In the first three quarters of this year, Mei Yan's auspicious (600,868) suffered a loss of 4,700,200 yuan, and the pressure of wearing a star was again hit. Yesterday, Mei Yan Jixiang announced that it plans to transfer the subsidiary with 79.8 million yuan. The reporters of the Public Securities News and Caixin.com noted that for a long time, Meiyan’s auspicious main business was not good, and it relied on selling assets for many times. For the company's frequent sale of assets, some investors expressed: "How many assets can the company sell? How to sell if there is no sale?"
Transfer assets twice a week
According to the trading plan, Meiyan Jixiang plans to sell 100% equity of Meixian Meiyan Spirulina Breeding Co., Ltd., a wholly-owned subsidiary, with a transaction price of 79.8 million yuan. According to the data, the target company mainly deals in the business of farming spirulina, aquatic products, planting vegetables, forestry, etc. In 2014 and the first 10 months of 2015, the net profit was 7.4426 million yuan and 7.587 million yuan respectively. The transferee is Guangdong Kedu Real Estate Development Co., Ltd. For the purpose of the transfer, Mei Yan said that the transaction will help revitalize the company's assets and further concentrate on the main business. It is expected that the transaction will generate revenue of about 35 million yuan, which will have a positive impact on the company's financial status.
The above transfer is the second transfer planned by Mei Yan during the week. According to the announcement of the company on November 20, Mei Yan Jixiang intends to transfer the land and related machinery and equipment of the stone paper mill belonging to the holding subsidiary Guangdong Xianglong Technology Co., Ltd. to Meixian Suifeng Grain Storage and Storage Co., Ltd., with a total transaction price of 21.33 million yuan. . Mei Yan said: "The transaction does not affect the daily production and operation of the holding subsidiaries, which helps to revitalize the assets of the holding subsidiaries. The income attributable to the listed company generated by this transaction is estimated to be 4 million yuan, which has a positive impact on the company's financial status. ."
The transfer of assets planned by Mei Yan Jixiang in this year also includes: On June 30, the company stated in the announcement that it has transferred the commercial and residential land with an area of ​​about 40,000 square meters to Guangdong Kedu Real Estate Development Co., Ltd., with a total transaction price of 25.056 million. Yuan, will receive 18 million yuan in revenue. On September 29, Meiyan Jixiang announced that the company will transfer 42% of the total share capital of Jimei Jinxiang Copper Foil Co., Ltd. to Guangdong Jiayuan Technology Co., Ltd., and the total equity transfer price is 73.384 million yuan.
How many assets are available for sale?
The reporter noticed that behind the frequent transfer of assets by Mei Yan's auspiciousness, the company is about to face the pressure of wearing a cap. Financial data shows that the company lost RMB 4,705,200 in the first three quarters of this year, and the company had a loss of RMB 5,522.8 million last year. This means that if Meiyan Jixiang can't turn losses before the end of this year, the company will face the fate of wearing a hat after the 2015 annual report.
It is worth mentioning that in the history of the development of Meiyan's auspiciousness, it is not the first time to avoid the suspension of listing by selling assets. In 2006, Mei Yan auspicious huge loss of 756 million yuan, a loss of 165 million yuan in 2007. In 2008, the three subsidiaries of Meiyan's auspicious “selling†realized a turnaround, and finally realized a net profit of 190 million yuan.
For the company's frequent sale of assets, some investors questioned: "First sell stone paper mills, now sell farms, then the stakes of the subsidiaries listed on the New Third Board should be sold as well? How many assets can the company sell? Sell What if I can't sell?"
With investors' questions, the reporter called Meiyan's auspicious securities department yesterday. After receiving the answer, the staff first asked for the identity of the reporter. Then the telephone line was noisy and then the line was broken. The reporter tried several times, and finally the phone directly became unanswered.
According to the company's 2015 semi-annual report, in addition to Meixian Meiyan Spirulina Breeding Co., Ltd., the company also owns 8 subsidiaries including Meixian Longshui Hydropower Co., Ltd. and Fengshun County Meifeng Hydropower Development Co., Ltd., but the company has not announced in detail every Financial data of a subsidiary company, etc.
Executive compensation totals over 10 million
Despite the company's poor performance, company executives still enjoy higher pay. According to the company's annual report last year, the company's senior management team reached 24 people, with a total salary of 110.387 million yuan. There are up to 12 executives with an annual salary of more than 500,000 yuan. The highest salary was Yang Qinhuan, general manager, who paid 1.48 million yuan last year, an increase of 17,400 yuan over 2013.
It is worth mentioning that since the beginning of this year, Meiyan's first major shareholder has made six consecutive changes. Until the company became the largest shareholder, the company's largest shareholder has not changed. However, the shareholding ratio of the securities company is not high. As of September 30 this year, the securities company held a total of 7,360,200 shares of Meiyan auspicious, accounting for only 0.39% of the total share capital.
Earlier, Mei Yan’s auspicious director, Hu Suping, said in an interview that the major shareholder change had no impact on the company’s normal operations, and the company’s decision-making was governed by the system. However, some insiders believe that although the dispersion of equity is conducive to democratic decision-making, it will reduce work efficiency. "Some major strategies of the company, such as restructuring, in the absence of a strong controlling shareholder, the opinions are difficult to unify, resulting in failure."
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