After the implementation of the reorganization plan, Ccoop Group Co.Ltd(000564) ( Ccoop Group Co.Ltd(000564) , SZ) continued to promote the introduction of reorganization investors and other related work. However, in recent days, Ccoop Group Co.Ltd(000564) share price has bottomed all the way, which also reflects the concerns of the capital market to a certain extent.
Since the announcement of the ex right plan at the end of last year, the industry has paid great attention to the restructuring progress of Ccoop Group Co.Ltd(000564) and it can be predicted that revitalizing and improving the efficiency of existing assets may be one of the important ideas for enterprise operation in the future after adjusting its positioning from “comprehensive service provider of urban and rural commodity circulation” to “integrated commercial operator”.
Ccoop Group Co.Ltd(000564) investor interaction platform shows that the company has reserved more than 5 billion converted shares for the future introduction of restructuring investors and the improvement of the company’s sustainable operation ability and cash flow, and has completed the restructuring plan and is continuing to promote the introduction of restructuring investors and other related work.
Sources close to Daji said that at present, Daji is actively optimizing and adjusting its industrial strategy, and everything is moving in the direction of taking off the stars and hats and sustainable management and development.
its business condition gradually recovers
Since the beginning of this year, Ccoop Group Co.Ltd(000564) has intensively announced personnel changes, changes in rights and interests, revision of system and articles of association and other information, superimposing the external environment, resulting in large fluctuations in its stock price. In addition, due to the delay of war investment, investors are worried about the future of Daji.
Statistics show that from the new first tier to the fifth tier cities, Daji has a layout for the multi-level industrial market, with a total area of 1.8 million square meters of self owned properties. Official data show that Daji has a wide layout of commercial properties, distributed in 15 provinces and 38 cities. It has 16 commercial shopping centers and 122 supermarkets, and has 6 logistics, trade and real estate projects in 5 provinces across the country.
In particular, the department store operation for many years has also contributed many landmark buildings located in the core commercial area of the city to Daji. Such as Qingdao HNA Wanbang center, Chongqing HNA Poly International Center, Hunan Xiangzhong international logistics park, etc. In addition, Daji also has 892.75 mu of land to be developed, 89800 square meters of real estate on sale, and 923100 square meters of operating property.
From the perspective of business conditions, although Daji has been carrying out bankruptcy and reorganization before, Daji has made efforts to fully resume production and operation since the second half of 2021, and has recovered to the level of 2018 before the end of 2021. From the financial data, as of the end of September 2021, the total assets of supply and marketing were 46.3 billion yuan, the total liabilities were 20.7 billion yuan, and the asset liability ratio was 44.7%. From the industry average level, the asset liability ratio of supply and marketing Daji is low in the industry. Taking the 2021 interim report data as an example, there are 50 A-share companies in Shenwan “commercial trade / general retail” where Daji is located. The average asset liability ratio is 59% and the median is 61.36%. The asset liability ratio is far lower than the industry average.
sinking market opens imagination
In addition to its own asset value, Ccoop Group Co.Ltd(000564) for the layout of the sinking market, it also gives the market enough confidence.
From the perspective of equity structure, Ccoop Group Co.Ltd(000564) the new cooperation between the two shareholders has sunk into the third and fourth tier cities, with a good momentum of development. According to the aforementioned sources, the new cooperation has packaged many high-quality assets such as Nanjing Gaochun Yueda Plaza, Changshu xingguangtiandi, Tai’an new cooperative shopping center and Huai’an new cooperative shopping center to Daji. With the strengthening of the construction of county business system, Daji will further sink to the third, fourth and fifth tier cities through the management and revitalization of these assets.
In the special report on consumer industry strategy released by Minsheng securities in 2022, it is believed that the geographical distribution of population may change from the process of “rural to urban, low-line city to high-line city” to “balanced distribution of rural to county, low-line and high-line city”. At the same time, the consumption scene is spreading. Once the layout of national and first and second tier cities was the first choice, but now we need to pay attention to sinking.
In the sinking market, the supply and marketing group has carried out a series of pragmatic and proactive operations. The retail sector has promoted the withdrawal of invalid stores and regions in a planned and rhythmic manner, and the overall business area has been reduced, but the floor efficiency has been significantly improved; New business segments such as group purchase of water testing community tap the sinking market with the double brands of “ledi” and “fresh commune”, and the super integrated e-commerce platform is also committed to continuous large-scale development in the field of sales of agricultural products in China. In addition, through the reorganization of listed companies, clear the historical debt risk and comprehensively improve the internal governance mechanism.
Public data show that the large aggregate market value of supply and marketing ranks upstream in the general retail industry, while the price to book ratio ranks downstream. After the delisting at the end of 2021 and the adjustment with the market after the opening of the new year, Ccoop Group Co.Ltd(000564) share price is at a low point, but combined with the core profit indicators such as more than 5 billion shares for the introduction of war investment, parent net profit and basic earnings per share, it shows a continuous upward trend, as well as the expectation of picking stars and hats after smoothly crossing the restructuring period, some investors remain optimistic about its future market space.
war investment promotion has made progress, and synergy may occur in the future
Who was introduced into the rally as a war investment has triggered various conjectures in the market.
Since the end of last year, Daji announced the ex rights plan, the industry has paid great attention to the restructuring progress of Daji. “Daji is likely to choose war investment enterprises with high industrial synergy and sharing of resources to achieve a situation of 1 + 1 2,” said the aforementioned person. In the view of the industry, with a number of policy dividends such as rural e-commerce, Rural Revitalization and Hainan free trade port, there is no small choice for large-scale supply and marketing and investment.
Although the new strategic investor of Daji has not been settled yet, the industry judges that whoever can invest real gold and silver in the supply and marketing Daji, its strength should not be underestimated, and its own and the new supply and marketing Daji should form a synergistic effect.
