Xinhai billion purchase of long johns real estate government subsidies accounted for 62% net profit

In Listing 8, Suzhou new SeaUnion Polytron Technologies Inc (hereinafter referred to as "Xinhai") has never been questioned so fierce.

In August 12th, the "Securities Daily" reported the alleged transactions for ten years, Xinhai was forced to suspend. In August 14th, Xinhai publicly denied allegedly related transactions, points out that "the company does not exist should be disclosed without the disclosure of related party and related party transactions and other information".

But the outside world has not been questioned. August 15th, August 18th, August 25th, Xinhai suffered continuous suspension.

In August 28th, Xinhai again big action. On the same day, Xinhai issued to buy Suzhou qianning estate bulletin series and issued employee stock ownership plan draft.

According to the announcement, xinhaiyi spend over 100 million yuan to buy a Suzhou East Gate Office, the get property price per square meter is about 25 thousand yuan. The office of the east gate of the price in the professional website shows 30 thousand yuan per square meter -6.

Early in February 15th this year, Xinhai announcement shows that its subsidiary company and the east gate of Suzhou qianning home developers Co. Ltd. (hereinafter referred to as "Suzhou qianning) signed contracts for the supply of nearly 30 million yuan, xinhaiyi was questioned and therefore enjoy a generous discount.

In September 4th, Xinhai secretaries Xu Lei said in response to reporters, the purchase of the east gate is to meet the company's corporate headquarters office space needs, and for the purchase of a large number of symbolic, slightly discount, but the price is the market price. At the same time, he stressed that the company has no relationship with the dry Ning home, to sell its goods and to buy office space is normal to sell and buy, does not involve related party transactions, to spend money on the purchase and other matters not related.

In September 2nd, the east gate of the sales staff also told reporters that the purchase of new SeaUnion floor area is relatively large, with a slight discount sale, not unexpected. Office in the general price of 30 thousand yuan. The above said.

Reporter access to the east gate of the surrounding land office, Xinhai shopping industry price higher than the surrounding the price of around 1/3.

According Xinhai report shows that the first half of the year attributable to shareholders of listed companies net profit of 56 million 700 thousand yuan, excluding government subsidies of 35 million 180 thousand yuan, the first half profit of only about 20000000 yuan.

This calculation, xinhaiyi spend 101 million 570 thousand yuan to buy the office cost the equivalent of nearly two times the profit in the first half of this year.

Spend billions of dollars to buy office

In September 2nd, the breeze blowing, Suzhou west of Jinji Lake District, the big east gate high into the clouds. This is known locally as "long johns landmark door" are currently installing glass curtain wall.

In August 26th, xinhaiyi by resolution of the board of directors, with 101 million 570 thousand yuan to buy Suzhou qianning East Gate building, No. 1-2 building room 2-2801, public security and public security number 1-2 building 2-2901 of commercial housing, a total construction area of 4062.67 square meters, the announcement shows that the real estate standards to 25 thousand yuan per square meter. The Suzhou Xinhai desirability qianning signed a letter of intent for.

Xinhai has claimed that the purchase of real estate to improve work environment and enhance the external image, and regulate the operations of the company, not risk investment.

Reporters learned that the east gate is located in the western part of Jinji Lake, Suzhou Industrial Park is currently the core of the CBD lot.

2004, Suzhou Gan Ning won the project price equivalent to 11 million 40 thousand yuan / mu, the total price of about $400 million, a record at the time of the Suzhou industrial park land transfer price record.

Public information, the office of the east gate price between 30 thousand yuan to 60 thousand yuan, the residential price range of $30 thousand to $50 thousand.

In September 2nd, the sales staff of the east gate to reporters about 53 layers of 96 square meters of the large-sized apartment office, the price is also more than 30 thousand yuan, while the 28 layer, 29 layer because the floor area of over 2000 square meters, with the sale of.

Relative to the surrounding office, the east gate prices significantly higher. Reporter access to the two at the same location of real estate information office, a new average price of 16 thousand yuan, the exchange building, another is the Phoenix Culture Square, in the west of Jinji Lake CBD office area, priced at 20 thousand yuan.

It is worth noting that in February this year, Xinhai subsidiary Suzhou new nanojoin photonics Co. Ltd., a wholly owned subsidiary of Suzhou Xinhai Image Technology Co Ltd and Suzhou qianning signed a contract amount not less than 25 million yuan of the "Suzhou East Gate project lighting supply contract" and the contract amount of 4 million 800 thousand yuan of "Suzhou Oriental the door of the intelligent engineering procurement contract".

That is to say, the first is Xinhai become Suzhou qianning suppliers, 6 months after the Xinhai become Suzhou qianning buyers and customers get a preferential price 25 thousand yuan per square meter, the objective existence of the "mutual benefit" behavior, whether it is just a coincidence, so that the outside world of suspicion. However, xinhaiyi certificate on behalf of Miss Lee told reporters categorically denied that the correlation between the two.

Denied alleged related party transactions

In fact, since August 12th, by the "Securities Daily" exposed alleged transactions since Xinhai in the past August, has been the face of doubts.

Outside the focus of related transactions between the China Science and technology and Xinhai perplexing and more than 10 years, China Science and technology was accused of having occupied the interests of the listed company.

This xinhaiyi from generation pad funds, land transfer, product procurement and other point of view, to clarify the announcement one by one