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Hainan Coconut Island "keeping the shell" countdown: the headquarters building worth 110 million yuan has been taken over!

November 08, 2018 09:03
source: Zhongxin Jingwei
edit:Eastern Fortune Network

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Summary
[Hainan Coconut Island "keeping shell" countdown: The headquarters building with a value of 110 million yuan has been taken over! 】 Xinxin Jingwei learned from Hainan Property Exchange on November 7 that the 60% equity of Hainan Coconut Island Sunshine Real Estate Co., Ltd. and the overall transfer project of the Coconut Island Comprehensive Building have been officially delisted. The transferee is Xi'an Tianlang Real Estate Group Co., Ltd. The transaction price is 400 million yuan. (Zhongxin Jingwei)

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The headquarters building of Hainan Coconut Island has finally been taken over!

Zhongxin Jingwei learned from Hainan Property Exchange on November 7 that the 60% equity of Hainan Coconut Island Sunshine Real Estate Co., Ltd. and the overall transfer project of the Coconut Island Comprehensive Building have been officially delisted. The transferee is Xi'an Tianlang Real Estate Group Co., Ltd. The transaction price was 400 million yuan.

The 60% equity of Hainan Coconut Island Sunshine Real Estate Co., Ltd. and the overall transfer project of the Coconut Island Comprehensive Building were officially delisted on November 7. Source: Hainan Equity Exchange

Insiders pointed out that the sale of the equity of the headquarters building and subsidiaries of Hainan Coconut Island will help the company to "protect the shell" to a certain extent. It is understood that due to the continuous negative negative net profit of 2016 and 2017, Hainan Coconut Island has been implemented by the Shanghai Stock Exchange to implement the delisting risk warning (*ST). If the company cannot turn losses into profit in 2018, it will be suspended. The risk of listing.

  Hainan Coconut Island 400 million yuan "selling" "selling houses"

On October 10, 2018, Hainan Coconut Island publicly listed the 60% equity of Hainan Coconut Island Sunshine Real Estate Co., Ltd. and the Coconut Island Complex (the corporate headquarters office building) at the Hainan Property Exchange. The reserve price was RMB 400 million. The date is 17:00 on November 6, 2018.

The assessment results show that the construction area of ​​the Coconut Island Complex is about 10,700 square meters, with a value of 112 million yuan. Under the premise that Sunshine Real Estate will continue to operate on August 31, 2018, the book value of the total assets included in the assessment scope will be approximately It is 373 million yuan, the total debt book value is 205 million yuan, and the net asset (owner's equity) book value is about 372 million yuan.

It is understood that the above-mentioned asset transfer of Hainan Coconut Island has a high "threshold". The announcement of the Hainan Equity Exchange shows that the transferee of the asset must be a legal person who has legally renewed in the territory, and the business has been in operation for more than ten years. The registered capital is not less than RMB 500 million. The financial position is good and it is the 2017 national real estate. Top 100 companies. In addition, the transferee must also have experience in the development of cultural tourism real estate and characteristic small town projects of not less than 1,000 mu.

The qualification conditions that the transferee of Hainan Coconut Island Asset Transfer Project must satisfy. Source: Hainan Equity Exchange

Nearly harsh conditions have left many companies discouraged, so that the above projects have not been collected to the intended transferee until the last moment of the deadline.

On the evening of November 6, Hainan Coconut Island announced that at 17:00 on the same day, an intent party, Xi'an Tianlang Real Estate Group Co., Ltd., submitted the “Application for Transfer of Property Rights” to Hainan Property Rights Exchange. Pay a deposit of 60 million yuan.

On November 7, Zhongxin Jingwei client learned from Hainan Equity Exchange that the 60% equity of Hainan Coconut Island Sunshine Real Estate Co., Ltd. and the overall transfer project of the Coconut Island Comprehensive Building have been officially delisted. The delisting party is Xi'an Tianlang Real Estate Group Co., Ltd. the company. According to public information, Xi'an Tianlang Real Estate Group Co., Ltd. was established in 2001, mainly engaged inreal estateDevelopment and management, has been rated as one of the top 100 real estate companies in China in 2017 and the top 100 real estate companies in China in 2018.

  "Bao Bao" is expected?

It is understood that Hainan Coconut Island was established in 1993, mainly engaged in the production and sales of alcoholic and beverage products, real estate development, trade and supply chain, and was listed on the Main Board in January 2000.

As the "first batch of health wine", Hainan Coconut Island has also been brilliant. Data show that from 2000 to 2006, the operating income of Hainan Coconut Island has always maintained growth. Not only that, the company also set a sales record of 1.605 billion yuan in revenue and 196 million yuan in net profit in 2010. However, since 2012, the net profit of Hainan Coconut Island has been declining year by year. In 2016 and 2017, losses have occurred for two consecutive years. The Shanghai Stock Exchange implemented the delisting risk warning (*ST).

Hainan Coconut Island's net profit change trend since 2012, Zhongxin Jingwei Yan Shuxin's drawing

2018 is a crucial year for Hainan Coconut Island, which has already been “wearing stars and wearing caps”. If the company's 2018 audited net profit continues to be negative, it will face the risk of being suspended from listing. However, as of the end of the third quarter of this year, Hainan Coconut Island still failed to get rid of the loss. Hainan Coconut Island released data on the evening of October 29th. From January to September 2018, the company achieved operating income of 348 million yuan, down 49.56% year-on-year; net profit attributable to shareholders of listed companies was -1.63 billion yuan, year-on-year. The decline was 4843.68%.

In the case of unsatisfactory business performance, Hainan Coconut Island put hope on the sale of assets. Hainan Coconut Island said that the 60% equity of Sunshine Real Estate Co., Ltd. and the transfer of Coconut Island Complex will help improve the company's financial position. At the same time, Hainan Coconut Island mentioned that the proceeds from asset transfer will mainly be used to supplement the company's working capital and support the development of the company's main business.

  Chinese foodindustryAnalystZhu Danpeng pointed out that the sale of assets in Hainan Coconut Island is equivalent to the broken arm to stop bleeding. "In the state of continuous decline in performance, only profit can be guaranteed."

Onefood and drinkIndustry analysts also mentioned in an interview with Zhongxin Jingwei client that Hainan Coconut Island’s sale of its headquarters building and its subsidiaries’ shares will help the company “protect the shell” to a certain extent. However, the analyst believes that this move does not solve the company's fundamental problems.

“The reason for the continued loss of Hainan Coconut Island is that its operation has gone wrong. The company lacks a mature product development and marketing system, and relies on a single commodity and advertising investment for a long time, unable to cope with the flexible and volatile market demand. Hainan Coconut Island wants to 'self-help ', have to start from the company's own business, selling assets can only be effective for a while, not sustainable." The analyst said.

(Article source: Zhongxin Jingwei)

                (Editor: DF376)

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