less than the growth rate of sapphire supply, resulting in sapphire market prices continued to decline in 2012.

Although the sapphire price volatility is large, but the industry still has a higher expectations of this new product. Qilu Securities analyst Zhang Jun said that after a series of expansion in 2014, the scale of production has reached 2 million 500 thousand mm / month, by the end of the year will reach 5 million 500 thousand mm / month in the month of. In addition, in August 1, 2014, red in Heilongjiang Qitaihe plans a total investment of 1 billion 560 million yuan of sapphire window material for construction projects, two projects into 950 sapphire furnace, after the completion of production capacity reached 9 million 500 thousand mm / month.

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