*ST Busen's Internal And External Troubles Will Still Spend 130 Million Of Its Subsidiaries.

*ST Busen, which is deeply involved in shareholder disputes and caused market, media and regulatory concerns, has been running capital frequently in recent years. In the evening of September 11th, the company announced that it would spend more than 100 million yuan to purchase assets, and set up two announcements for the two subsidiaries to undertake garment and financial technology business respectively.
Recently, the company's internal strife shareholders issued a joint statement, saying that "all parties to safeguard the interests of listed companies, to achieve the highest quality development of listed companies as the largest" common divisor ", by strengthening the main business management, helping listed companies to develop new businesses, and jointly cope with violations of guarantee litigation and other measures, and strive to achieve profitability in 2019. In September 27th, *ST Busen will convene another provisional shareholders' meeting.
Cut into the third party payment business
In the evening of September 11th, *ST Busen announced that the company intends to acquire the 60.4% equity interest of Guangdong letter Agel Ecommerce Ltd (hereinafter referred to as "Guangdong letter exchange"), which is held by Yi Hui Hua (Beijing) Technology Co., Ltd. (hereinafter referred to as "Yi Lian Hui Hua"), with a transaction consideration of 138 million yuan.
In the announcement, the company said that the purpose of the acquisition is "based on the long-term development plan of the company, in order to speed up the layout of the company in the field of financial science and technology, and expand the source of business income".
In fact, the income of Guangdong Mail Exchange last year and the first half of this year was only one million level: in 2018, the annual income was 4 million 851 thousand and 700 yuan, and the loss was 514 thousand yuan; in the first half of this year, the revenue was 5 million 194 thousand and 300 yuan, and the net profit was 1 million 307 thousand and 700 yuan.
The third party payment license is the "hard core" of Guangdong letter and remittance, which holds the business card of the Bank of China issued by the people's Bank of China. *ST Busen said that through the acquisition, the company formally obtained the business license of the bank card acquiring business, and then cut into the third party payment business.
As of June 30th, Guangdong's total assets amounted to 53 million 590 thousand yuan, net assets of 23 million 930 thousand yuan, and 100% equity valuations amounted to 230 million yuan, with an appreciation rate of 860.27%.
The company said it would have third party payment licences after acquiring the Guangdong mail exchange, and then be able to carry out relevant bank card receipts and related technology supporting services based on licences, and cooperate with the partners of the aggregated payment business. In the future, the company will comprehensively cut into all aspects of electronic payment, expand business areas, introduce industry talents and purchase assets, and strive to become China's industry payment leader.
It is worth noting that the share interest is in pledge. Just a month ago, Yi Lian Hui had all mortgaged the 60.40% stake in Guangdong letter exchange (the target of the transaction) to Shanghai Pudong Development Bank Tianjin branch, which was used to provide guarantee for Guangdong's letter of credit "financing quota agreement".
*ST Busen said that the equity transaction involves the transfer of the bank card receipts payment business license issued by the people's Bank of China. It is necessary to submit information to the people's Bank of China for change. Yi Lian Hui has issued a promise that it will handle the lifting of pledge procedures and business change procedures within seven working days after the transfer of the shares is approved by the people's Bank of China.
In May of this year, the Guangdong bank's bank account was frozen and the amount was frozen at 20 million 860 thousand yuan. According to the announcement, this is due to the relevant regulations issued by the Bank of Qingdao according to the people's Bank of China. At the end of the valuation date, the Guangdong letter exchange management further communicated with the Bank of Qingdao and the people's Bank of China.
Set up two subsidiaries
Recent *ST Busen capital operation is frequent. With the announcement of the third party payment license, there are plans to set up two wholly owned subsidiary companies to undertake the clothing business and financial technology business of the parent company respectively.
In September 10th, *ST Busen convened the board of directors to consider and adopt the motion on the establishment of wholly owned subsidiary to engage in garment business and the motion to set up a wholly owned subsidiary to engage in financial technology business.
The main content is that *ST Busen intends to invest in the establishment of a wholly-owned subsidiary, mainly engaged in clothing business, with a registered capital of 100 million yuan. According to the announcement, it is mainly based on the long-term development plan of the company, making bigger and stronger clothing business and gradually taking over the assets of the clothing business of the parent company system.
At the same time, for the needs of future listed companies to expand their financial and technological fields, the company intends to invest in the establishment of a wholly-owned subsidiary, mainly engaged in industrial Internet technology development, technology services, big data analysis, software sales and other businesses, with a registered capital of 30 million yuan. The subsidiary is tentatively named "Xinhui cloud Network Technology Co., Ltd.", which is similar to the "Guangdong letter exchange" issued together. It is not known whether the purchase of the third party payment licence will be included in the subsidiary.
The recent *ST Busen stock price has strengthened, it has been trading for two consecutive days, and from September 9th to September 11th, the cumulative increase of 14.94%. After closing, the company issued a notice of share price change, saying that there was no violation of information fair disclosure.
At present, *ST Busen still faces greater profit pressure, and it is urgent to develop new business to provide the possibility of turning losses into profits this year.
Big shareholders and two shareholders "break the mirror"?
The *ST Busen, which was once deeply involved in shareholder disputes and once caused regulatory concern, seems to have eased relations with the largest shareholder in recent years (Beijing orient Heng technology and Trade Co., Ltd.) and the second largest shareholder (Shanghai Rui asset management partnership limited).
It is reported that the rival of this transaction is *ST, Busen's largest shareholder, Dongzheng Heng's real controller, Wang Chun Jiang, which was established in 2011 with a registered capital of 54 million 240 thousand yuan. The transaction has been considered by the board of directors of the company. Independent director Tao Baoshan, Ye Xing and Lin Mingbo also made their own independent opinions.
In order to clarify the negative events such as "contention of control rights", Dongfang Heng Zheng and Shanghai Rui Wei have issued a joint statement recently, saying that "all parties will reach agreement on major issues such as follow-up governance of listed companies as soon as possible, and convene shareholders' meetings to deliberate on related matters, so as to promote the completion of the general election of directors and supervisors of listed companies".
On the evening of September 11th, *ST Busen issued a notice of the provisional shareholders' meeting. It was due to convene the second provisional shareholders' meeting in 2019 at 13:00 p.m. on September 27th.