It's not Yonghui, it's not JD.com, it's this company!After several days of waiting, the "Cao Xianxian" who has attracted much attention from the outside world has made substantial progress in the transfer of control of the Hongqi chain (002697), Sichuan Commercial Investment Group Co., Ltd. (hereinafter referred to as Sichuan Commercial Investment Group) Sichuan Commercial Investment Investment Co., Ltd. (hereinafter referred to as Commercial Investment Investment), a subsidiary of Sichuan Commercial Investment Group Co., Ltd. (hereinafter referred to as Sichuan Commercial Investment Group), will take over the control of Hongqi Chain, and the company will resume trading on December 21.
Today, Hongqi chain is a well-known convenience chain leading enterprise in Sichuan, and as the new owner in the future, what kind of enterprise is Sichuan Commercial Investment Group?Sichuan Commercial Investment will become the controlling shareholder
As the founder, Cao Shiru has always been the golden sign of Hongqi Chain, and she has naturally made great contributions to the development of listed companies. Up to now, Cao Shiru holds 32.7 billion shares, accounting for 24 percent of the company's total share capital08%, which is the actual controller of Hongqi Chain;Cao Zengjun, the son of Cao Shiru, holds 48.28 million shares of Hongqi Chain, accounting for 3% of the company's total share capital55%, and the two are acting in concert. In recent days, the news that Cao Shiru ceded control of the Hongqi chain has been swiped in the local ** circle in Chengdu, and all walks of life have speculated who will be the future "master" of the Hongqi chain. On the evening of December 20, Hongqi Chain officially issued an announcement to reveal the "new owner" of Hongqi Chain for the outside world. According to the announcement, Hongqi Chain received a notice from Cao Shiru, the actual controller, Cao Zengjun, and Cao Zengjun, the second largest shareholder, and Yonghui Supermarket (601933), the second largest shareholder, that in order to achieve the long-term development of the company, Cao Shiru, Cao Zengjun and Yonghui Supermarket and Commercial Investment signed the "Share Transfer Agreement" on December 20, stipulating that the three would hold a total of Hongqi Chain 2300 million shares (accounting for 1691%), which was transferred to the commercial investment investment of Sichuan Commercial Investment Group by way of agreement transfer, and the transfer **588 yuan shares, with a total amount of 135.2 billion yuan. On the same day, Commercial Investment Investment has signed the "Voting Rights Waiver Agreement" with Cao Shiru and Cao Zengjun, and the two promised to give up the remaining 28.2 billion shares (20.2 billion shares of the total share capital of Hongqi Chain.)72%). After the completion of this equity change, the commercial investment investment will be able to effectively control the Hongqi chain 2The voting rights of 300,000,000,000 shares account for 21 of the total number of voting shares of Hongqi Chain32%, Commercial Investment became the new controlling shareholder of Hongqi Chain, and Sichuan State-owned Assets Supervision and Administration Commission became the new actual controller of the company. After the completion of the first equity change mentioned above, Commercial Investment also intends to agree with Cao Shiru and Cao Zengjun that after the transfer restriction of their shares is lifted, the second share transfer will be carried out and transferred518% stake;If the two agreements are successfully completed, the commercial investment investment will hold a total of 2209% of the shares and the corresponding voting rights. At that time, Commercial Investment Investment will hold more than 300 million shares of Hongqi Chain, with a shareholding ratio of 2209%, becoming the largest shareholder of the listed company;Cao Shiru and Cao Zengjun will hold a total of 21.1 billion shares, with a shareholding ratio of 1554%;Yonghui Supermarket's shareholding shrunk, from 21% to 11%. The relevant agreement stipulates that after the completion of the transfer registration procedures for the relevant shares of Hongqi Chain, in view of Cao Shiru's excellent corporate management ability and excellent team leadership, in order to maintain the stable operation of the listed company and protect the interests of all shareholders, the parties to the transaction agree to continue to appoint Cao Shiru as a director of Hongqi Chain and serve as the chairman and general manager. At the same time, the board of directors of Hongqi Chain will have 9 directors (3 independent directors), of which 4 non-independent directors and 3 independent directors will be entitled to the nomination of a total of 7 directorsIn the board of supervisors, Shangtou Investment shall nominate at least one shareholder representative supervisor and serve as the chairman of the board of supervisorsIn addition, Commercial Investment will recommend candidates for deputy general manager, financial director and secretary of the board of directors of Hongqi Chain. Commitment to the main business net profit is not less than 2300 million yuan
