Rare is the right time restructuring transformation

Suspended 5 months Yinrun investment resumption in August 28 , announced a major asset restructuring plan , the proposed addition to its own outside Haifa Building an entire assets and liabilities carried Chenguang Rare Earths 100% shares equivalent asset replacement , to be set out by the morning light rare earth assets Huang Ping actual control or its designated third party to undertake ; and simultaneously to 9.40 yuan / share purchase price of shares issued to the latter intends to set out the difference between the value of assets . Replacement of assets and shares of both inter-conditional , simultaneously , indivisible . After the transaction, the actual controller will change to yellow square . Yinrun investment turned into rare earth metal smelting industry enterprises.

Main Yinrun investment property leasing, property management, disposal of investment property , from 2010 to 2012 net profit was 7.032 million yuan , 4.4513 million yuan and 3.6886 million yuan , the transformation will be completely reversed its principal business continuity profitability shortfalls. After the announcement on the market in two consecutive daily limit.

Favorable policies continue , the transition of rare earth right time

Since 2009 , China 's rare earth industry continues to control as well as significant growth in downstream demand , rare earth prices soaring , the data show rare earth prices from early 2011 has experienced a rapid rise , with the gradual implementation of the policy and the Chinese industry consolidation expected continuous , low-cost era has gone earth .

Located in Ganzhou Chenguang Rare Earths region, which is an important domestic rare earth production base in the country and the world have a decisive influence. Our company is a professional production of various rare earth oxides , rare earth metals , mixed rare earth metals, rare earth alloys and rare earth magnetics and other products supporting industrial enterprises, with a collection of rare earth " Separation ---- smelting ---- Applications --- recycling "as one of the more complete industrial chain , is currently smelting , separation , one of the most technologically advanced .

Chenguang Rare Earth once had hoped that through the IPO market, after 2012 has also proposed backdoor S Shun Yuan , when the dawn of rare earth assessed value was as high as 3.34 billion yuan , and now its valuation less than the last four. According to the plan disclosed Chenguang Rare Earths 2011 , 2012 and the first half of the unaudited net profit was 606 million yuan , 81.19 million yuan and 24 million yuan . Chenguang net profit of rare earth prices hit historic highs in 2011 , can be said Yinrun investment picked up cheap at the bottom , the current policy environment of rare earth is changing constantly positive .

First , the recent joint Ministry of Public Security, Ministry of Land and other eight ministries issued "on the organization in the fight against rare earth mining , production, circulation of illegal acts of the special action letter," announced Aug. 15 to commence a period of three months combating rare earth mining , production, circulation of illegal special action . On earth " black chain " is expected to obtain effective remediation expected rapid warming .

Huatai Securities ( 601,688 , stock it ) considers that the verification scope, duration and manner were slightly more than expected , the effect will be better than the previous , from the quantity , the price of rare earth industry, both positive : one is that the amount of reduction of private mine supply, strengthen the leading enterprise supply control ; two that price , lifting costs for the industry line, to provide support for the rare earth prices .

Secondly, according to Gu Ming , general manager of Baotou Rare Earth Stock Exchange on August 9 at the "Fifth China ? Baotou Rare Earth Forum" presentation, dilute Exchange has completed the simulation platform structures , recruitment, training in practical operation , it is expected the fastest can be put into operation in October . Huatai Securities believes that the exchange of operational rare earth , rare earth price stability is expected to strengthen .

Smooth restructuring ?

Is worth noting that last year in April Chenguang Rare Earths and S- Shun Yuan restructuring agreement signed , plans backdoor S Shun Yuan visit the capital market , but because S Shun Yuan shareholders' meeting failed to pass the restructuring plan, restructuring Chenguang Rare Earths therefore nolle cooperation . The two sides are still under suspension of cooperation matters in arbitration .

August 29 S Shun Yuangong reports, with Chenguang Rare Earths "letter of intent " clearly agreed on the dawn of rare earth and Huang Ping, not with any other third parties to restructure exclusivity clause ; right Chenguang Rare Earths in hand with Yinrun investment expressed doubts .

Moreover , even after the general meeting and the Commission layers of approval , Yinrun investment and restructuring Chenguang Rare Earths smooth cloth we'll see.


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