Back off! The assets of 1.36 billion yuan will not be donated again.
On May 17, Youngor Group Co.Ltd(600177) once said that in order to further focus on the construction of fashion industry and enhance the core competitiveness of the enterprise, the company plans to withdraw from the health industry and donate Puji hospital and related assets to Ningbo Municipal People’s government. The estimated value of the assets to be donated is 1.36 billion yuan. However, this move was opposed by many small and medium-sized investors, Youngor Group Co.Ltd(600177) and the directors and supervisors of the company also received the supervision letter from the Shanghai Stock Exchange.
Just now, Youngor Group Co.Ltd(600177) said that the board of directors and management of the company had listened to the opinions of the majority of shareholders, and the company decided to terminate the proposal of donating Puji hospital and related assets worth 1.36 billion yuan to Ningbo municipal government.
listen to the opinions of shareholders
1.36 billion yuan asset termination donation
On May 23, Youngor Group Co.Ltd(600177) announced that the board of directors and management of the company listened to the opinions of the majority of shareholders, and the company decided to terminate the proposal of donating Puji hospital and related assets worth 1.36 billion yuan to Ningbo municipal government. Meanwhile, the board of directors of the company decided to cancel the first extraordinary general meeting of shareholders in 2022.
a week ago Youngor Group Co.Ltd(600177) announced the donation of assets
plans to quit the health industry and focus on the main fashion industry
A week ago, Youngor Group Co.Ltd(600177) once said that in order to further focus on the construction of fashion industry and enhance the core competitiveness of the enterprise, the company plans to withdraw from the health industry, donate Puji hospital and related assets to Ningbo Municipal People’s government, and request the general meeting of shareholders to authorize the management to handle relevant matters. The estimated value of the assets to be donated is 1.36 billion yuan (subject to the final accounts). The impact of this donation on the company’s net profit in 2022 is expected to be 1.02 billion yuan (subject to the audit data).
It is understood that Youngor Group Co.Ltd(600177) once won the state-owned construction land use right of plot cx06-05-02g, jishigang Town, Haishu District, Ningbo at the price of RMB 75096400 on May 24, 2018. The land is used for medical and health purposes. It is planned to build a large-scale general hospital with class III class A standard, and take this as the basis to develop the health industry and realize the transformation exploration of the real estate sector. In October 2018, Puji hospital officially started construction, and the acceptance has been completed recently.
Youngor Group Co.Ltd(600177) said that in recent years, the economic situation outside China has become more uncertain, the national medical system reform has been promoted in depth, and the company lacks the operation team and experience in relevant industries. If the company continues to invest in Puji hospital and related assets, there may be a large degree of imbalance between input and output, which is not conducive to the company’s focus on capital and energy to develop its main business. Therefore, the company decided to further focus on the main business in terms of resources, funds, team and management, adjust the existing industrial structure, and plan to donate Puji hospital and related assets to Ningbo Municipal People’s government. The specific donation scheme is submitted to the general meeting of shareholders to authorize the company’s operation and management to negotiate and implement with Ningbo Municipal People’s government.
After the donation, the company will accelerate the adjustment of industrial structure, expand the territory of fashion group through cultivation, cooperation and acquisition, enhance brand influence and ensure the stable and healthy development of the company.
Independent directors believe that this donation meets the requirements of listed companies to actively fulfill their social responsibilities, is conducive to improving the company’s social image and further focusing on the main business.
Subsequently, Youngor Group Co.Ltd(600177) listed companies, directors, supervisors and senior managers received the regulatory letter from the Shanghai Stock Exchange and put forward regulatory requirements on the company’s external donations.
shareholders: renege
However, many minority shareholders were puzzled by the donation of Youngor Group Co.Ltd(600177) . Some people said, “can the assets of listed companies act recklessly?” “If you can’t do it, you can sell it at a discount. What’s the matter with donating directly?” “Do not take the majority of small and medium-sized investors seriously.”
Now, for the termination of donation, investors think it is too inconsistent. “Such a change of mind is extremely disappointing to the management of the company.”
As of the end of the first quarter, the stock had about 90000 shareholders.
Youngor Group Co.Ltd(600177) last year’s net profit decreased by 30%
It is reported that Youngor Group Co.Ltd(600177) is a leading enterprise in China’s men’s wear industry. It has the core brand Youngor, and the market share of core categories of shirts and suits continues to rank first. In addition, sub brands include mayor, hANP, etc. In addition to men’s wear business, Youngor Group Co.Ltd(600177) has also been named “land King harvester” because of its large-scale “land grabbing”. After years of development, Youngor Group Co.Ltd(600177) has formed a business pattern dominated by brand clothing, real estate development and financial investment.
According to the annual report, Youngor Group Co.Ltd(600177) 2021 achieved an operating revenue of 13.607 billion yuan, an increase of 18.57% over the same period of last year; The net profit attributable to the shareholders of the listed company was 5.127 billion yuan, a decrease of 29.15% over the same period of the previous year, and the net profit attributable to the parent company after deduction was 4.444 billion yuan, an increase of 41.34% over the same period of the previous year.
As for the reasons for the decline in net profit attributable to the parent company, Youngor Group Co.Ltd(600177) explained in the financial report that it was mainly due to the sale of Bank Of Ningbo Co.Ltd(002142) 296497500 shares in the previous year, but there was no such event in the current year.
Although Youngor Group Co.Ltd(600177) has made frequent efforts in real estate and financial investment in recent years, the investment income is not stable, and finally returned to the old bank. As early as in the 2019 annual report, Youngor Group Co.Ltd(600177) said, “the company has carefully adjusted its development strategy, further defined the core position of the main brand clothing industry, and determined that in the future, in addition to strategic investment and continuing to fulfill its investment commitments, the company will no longer carry out financial equity investment in non main fields, and choose the opportunity to dispose of existing financial equity investment projects.”
Now, Youngor Group Co.Ltd(600177) in the annual report, once again emphasizes that the core business of the company is the fashion industry with brand clothing as the main body. The company’s fashion sector achieved an operating revenue of 6.821 billion yuan last year, a year-on-year increase of 7.69%; The net profit attributable to shareholders of listed companies was 936 million yuan, a year-on-year decrease of 2.55%.
In terms of share price performance, since March last year, Youngor Group Co.Ltd(600177) ‘s share price has shown a trend of shock and decline. So far, the stock has reported 7.09 yuan, with a total market value of 32.819 billion yuan.
