The hottest Guanhao high tech may merge Yuehua pac

Guanhao high tech may merge with yuehuabao B to find another way to solve the B-share problem

Guanhao high tech and yuehuabao B, which have been suspended for two months, reported yesterday that they would absorb and merge. Call the two companies, and relevant people of the two companies said that they were currently in the suspension period, so it was inconvenient to disclose relevant information, and everything was subject to the announcement. A number of insiders said in an interview yesterday that the two companies were suspended at the same time and belonged to the same major shareholder. It is not ruled out that Guanhao high tech will absorb and merge Yuehua package B. if it takes place, it means that a new way has been opened to solve the problems left over by the history of B shares. The two companies may absorb and merge

Guanhao high tech announced on Monday that the current restructuring is still continuing, and the trading of the company's shares continues to be suspended, but other major acquisitions planned by the company have made progress. Due to the planning of major asset restructuring, the trading of Guanhao high tech shares was suspended from June 13. Coincidentally, Yuehua package B was also suspended from June 13. On Monday, the company announced that it was planning a major asset restructuring, and the suspension continued due to the high complexity of related matters

it is worth mentioning that the actual controllers of the two companies are China paper Investment Corporation under China Chengtong holding group. Guanhao high tech announced on August 26 that it plans to absorb and merge a domestic affiliated enterprise. Yesterday, it was reported that the enterprise the company wants to absorb and merge is its brother Yue. "Although this time does not include the insertion of preforms or the removal of components, Huabao B

Zhang Qi, an analyst at Haitong Securities, believes that it is more likely. He told yesterday that the two companies were controlled by the same shareholder and suspended trading at the same time, and Guanhao high tech made it clear that it would absorb and merge affiliated enterprises, which made people suspect that it was probably Yuehua Bao B

yesterday, two companies were called on this matter. Jiang Zhuowen, the representative of Yuehua Bao B securities affairs, said that the company's restructuring is still in progress. It is difficult to determine whether the company can resume trading after the National Day holiday. The company has been suspended. It is not convenient to disclose relevant information at this stage, and everything is subject to the company's announcement. The relevant person of Guanhao high tech Securities Department said that he was not very clear about the matter, and everything was subject to the announcement. As of press time, there was no further reply

yuehuabao B, which is mainly engaged in packaging paper business, landed in Shenzhen B-share market in July 2000. In June 2005, China paper Investment Corporation under Chengtong Group took over Foshan Huaxin Development, the major shareholder of yuehuabao B. However, due to various reasons, the performance of yuehuabao B has been unsatisfactory, and the net profit of the company in the first half of the year was only 3.886 million yuan

according to the data, Chengtong holdings owns five listed companies, namely, Central Reserve Co., Ltd., yuehuabao B, Guanhao high tech, Yueyang forest paper, and Meili Paper. At present, only yuehuabao B and Guanhao high tech are suspended, and Yueyang forest paper, which is also part of China paper Investment Corporation, has normal transactions with the two companies

find another way to solve the problem of B-shares

since mid December last year, CIMC group successfully listed in Hong Kong in the form of B to h, Vanke and Lizhu B-shares have successively announced the plan of B to H. at the beginning of this year, TEPCO B also proposed the plan of B to A. on August 30, the plan of B to a of TEPCO was approved by the CSRC, which is the first pure B-share company in Shanghai to solve historical problems

a number of insiders said in an interview yesterday that if Guanhao high tech absorbs and merges Yuehua package B smoothly, it means that it will open up a new way to solve the problems left over by the history of B shares

Liu Zengjun, an analyst at Soochow securities, believes that after the proposal of B to h and B to a, this is also a way to solve the problems left over by the history of B shares, but it is more limited to the situation that the group or its associated companies are listed on a shares

Zhang Qi, an analyst at Haitong Securities, said that previously, the major shareholder of Dongdian had converted Dongdian B into a shares by absorbing and merging Dongdian B, but if Guanhao high tech absorbed and merged yuehuabao B, it would undoubtedly find another way to solve the B-share problem. At present, there is no overall solution for B-shares, but some companies can fully absorb and merge. For example, Jinjiang Hotel, which is listed in Hong Kong, has three companies, including Jinjiang shares, Jinjiang investment, and Jinlv B-shares, which can be absorbed and merged into an A-share company

the difficulty of merger and absorption is not small

before that, Dongdian B had made a uproar at the general meeting of shareholders because of some dissatisfaction with changing the share price. If the two companies that constitute finished parts are absorbed and merged, how to determine the exchange price is also the concern of investors

the average price of Guanhao hi tech 20 days before the suspension was 17.91 yuan, while the average price of Yuehua Bao B 20 days before the suspension was 4.11 Hong Kong dollars, corresponding to about 3.288 yuan. If the conversion rate of pure stock price is 5.44 shares of Yuehua Bao B for 1 share of Guanhao hi tech

Hu Hongwei of Tongxin Securities said frankly that it is difficult for the two companies to absorb and merge. At present, the stock price of Yuehua Bao B is lower than the net assets per share, but the price to book ratio of Guanhao high tech is as high as more than ten times. He said that if the shares are exchanged, how can the exchange price or the proportion of the shares be determined to satisfy the investors of both sides? If the shares are exchanged according to the average price of the two companies 20 days before the suspension, because the share price of Guanhao high tech has soared before, and the share price is obviously high, the interests of the shareholders of Yuehua Bao B will undoubtedly be damaged. If the shares are exchanged according to the net asset ratio of the two companies, the shareholders of Guanhao high tech will not agree, which seems to be difficult to achieve the best of both worlds

Zhang Qi, an analyst at Haitong Securities, believes that at present, only a certain premium on the net assets of Yuehua package B can be given as compensation for B-share investors, and the specific proportion needs to be further negotiated with investors. On the whole, if the merger plan is adopted, Yuehua package B should rise significantly after the resumption of trading. Although Guanhao high tech has increased its assets after the merger, it is difficult to perform well due to the high share price before

Liu Zengjun, an analyst at Soochow securities, said that the absorption and merger is mainly the integration of the paper industry sector under the major shareholder Chengtong Group. The profitability of yuehuabao B has been poor in the past two years, so the merger will not bring a lot of benefits to Guanhao Gao's new service to Indian customers, and the conversion of yuehuabao B to a shares will benefit from it. After more than a year of speculation, the share price of Guanhao high tech has soared by more than six times in industrial production. The current share prices of the two companies are very different. How to determine the share price is questionable