Gimpo Group takes 4.2 billion yuan to become a private enterprise from a central enterprise in Cangzhou Dahua

At a time when local state-owned assets frequently "assisted" private enterprises, Gimpo Group, as a private enterprise, became the owner of the central enterprise Cangzhou Dahua, which is a bit special

On the evening of October 31, Cangzhou Dahua (600230.

On November 1, a reporter from the 21st Century Business Herald called Cangzhou Dahua as an investor.

Conform to the needs of state-owned enterprise reform

Public information shows that before this equity change, China Agrochemical held 46.

On December 1, 2017, China Agrochemical began planning for the equity change of Dahua Group

After that, a total of 2 intended transferees signed up

Guohai Securities once commented on the transfer in a research report issued in August: “This move is expected to introduce private capital, improve the company’s shareholder structure, introduce a market-based competition mechanism for private enterprises, stimulate the innovation vitality of state-owned enterprises, and improve the operational efficiency of state-owned enterprises

　　Cangzhou Dahua is a long-established state-owned enterprise that once fell into a dilemma in 2014.

　　In terms of performance, Cangzhou Dahua has made steady profits in the past two years.

　　Why is Cangzhou Dahua still facing the end of being sold after its performance improves?

　　On November 1, a reporter from 21st Century Business Herald called China Agrochemical to inquire about the details of the incident.

　　When asked about the evaluation of the transfer, a person from the Cangzhou Dahua Securities Department said frankly: "We have no attitude.

　　The announcement shows that this move is in response to the needs of the reform of state-owned enterprises

　　According to China Agrochemical, Dahua Group is mainly engaged in the production and operation of TDI and urea.

　　The transfer also revealed the securitization process of ChemChina, the actual controller of China Agrochemical

　　Strong new owner

　　In the news of state-owned assets taking over private enterprises, as a private enterprise, Jinpu Dongyu's behavior of throwing 4.

　　According to the announcement, Jinpu Dongyu aims to intervene in the management and operation of listed companies through this acquisition, and use listed companies as a platform to further integrate high-quality resources in the industry, improve the operating conditions of listed companies, and enhance the profitability of listed companies

　　According to the announcement, the transfer amount reached 4.
2 billion yuan, and the price paid by Jinpu Dongyu came from its own funds and self-raised funds, of which its own funds and related party loans accounted for 40% of the total amount of the transaction, and bank M&A loans accounted for 60% of the total amount of this transaction
.

　　Jinpu Dongyu said that it is negotiating with banks on matters related to M&A loans, and there is a certain degree of uncertainty in the implementation of M&A loans
.

　　The transferee is more cautious
.
On November 1, 21st Century Business Herald reporters successively called Jinpu Dongyu, the parent company Jinpu Group, and Jiangsu Zhongshan Chemical, the controlling shareholder.
None of the three parties disclosed more details of the matter
.

　　The Gimpo Group said: “It has not yet signed a formal agreement, it is more sensitive, and everything is subject to the announcement
.
” Zhongshan Chemical said, “This matter is led by the group
.
”

　　On the same day, a reporter from the 21st Century Business Herald browsed the official website of Gimpo Group and found that the group had already attached a link to the website of Cangzhou Dahua among the links of its subsidiaries
.

　　The emergence of Gimpo Dongyu also brought the powerful Jiangsu private enterprise into the vision of Gimpo Group
.

　　Public information shows that Gimpo Dongyu is a subsidiary of Jiangsu Gimpo Group and a platform for Gimpo Group to establish investment, financing and mergers and acquisitions at home and abroad
.
The actual controller of the Jinpu Group is Guo Jindong, which already owns a listed company of Jinpu Titanium Industry
.

　　As of June 30, 2018, the total assets of Gimpo Group were 24.
271 billion yuan, the net assets attributable to the owners of the parent company were 4.
781 billion yuan, and the balance of monetary funds was 2.
673 billion yuan
.

　　In recent years, Gimpo Group has made frequent capital mergers and acquisitions.
At the beginning of this year, it successfully acquired a 51% stake in Nanjing Lead Oriental Rubber & Plastic Technology Co.
, Ltd.
; in mid-August, it acquired Zhejiang Guxiandao Green Fiber Co.
, Ltd.
, a leading domestic polyester industrial yarn company, for 5.
6 billion yuan.
51% equity of the company
.

　　At present, Gimpo Group has subsidiaries such as Jiangsu Zhongshan Chemical, Fujian Zhongshan Chemical, Nanjing Jinpu Kumho Chemical, Nanjing Titanium White Chemical, etc.
This time the move to Cangzhou Dahua will further expand the chemical industry
.