The male god of magic capital

Chapter 299 300 Consecutive Mergers and Acquisitions
The next day, Chengtian Mixed Pioneer continued to buy, and all major sectors were buying, but so many major sectors only bought 100 billion. On average, each major sector is only a few hundred million funds, and it has to be distributed to the various listed companies. In terms of stocks, one can imagine how insignificant it is.

Although Chengtian Mixed Pioneer has to use [-] billion funds to enter the market, the amount of daily purchases is very small, which cannot support the stock market, or even has no effect at all.

For example, in the medical and biological sector, the transaction volume is tens of billions, and Chengtian Mixed Pioneer can only enter 3 million. What effect can it play?
The transaction volume of a company with a market value of tens of billions is only several hundred million, so the daily purchase amount of Chengtian Mixed Pioneer is negligible.

Stocks are down slightly today.

[The two cities are weakly consolidated. The Shanghai Stock Exchange Index fell 0.3% and the pork sector performed well.]

In the early trading, the three major stock indexes were mixed. As the banking and other heavyweight sectors continued to drop, the indexes of the two cities fell one after another, and the Shanghai index continued to fluctuate below the flat line.

Near the end of the morning, the index stabilized slightly. With the changes in Hainan, horse racing, pork and other sectors, the stock index rebounded slightly.In the afternoon, the index fluctuated and rose, the Shanghai index and the Shenzhen Component Index narrowed their declines, and the index once turned red.

Near the end of the day, the three major stock indexes fell again. On the disk, the agricultural-related sectors rose, and the domestic software sector rose.Generally speaking, the willingness to do more funds is not strong, and the effect of making money is not satisfactory.

As of the close, the Shanghai Index reported 2893.76 points, down 0.29%; the Shenzhen Component Index reported 9414.00 points, down 0.31%; the Chuang Index reported 1625.19 points, down 0.18%.

Many retail investors who bought stocks today were trapped and made a lot of profits.

After all, there are many stocks that go up, and many stocks go down, it depends on whether you bought it right or not.

"Hey, I thought Chengtian Mixed Pioneer would buy stocks on a large scale, but now it seems that it's just talk."

"Grandma's, it turns out that the thunder is loud and the rain is little."

"Yeah, there's a lot of thunder and little rain, so I'm going crazy."

"Hey, this Chengtian Mixed Pioneer is estimated to be a steady purchase, not a large-scale one-time bottom-hunting."

"I estimate that every day it is worth billions to the major sectors."

"Maybe tens of billions!"

"Hey, I don't know how the next stock market will go."

"Yes!"

"Analyze, analyze!"

"A shares have once again entered a complex shock cycle!"

"Today, the Shanghai Composite Index underwent a wave of adjustments after the market opened, and then rebounded from shocks, but the rebound was not strong enough. It fell back again in late trading, closing down 8 points, and closed with a small negative line. Looking at the market, the ChiNext, which represents the trend of subject stocks, and the Shanghai Stock Exchange 50 Indexes such as Shanghai and Shenzhen are relatively strong, and the main short-selling force comes from weighted indexes such as the Shanghai Stock Exchange 50 and the Shanghai and Shenzhen 300.”

"Looking at the rhythm of the small cycle, it fluctuated in the early trading today, and the intraday rebound and late fall have the same rhythm, but the overall trend is obviously weak. Today's rebound did not hit a new high. The space did not touch the Gann resistance line, and the structure of the small cycle did not. Out of the high 5-wave form, therefore, it is not possible to confirm the end of the first wave of rebound, but at the point of time, the market has not achieved a breakthrough, the market trend is more complicated than expected, and the short-term is likely to run a complex shock cycle. "

"Because there is no high point at today's time point, the large-cycle structure needs to be studied in detail at the weekend. However, looking at the time-sharing line, today's high level is relatively heavy, while the low level has no trading volume, especially in the late trading. Phenomenon, tomorrow the market is likely to have adjustments.

"In terms of operation, the structure of the small cycle is a little bit beyond expectations. The detailed analysis needs to be studied carefully at the weekend. On the whole, the rebound is not over yet, but after the long-short game in the early stage, the market may enter a complex repair period, and it is likely to build a For the new shock platform, there is no obvious breakthrough in the direction yet, and we will remain cautious in operation for the time being, and make a decision after the direction is clear.”

····
Chengtian Holdings, and many other analysts and researchers posted their opinions on the forums and Weibo.

Now the researchers and analysts of Chengtian Hybrid Pioneer all have discussion accounts and Weibo accounts, and they usually carry the trend.

···
In the president's office, Luo Cheng checked the work status reported by the responsible persons of the subsidiaries under the Chengtian Department.

"Boss, the current self-operated cash flow of Chengtian Holdings is still 67.5 billion. Do we want to acquire some listed companies?" Jiang Manman walked in.

Previously, Chengtian Mixed Pioneer raised 2700 billion funds and collected 67.5 billion management fees. Now the cash flow is very abundant, and it can acquire listed companies and create a listed subsidiary group of Chengtian.

Luo Cheng asked: "Manman, do you have any promising companies?"

