In less than a month, Anhui Chenghe Property “changed ownership” again. This is the fifth time it has changed hands.

On June 11, Caixin Real Estate Development Group Co., Ltd. (“Caixin Development”, 000838.SZ) stated that it would acquire 100% of Anhui Chenghe Property Service Co., Ltd. (“Anhui Chenghe Property”) for 198 million yuan. Equity.

In fact, this time, Anhui Chenghe Property is not a real “change of ownership”, it still belongs to Lu Shengju’s Caixin Group, but moved from the property sector to the real estate at par. This is contrary to the current practice of real estate splitting and listing properties, and this move also means that the previous speculation about Caixin Property’s re-listing in a shell fell through.

Both Chongqing Caixin Property Management Co., Ltd. (“Caixin Property”) and Caixin Development, which were just registered and established on April 26, belong to Chongqing Caixin Real Estate Development Co., Ltd. (“Caixin Real Estate”), which originated from Chongqing Merchants. Lu Shengju’s industrial map.

Within 15 days of the establishment of Caixin Property, it has successively invested in three property enterprises, which also constitute all of its assets. Anhui Chenghe Property is one of them. It only took more than a month for Anhui Chenghe Property to acquire it, and then transferred it to the brother company Caixin Development.

“Taking this as an opportunity to cut into the property industry, but also to improve the profitability of listed companies.” Putting Anhui Chenghe Property into a listed company, Lu Shengju used properties to save the performance of Caixin Development.

The announcement mentioned that the follow-up will continue to invest, and strive to become a market-oriented third-party property life service provider. Property has become a “life-saving straw” for Caixin Development outside of real estate. According to industry insiders, Caixin Development will also plan to acquire a controlling stake in Caixin Zhifu or Caixin Property in the future.

Property relocation

Lu Shengju seems a bit eager to move property assets this time. Caixin Property was established in less than two months, and it took over Anhui Chenghe Property for only one month. The deep integration of the business may not be discussed, so it moved to Caixin Development. The most direct reason is the performance of Baocaixin Development.

On May 7, Caixin Property purchased 100% equity of Anhui Chenghe Property from another buyer. Before Caixin Property, Anhui Chenghe Property had three rounds of buyers, and it was transferred to Caixin Development, and it was already the fifth round of buyers.

Since the transfer of the entire equity of Anhui Chenghe Property to Caixin Property Management was relatively close to this transaction, the assessment result of the previous transaction was used and the transfer was made at a fair price. The estimated value corresponding to 100% equity of Anhui Chenghe Property is 20,095,100 yuan, and the purchase price determined through negotiation is 198 million yuan.

Although it has changed owners many times, the scale of development of Anhui Chenghe Property is still considerable. As of the end of March this year, its contracted management area totaled 15.68 million square meters, and its main business was property service management and community integrated services. Now it has 1 subsidiary (Hefei Ningju Property Management Co., Ltd.), 18 branches, and 45 existing projects.

“After this transaction, the listed company will inject property service assets with certain profitability to improve the profitability of the listed company.” It is natural for Lu Shengju to make a profit from purchasing property assets at a price of nearly 200 million yuan.

In the past year, Anhui Chenghe Property’s profitability has improved, and operating cash flow during the same period has also boosted a lot. Although revenue declined last year, profits and net profit achieved considerable growth. In 2020, operating income was 130 million yuan, a year-on-year decrease of 9.1%; while operating profit and net profit were 22.157 million yuan and 16.75 million yuan, up 19.3% and 20.2% year-on-year respectively.

In addition, operating cash flow inflow was 32.218 million yuan, which expanded the total assets and owners’ equity. As of the end of 2020, the total assets of Anhui Chenghe Property was approximately 158 million yuan, a year-on-year increase of 21.8%; the owner’s equity in the same period increased by 57.7% to 45.76 million yuan.

Real estate management encounters obstacles

It is not the first time for Lu Shengju to use real estate to “rescue” real estate.

