On October 12, Gome completed the tender offer for Zhongguancun. However, the acquisition was not as expected. Gome originally planned to acquire 13.36% of Zhongguancun's shares, and finally only acquired 5.48% of the shares, less than half of the plan. After the completion of the tender offer, Gome will hold 35.4875% of Zhongguancun's shares. As Huang Guangyu's time of release is getting closer, the Gome investment landscape will further expand.
'The acquisition may not be expected may be the recent stock holdings or holders reluctant to sell, for the future will continue to increase holdings, there is no clear instructions for the time being yet," Li Hong, general manager of Gome's investor relations, told the "Securities Daily" reporter Express.
600 million inviting acquisition
Less than half done
On August 15 this year, 'Huang Guangyu Concept Stock' Zhongguancun announced that the company's shareholder, Gome, intends to increase its holdings of the company's shares at a price of 6.20 yuan per share through a tender offer. The number of shares to be acquired is 100 million. Shares, accounting for 13.36% of the total share capital of Zhongguancun. The maximum amount of funds required for this acquisition is 623 million yuan.
It is understood that before this, Zhongguancun as a member of the Gome, Gome and its concerted action Gome Holdings, Lin Feiyan held a total of 29.9999% shares in Zhongguancun. According to the plan, after the completion of the acquisition, Gome will hold 43.36% of Zhongguancun shares.
Zhongguancun said that the tender offer aims to further increase the shareholding ratio of the acquirer and its concerted action to the listed company, enhance the control and influence on the listed company, promote the long-term strategic stability of the company, and boost the confidence of the capital market. The sub-requisition is not intended to terminate the listing status of Zhongguancun.
However, even if the offer price of 6.2 yuan/share is 20% higher than the average price of Zhongguancun's share price 30 days before the announcement of the tender offer report, the acquisition target is less than half. According to the announcement, as of October 8 On the date of the expiration of the tender offer period, during the tender offer period from August 31 to October 8, the number of pre-received tenants was 1,017, and a total of 41,328,155 shares were accepted by Gome. After the completion of the acquisition, Gome The department holds 267,265,694 shares of Zhongguancun, accounting for 35.4875% of the company's total share capital.
On October 12, Zhongguancun stock resumed trading and closed down 3.81% on the same day, at 5.81 yuan per share. 'The tender offer is a matter for buyers and sellers. For the acquisition is not up to expectations, some people may lose more, and feel that this price is not suitable for sale. This is a market behavior; some people may be optimistic about the company, and feel that it is not worth the price. 'The staff of the Zhongguancun Board Secretariat told the Securities Daily that the stock price decline on the first day of the resumption of trading may also make up for the decline. Currently, Gome has not continued. The plan for the acquisition, but does not rule out the future increase in holding according to market conditions or their own needs.
It is worth mentioning that on August 21 this year, Zhongguancun announced that the office address was changed to Beijing Pengrun Building, which is the location of the Gome headquarters. The aforementioned Zhongguancun staff told the Securities Daily that the change of office address is mainly In terms of rent considerations, of course, there are also two sides to work and consider. 'When you open a board, you don't have to run around.'
Stripping property
Zhongguancun layout is big and healthy
For this increase, some analysts believe that the Gome is in the early release of Huang Guangyu's release, or intends to list Gome's backdoor Zhongguancun.
However, at present, although the Gome Department has further increased its shareholding in Zhongguancun, it still has a certain distance from the holding. Li Hong told the Securities Daily reporter that whether the acquisition is expected or not up to expectations, the number of shares will come up. It is said that the current investment in Zhongguancun can only be financial investment, and will not hold a controlling stake.
'But from the internal business ecosystem of the company, Gome is now building an ecosystem of home and life, including home improvement, home, home appliances, home services, and some local ideas about family health in the future. 'Li Hong told Securities Daily Reporter, as the future enters the old society, some electronic devices and health devices in the elderly family will have a certain market. These are not entirely electronic products but may be electronic medical products. At the same time, there is the possibility of drug sales, because Zhongguancun There are corresponding licenses and channels, so there will be ideas and layout for further cooperation in the future.
Zhongguancun started its real estate business in the early years. After several equity changes, the Gome became the largest shareholder. Currently, it is gradually divesting its real estate business and transforming into a big health field. On September 19, Zhongguancun announced that it is a wholly-owned subsidiary of the company. Taihe Nursing Home intends to purchase 7 suites of Beijing Chaoyang District owned by Beijing Zidong Sifang for RMB 50.56 million to expand its main business. Zhongguancun said that the pension business is the pillar business of the listed company's future pharmaceutical health business strategy. It is also one of the main business directions of the company in the future.
On the evening of October 14, Zhongguancun released the forecast for the first three quarters of 2018. It is expected that the profit from January to September this year will be about 95 million yuan to 110 million yuan, a year-on-year increase of 424.15%-475.34%. The growth is mainly due to the top three pharmaceutical businesses. The quarterly sales momentum is good and the transfer of 100% equity of Harbin Zhongguancun Development and Construction Co., Ltd. is expected to increase the transfer income by about 50 million yuan.