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Hainan Tourism'S New Ambition Appears Behind The Soaring Of Haiqi Group

2020/8/1 11:49:00 2

BehindHainan Tourism New BrotherAmbition

On July 31, Haiqi group issued an announcement, admitting that the indirect controlling shareholder Hainan tourism investment company had submitted an application for the operation qualification of duty-free products in the outlying islands to the people's Government of Hainan Province, but had not received the written approval documents. The reason for the soaring share price more than a month ago is finally clear.

The indirect investment of Hainan Daqi group, a holding company, has emerged. On July 21, the company invested 500 million yuan to establish Hainan lvtou duty-free products Co., Ltd. to arrange duty-free products business.

A source who did not want to be named disclosed to the 21st century economic report that Hainan tourism investment and Development Co., Ltd. is a state-owned enterprise wholly owned by the Hainan provincial government, and Hainan is striving to obtain the operation qualification of duty-free products for the company. It is said that there has been a breakthrough in license acquisition.

The business map of Hainan tourism investment is not only tax-free business. This Hainan state-owned enterprise with Sanya Vice Mayor Chen Tiejun airborne as the main helmsman intends to develop into a leading tourism enterprise with international competitiveness and demonstration. It is mainly engaged in capital operation and investment and development of eight major sectors, including tourism transportation, hotel operation, tourism shopping, scenic resort, sports and entertainment, cruise and yacht tourism, innovation incubation and tourism finance.

Put on your travel coat

The trend of Haiqi group's stock price in recent one and a half months is amazing.

The stock price of Haiqi group rose by RMB 333.34 in a short period of 11 months. Although during this period, the Shanghai Composite Index rose more than fell less. The index fell in 13 trading days, while the HAIC motor company only fell in 9 trading days, and could rebound quickly after the fall. The whole stock price has been rising rapidly, and the trading volume has continued to expand.

In addition to many other concepts, the stock price can only rise in more than 10 days after duty-free trading, and other stocks can only keep up the trend of more than 10 days of tax-free trading, and other stocks can only keep up the trend of more than 10 days of tax-free trading. However, the shares of Haiqi group even went up and down several times after July 10. Even on July 16, the Shanghai Composite Index fell 151 points and fell 4.5%, while the Haiqi group was up and down on the same day.

If something goes wrong, there must be a mystery.

Why does Haiqi group, whose core business is bus passenger transport and bus passenger station, go out of a different curve by repeatedly trading?

The mystery came out on May 19, when Haiqi group announced to the public that Hainan Tourism Investment Development Co., Ltd. acquired the controlling shareholder of Haiqi group, namely hainanhai Automobile Investment Holding Co., Ltd., and indirectly held 43.5% equity of Haiqi group.

Hainan state owned tourism investment commission will invest in Hainan Province in November, 2019. Hainan state owned investment committee decided to inject 100% of the state-owned assets into Hainan state-owned assets management committee from May 2020.

That is to say, all the controlling shares of Haiqi wholly owned by Hainan SASAC have been transferred to the newly established Hainan tourism investment, which is also a state-owned enterprise wholly owned by Hainan SASAC. Therefore, the actual controller of Haiqi group has not changed. Haiqi holdings holds 137460000 shares of Haiqi group, accounting for 43.5% of the total share capital of the listed company. After the acquisition, Hainan lvtou indirectly held 43.5% shares of Haiqi group and became its indirect controlling shareholder.

This equity transfer seems to be just icing on the cake, allowing passengers to put on the coat of tourism, and there is no qualitative change. But for some reason, since mid June, it has been rumored that Haiqi group will take the fast train of duty-free business due to this acquisition, because Hainan lvtou owns 49% equity of Hainan duty-free products Co., Ltd. Haiqi group has repeatedly issued a rumor refuting announcement, saying, "after verification, the company has not carried out any business related to tax-free business, and has not conducted any form of negotiation with relevant parties on tax-free business. Up to now, the company has not received the relevant information that the actual controller and the controlling shareholder intend to inject the relevant tax-free business into the company. "

The stock price of "Nai PI Li" has been fluctuating for more than a month, but the stock price of Haifa group has not risen for more than a month. On July 31, the latest announcement of Haiqi group's stock price was released.

Licensing is only a matter of time

The Clarification Announcement of Haiqi group revealed many mysteries.

The clarification announcement first admitted that Hainan tourism investment and Development Co., Ltd., as an indirect controlling shareholder of HAIC, "Hainan Tourism Investment Co., Ltd. has reported to the people's Government of Hainan Province an application for operating qualification of duty-free products on outlying islands, but has not received a written approval document at present.". According to a source close to the Hainan provincial government, in fact, Hainan tourism investment has made a breakthrough in obtaining the license.

"The new offshore tax-free license is likely to be given to local enterprises in Hainan." A tax-free industry expert, who did not want to be named, disclosed to the 21st century economic report that, in fact, after China exemptor acquired 51% of the shares of Haimo, the Hainan provincial government intends to set up another local tax-free company to compete with China's current monopoly in the tax-free market of outlying islands.

On July 21, Hainan tourism investment and Development Co., Ltd., which has just opened its business for three months, established Hainan tourism investment and tax-free Products Co., Ltd. with a capital of 500 million yuan to arrange duty-free products business. The business scope declared by the company at the time of industrial and commercial registration includes sales of goods in duty-free shops, warehousing services for goods under customs supervision (excluding dangerous chemicals), urban distribution and transportation services, Internet sales, tobacco products retail, infant formula milk powder sales, etc.