On December 18, 2020, Caixin Real Estate pledged all the equity of Caixin Smart Service, another property operator, to Shanghai Kaihui Architectural Design Co., Ltd. for a pledge amount of 200 million yuan. Up to now, the pledge of the equity is still in an “effective” state.

The “in” of the asset transfer this time is completely different from the “out” of the previous equity pledge, but both bring the business situation of the financial and information development to the bright side. At present, the main business of Caixin Development is real estate projects and environmental protection business. As of the end of last year, its revenue was 5.955 billion yuan and 754.2 billion yuan, accounting for 98.4% and 1.25% of total revenue respectively.

However, after joining the property, capital does not seem to buy it. After the announcement of the acquisition at noon on June 11, its share price has been falling after a short surge.

At 13:10 on June 11, the stock price of Caixin Development rose straight up, reaching its peak in the past five days, at 3.2 yuan per share. The “collapse” of the stock price was also very rapid, closing at 3.13 yuan per share that day, which was nearly 2.2% lower than the highest value. After three days of market closure, it failed to “calm down”. As of 11:30 on June 15th, the stock price was 3.03 yuan, down 3.19% from the close of the previous trading day.

At the same time, the financial situation recently announced by Caixin Development is also not ideal. Revenue in the first quarter of this year has increased significantly compared to previous periods, but the net profit attributable to shareholders of listed companies has fallen. Over the same period, operating income increased by 210.71% to 500 million yuan, while the net profit attributable to the parent company lost 29.87 million yuan, a negative growth of 6.37% year-on-year.

And since 2018, the debt ratio of Caixin Development has been maintained at around 84%. In 2020, its total debt will hit a record high, reaching 15.262 billion yuan.

Backdoor listing tide

Compared with the spin-off of the property for listing, it is faster to put the property directly into the listing body. Not only the development of financial information, this has become a tacit thing for many small and medium-sized real estate enterprises.

Lu Shengju first “changed the shell” and then “backed the shell”, and the property sector also entered the listing in disguise.

On April 26, Lu Shengju re-established Caixin Property and regained the name of “Caixin Property” after renamed “Chongqing Caixin Property Management Co., Ltd.” to “Caixin Smart Life Service Group Co., Ltd.”.

Within half a month of its establishment, Lu Shengju filled in a lot of assets. On May 7, Anhui Chenghe Property was incorporated into Caixin Property. At the time of the front and back, Caixin Longshuihu Property and Caixin Smart Life Service joined in succession.

With the introduction of Caixin Smart Services into the branch of Caixin Property, many people speculate that the “shell” of the property company that Lu Shengju has promoted on the capital market may have changed from Caixin Smart Services to Caixin Property.

Unexpectedly, just over a month after the “shell swap”, Lu Shengju had plans to dismantle the assets of Caixin Property. Transfer one of the three originally few companies to the financial and information development of a listed real estate company. If the acquisition is successful, its property sector can be regarded as entering the capital market.

“The listed company will use this acquisition as an opportunity to enter the property industry and expand the property management business. It plans to continue to invest in the future and strive to become a market-oriented third-party property life service provider with a certain degree of competitiveness and influence.” Later, Lu Shengju returned More energy will be put into operation.

Compared with the “step-by-step” approach of splitting and listing properties, the “backdoor” approach of using Caixin Development’s “old bottle” to fill the “new wine” of Anhui Chenghe Property on the “backdoor” listing is more “time-saving”.

According to incomplete statistics, there are currently four companies that have been backdoor listed or have plans to do so, namely Huafa Property Services, Fangyuan Real Estate Service Group, ST Bus and Caixin Development.

They have different ways of obtaining property assets, either through acquisition or through donation by others. The purpose of injecting the concept of property is also different. Some are to promote the listing of the property, while others are to “protect the shell” and put the property into it.

