去年卖今年买 冰山冷热上演“折腾式”重组

来源:北京商报

去年11月底刚卖出的松下制冷(大连)有限公司(以下简称“松下制冷”)40%股权,如今(000530)要再买回来。同时,冰山冷热拟收购松下制冷其余60%股权,实现对其全资控股。而这只是冰山冷热本次重组中的一环。8月3日晚间,冰山冷热发布公告称,公司拟筹划重大资产重组,除了松下制冷100%股权外,冰山冷热还欲收购松下压缩机(大连)有限公司(以下简称“松下压缩机”)60%股权以及松下冷机系统(大连)有限公司(以下简称“松下冷机”)55%股权。

拟收购3家松下相关公司股权

作为我国制冷工业第一股,冰山冷热早在1993年就登陆A股,如今,冰山冷热要进行重组了。

8月3日晚间,冰山冷热发布公告称,公司拟筹划重大资产重组,即收购松下制冷、松下压缩机、松下冷机3家公司分别100%、60%、55%股权。公司于8月2日与交易标的相关股东签订了《股权收购意向协议》。

具体来看,冰山冷热拟以支付现金方式向三洋电机株式会社购买松下压缩机60%股权;向三洋电机株式会社购买松下制冷60%股权;向松下电器(中国)有限公司(以下简称“松下中国”)购买松下制冷40%股权;向松下中国购买松下冷机30%股权;向松下冷链(大连)有限公司(以下简称“松下冷链”)购买松下冷机25%股权。

需要指出的是,本次重组系关联交易。据了解,冰山冷热控股股东大连冰山集团有限公司的董事、监事中有松下中国董事担任部分董事、监事,松下中国为公司的关联法人。三洋电机株式会社则持有冰山冷热8.72%股份,为公司的关联法人。松下冷链同样是冰山冷热关联方,冰山冷热及三洋电机株式会社分别持有其40%、60%股份。

对于本次重组的细节,冰山冷热并未过多披露。冰山冷热表示,本次签署的《股权收购意向协议》仅为公司与交易对方经过协商达成的初步意向,公司及相关各方将积极推进重大资产重组的相关工作,具体交易方案和交易细节以相关各方最终签署的正式协议为准。

去年卖出松下制冷40%股权

北京商报记者注意到,本次的交易标的之一松下制冷曾是冰山冷热的参股公司,去年11月底,冰山冷热刚将其持有的松下制冷40%股权转让给松下中国,如今距离转让事项刚过去8个月,冰山冷热又拟将其买回来,如此折腾也不免使投资者心生疑惑。

把时间拨回到去年11月27日,彼时冰山冷热发布公告称,为优化资产结构、助力主营业务改善,公司拟与松下中国签署股权转让协议,将所持松下制冷40%股权全部转让给松下中国。

资料显示,松下制冷的经营范围包括环保及能源综合利用的制冷制热设备、空调机械、环保机械及相关联的设备等的设计、生产、制造、销售、安装、售后服务及与此相关联的其他业务。

值得一提的是,本次出售存在溢价。公告显示,截至评估基准日2021年6月30日,松下制冷净资产账面价值约为3.47亿元,净资产评估价值(资产基础法)为4.37亿元,评估增值率26.17%。根据该评估结果,确定松下制冷40%股权的转让价格约为1.75亿元。

目前冰山冷热并未披露本次收购的收购价格,因此本次卖出又买入公司的盈亏情况目前还未可知。经济学家宋清辉表示,从整个资本市场来看,在几个月内卖出又买入资产并不常见,该行为可能会被监管质疑存在利益输送的情况,该行为的合理性或需要公司作出说明。

在冰山冷热出售松下制冷40%股权之时,松下制冷2021年上半年归属净利润为亏损。财务数据显示,2021年上半年,松下制冷实现的营业收入约为2.97亿元,对应实现的归属净利润约为-5863万元。松下制冷最新的业绩情况,冰山冷热还并未披露。

针对公司相关问题,北京商报记者致电冰山冷热董秘办公室进行采访,不过对方电话未有人接听。

上半年预计靠出售资产扭亏

在拟重组的背后,冰山冷热近年来业绩情况难言乐观,自2018年起,冰山冷热归属净利润开始逐年下滑,且在2021年出现亏损。

财务数据显示,2017-2021年,冰山冷热实现的营业收入分别约为20.8亿元、19.66亿元、18.32亿元、17.27亿元、20.89亿元;对应实现的归属净利润分别约为2.01亿元、1.11亿元、8911万元、2134万元、-2.69亿元,呈现出逐年下滑的趋势。