According to a source, although there is no objection, a consensus has been reached on the issue of the new tax-free license. It is only a matter of time before the marine tourism investment company obtains the tax-free license. Yang Jinsong, director of the International Research Institute of China Tourism Research Institute, believes that if the marine tourism investment is licensed, the state may consider supporting Hainan's development. At this time, it is also reasonable to avoid competition for central enterprises.

Can indirect controlling shareholders get tax-free license to benefit listed companies? Not necessarily. In the Clarification Announcement, Haiqi group said, "if Hainan Tourism Investment Co., Ltd. has obtained the operation qualification of duty-free products, so far, it has no plan and intention to inject duty-free business into the company. At present, the company has not carried out any business related to tax-free business, and has not conducted any form of negotiation with relevant parties on carrying out tax-free business. "

Obviously, the tax-free business can not be related to Haiqi group in the short term. The sources also believe that at present, hailv investment has no idea to inject assets, but concentrate on presenting its eight business sectors. But what about the future? Clarification of the wording of the announcement "so far" seems to leave a thread of suspense.

Hainan tourism big brother emerges

The future of Haiqi group depends on its role in the parent company. This capital drama has made Hainan Tourism Investment Development Co., Ltd., the parent company of Haiqi group, the indirect controlling shareholder.

Xie Xiangxiang, vice president of Hainan University's School of tourism, told reporters that the company was a very young state-owned enterprise, and only opened its business in April this year. Hainan provincial government hopes to develop it into a competitive and exemplary international tourism leading enterprise.

      Liu Pingzhi, vice governor of Hainan Province, said when the company opened its business, the establishment of the marine tourism investment is an important measure and concrete action to accelerate the construction of Hainan free trade port, and is also an important carrier of building an international tourism consumption center. It will promote the development of characteristic tourism industry clusters, cultivate new tourism formats, new models and new products, promote the transformation and upgrading of tourism industry, and create global tourism The demonstration province is of great significance.

According to the acquisition report of Haiqi group, the business scope of the company covers investment project management, asset management, tourism exhibition services, tourism project development and tourism consulting services. As of December 31, 2019, the company has a total assets of 3.8 billion yuan, a total debt of 40.73 million yuan, and a debt ratio of 1.07%. Although the operating revenue is zero in 2019, it has a net profit of 129 million yuan. The balance of cash and cash equivalents at the end of the period was 124 million yuan.

According to the reporter's inquiry, eight companies have been invested in by the Hainan provincial government. They hold 1.65% of the shares of China National immunity Corporation, 49% of the shares of the hailv investment group and 60% of the shares of the black tiger technology company of the hailv investment group. The Hainan Provincial Government has also transferred 100% of the shares of Hainan Boao state guesthouse Co., Ltd. and Hainan Boao state guesthouse management Co., Ltd. to the sea tourism investment company, which has successively invested in recent months We have set up three wholly-owned enterprises, namely, Midland travel and Tourism Development Co., Ltd.

There seems to be no advantage in terms of the size of the new tourism assets. "There is still a clear division of labor between the two state-owned enterprises in Hainan." Xie Xiangxiang pointed out that as early as 2009, the state owned assets supervision and Administration Commission of Hainan province had set up a Hainan tourism investment holding group. The latter is also 100% owned by SASAC. It has eight companies, including resettlement farm, Hainan China International Travel Service, Hainan Pearl Plaza Investment Co., Ltd., Hainan travel control Ma Wenhua Investment Co., Ltd. and Hainan United Travel Service Development Holding Co., Ltd Etc.

Xie Xiangxiang pointed out that most of the tourism resources in the north of Hainan Province are controlled by Hainan tourism control group, while the resources in the south are integrated by Sanya tourism and culture investment group established last year. In addition, there are many central enterprises in the South Island of Shanghai, and the development and management of scenic spots have been allocated for a long time. In fact, there are very few resources left for Hainan tourism investment company. What is the investment direction of Hainan tourism investment? It seems that the island duty-free business is the only way to break through.

It is worth noting that the operator of Hainan lvtou is Chen Tiejun, the chairman of the board who came from Sanya as vice mayor. In Xie Xiangxiang's opinion, he is a trump card of Hainan lvtou. Xie Xiangxiang believes that Chen Tiejun has worked in the administrative system for many years and was in charge of tourism when he was the executive vice mayor of Sanya. He has a deep understanding of the operation mode of local government, the cooperative relationship between the government and state-owned enterprises, and the operation of state-owned enterprises. Therefore, Xie Xiangxiang believed that Chen Tiejun's parachute to Hainan had a certain strategic plan.

In Xie Xiangxiang's view, Hainan tourism investment's next strategy will tend to obtain more resources, such as tropical rain forest parks in the central region, marine resources in several cities and counties in the East, and some ethnic folk culture. "It is suggested that Hainan tourism investment should consider entering Hainan catering culture and integrating Hainan catering supply chain." Xie Xiangxiang suggests. In terms of production factor resources, it seems that Hainan tourism investment also intends to master land transportation through Haiqi group, and may expand in cruise and civil aviation.

However, at present, the policy may not be the development resistance of Hainan tourism investment, but the talent is the factor restricting its development. Yang Jinsong believes that it is very important for Hainan tourism investment to attract and cultivate talents, because only when the talent problem is basically solved can the policy be implemented.

 

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