Changjiang Business Daily News
● Changjiang Commercial Daily reporter Cai Jia
Shortly after holding the securities license license license license license, the compass (300803.SZ) started to supplement the capital of the capital securities through equity financing.
On the evening of May 16, the compass disclosed the fixed increase plan. The company intends to issue a non -public offering of not more than 35 specific objects, and the total amount of funds raised does not exceed 3 billion yuan, all of which are used to increase the capital securities of the wholly -owned subsidiary of the capital increase.
In February this year, the compass was determined to be bankruptcy and reorganization investors of the Internet Securities. Since then, the reorganization plan was released. As a reorganization investor, the compass will invest 1.5 billion yuan in reorganization investment funds for online information securities debt claims, and obtain 100%equity of post -information securities after reorganization. Last month, the China Securities Regulatory Commission approved the compass to become the main shareholder qualification of online information securities.
The acquisition of online information securities by the compass is regarded as the second “Oriental Fortune” replication path by the market. But there are still many problems to be solved to be the second Oriental wealth. Among them, the compass will not only add 1.239 billion yuan in goodwill after the merger of network information, accounting for about 80%of the company’s net assets at the end of the first quarter. And because the online information securities have been funded, the completion of the reorganization is only the first step to return to the right track.
In particular, the securities industry is the capital -dense industry. As a compass of the parent company of the Internet information securities, its own capital capacity is also the key to maximizing the integration effect. As of the end of the first quarter of this year, the total assets of the compass were 2.658 billion yuan and the currency funds were 1.794 billion yuan. As of the end of 2021, the total assets of online information securities were 868 million yuan, and the owner’s equity was -4133 million yuan.
Major shareholders’ qualifications have been approved by the CSRC
The reorganization of online information securities has entered a critical stage.
In February this year, after public recruitment and selection, the compass was finalized as a reorganization investor in the Internet Securities, and began to promote the signing of the signing of the investment agreement and the draft reorganization plan formulation.
One month later, the draft of the compass to the reorganization plan of the Internet Securities was finally announced to the outside world. According to the plan, the equity of the investor and interests of the investor of the original entrepreneurial group, Shengjing Golden Control and Hengxin Leasing will be adjusted to zero in the online information securities. Credit securities debt claims and obtained 100%equity of post -online information securities.
Until April 29, the compass was approved by the regulatory needle, and the China Securities Regulatory Commission approved the company to become the main shareholder of the Internet Securities. On the same day, in accordance with the application of the online information securities manager, Shenyang Central Court ruled that the reorganization plan was approved and the reorganization procedure of the online information securities limited liability company was terminated.
The latest announcement shows that the follow -up work of the guidelines is actively promoting the reorganization of online information securities, and it is expected to complete the change of industrial and commercial registration in the near future.
The reporter from the Yangtze River Business Daily noticed that the acquisition of online information securities has been regarded as the second “Oriental Wealth” by the market. Oriental Fortune acquired 70%of Tongxin Securities in 2015 and obtained a franchise license license. The compass, which is also an old domestic financial information service manufacturer, acquired online information securities as the most direct way for it to win the securities trading license. The acquisition is completed, and the compass will also become the second Internet company in China with securities trading licenses.
With reference to Oriental Wealth, in the years after winning the securities trading license, Oriental Wealth has achieved a qualitative leap. Not only the operating income and net profit increased from 612 million in 2014, 166 million to 13.094 billion and 8.553 billion in 2021, and the number of brokerage business customers increased from 830,000 households at the end of 2015 to 1.49 million.
With Oriental Wealth as a precedent, Huaxi Securities analysis believes that future compass will be pushed to network information securities to diversize customers and gradually increase capital. The company’s brokerage business and two -financing business are expected to develop rapidly. In addition, as a cash cow business, the company’s cash flow status will continue to improve.
However, the financial difficulties of the current Internet information securities are still a problem that the compass needs to face. Data show that in 2020 and 2021, Internet information securities realized operating income of 51.6917 million yuan, 46.252 million yuan, net profit-611.792 million yuan, and -508 billion yuan. As of the end of each report, the total assets of the Internet Securities Securities were 705 million yuan and 868 million yuan, and the owner’s equity was -3.627 billion yuan and -4133 million yuan, respectively.
According to estimates, after the investment payment of 1.5 billion yuan in the compass is in place, in 2020 and at the end of 2021, the ownership of the Internet Credit Securities will return to the right, respectively, 314 million yuan and 261 million yuan, respectively.
Or an increase of 1.24 billion goodwill still has a large demand for funds
Completing reorganization is just the first step to return to the right track. Due to the stagnation of online information securities for many years, various businesses need to consolidate the foundation, and the capital of the post -reding securities securities is still weak, and the risk resistance ability directly determined by capital strength still needs to be strengthened.
For the current compass, the ability of its own capital capacity is also the key to maximizing the integration effect. Data show that in 2021, the compass achieved operating income of 932 million yuan, an increase of 34.63%year -on -year; net profit was 176 million yuan, a year -on -year increase of 97.51%. In the first quarter of this year, the compass achieved operating income of 623 million yuan, an increase of 89.51%year -on -year, and a net profit of 267 million yuan, an increase of 176.5%year -on -year.
According to the restructuring plan, after the completion of the acquisition of online information securities, the compass merger statement was preliminarily calculated as 1.239 billion yuan due to the goodwill formed by this transaction, accounting for the company’s total assets and net assets at the end of September 2021, respectively as high as 60.56%and 96.65 %.
As of the end of the first quarter of this year, the total assets of the compass were 2.658 billion yuan and net assets were 1.551 billion yuan. The newly added goodwill accounts for about 80%of the company’s net assets.
At the same time, as of the end of the first quarter of this year, the asset -liability ratio of the compass was 41.64%, and the book currency funds were 1.794 billion yuan. However, with the parallel table of online information securities, the future funding needs of the compass will further increase, and there will be sufficient funds as support.
Equity financing is the main measure of the compass to solve the problem of funding. On the evening of May 16, the compass disclosed the fixed increase plan. The company intends to issue a non -public offering of not more than 35 specific objects, and the total amount of funds raised does not exceed 3 billion yuan, all of which are used to increase the capital securities of the wholly -owned subsidiary of the capital increase.
The compass further stated that this raised funds will help online information securities to completely get rid of historical operating difficulties, and help the company build online information securities as “a well -known financial service provider driven by financial technology and wealth management”. The beautiful vision helps the development of online information securities into securities companies with sound governance, standardized management, prominent business, compliance, and good risk control, and help online information securities to better serve the Liaoning economy and serve the country’s northeast revitalization strategy Essence