今年一季度,冰山冷热归属净利润继续亏损,当期实现的营业收入约为5.8亿元,对应实现的归属净利润约为-1276万元。

今年上半年,冰山冷热预计实现扭亏。据公司2022年半年度业绩预告显示,公司上半年预计实现归属净利润2400万-2800万元,同比扭亏为盈。

值得注意的是,出售资产成为本次扭亏的重要“功臣”。冰山冷热表示,报告期内,公司转让所持冷王集装箱温度控制(苏州)有限公司(以下简称“苏州冷王”)17.8%股权,本期获得净收益约3650万元。

据了解,上述股权转让事项发生在今年5月底。彼时冰山冷热发布公告称,为适当盘活非流动金融资产,优化资产结构,助力主营业务改善,公司拟出售苏州冷王17.8%股权,股权转让资金将用于补充流动资金或归还银行借款,降低财务费用。

投融资专家许小恒表示,在业绩承压之时,许多上市公司会选择通过变卖资产来增加利润,不过这并非长久之计,如何提振主业、培育新的利润增长点才是企业更需要考虑的问题。

北京商报记者 董亮 丁宁

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https://thisisdb.com/search/search.php?key=%E8%BE%A6Limerick%E6%96%87%E6%86%91%E6%84%9B%E7%88%BE%E8%98%AD%E5%88%A9%E8%8E%AB%E7%91%9E%E5%85%8B%E5%A4%A7%E5%AD%B8%E7%95%A2%E6%A5%AD%E8%AD%89%E6%88%90%E7%B8%BE%E5%96%AEQ%E5%BE%AE%E4%BF%A12298881%E8%BE%A6UL%E7%95%99%E4%BF%A1%E7%B6%B2%E4%B8%AD%E7%95%99%E6%9C%8D%E8%AA%8D%E8%AD%89%E6%B5%B7%E7%89%99%E8%AA%8D%E8%AD%89%E6%94%B9UL%E6%88%90%E7%B8%BE%E5%96%AEGPA%E8%BE%A6UL%E5%81%87%E6%96%87%E6%86%91%E5%AD%B8%E4%BD%8D%E8%AD%89%E7%95%A2%E6%A5%AD%E8%AD%89PDF%E9%9B%BB%E5%AD%90%E7%89%88ID%E9%A7%95%E7%85%A7%E5%A6%82%E4%BD%95%E7%94%B3%E8%AB%8B%E5%88%A9%E8%8E%AB%E7%91%9E%E5%85%8B%E5%A4%A7%E5%AD%B8University%20of%20Limerick%20degree%20offer%20diploma%20Transcript,frog=qxwmk45m |  http://ks.pconline.com.cn/?q=%E8%BE%A6AIS%E6%96%87%E6%86%91%E6%96%B0%E8%A5%BF%E8%98%AD%E5%A5%A7%E5%85%8B%E8%98%AD%E5%95%86%E5%AD%B8%E9%99%A2%E7%95%A2%E6%A5%AD%E8%AD%89%E6%88%90%E7%B8%BE%E5%96%AEQ%E5%BE%AE%E4%BF%A12298881%E8%BE%A6AIS%E7%95%99%E4%BF%A1%E7%B6%B2%E4%B8%AD%E7%95%99%E6%9C%8D%E8%AA%8D%E8%AD%89%E6%B5%B7%E7%89%99%E8%AA%8D%E8%AD%89%E6%94%B9AIS%E6%88%90%E7%B8%BE%E5%96%AEGPA%E8%BE%A6AIS%E5%81%87%E6%96%87%E6%86%91%E5%AD%B8%E4%BD%8D%E8%AD%89%E7%95%A2%E6%A5%AD%E8%AD%89PDF%E9%9B%BB%E5%AD%90%E7%89%88ID%E9%A7%95%E7%85%A7%E5%A6%82%E4%BD%95%E7%94%B3%E8%AB%8B%E5%A5%A7%E5%85%8B%E8%98%AD%E5%95%86%E5%AD%B8%E9%99%A2Auckland%20Institute%20Of%20Studies%20degree%20offer%20diploma%20Transcript,frog=87u07ulb, |  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