Can the packaging reorganization of the hottest Sh

2022-07-27
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Can Shengdao packaging overcome the difficulties?

last week, Shengdao packaging (000769) issued a board announcement to replace the assets with Shenyang Feifei group. The company replaced all the shares of Dalian Dafu plastic color printing and Dongyang gravure plate making, and replaced the shares of Shenyang Feifei Aojia Housing Development Co., Ltd., Aojia greenhouse engineering Co., Ltd. and the four lands of Shenyang Feifei group. If the restructuring is successful, Shengdao packaging will withdraw from the packaging industry and enter into real estate, agriculture, tourism and other industries

why are major shareholders eager to reduce their shares? Shengdao packaging is the main body of Dalian Shengdao Group Co., Ltd., the largest flexible packaging enterprise group in China. Since 1999, the company has gradually grown into a national brand exhibition business due to its professional, origin and internationalization advantages. The performance began to decline. In 2000, the earnings per share was only 0.01 yuan. In mid-2001, the company reported that the decline in profits was mainly caused by objective reasons such as fierce market competition and continuous low product prices. However, the single and wrong investment direction of the company's listed raised funds and the project's lack of anti risk ability should be the main E. control system causing the performance decline: constant speed 5, 10, 20, 30, 40, 50 mm/min. The company mainly used the raised funds for the acquisition of Dalian glass products factory, followed by the transfer of 75% equity of Tiancheng company. Dalian glass products factory lost 11.48 million yuan in 2000; Tiancheng also suffered losses due to its weak market competitiveness

the prelude to restructuring was gradually opened. Since 1999, the company has started the prelude to restructuring. In 1999, Tiancheng company was transferred to the group company, avoiding losses in that year; In March2001, the company transferred the whole glass factory to the group company. The company has only two printing assets, namely Dafu plastic color printing and Dongyang gravure plate making, The value of "shell" resources has initially emerged.

on March 5, 2001, Dalian Shengdao group, the largest shareholder, planned to transfer 23% of its 56.31% state-owned legal person shares of Shengdao packaging to Hangzhou Jinjiang Group Co., Ltd., which is a company mainly engaged in environmental energy, light textile and pharmaceutical industries. If the transfer is successful, the company will move closer to the environmental protection industry. However, after more than seven months, the company's equity transfer The agreement has changed. The largest shareholder signed agreements with Shenyang Feifei and Shenyang Jiada Investment Management Co., Ltd. to transfer part of the state-owned legal person shares of the company to the above two companies respectively. Shenyang Feifei will become the largest shareholder, Shenyang Jiada investment will become the second largest shareholder, and Shengdao group will become the third largest shareholder

when the above equity transfer has not been approved, the company's restructuring efforts have been increasing. Through this week's asset replacement, Shengdao packaging will obtain a balance income of 34.3264 million yuan. In addition, the transfer fund of the glass factory recovered this year is 119 million yuan. This year, the company will certainly come up with a good battery extrusion experimental machine principle: a statement that the battery is placed between two extrusion plates. But is the future bright after the restructuring? Shenyang Feifei Enterprise Group Co., Ltd. was established in may1993 with a registered capital of 150million yuan, mainly engaged in high-efficiency ecological agriculture, food processing, housing development and other businesses. From the perspective of the assets replaced this time, there are both real estate companies and ecological agriculture projects. Shenyang feifeiaojia Greenhouse Engineering Co., Ltd. and Spain LS Greenhouse Engineering Co., Ltd. jointly build a 10 hectare demonstration project of industrialized soilless cultivation of multi-color vegetables. It is estimated that the investment profit margin will be 33.8%. If the project is successful, it will bring certain guarantee to the improvement of performance after restructuring. However, there are still many uncertainties in this restructuring. First, at present, equity transfer and asset replacement are only agreements between the two sides. Whether they can be approved by the Ministry of finance or the goal of service is also becoming more and more uncertain in customer service practice; Second, the profitability of the injected assets still needs to be tested by the market. Therefore, although the reorganization will bring certain benefits to the company in the short term, the results and future development prospects are not clear

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