Performance growth returns shareholders
Although 2008 is the adjustment period of the real estate market, thunis Science and Technology Innovation Investment Co., Ltd. has delivered a beautiful answer sheet. The annual report shows that Ziguang Science and Technology Innovation Investment Co., Ltd. achieved an operating income of 3.479 billion yuan in 2008, an increase of 665,438+0% over the previous year; The total operating profit was 767 million yuan, an increase of 77% over the previous year; The net profit attributable to the owners of the parent company was 65 1 billion yuan, an increase of 79% over the previous year; Earnings per share is 0.88 yuan.
In terms of profit distribution, Ziguang Technology Innovation Investment Co., Ltd. plans to pay cash dividends in essence, instead of share split. According to reports, the company plans to distribute a cash dividend of 65,438+0.65,438+00 yuan (including tax) and a cash dividend of 89.86 million yuan (including tax) to all shareholders.
Looking at the situation in recent years, whether in absolute amount or relative proportion, the cash dividend plan of Ziguang Technology Innovation Investment Co., Ltd. reached the highest level in 2008, and the cash dividend amount accounted for 23% of the net profit of that year. The cash dividends in 2005 and 2007 were 26 million yuan and 3 1.3 million yuan respectively, accounting for 19% and 8.7% of the net profit of that year respectively.
Objectively, the substantial increase in performance has undoubtedly stabilized the worries of investors, creditors and many other stakeholders about the expected decline of the industry. In May 2008, Ziguang Technology Innovation Investment Co., Ltd. completed the rights issue operation, raising 2.6 billion yuan, and the subscription ratio was 98%; Meanwhile, thunis Science and Technology Innovation Investment Co., Ltd. raised 4 billion yuan through bank loans in 2008. In the situation that real estate enterprises are generally faced with difficulties in raising funds and the shortage of funds caused by tight monetary policy, thunis Science and Technology Innovation Investment Co., Ltd. not only alleviated the shortage of funds through direct and indirect financing, but also enhanced the strength and competitiveness of the company and created conditions for its own expansion.
Take advantage of industry crisis to merge.
Thunis Science and Technology Innovation Investment Co., Ltd., which has huge funds, began to acquire and expand land in other provinces and cities through mergers and acquisitions in 2008. This is in sharp contrast to the "conservative" operation in 2007.
According to the annual report, Ziguang Technology Innovation Investment Co., Ltd. did not participate in a high-priced land auction in 2007 when the real estate market was "overheated", high-priced land acquisition and residential transaction volume and price rose simultaneously. Adhere to the agreed acquisition, and obtain the land reserve at a reasonable price by relatively loose and flexible payment methods. In 2008, when the market was in a downturn, the company turned the "crisis" into an "opportunity", seized the opportunity of a sharp drop in the land market price, steadily increased the land reserve according to the company's capital balance, stepped out of Zhuhai and Zhongshan markets in one fell swoop, entered Baotou and Dalian, and made a breakthrough in expansion in different places.
Ziguang Science and Technology Innovation Investment Co., Ltd. added about 668,000 square meters of land in 2008. By the end of 2008, the total planned construction area of projects under construction and land reserve projects exceeded 5 million square meters, which laid a solid foundation for the company's sustained and steady development and performance growth in the next three to five years.
In fact, in the stage of deep adjustment of the real estate industry, it is a good opportunity for enterprise expansion. At this time, housing prices in some areas fell, sales declined, and buyers held a wait-and-see attitude. Real estate enterprises are facing the double pressure of performance and capital, especially small and medium-sized real estate enterprises that have poor financing channels and bought land at high prices in recent years. In this context, as far as the merger and acquisition of project companies is concerned, large companies with abundant funds and small and medium-sized real estate enterprises with great pressure can often reach an agreement and get what they need, which is conducive to their respective development.
The case of M&A expansion of thunis Science and Technology Innovation Investment Co., Ltd. reveals a win-win arrangement that is also worth learning from. On June 6, 2009, thunis Science and Technology Innovation Investment Co., Ltd. announced that the board of directors passed the Proposal on Acquisition of 80% Equity of Real Estate Development Co., Ltd., and the acquisition target was 70% equity of Real Estate Development Co., Ltd. owned by Senlei Real Estate Co., Ltd. (hereinafter referred to as "Senlei Company") and its major shareholder Sun Jisheng's Hua Teng 10% equity. The main assets of Dalian Hua Teng are two plots of land for real estate projects, which are planned for residential and commercial purposes. According to Ziguang Science and Technology Innovation Investment Co., Ltd., this investment is to implement the company's strategy of facing the whole country and moderately exploring foreign markets, seize market opportunities to acquire foreign land reserves and development projects, and seek new profit growth points for the company. It should be emphasized that this acquisition is also of great significance to the original shareholder company.
First of all, it has obtained a huge amount of cash, or solved its own liquidity problem, or realized its own income. This is manifested in the equity transfer of 6.4 million yuan and the provision of loans to shareholders of 289 million yuan. Secondly, it eased the performance and financial pressure of the original major shareholders and management development projects. As far as real estate projects are concerned, land acquisition is only the first step, and subsequent fund raising and actual development are more important. The results of asset evaluation show that the asset-liability ratio is as high as 96%, and the capital pressure can be imagined. Third, the former major shareholders can still share some achievements of future project development. After the equity transfer and repayment of the corresponding shareholder's loan, the company still holds 20% equity; Ziguang Technology Innovation Investment Co., Ltd. holds 80% of the shares.