Among them, Huafa Property Services has completed a series of operations of backdoor and name change, and officially announced the listing of the property. In other companies, property is only one of the businesses.

Article source: Property K-line

Archaeologists examine the mummy. Everyone thinks this is an “unprecedented” archaeological find, but the truth is just a sophisticated scam. Shocking discovery In October 2000, police in Karachi, Pakistan received a tip that a man named Ali Akbar was selling a mummy for 600 million rupees, or about $11 million. According to the source, it was not an ordinary mummy, but “Princess of Persia”. Immediately, the police raided Akbar’s house, searched and questioned the suspect. Akbar then took the police to the home of his accomplice, Wali Mohammad Reeki, in the desert region of Baluchistan province. Here, the mummy in question along with the coffin was found. Reeki admitted to buying the artifact from a man named Sharif Shah Bakhi. This person told him that the body was discovered after an earthquake near Quetta, on the border between Iran and Afghanistan. Two men are arrested for smuggling antiquities, but the mystery of the mummy has only just begun. If it is true “Princess of Persia”, this will be a very important discovery, because no mummies of the Persians (present-day Iran) have been found. The mummy was brought to the National Museum in Karachi for experts to analyze and many mysteries surrounding this ancient man were revealed. The body was mummified in the Egyptian style, with a mask and a golden crown, placed on a reed mat. But the most interesting find was a breastplate covering the mummy’s chest, on which the ancient Persian inscription, “I am the daughter of the great king Xerxes. Mazereka protects me. I am Rhodugune.” In addition, the gilded wooden coffin is also decorated with carved lines also in ancient Persian letters. It all seems to show that this is indeed the Princess of Persia. Pakistani archaeologist, Ahmad Hasan Dani, of Islamabad’s Quaid-e-Azam University, excitedly announced in a press conference that, from what was recorded, the mummy was indeed a Ba princess. Tu, lived around 600 BC. This event sparked a dispute between Iran and Pakistan over the ownership of this unprecedented archaeological find. The Iranian Cultural Heritage Organization declared the “princess” to be a member of the royal family of Persia and demanded that Pakistan return the mummy, and even the Taliban movement in Afghanistan claimed it was their own artifact. Unexpected truth Mummy “Princess of Persia” in coffin. The fierce arguments between the parties have become a political problem, easily leading to conflicts. Meanwhile, some other archaeologists have raised doubts that this is the “Princess of Persia”, even a mummy. An independent examination was conducted and the archaeologists went from surprise to surprise. First of all, ancient linguists found that the writing on the mummy’s breast shield and the coffin was written by someone who was not fluent in the ancient Persian language, rife with grammatical errors, and even traces of pencil marks for inscriptions, which pencils were only invented in the 16th century. In addition, a piece of coffin was examined, it was only about 250 years old, and the carpet underneath the body was discovered to be only… 5 years old. Unusual signs were also found in the body of the “princess”, such as the delicate tendons and ligaments of the middle ear that were still intact, despite thousands of years and the mummification process. did not follow the strict methods of Egypt. For example, the heart was removed, which the Egyptians never did, as it was considered important to regenerate a person’s body when they went to the next world. Multiple CAT scans (computerized axial tomography), accelerated mass spectrometry dating, radiocarbon testing, and X-ray scans all proved this to be a hoax. delicate. In the end, scientists determined, there is no “Princess of Persia”, but this is the body of a 16-year-old girl, who may have died in 1996, not 600 BC. Not only that, there is evidence that the girl was murdered for this fraudulent purpose. Experts also discovered that the “mummy” had died from trauma caused by the force of the impact, which broke her cervical and back vertebrae. Her organs were removed, her body cavity filled with table salt and baking soda, a fake embalming process. All of this was likely done within 24 hours of her death. From an antiquities smuggling case to a murder case. It is said that a group of fake antiquities traders brutally killed this poor girl, or at least stole her body shortly after her death, to be processed into a donkey mummy. sell for money. However, although the police questioned everyone involved in the sale of the mummy, as well as several other suspects, it led to nothing. In the end, not only was no one arrested in connection with this young woman’s death, but the victim was also not identified. She languished in museums for a while, before being buried in 2008 by the Pakistan-based charity Edhi Foundation. Although she was finally laid to rest, she remained anonymous, unclaimed, and the cause of death was not clear, forever referred to simply as “Princess of Persia”.