Since its establishment in 2000, Hongqi Chain has more than 3,600 directly-operated stores, covering the streets and alleys of ChengduIn particular, in the more than 10 years since its listing in 2012, the Hongqi chain has increased its number of stores by about 2,600, and a new convenience store has opened almost every working day. Hongqi chain store layout to Chengdu as the center to the surrounding areas radiation, now has Xihe, Wenjiang two large logistics distribution centers, more than 3,600 stores of the vast majority of goods are unified procurement, unified price, unified distribution mode, strict control of the quality of goods, to ensure that the source of goods can be traced, quality control. In addition to the convenience store business, Hongqi Chain focuses on the differentiated competition strategy of "goods + services", and has opened more than 80 convenient services such as water and electricity fee collection, train ticket sales, and welfare lottery sales. It should be pointed out that in this equity transfer, Commercial Investment Investment also intends to sign the "Performance Commitment Agreement" with Cao Shiru and Cao Zengjun, stipulating that from 2024 to 2026, Hongqi Chain will deduct non-net profit after auditing, and after deducting the amount of investment income, it will not be less than 2 per year300 million yuanAccording to the third quarterly report, from January to September 2023, the performance of Hongqi chain maintained a steady growth trend. The third quarterly report shows that Hongqi Chain achieved 76% of commodity operating income in the first three quarters400 million yuan, a year-on-year increase of 089%;Achieved a net profit of 40.7 billion yuan, a year-on-year increase of 1399%;Net profit after deducting non-profit 38.7 billion yuan, a year-on-year increase of 1509%;From the perspective of the third quarter alone, Hongqi Chain achieved a net profit of 1500 million yuan, a year-on-year increase of 1194%, compared to 1With a net profit of 1.5 billion yuan, the company's net profit in the third quarter increased significantly from the previous quarter. From this point of view, it is not difficult for Hongqi Chain to complete the VAM agreement between Cao Shiru and Commercial Investment Investment, but it is full of sincerity. It is reported that after the completion of the acquisition, the commercial investment will maintain the stability of the original management team as much as possible, reduce the impact of the change of actual controller, and create more conditions for the company's development as much as possible. Of course, Hongqi chain also faces multiple business risks, such as the cliché problem of online sales seizing the market share of offline physical retail. In this regard, Hongqi Chain said that it will actively develop online social e-commerce, live e-commerce, home e-commerce and community**, etc., and rely on differentiated operations to quickly reap market dividends. In recent years, the trend of live streaming has surged, and consumers' shopping methods have been further diversified. In this context, Hongqi Chain is also actively developing its online business, and will try to explore the layout of the live streaming business in 2023. It is reported that the official Douyin live broadcast room of the Hongqi chain was officially launched on June 16 this year, and Cao Shiru personally went into battle to do the first live broadcast. Initially, Cao Shiru set a sales target of 30 million yuan for the first live broadcast, but this live broadcast brought more than 60 million yuan in sales revenue to the Hongqi chain, which far exceeded expectations. The data shows that several live broadcasts of Hongqi chain in June have achieved hundreds of millions of yuan in sales revenue. "Cao Xianxian" still operates the Hongqi chain
As the buyer, the strength behind the commercial investment should not be underestimated, Sichuan Commercial Investment Group is a provincial state-owned large-scale backbone enterprise approved by the people of Sichuan Province, is the first newly established state-owned capital investment company in the province, and the only modern first-chain integrated service investment and operation platform. Tracing back, Sichuan Commercial Investment Group, formerly known as Sichuan Commercial Group, was established in June 1996 by the institutional reform of the Department of Commerce. After 2014, Sichuan Province ** Sichuan Business Group, Grain and Oil Group, Material Group, Logistics Co., Ltd., Foreign Trade Group, Changjiang Group and other 6 enterprises were integrated twice to form a commercial investment group, which fired the "first shot" of the restructuring and integration of state-owned enterprises in Sichuan Province. According to the official website of Sichuan Commercial Investment Group, the group now has a registered capital of 10 billion yuan and 11 secondary subsidiaries, based on the strategic goal of building a "national first-class modern first-class chain integrated service investment and operation group". At present, Sichuan Commercial Investment Group has a series of enterprises and product brands such as Sichuan Grain and Oil, Sichuan Rural Development, Sichuan Traditional Chinese Medicine, Sichuan Logistics, Sichuan Foreign Trade, Sichuan Sugar and Liquor, Sichuan Liquor Chain, Old Kitchen, Sichuan Cooking and Shuhuatang, and operates China (Sichuan) International ** "Single Window", Digital Commerce Xingnong, Chuanliu Tianxia and other digital first-chain service platforms. In view of the acquisition of control of the Hongqi chain, Sichuan Rural Development Group (hereinafter referred to as the Provincial Rural Development Group) is the leading hand, which is a wholly-owned subsidiary of Sichuan