Why was Vanke s equity acquired, and who are the bigwigs behind Vanke s equity dispute?

Vanke's equity battle is the largest corporate M&A and anti-M&A offensive and defensive battle in the history of China's A** field. On December 17, 2015, an internal speech by Wang Shi publicly challenged Baoneng, and the battle for Vanke's equity officially entered the stage of hand-to-hand combat.

According to Vanke's announcement, Baoneng's shareholding ratio has been reached, and it is only one step away from the status of the controlling shareholder. On the evening of June 9, 2017, China Evergrande transferred the equity of Vanke to Shenzhen Railway, which was finally broken"The Battle of Ten Thousand Treasures"Stalemate. [1] After the transfer, Shenzhen Metro officially became the largest shareholder of Vanke, and Vanke's major shareholder changed hands again.

For many years, Vanke has been grossly undervalued, and behind its sheer size and good performance is a low share price that doesn't match it. As the leading real estate company in China, Vanke has cash flow.

It is very abundant, and there are lucrative variable sellers, but buying this "gold mountain" is surprisingly cheap. Vanke's shareholding is very dispersed, and the management holds very little shares.

When the fangs are exposed, the total shareholding ratio of the top ten shareholders is only. As long as 20 billion yuan can be in the secondary market.

Won the position of Vanke's largest shareholder - this is Yu Liang, president of Vanke.

The concerns raised in March last year have now been confirmed by the practice of the "Baoneng Department". When choosing an entrepreneurial platform, you must be cautious and try to choose a platform with a larger scale, such as Tencent Maker Space, which will have a higher credibility. On the other hand, in the face of the "barbarians" outside the door, Vanke's management was vigilant, but did not take active precautions.

In 1994, Vanke was caught in the "Junwan Dispute", which was the first time Vanke faced the "barbarians", and finally Wang Shi.

found Jun'an's flaw.

avoided the fate of Vanke being split. Like Jun'an's "successor of will", the "Baoneng Department" has made a comeback after 20 years, while Vanke is still as vulnerable as 20 years ago, and in the case of the "Baoneng Department" has not violated the rules, Wang Shi and the regulators have fewer cards in their hands than 20 years ago. It is still too early to speculate on the future fate of Vanke, and it remains to be seen whether Wang Shi can find the "white knight" to save the scene as he did 20 years ago, but whatever the outcome, this matter should become a landmark event for all listed companies in China to learn from.

At the same time, it is also facing the risk of being kicked in by the "barbarians", and the refusal of the "barbarians" is not only to ensure the reasonable distribution of the company's equity, but also to increase the risk awareness, so that the company can control its own destiny.

There are two parties to the battle for Vanke's equity, one is the Baoneng department with Yao Zhenhua as the boss, and the other is the team of Wang Shi, the founder and current manager of Vanke. Yao Zhenhua wants to be a big Baoneng real estate, and the way he chooses is to acquire Vanke, a leading real estate company in China! And Wang Shi for the long-term development of Vanke, does not welcome Baoneng!

Because Baoneng's acquisition of Vanke has leverage, there may be a lot of money borrowed from others, and Baoneng may have to use Vanke's money to repay the debts after acquiring Vanke. Secondly, Baoneng's acquisition of Vanke will have an impact on Vanke's decision-making in the future, which may lead to the hindrance of Vanke's development, and Wang Shi's doing so is also a responsible approach!

Vanke's largest shareholder is Wang Shi. In terms of equity, Wang Shi is the largest shareholder of Vanke Group, and Wang Shi, as the chairman of the board of directors of Vanke Group, is a natural speaker.

Further Information: Vanke's Profile:

1. Vanke Co., Ltd. (referred to as Vanke or Vanke Group, **abbreviation: Vanke A, ****: 000002, **used abbreviation:

Shenzhen Vanke A, G Vanke A), the company was established in May 1984, with a total share capital of 10,000 shares (in the second quarter of 2008), headquartered in Vanke Center, No. 33, Huanmei Road, Dameisha, Yantian District, Shenzhen, Guangdong Province, China, and is currently the chairman of the board of directors Yu Liang.

2. Vanke Group has been on the list for three consecutive times in the red list selection activity held by Real Estate China.com. In August 2016, Vanke Enterprise Co., Ltd. was the first to enter"2016 China's Top 500 Enterprises"ranked 86th. In January 2018, the board of directors of the company decided to appoint Zhu Jiusheng as the president and chief executive officer of the company.