According to analysts, Bitcoin is too expensive, causing investors to rush to find new digital currencies to profit. As a result, Ethereum has increased by more than 40% in value in the past April. Ethereum cryptocurrency was launched in 2013 with the purpose of being used to transact for an intranet of the same name. Now it is turning these crypto holders into billionaires with skyrocketing prices. The Ethereum cryptocurrency is also benefiting from the rise of NFTs, aka non-fungible tokens. This is a digital asset designed to represent ownership of unique virtual items such as art and sports memorabilia. Many NFTs like CryptoKitties and CryptoPunks are all running on Ethereum. However, this outburst of activity has resulted in congestion on the Ethereum network. Ethereum is currently being upgraded with the ambition of enabling faster transaction times and reducing the amount of power required to process transactions.

The European Super League scandal left the Glazers under pressure to sell Manchester United. British media reported that the Glazers wanted to sell Manchester United for £ 4 billion. But how did the American tycoon family buy Manchester United in 2005? The above story is related to the ownership dispute of the famous racing horse Rock Of Gibraltar between MU legendary coach Sir Alex Ferguson and a woman named Susan Magnier, wife of former MU shareholder, John Magnier. Sir Alex Ferguson is a celebrity who is passionate about racing horses. Rock Of Gibraltar is a true “grass star”. It has won 10 out of 12 races and amassed £ 1,164,804 in prize money after 2 seasons. Sir Alex Ferguson has an unending passion for racing horses. PHOTO: DAILY STAR But after the Rock Of Gibraltar “retired”, there was a dispute over ownership of the horse. That indirectly saw Magnier and partner JP McManus sell their stakes in MU to the Glazers. Accordingly, Sir Alex Ferguson believes that he has ownership “half” of this horse. Meanwhile, owner of the world’s largest purebred racehorse Coolmore, Magnier and McManus disagree. On 17 November 2003, a statement made on Magnier’s behalf read, “Coolmore Stud was informed that Sir Alex Ferguson had taken legal action against Mr. John Magnier regarding the ownership of the horse. Rock of Gibraltar. Coolmore Stud and John Magnier consider this action in vain and will strongly defend “. John Magnier is a major shareholder of Manchester United … PHOTO: DAILY STAR A horse dispute is one thing, but that dispute involving coaches and strategic shareholders of the same club as MU is another story. In 2004, Magnier and McManus submitted a list of their 99 “notorious” questions to the Old Trafford team to seek information about the financial situation as well as the MU transfer deal. They even threatened to “take action” to MU if they did not receive a satisfactory answer. Former MU captain Roy Keane revealed in his autobiography “The Second Half” that he had advised Sir Alex Ferguson to give up the dispute but to no avail. Roy Keane writes in his autobiography, “Someone I met in Ireland told me, tell him (Ferguson),” he will never win this. ” I mentioned that to Sir Alex Ferguson. I told him I don’t think it’s good for the club, for the coach in legal disputes with shareholders. I feel like I have a right to say that. … with McManus. PHOTO: DAILY STAR With all that going on, Magnier and McManus began increasing their stake in United through their own company Cubic Expression. Meanwhile, Sir Alex was forced to beg MU fans not to hold protests against the duo Magnier and McManus at the 2004 Cheltenham festival. At the time, Fergie said, “Cheltenham was a classic festival on the Nationak Hunt racing calendar, where people from all over the world and all walks of life gathered to enjoy the race. It’s actually the equivalent of an FA Cup final for a horse racing fan. I do not want this festival to “perish” in any way. Therefore, I ask supporters to refrain from all forms of demonstrations and strongly oppose acts of violence, illegal or disruptive behavior that can create a bad image of the club and MU fans in general. During that Scandal, Malcolm Galzer, owner of the Tampa Bay Buccaneers NFL team, watched the situation closely. Malcolm Galzer has acquired stakes in Manchester United since March 2003, starting at 2.9% and then gradually increasing to 3.17%, 8.93%, 15%, 16.31%, 19%. and nearly 30% in October 2004. MU fans protested against the Glazers to buy MU. PHOTO: DAILY STAR Then, Malcolm Galzer quickly made an offer to Magnier and McManus asking to buy a 28.7% stake in Cubic Expression in May 2005. That offer has been accepted. That is the premise for Malcolm Galzer to own more than 50% of MU shares and then proceed to acquire the club. A month later, Malcolm Glazer completed a 98% acquisition of Manchester United’s stake from £ 800 million to £ 1 billion. MU fans were extremely angry but helplessly watched the Glazers officially take over Manchester United. But how was the Rock Of Gibraltar race horse dispute resolved in the end? In March 2004, Sir Alex received a one-time £ 2.5 million payment to end the war. Sir Alex Ferguson later mentioned the story in his autobiography published in 2013. Joel Glazer, Avram Glazer and Bryan Glazer were the three sons of Malcolm Glazer at Old Trafford in 2005. Photo: GETTY Sir Alex Ferguson writes in his autobiography, “Rock Of Gibraltar is a wonderful horse. It became the first horse in the Northern Hemisphere to win seven consecutive group 1 races, beating the Mill Reef record. Rock Of Gibraltar is registered to play for my team under the agreement I signed with Coolmore in Ireland. I understand that I have half ownership of the horse, I will also get half the bonus. Everything was then resolved. The issue ended when we reached an agreement and agreed that there was a misunderstanding between the two sides. Apparently, there was a potential conflict between my hobby of horse racing and my possession of the MU club when a man stood up at the AGM and insisted on me to resign. I am very awkward. I must say, there has never been a time when I have been fired from my duties as the head coach of Manchester United. I have an excellent lawyer at Les Dalgarno and he takes care of the situation on my behalf. It doesn’t affect my love of race horses. I am on a good relationship with John Magnier, the leading figure at Coolmore.