Commercial Investment Group and holds 100% equity of Commercial Investment Investment. According to the data of Qichacha, the Provincial Township Development Group was established on December 18, 2021, launched reform and reorganization in January 2022, and started business restructuring in August 2022, and has completed the first round of strategic restructuring and professional integration at this stage. It is reported that the Provincial Rural Development Group has now been listed as an advanced collective in the "Three-year Reform Action" of the province's state-owned assets system, and has built independent brands such as "Daoxiang Yuge", "Shuguanghui Digital Consumption Platform", "Rural Financial Huimin Service System", "Digital Market for Agricultural Products Assistance" and "Huahua and Fruit Products", and the strategic investment of Tianye Shares (832023) has been successfully listed on the Beijing Stock Exchange, with a revenue of more than 10 billion yuan in 2023. After the announcement of Cao Shiru's transfer of control of the Hongqi chain last week, many people in the society paid attention to it. On the evening of December 20, after the disclosure of the latest announcement of the Hongqi chain, the ** Times reporter quickly contacted the Sichuan Commercial Investment Group, and the relevant people of the group responded in detail to some of the hot topics in the market. First of all, in response to the rumors that the actual controller of the Hongqi chain left the market, the relevant people of Sichuan Commercial Investment Group gave a clear denial: "This statement is pure nonsense, after the completion of the equity transaction, Chairman Cao Shiru still holds 15 Hongqi chain."With a 54% share ratio, it is also the second largest shareholder of the listed company, and continues to serve as the chairman of the board of directors. In this regard, Cao Shiru also told reporters that the transfer of control of the Hongqi chain is a good thing for the Hongqi chain, which is conducive to the development of the Hongqi chain to a more stable, high-quality and efficient path, so that the red flag of state-owned assets holding is flying high on the land of Sichuan and Shu. Cao Shiru believes that Hongqi Chain will develop better, and she herself will not retire, and will continue to promote the development of Hongqi Chain. Sichuan Commercial Investment: Strong alliance to protect people's livelihood and promote the economy
So, what does such a large state-owned enterprise fancy about the Hongqi chain?A relevant person from Sichuan Commercial Investment Group told the **Times reporter that the transaction is not a simple purchase and sale of equity, but is based on higher-level strategic considerations. As a provincial state-owned platform, the commercial investment group shoulders the corporate mission of "protecting people's livelihood, promoting consumption, leading opening up, and serving the industry", and Hongqi chain is also a "key contact enterprise for emergency supply of important daily necessities" in Sichuan Province and Chengdu City. He particularly emphasized that at present, Sichuan Commercial Investment Group is striving to promote the emergency supply of daily necessities to strengthen the chain project, the county commercial circulation strong chain project, the foreign trade state-owned enterprise pilot strong chain project, bulk commodity integration service strong chain project, "Sichuan brand" brand cultivation project and other "five strong chain projects", through this acquisition, the commercial investment group will have the largest chain operation, logistics and distribution, E-commerce as one of the commercial chain high-quality listed enterprises, can effectively help the commercial investment group five strong chain project strategy landing, and at the same time support the Hongqi chain to build a key leading enterprise in the supply of daily necessities. From the perspective of operation, the merger and acquisition will open up the "two channels" in both directions, one is to open up the market channel for the commercial investment group to support the Hongqi chain to become stronger and bigger, and the commercial investment group will make full use of its own development advantages in Chengdu, Yibin, Zigong, Dazhou and other key cities in the province and in foreign trade, sugar and wine, grain, agricultural and sideline products and prefabricated vegetables, etc., to expand the Hongqi chain product category and market share;The second is to open up the capital channel of Hongqi chain listed companies to provide a favorable capital platform for the development of enterprises. In addition, the above-mentioned person said that the acquisition is in line with the overall policy of deepening the reform of state-owned enterprises and accelerating the process of assetization. From the perspective of the commercial investment group, it can rely on its own commercial circulation advantages to comprehensively improve the first-chain integration service capability and the core competitiveness of the enterprise, and help the commercial investment group to lay out in the capital market. He further pointed out that the acquisition of control of Hongqi Chain is in line with the development strategy of Sichuan Commercial Investment Group and the interests of all shareholders of Hongqi Chain, and the two sides hit it off.
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