Liu Jiangyuan: Mao Industry Department'S Placards, Ginza Shares Should Be Another Abacus.

Mao industry assault

Similar to the previous placards and other companies, Huang Maoru shares the Ginza shares as a "surprise attack".

According to the announcement of Ginza shares at that time, Huang Maoru controlled the trillion investment from November 26, 2014 to December 23rd, and bought 5% of Ginza shares in 20 trading days.

If the average share price of the above paction range of Ginza shares is 8.79 yuan per share, it will cost about 228 million 568 thousand and 800 yuan in the short trading day of 20 years.

China trillion investment said that the increase of Ginza shares is optimistic about the future development of the company, and will continue to increase the company's stock in the right market timing.

In the first three quarters of last year, Ginza shares realized operating income of 10 billion 358 million yuan, down 1.26% compared with the same period last year, and realized net profit of 198 million yuan, up 1.47% over the same period last year.

The sudden attack of Mao industry immediately aroused the vigilance of Lu Shang Group, the largest shareholder of Ginza.

"In addition to Ginza shares, in February last year, Huang Maoru invested in another retail listed company, ST holdings, through the trillion investment."

Liu Jiangyuan told our reporter.

Reporters noted that despite the strong closing of Ginza shares in the morning of December 24th last year, the Shandong World Trade Center still receives the goods from the bulk trading market at the price limit.

According to the disclosure of Ginza shares, the Shandong World Trade Center, a controlling shareholder of the company and a group of Trusteeship of the Lu business group, increased 6 million shares in December 24th last year, accounting for 1.15% of the total share capital issued by the company.

Reporters noted that, before, excluding Ginza shares, as the head of Maoming Industry Department, Huang Maoru has successfully attacked five retail companies since 2005, including chengshang group, Mao Ye logistics, ST mall, Shenzhen quotient, and big business shares, and has been praised as "card maniac" by the market.

Up to now, Huang Maoru has incorporated the 3 A shares of chengshang group, Mao Ye logistics and ST mall.

"In terms of the terms and conditions of Ginza shares, the company itself has a strong M & a value."

Yang Xia, an analyst with China Merchants Securities, said that because of the relative decentralization of the proportion of major shareholders and the fact that the company's sales rate is one of the lowest in the industry, it is not surprising that it becomes the target of mergers and acquisitions.

Behind the increase

"Ginza shares do not seem to be an ideal choice for Huang Maoru."

According to Zhang Yuefeng, an analyst at Changjiang Securities, Huang Maoru prefers commercial stocks with low share price, dispersed ownership and poor performance.

His usual way to increase his holdings is to gradually increase his potential and then choose to attack in a timely manner, so as to achieve the right to speak and become the holder of the controlling shareholder.

"Ginza shares are the leading businesses in Shandong, with many commercial outlets and stable business performance, and their shares are not dispersed."

Zhang Yuefeng analyzed that on the next day when Huang Maoru reached the playing card line, the large shareholder Lu business group increased 6 million shares in an emergency and increased the share share ratio with the concerted action to 35.98%. At the same time, it did not rule out that the stock will not be increased by more than 2% in the next 6 months.

As a result, the majority shareholder firmly held the position of controlling shareholder.

In Liu Jiangyuan's view, for the shares of Ginza, if we want to copy the path of "lifting the cards and holding them", Mao industry is afraid of making a wish.

Zhang Yuefeng analysis shows that the major shareholder of the Ginza group, the Shandong business group, has expected the reform of mixed ownership, and the assets of the group retail, e-commerce, finance and so on are also expected to be injected into the listed company.

If it is involved, Mao industry is expected to participate in the management of Ginza shares to a greater extent. Even if it does not participate, it can enjoy the dividends of the company's performance improvement and stock price rise brought about by the reform of state assets.

"Or seek cooperation."

Liu Jiangyuan analyzed from the perspective of industry that the main businesses of Ginza shares and Maui international are retail and shopping centers, and the Ginza share stores are mainly located in Shandong province. The distribution of the stores is relatively concentrated, while Maui international is in Guangdong.

There are stores in Hebei, Jiangsu, Liaoning and Shandong provinces. If the two sides cooperate, they can form synergy and achieve win-win results.

However, Yang Song, a representative of the securities and Exchange Affairs Office of Ginza, said that as of now, China trillion investment has just sent a brief report on equity changes to the company's mailbox.

Mergers and acquisitions in retail industry

"Mergers and acquisitions in the retail industry are the general trend."

According to Liu Jiangyuan, on the one hand, the retail industry has ample cash flow and a large proportion of its own property, attracting large holdings of industrial capital and financial capital. On the other hand, the chronic diseases such as low consumption, electric shocks, serious homogenization and long chain are forcing the industry to change.

"

Trying to add new businesses is also related to the continuing downturn in the retail industry. "

The latest research report of Everbright Securities shows that in the first three quarters of last year, there was no obvious improvement in the operation of the listed companies in the retail industry. Most of the enterprises' income growth stagnated and their profit margins increased. The downward trend in the medium term was difficult to reverse, and the cash flow matching index reflected that the quality of the operation of the industry was still deteriorating.

According to the Research Report of Anxin securities, under the background of low base effect, traditional peak season of consumption and endogenous adjustment of enterprises, the retail industry in 2015 is expected to rebound slightly, but it will take some time to improve obviously.

Accordingly, Huang Maoru's aim is to cope with the backdrop of the delay in the department store industry and find ways to integrate its industry.

"

The abundant cash flow reserve is undoubtedly favored by all kinds of capital, and most of the old department stores have commercial real estate in the urban central area. "

In the view of Yuan Ji, chief strategist of Hang Seng Hang Seng company, Zhong Bai group has also been repeatedly cited for its reasons. The company has not only built key projects such as Jiangxia central big kitchen, Jiangxia shopping center, and warehousing supermarket pformation, but also has the largest commodity logistics distribution center and agricultural products processing and distribution base in Central China.

As a matter of fact, the recent A share market capital raising has been staged frequently, whether it is for financial investment consideration of financial capital, or focus on expanding business to improve the industrial chain's industrial capital. The Target Corp targeted at the integration of pformation expectations and contain potential appreciation potential offline resources.

Yuan Ji said.