"Meibang Clothing" Jiang Manman said and handed over the materials of Meibang Clothing.

The stock price of Smith Barney Apparel has fallen by [-]% from its high level!
Founded in 1995, Metersbon Apparel was once popular all over the country with the catchphrase "Don't take the usual way, Metersbonwe", and was once synonymous with local fashion.

Mebang Apparel is mainly engaged in brand building and promotion, marketing network construction and supply chain management. It organizes the design and sales of fashion and leisure clothing products of its brands such as Metersbonwe, ME&CITY, Moomoo, ME&CITYKIDS, CHINqi, and through offline store channels and Internet e-commerce The platform carries out the promotion of its own brand and the sales of related fashion and leisure products.

In August 2008, Smith Barney was successfully listed on the Shenzhen Stock Exchange. In 8, Metersbonwe's sales exceeded 2011 billion, with 4164 stores.

Since 2012, Smith Barney's performance has been declining year by year.

Previously, after the share price of Smith Barney Apparel fell below 2 yuan, it has been hovering at 2 yuan for a long time, and the cumulative decline has reached 16% this year.At present, the latest closing price of Meibang Clothing is 1.3 yuan, with a market value of 32.66 billion yuan.

While the valuation has shrunk, the company's inventory and revenue accounts are also expected to be significantly reduced.

According to the latest announcement of Meibang Apparel, the company and its subsidiaries have reviewed assets that may have signs of impairment at the end of last year, including inventory, accounts receivable, other receivables, non-current assets due within one year, and long-term receivables. , investment real estate, etc., after a comprehensive inventory and asset impairment test, it is planned to withdraw 3.66 million yuan of asset impairment reserves for last year.

Among them, inventory and accounts receivable are the two assets with the highest proportion of impairment, with an impairment of 1.97 million yuan and 1.7 million yuan respectively.

Smith Barney said that the company's inventory is mainly clothing inventory and a small amount of raw materials, and its net realizable value decreases with the increase in inventory age. Provision for impairment is made accordingly for aging inventories.When accruing inventory depreciation reserves, raw materials are accrued by category, and inventories are accrued by individual inventory items.

In terms of accounts receivable, Smith Barney said that it evaluates whether the credit risk has increased significantly based on a single item or a combination, taking into account the credit risk characteristics of different customers, and assessing the expected credit loss of accounts receivable based on the age of accounts.

In the first three quarters of last year, Smith Barney achieved revenue of 26.9 billion yuan, a year-on-year decline of 33.3%; a net loss of 7.05 million yuan.In the third quarter, it achieved revenue of 10.87 billion yuan, a year-on-year decrease of 18.57%, and a net loss of 2.28 million yuan.In addition, Smith Barney also disclosed last year's performance forecast that it expects a net loss of 5.8 million to 8.2 million yuan this year.

Regarding the impact of this asset impairment on performance, Smith Barney said that the withdrawal of this asset impairment provision will not affect the company's forecast for the company's last year's operating performance in the third quarterly report disclosed on October 10 last year.

Reduced shareholding to repay pledged debt
As a generation of national fashion brand, the "fall" of Smith Barney began after the end of the bull market in 2015.

In 2015, the stock price of Meibang Apparel reached a maximum of 13.37 yuan, and its market value exceeded 400 billion, reaching 413 billion; and now, the stock price of Meibang Apparel is only 1.3 yuan, and its market value has also fallen to 33 billion. In five years, the stock price has dropped by nearly nine to make.

Since 2012, Smith Barney's performance has been declining year by year. In 2013, Smith Barney achieved revenue of 78.9 billion yuan, a year-on-year decrease of 17%; in 2014, Smith Barney achieved revenue of 66.21 billion yuan, a year-on-year decrease of 16.08%. Last year, Smith Barney achieved revenue of 54.82 billion yuan, a year-on-year decrease of 28.59%.

Net profit also declined significantly.

2015年到2019年该公司净利润分别为-4.32亿元、0.36亿元、-3.05亿元、0.40亿元和-8.25亿元。

The inventory and accounts receivable that caused the asset impairment of Smith Barney Apparel are not optimistic.By the end of the third quarter, the inventory was still as high as 18.51 billion yuan, and the accounts receivable was 8.18 million yuan.

In addition to asset impairment, the major shareholder of Smith Barney is also very short of money.

At the end of January this year, Huafu Investment, the controlling shareholder and actual controller of Meibang Apparel, transferred its 1% shares of the company to Lai Xingyu through an agreement transfer method to repay part of its pledge debt in Zhongtai Securities Co., Ltd. and reduce the risk of stock pledge.

"BOSS, Smith Barney said in the announcement that the controlling shareholder intends to transfer part of the shares through the agreement, repay the stock pledge financing loan with the share transfer price, reduce the risk of stock pledge, and optimize the controlling shareholder's shareholding structure and financial status. The transfer of shares under this agreement will not lead to changes in the company's controlling shareholder and actual controller, and will not have any impact on the company's financial status, asset value, and sustainable operating capabilities.