Coach Solskjaer can be given tons of money to buy if MU changes owners During the years as MU, the Glazers gave almost all authority to manage the team for Ed Woodward. Perhaps unsuccessful with the transfer contracts, but in the marketplace, Ed Woodward still makes money for the Old Trafford team. He continuously helped the home team sign heavy sponsorship contracts, culminating in the deal signed with TeamViewer, helping MU to bring in 70 million pounds / year. This is the largest shirt advertising contract in the history of the Premier League. The huge reliance on Ed Woodward is one of the reasons that when the executive vice president leaves, the Glazers will also have to consider the possibility of transferring MU, especially when they can reap interest. more than 3 billion pounds in this case. Because, Mohammed bin Salman, Crown Prince of Saudi Arabia, always wanted to buy MU Two years ago, he offered to pay 4 billion pounds to win the ownership of a rich traditional English team. If this offer is valid, the Glazers will profit more than £ 3 billion because in 2005, they only lost £ 800 million to buy the team. This is a very hard to resist profit. Currently, MU’s value is valued at £ 3.4 billion by Forbes. Obviously, in the difficult context of the current epidemic, the Glazers family has difficulty finding a better partner than the Crown Prince of Saudi Arabia, especially when the wave of protest against them is escalating because MU is among the 12 demanding teams. breakaway “starting UEFA with super project European Super League. But, the problem is whether this powerful man of the Middle East is still interested in the ambition to own MU, after he failed in England, with the failed acquisition of Newcastle? Sponsorship news