Former Xiong’an concept leader Jinghan shares11.6 billion Marry Chinese Olympic Garden

FormerXiong’anconceptleaderJinghanshares11.6billion”Marry”ChineseOlympicGarden
Therealestateindustryhasaddedanother”marriage”,theformerXiong’anconceptleaderJinghan(000615)isaboutto”marry”ChinaAoyuan(03883).OntheeveningofApril7,ChinaAoyuanannouncedthatitssubsidiaryGuangdongAoyuanplannedtomakeapriceof11.600millionshareswereacquiredbyJinghan29.99%equity.Ifthetransferissuccessfullyimplemented,thecontrollingshareholderofJinghanwillbechangedtoGuangdongAoyuan,andtheactualcontrollerofthecompanywillbechangedfromTianHantoGuoZiwen.Atpresent,themarketvalueofJinghansharesisabout34.6.6billionyuan.FoundedinGuangzhou,ChinaAoyuanhastemporarilyexpandedfromaregionalhousingcompanytothewholecountry.ItsbusinessscopecoversSouthChina,EastChina,BohaiRimandotherregions.TheacquisitionofsharesinJinghanthistimemeansthatChinaAoyuanisabouttotakechargeofanA-sharelistedcompany,butChinaAoyuandeniesthe”plantoreturntoA”.TheearliestisthatastheleadingstockoftheXiong’anconcept,Jinghan’sinitialmainbusinessiserraticanddifficulttochange.Itoncetriedtoenterthehealthpensionfield.In2018,itbegantodeploythegreenfiberbusiness,butithasslowlyreplacedproduction.11.600millionUSdollars”marry”ChinaAoyuanJinghansharestheactualcontrollerwillchangeintheafternoonofApril7,Jinghansharesissuedamajoreventsuspensionannouncement,intheannouncement,JinghansharessaidthatthelistedcompanyholdingsharesTokyoHanHoldingsTheGroupCo.,Ltd.isplanningtoallocateequitytransfertargets,andintendstotransferthesharesitholdstothecompany’stotalsharecapitalintherangeof25%-30%(excluding)tothestrategicinvestoragreement.Thismattermayinvolvechangesinthecompany’scontrol.Thewell-knownstrategicinvestorunveiledthatnight-thatis,themomentumhasbeenfierceinrecentyears.Inthe2019performanceconference,hesaidthathewillchoosehigh-qualityprojectsforthemergerandacquisitionofHongKong-listedChineseAoyuanfrom2020to2021.ChinaAoyuanwasestablishedin1996andwaslistedontheHongKongStockExchangein2007.Itsbusinessinvolvesrealestate,commercialrealestate,culturaltourism,healthylivingandothersectors.Ithasbeendeployedin80cities,anditsbusinessscopecoverssouthernChina,easternChina,andcentralandwesterncores.AreaandtheBohaiRimarea.ThedevelopmentmomentumofChina’sAoyuandevelopingcountriesisstrong.StartingfromtheGuangdong-HongKong-MacaoGreaterBayArea,ChinaAoyuanisgraduallyrealizingthefullcoverageofthefirst-tiercitiesinthenorth,north,Guangdong,andShenzhen.Amongthem,mergersandacquisitionshavebeenthecompany’smainwaytoincreaselandreserves.In2019alone,ChinaOlympicGardenaddedatotalof87newprojects,withanewly-developableconstructionareaofapproximately16.09millionsquaremeters,ofwhich79%wereM&Aprojects.Withfullacquisitionproceeds,ChinaAoyuanachievedrapidgrowthandachievedpropertycontractsalesfrom256in2016.2billionyuanroseto1180in2019.600million,rankingamongthetop30nationalsales.Obviously,inthe2019financialreport,ChinaAoyuansaidthatitslayoutinsouthernChina,thecentralandwesterncoreregions,easternChina,theBohaiRimregionandoverseasregionsaccountedfor42%,27%,17%,10%,4%.ItcanbepolishedfromthedatathatChinaAoyuanaccountsforarelativelysmallamountinNorthChina.ForChinaAoyuanwhowantstogrowintoanational-scalehousingcompany,itneedstoincreasethelandreservesinNorthChina,andJinghanholdsatotalof18projectsItismainlylocatedinBeijing,Tianjin,Chongqing,Chengdu,Nanjing,Taiyuan,GuangdongProvince,HebeiProvinceandotherplaces.Thetotalavailablesaleableconstructionareaisabout123.70,000squaremeters.Facedwithmanyspeculationsinthemarket,ChinaAoyuandeniedthe”backtoA”plan.ChinaAoyuansaidthatafterthecompletionofthisacquisition,JinghanwillbecomeasubsidiaryofChinaAoyuan,therebyfurtherenrichingthecompany’slandreservesandincreasingtheproportionoffirst-andsecond-tiercities,whichwillhelpdeepentheareawhereitislocated,increasemarketshareandInfluence.Accordingtopreliminarysources,asa100billion-levelemergingenterprisegroup,ChinaAoyuanhascorecompetitiveadvantagesinthemainrealestateindustry;Jinghanshareshigh-qualitylandstorageresourcesandcangraduallyreplacethehealthindustrytoacceleratestrategictransformation.Obviously,Jinghan’snavyiscontrolledbyXiong’anFushangTianhan.Afterthetransaction,GuoZiwenwillreplaceTianhanastheactualcontrollerofJinghan.AccordingtotheannouncementofChinaAoyuan,priortothisacquisition,JinghanHoldingsandJianshuiTairongeachownedapproximately37sharesofJinghan.04%and3.With88%oftheshares,TianHanCommunistPartycontrolsabout40sharesofJinghan.92%equity.Uponcompletionoftheacquisition,ChinaAoyuanwillindirectlyholdJinghansharesthroughGuangdongAoyuan29.99%equity.Basedonthiscalculation,theproportionofsharesheldbyTianHananditsconcertedpartiesinJinghanwasreplacedbyabout40.92%recognized10.93%,Jinghansharescontrolwillchange.TianHanbecamefamousasthe”richestmaninXiong’an”threeyearsagowiththeXiong’anNewDistrict.AccordingtodatafromDongfangFortune.com,themarketvalueofJinghanis10.8billionyuan,andtheoperatingincomewas42in2016.400millionyuan,netprofit1.0.9billion.The2016annualreportshowsthatTianHanandhiswifehold51sharesofJinghan.77%oftheshareshaveamarketvalueofapproximately5.6billionyuan.In2016,JinghanshareslandedonAsharesthroughbackdooring.ButforJinghanshares,TianHanmayhaveretreatedasearlyaslastyear.ThedatashowsthatfromNovember2019toMarchthisyear,hehasgraduallyreducedhisholdingofJinghansharesthroughJianshuiTairong4.98%oftheshares.ThetransformationofJinghan’sshareswas”unfavorableforyears”,andChinaAoyuanenteredtheBeijing-Hanshares,whichwouldberegardedastheleadingstockoftheXiong’anconceptbytransfusionof500millionbloodtransfusions,toavoid”failureforyears”.Jinghansharesdisclosedthatafterthecompletionofthistransaction,ChinaAoyuanwillinjectliquiditysupportofnotlessthanRMB500millionintoJinghansharesthroughborrowingorfinancingassistance.Repaythetargetcompany’soverduefinancialinstitutiondebtsandpayfortheguaranteeoftheproject’snormaloperationresponsebudget.Choicedatashowsthatasoftheendofthethirdquarterof2019,Jinghan’sassetsandliabilitieshavereplaced78.38%,currentassetsincome88.01%,thecurrentratioisonly1.24.Thequickratioisonly0.34.Intotal104.OfthetotaldebtofUS$7.4billion,currentdebtwas92.1.8billion.Inaddition,asofnow,thecompany’sheadquartersholdingstockTokyoHanHoldingsGroupCo.,Ltd.hasgraduallypledged2.9billionshares,accountingfor37ofthecompany’stotalshares.04%,accountingfor100%ofitsshareholding.Jinghan’s2019performanceforecastshowsthatthecompanylastyearexpectedaprofitof10millionto20millionyuan,ayear-on-yeardeclineof87.29%to93.64%.TheperformanceoftheAirForceandJinghanCompanyhasexperienceda”cliff-style”decline.Thedatashowsthatfrom2016to2018,Jinghan’sattributablenetprofitwas1,respectively.0.9billion,3.0.9billionand1.At57trillionU.S.dollars,asofthethirdquarterof2019,thecompany’sattributablenetprofitwasrecordedaszero.4.3billionyuan.AstheleadingstockoftheXiong’anconceptinthepast,Jinghansharesonceattractedtheattentionofthecapitalmarketbecauseofthislabel.In2017,Jinghansharesroseto26alltheway.85yuan/share,butasofApril9,thereporterissuedareport,Jinghanshareshavefallento4.31yuan/share.Jinghan’sofficialwebsiteshowsthatthecompanywasfoundedin1996andisheadquarteredinBeijing.ItisanA-sharelistedcompanywithanationallayoutanddiversifieddevelopmentinthefieldsofhealthcare,greenfiber,themetowns,healthyhousing,andconstructionengineering.ThereisnodoubtthatJinghansharesareacceleratingstrategictransformationtoreplacerealestate,butrealestateisstillanimportantsourceofrevenueforJinghanshares.Thedatashowsthatin2017,2018andthefirsthalfof2019,Jinghan’srealestatebusinessaccountedfor74%oftheoperatingincome.93%,73.26%and72.77%.Underthesloganofsplittingrealestate,JinghanCo.,Ltd.seekstransformation,andpubliclystatedthatitwillgraduallywithdrawfromthetraditionalrealestatebusinessthereafter,focusingonR&Dandmanufacturingofnewmaterialsandgreenfiberrelatedindustries.However,the2019performanceforecastshowsthatthecompanyhasnotincreaseditsrealestatebusinessrevenueduetostrategictransformation,whilethetransitionalgreenfiberprojectisstillunderconstructionandhasnotyetgeneratedrevenue.Sauna,NightNetEditorZhangZeyanChenLiproofreadingLiXiangling