It is reported, the group of the United States listed assets include small home appliances business, electric business and logistics business, the market for many years in small home appliances business is the focus of. In 2012, the group of the United States total operating income of 102700000000, operating profit 7000000000, net profit of 6140000000, net assets yield 24%. The beauty of the small household business income of 25800000000, is the most complete China's small household electrical appliances group, over the years is absolutely leading domestic small household electrical appliance industry, many product market share of long-term in the absolute leading, and has the advantage of powerful channels and R & D, can quickly seize market opportunities and achieve the leading.
The United States and the electrical tonight announced, Midea Group intends to realize the overall listing of convertible to absorb electrical appliances with beauty. The group of the United States to issue A shares, convertible absorption merger of beauty appliances. The United States and the electrical corporation qualification will be canceled, the group of the United States as a Surviving Company.
Plan shows, beautiful group of the issue price of 44.56 yuan / share. The United States and the electrical conversion price of 15.96 yuan / share, with the announcement day trading price of 9.46 yuan / share as a benchmark, a premium of 68.71%. Exchange ratio is 0.3582:1, namely the electric company for every 1 shares for 0.3582 shares of beauty beauty group issued shares.
Analysis of the country gold negotiable securities chief appliance researcher Wang Xiaoying, beautiful group of the convertible absorption merger of beauty appliances, electrical conversion price of 15.96 yuan, the price premium of nearly 70%, fully consider the interests of shareholders. At the same time, by increasing the technology quality input and product innovation, strengthen the implementation of "inventory" strategy, the future profitability significantly enhanced. Such as "a night electricity" full DC inverter air conditioner products, automatic on the washing machine, IH intelligent electric rice cooker, steamed cubic high margin products accounted for continuous improvement, profitability continued to increase.
Released 2012 annual report showed the United States and the electrical, achieve revenue 68100000000, attributable to shareholders of the parent company net profit of 3500000000. Gross margin significantly improve, enhance profitability, comprehensive annual gross margin of 23%, up 4 percentage points; full-year operating profit rate of nearly 7%, up 1.6 percentage points.
The United States has A shares as the Blue-chip company, pay attention to the interests of small shareholders, since listing annual cash dividend, following the 2011 sent every 10 shares is 4.5 yuan total dividend after 1500000000, 2012 continue to increase the proportion of cash dividends, sent every 10 shares is 6 yuan total dividend ultra 2000000000, ultra 6% dividend yield. In addition, the group of the United States after the listing, will continue the past tradition, pay attention to earnings and shareholder returns, continue to increase the dividend payout ratio, three years annual cash dividend of no less than the profit distribution 1/3. Believe, either from the investment value or from the industry point of view, the group of the United States should receive capital market pursued. |
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