129773188895312500_1035 PE stake Yee technology spreads 5 times with the shareholders ' funds cut continuously
Sponsor Dongguan Yee Shun Securities Corporation (hereinafter referred to as "Yee-tech"), intended to be landed in the gem. Yee technology is specialized in aluminum alloy, magnesium alloy die casting. Its shareholders should be industrial limited (hereinafter referred to as "Yee industrial") between funds. 2009 Yee industrial arrears amounted to $ 38.69 million, over Yee on net profit in the year of science and technology($ 38.44 million), Yee on Science and technology had to Yee industrial borrow $ 4.64 million. In 2009, Yee on Science and technology as well as the introduction of Xiang River investments, holdings in Hong Kong, five thick water advisory, PE, but the price was different, even a difference of as much as 5 times. Among them, China Merchants securities a wholly-owned subsidiary merchants by far, owns 27.6% shares thick water advisory, indirect stake in Yee on Science and technology. Large shareholdersPossession of funds as a local enterprises in Dongguan, Yee is also a simple process of science and technology-oriented enterprises, upgrading transformation in recent years. Main business is light alloy precision die castings of aluminum alloys, magnesium alloy production and marketing, basic to intermediate products, for high end appliances, 3C products, power tools, and so on. Industrial Holdings shareholders, its equity holding 78.75%, 2010Has not yet been introduced before the venture, 100% holding Yee Yee industrial technology. From 2009 to 2011, Yee technologies achieve a net profit of 38.4351 million Yuan, respectively $ 48.8266 million and $, net profits with an average annual compound rate of 20.13%. Yee on technology of raw material for aluminum, magnesium and zinc alloy ingot, aluminum alloy ingotThe largest share, 28.89% per cent of operating costs. Once volatile raw material prices, profitability will be at risk. Although orders and production
buy swtor, but Yee on purchasing raw materials still need funding of science and technology, by 2009, Yee on Science and technology had actual control of Li Yangde, Yee on industrial and Dewei electrical plant loan, as of December 31, 2009 on the addressThe creditors $ 9.9076 million, HK $ 4.641 million and HK $. Thereafter, Yee Yee industrial technology and large shareholders have still not count it. In 2009, Yee on industry owe Yee on Science and technology between payments of up to $ 38.6917 million, which has exceeded Yee on net profit for the year of science and technology (38.4351 million). Yee technologies is typical of the EastGuan export-oriented enterprises, export to occupy a larger percentage. In 2009, 2010 and 2011, its main business exports ratio as high as 85.68%, and 75.06% respectively. In addition, imports of raw materials, 30.68%, and 8.56% respectively. The prospectus explains, Yee on technology exports throughIts wholly-owned subsidiary, Yee Hong Kong, Yee Hong Kong, established in August 2007. Yee on technology's second-biggest customer innovations group due to the high Yee industrial awareness, will still be billed for Yee industrial. Yee on industry has not such payments in a timely manner to appropriate technology, resulting in the seizure of the funds until the end of 2010 all recovered. June 2011Today, creates the group formally correct loan payments. Such an interpretation is too far-fetched, large shareholders are taking up more than 30 million of the purchase price, and taking a year-long recovery? 5 PE stake spread Yee 5 times times shareholders are exclusively institutional shareholders, in addition to Yee industrial holding 78.75% shares, xiangjiang industry investment company limited, Hong Kong Holdings LimitedDivision, the lay Management Consulting Center in Dongguan (limited partnership) investment management, Dongguan branch company, Changsha thick water investment consulting partnership (limited partnership) a total of 5 investment, holding, respectively, 9.13%, 5%, 1%,. It is interesting, these 5 VC in September 2009 and share in the same period, but the transfer priceAnd, xiangjiang industry and consult with your heavy water per HK registered capital contribution of HK $ 5.9, creating investment allowance of HK $ 8.4, residential investment in Hong Kong and continue to consult for only HK $ 1.5, the transfer price should differ by more than 5 times. Where residential investment in Hong Kong and continue to consult the Yee on technology investments to set up internal staff, transfer prices lower. But the remaining threeWhat the VC wants to be discrimination? In response, the prospectus explains: "using the xiangjiang industry investment platform, integrating its investee enterprise resources, develop potential customers, expand into the mainland market. "Hunan xiangjiang industry holding shareholder investment holding group, holding 99.5%. It is understood that the xiangjiang industry investment management 31 new material, heavy industries, Bojun in Tang dynastyGod and so on more than 30 projects. Love me, love my dog, thick water advisory for the Xiang River investment industry employees, hence the price. Thick water advisory is the largest shareholder of investment to achieve capital investment company, owns 27.06%. Have to say is that investment to achieve the China Merchants securities wholly owned direct investment child company
tera gold, total investments in the first half of last year the Deer Mountain in Guangzhou new material company limited, Jiangsu ProvinceSpecific new materials limited, Mayor of Shenzhen bright Technology Corporation, precious silver company limited in binzhou city a total of 4 companies, which have long on technology on March 6. However, Yee technologies prospectus shows that merchants achieve and cannot share the Yee on listing of technology gains. In October 2011, thick water advisory partners change, introducing including investment to achieve the
swtor credits, A new partner, the partnership agreement added a partner does not have thick water advisory Yee on sci-tech investment gains and losses. But merchants achieve and advisory relations not only in the thick water, thick water advisory shareholder xiangjiang industry employees, last year investment to achieve collaborative industrial joint venture set up merchants of the Xiang River xiangjiang industry investment Ltd, registered capital of $ 1.157 billion, of whichShangzhiyuan invested 300 million RMB, xiangjiang industry invested 30 million Yuan, Hua Qi invested 150 million Yuan investment.
"Visiting Professor" wealth or ultra 1 billion Yee on technology in effective control of Li Yangde, Yee on industrial 99.99% stake, indirectly holds 78.75% of Yee on technology shares, which 66.1493 million shares. Prospectus shows 2011 Yee on branchBasic earnings per share of $ 0.66, 29.54 times reference index published on March 16 in the industry dynamics earnings estimates, Yee technologies offer price might be $ 19.5/unit, will reach $ 1.29 billion in the market value of the shares held by Li Yangde. In addition, subject to suitable technology, there are 13 companies owned by Li Yangde, including Yee on resort industry, Dowell, precisionProducts, gold in Dowell holding, chemical industry and so on. Access to information displayed, Li Yangde graduated from Tsinghua University, master of business administration, Yee on right to existing 36 patents and patent applications of science and technology are gained by him. Interesting is that Li Yangde not only sitting on several companies, multiple University Professor title on his head, for example, Ningxia, Huazhong University of science and Professor of the University, visiting Professor, school of xiangfan, Professor of jiamusi University, Beijing science and Technology University PhD graduate students assist teachers.
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