Monthly Archives: November 2018

Orange Sky Golden Harvest (01132) – Connected Transaction with Serious Damage (I)

For small shareholders, the injection of major shareholders into Jiangyin’s commercial property is tantamount to the flood of beasts and the value of Orange Sky Golden Harvest.

The value of Orange Tianhe is originally easy to calculate:

Holding 100% of the Singapore cinema business, it earns more than 100 million yuan in profit every year, with a market value of more than 2 billion Hong Kong dollars;

Holding 35.7% of Taiwan Weixiu Cinema Line, the operating profit of the previous year was 30 million yuan;

The wholly-owned Hong Kong cinema line had a profit of 23 million yuan in the previous year.
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Financial performances sing the best of Orange Sky Golden Harvest (01132)

Before I finally checked the connected transactions of Orange Sky Golden Harvest, I suddenly saw some financial performances and I played against Taiwan in the past few days. I successively sang a good deal for Orange Sky Golden Harvest (01132), and I googled and could not find such a fortune. The comments or articles that have been followed up in this stock are the first to introduce Orange Sky Golden Harvest, and they sing well connected transactions, what is the motivation?

Smart netizens should guess it. I believe that before the special shareholder meeting on November 23rd to vote on the connected transaction, there will be more financial performances recommending the minority shareholders to agree to the connected transaction of Orange Sky, and the voice of opposition is mainly this blog, I hope that the minority shareholders can Spread the objection to other minority shareholders.

Finally, if Wu Sheng already has enough secret hands and friendly holdings to support the voting of the connected transaction, why do you need to find a financial performance to help sing well?

Small shareholders will work together!

Find the common factors of three stocks

In recent months, three companies have announced connected transactions, including Orange Sky Golden Harvest (01132), Spring REIT (01426) and Yongsheng New Materials (03608). I wonder if you have noticed any commonalities between the three transactions. What is the revelation?

Coincidentally, the acquisitions involved in the three connected transactions are commercial properties of domestic second- and third-tier cities held by major shareholders or connected persons. Among them, Orange Sky Golden Harvest acquired the Jiangyin property held by the major shareholder, and Chunquan acquired the Huizhou property. Shopping malls, while Yongsheng acquired commercial properties in Hangzhou Xiaoshan Development Zone held by major shareholders. The message behind the transaction is that the commercial properties in the second- and third-tier cities in China have entered the cold winter, and the supply is much higher than the demand. The property held by the investors has become a difficult burden. Therefore, it is only impossible to use the listed companies to take over. The baggage is also a way to make a profit. After the announcement of this “stubborn” transaction, the stock prices of the three companies fell immediately, reflecting the consensus of the market.

Of course, although the nature of the transaction is similar, there are some differences. For example, Orange Sky is the full cash payment price, Yongsheng is part of the cash, part of the new shares are paid, and Chunquan is the big discount to pay the new shares to pay the full price.

Fortunately, the three connected transactions must be approved at the general meeting, and the acquisition of Orange Sky and Yongsheng is defined as a connected transaction. Therefore, the major shareholder cannot participate in the voting; the acquisition of Chunquan avoids the connected transaction. All shareholders can participate in the voting. Fortunately, the second largest shareholder PAG has opposed it. Therefore, the three shareholders of the transaction have the ability to veto. The key is that the minority shareholders must exercise their rights, participate in the voting to veto the transaction, and protect their own. Benefits are not eroded, don’t leave it alone, let anyone kill!

PS Chunquan’s transaction is not a connected transaction in name, but I have explained several previous articles about Chunquan. Although it is not a connected transaction in name, it actually has a strong color of connected transactions, so I will be the transaction myself. It is a connected transaction.

Step by Step, Rush to Endure

Hong Kong stocks today showed a strong rebound momentum. Not only large-cap stocks, but also small and medium-sized stocks also performed well. Coupled with the two-day rise in US stocks, we may have a bear market and a bull market. In fact, similar rebounds have occurred several times in the past few months, but after each short-term rebound, we continue to find the bottom. This time I can’t see the exception.

The bottom of the intuition has not yet been seen, but the Hang Seng Index fell 2800 points in October. A slight rebound is a matter of course, so let’s see if it can regain 26,000 points. The strategy is still to rush to endure, will continue to segment the deployment of the bottom, but will not chase after the rebound. If the rebound is in a hurry, it may be reduced to cash, and then buy back.