"The latest survey shows that the cumulative number of pledged shares of the controlling shareholder Huafu Investment of Meibang Apparel Co., Ltd. accounts for 52.71% of the company's shares held by it. The controlling shareholder, Ms. Hu Jiajia, who is acting in concert, has no pledged shares. It accounts for 44.20% of the number of shares held in the company.”

"Boss, I have already contacted Ms. Hu Jiajia and the boss of Donghuafu Investment, and the other party promised to merge for 40 billion."

"Currently we can provide 20 billion in cash, plus the assets of Chengtian Clothing Company, and acquired it."

"Because of the previous expansion, Chengtian Clothing Company borrowed hundreds of millions of dollars and has a lot of debts. The other party said that the net assets are zero, so we just need to provide 20 billion in cash."

Luo Cheng nodded: "Then let's acquire Meibang Clothing!"

"Yes, BOSS" Jiang Manman rushed to do it.

Soon Chengtian Holdings announced that it had acquired Smith Barney for 40 billion.

Chengtian Holdings provided 20 billion in cash, and Chengtian Garment Co., Ltd. injected capital into Meibang Apparel, occupying a 34% stake in it.

Therefore, Meibang Apparel merged with Chengtian Garment Company and changed its name to Chengtian Garment Group, with a market value of 60 billion!
The Chengtian Department now has another listed sub-group!

This time, he spent 20 billion in cash and still has 47.5 billion in cash. Luo Cheng also plans to continue to acquire listed companies.

"Go and check the pharmaceutical company. I plan to acquire a listed pharmaceutical company, so that Chengtian Medical will not have to worry about research and development."

Jiang Manman quickly said: "Boss, Zhejiang Jiuzhou Medical Company is not bad. It has conflicts with Cangshan Medical Company, Hangzhou Qin Qihai, and Fengming Group in Jiaxing City. The current stock price has fallen very low. You can also Look."

Zhejiang Jiuzhou Pharmaceutical Co., Ltd. is a high-tech enterprise integrating production, sales, research and development of pharmaceutical raw materials and intermediates.
Zhejiang Jiuzhou Pharmaceutical Co., Ltd. is a high-tech enterprise integrating production, sales, research and development of pharmaceutical raw materials and intermediates. Its headquarter is located in the emerging port city on the golden coastline and the city in the Yangtze River Delta economic circle - Zhejiang Province and Taiwan continent.The company was founded in 1973, and in 1998, Zhejiang Jiuzhou Pharmaceutical Co., Ltd. was restructured and established.The company covers a total area of ​​more than 30 square meters. After years of development, it has formed a multi-level and multi-professional echelon of talents in high, medium, low and medicine, engineering, scientific research, economics, business, and political work.

The company released the first quarter report of last year. During the reporting period, the company realized an operating income of 3.98 million yuan, a decrease of 16.31% over the same period of the previous year, an operating profit of 0.55 million yuan, a decrease of 11.80% over the same period of the previous year, and a net profit (attributable to the parent company Owner's net profit) was 0.43 million yuan, a decrease of 15.82% over the same period last year
The confirmation of orders is delayed, and short-term performance is under pressure.

During the reporting period, the company realized operating income of 3.98 million yuan, a decrease of 16.31% over the same period of the previous year, and a decrease of 2018% compared with the fourth quarter of 32.93; the net profit attributable to the parent company was 0.43 million yuan, a decrease of 15.82% over the same period of the previous year. %, a decrease of 2018% compared to the fourth quarter of 30.40.The gross profit margin of sales was 28.39%, a decrease of 7.35% year-on-year and a decrease of 9.92% month-on-month.The decline in the company's performance is mainly due to the delay in order confirmation for the company's CDMO and API sectors, and it is expected to pick up in the second and third quarters.During the reporting period, sales expenses were 0.08 million yuan, a year-on-year increase of 27.59%, management expenses were 0.54 million yuan, a year-on-year decrease of 25.69%, and financial expenses were 0.09 million yuan, a year-on-year decrease of 57.55%, mainly due to the decrease in exchange losses during the reporting period.

The company's accounts receivable was 3.68 million, a decrease of 33.30% compared with the beginning of the period, mainly due to the recovery of the beginning of the period receivables

Now the market value is only 64 billion yuan.

"Boss, I called the other party before, and the other party said that the merger needs a premium of 80 billion!" Jiang Manman said.

Luo Cheng said indifferently: "This company is very promising, and the market value of tens of billions in the future will be no problem, so let's acquire it for 80 billion!"

"Yes, BOSS!" Jiang Manman hastily went to do it.

Then Chengtian Holdings announced the acquisition of Zhejiang Jiuzhou Pharmaceutical Company at a price of 80 billion!
Chengtian Holdings has prepared 40 billion in cash, and Chengtian Medical Company will inject capital into Zhejiang Jiuzhou Pharmaceutical Company together, obtaining a 34% stake.

Then Zhejiang Jiuzhou Medical Company changed its name to Chengtian Medical Group, and its headquarters was established in Taizhou, Zhejiang Province!

Another new listed sub-group!

This time, another 40 billion was spent, and the remaining 7.5 million cash was used to inject 6 million into other subsidiaries, and 1.5 million was used as daily operating funds.

(End of this chapter)