On May 9, 2018, the "2018 China Top 100 Brand Value List" was released, Vanke ranked on July 19 of the first year, and the 2018 Fortune Global 500 list was released, and Vanke Enterprise ranked 332nd. On December 5, 2018, it won the 8th Hong Kong International Finance Forum and China's ** Golden Bauhinia Award for the Most Valuable Listed Company. In December 2018, the World Brand Lab released the list of "2018 Top 500 World Brands", and Vanke ranked 447th.

In July, the Fortune Global 500 list was announced, and Vanke ranked 254th. On August 22, 2019, the 2019 Top 100 Chinese Private Enterprises in the Service Industry were released, and Vanke Enterprise Co., Ltd. ranked 37th on September 1, 2019, and the 2019 China Top 500 Service Enterprises list was released in Jinan, and Vanke Enterprise Co., Ltd. ranked 37th. On December 18, 2019, the People's ** "China Brand Development Index" 100 list ranked 34th.

On January 4, 2020, it won the "Sustainable Development Innovation Award" of the 2020 Caijing Evergreen Award.

In fact, it is also its own, it is a small company with low qualifications registered by Vanke itself, and then it will rely on the name of Vanke to sell the property.

In essence, it does belong to Vanke. It may be that companies with low qualifications will have lower costs such as paying taxes. It can be said that it is reasonable to avoid taxes.

It is Vanke's, its community properties are Vanke, people who know Vanke know how perfect Vanke's property system is, we are a partner in Vanke Park, we can make two points at the developer's low price, and the remuneration is only 50,000 yuan.

If you can't get the low price you are satisfied with, you can get a refund.

As of December 31, 2019, according to Wanda's 2019 annual report, there were more than 1,300 subsidiaries in the consolidated financial statements of Vanke Group. There are three main types of Vanke subsidiaries:

First, real estate development companies;

second, property management companies;

Third, other non-major operating companies.

There are three main reasons why Vanke has so many subsidiaries:

First of all, in the real estate industry, it is common practice to set up a project company when developing a new project. The project company is not a going concern in the usual sense. When a real estate project is completed, sold, and delivered to consumers, the project company has fulfilled its mission and may be deregistered.

Through the establishment of a project company, a real estate project can be separately accounted for and evaluated. At the legal level, for the project company, it only needs to use the registered capital to bear limited liability for the project, which effectively controls the risks. This type of company is a real estate development company.

According to Vanke's 2019 annual report, the Group added 3,88 new subsidiaries in 2019 and decreased by 119 subsidiaries.

Secondly, the establishment of a project company helps to professionally manage the property and provide special services to the owners. This kind of project company is a property management company.

Finally, the establishment of a project company is convenient for the company to set up a shell company to carry out capital operation at home and abroad. That is, other non-major operating companies. For example, a capital contribution of minority interests can be obtained through a subsidiary.

However, there is a disadvantage to this investment method: the minority shareholders are actually other shareholders who cooperate with Vanke, and when a cooperative project ends, there are usually no new projects, so the minority shareholders will demand that the net profits belonging to their names be distributed. Judging from Vanke's historical financial data, the cash dividend of minority shareholders can reach about 50%.

These are the three reasons why Vanke has many subsidiaries.

Wang Shi said that he was very confident that he could control the company well without asking for equity before, and also said that he was afraid that it would be dangerous to suddenly have money, especially back then. Over the years, Vanke has been seriously undervalued, and behind its huge scale and good performance is a low stock price that does not match. As the leader of China's Fangming Regret Training Enterprise, Vanke has a very abundant cash flow and a lucrative variable seller, but it is unexpectedly cheap to buy this "gold mountain".

Vanke's equity is very dispersed, and the management holds very little shares, and when the "Baoneng Department" shows its fangs, the total share holding ratio of the top ten shareholders is only. As long as 20 billion yuan, it can win the position of Vanke's largest shareholder in the secondary market This is the concern raised by Yu Liang, president of Vanke, in March last year, and now it is proved by the practice of the "Baoneng Department".

No. On the evening of September 6, 2016, Vanke Weekly refuted the rumors that "Xu Jiayin will be the chairman of Vanke, Wang Shi will be the chief consultant, and Ma Yun will be the honorary chairman of Vanke" that day.

Fake, the melon-eating masses can disperse! ”