Ji Fengnong Machine Fast Advance North-east Market - Jifeng Nong Machines, Agricultural Machinery -

As in 2009 the first landing of the capital market Agricultural Machinery Pin Sales chain

, machine chain Co., Ltd. Sichuan Jifeng Nong IPO and listing on the GEM has been more than two months time. Raise funds to enhance the super-efficient use of the national agricultural market share expand, seeking to profit growth, Jifeng rapid implementation of the company's largest operation of a capital stake in the project. According to Ji Fengnong machine in January released the use of ultra raise funds to Jilin Jinqiao Nong Machine Co., Ltd. (hereinafter Jinqiao Nong machine) shares capital increase and the transferee notice, Jifeng Nong machine of the first consideration of the Nineteenth Meeting of the Board through "on the use of ultra- raise funds to Jilin Jinqiao Nong Machine Co., Ltd. shares capital increase and the motion of the transferee, "the company raise capital 24,048,000 yuan using ultra of Jilin Jinqiao Nong Machine Co., Ltd. to conduct capital increase and the transferee Jinqiao Nong machine stake of existing shareholders. This become China's agricultural distribution sector, with the largest M & A case of capital stock.

Jifeng Nong machine in complete Jinqiao Nong machines equity capital increase and the transferee, the Jinqiao Nong machine officially changed its name to Jilin Ji Feng Jin Qiaonong Machine Company (hereinafter Yoshimine Jinqiao), number of registered capital of 14.68 million yuan, Ji Fengnong machine of its registered capital 45.5% of the original shareholders in Jifeng Jin Qiaonong machine to continue holding their share of the capital increase has been reduced, the actual controller of the original Bo Jin Qiaonong machine by a 39.8% stake reduced to 27.11%.

The price of reference of the Jinqiao Nong machine replenishment latest audited net capital value, based on the size of its expected return, expected profitability, brand effectiveness, marketing network and other factors, by mutual consultation Jifeng Nong machine according to 1 yuan per registered capital valued 3.6 yuan for capital increase. The new board of directors consisting of a total of 5 Jifeng Jinqiao directors, of which Jifeng Nong machine appoint three persons appointed former Jinqiao Nong machine 2. Meanwhile, negotiations by the parties in the February 28, 2010, five million yuan investment from the MASSES Jinqiao acquisition Jinqiao Jinqiao Nong machine sales and service companies in all the shares of the company sales and service after the acquisition became a wholly owned subsidiary Jifeng and Jinqiao inherit all the operations. According to Ji Fengnong machine

IPO prospectus in GEM's three-step strategic development plan disclosure shows the layout of the Northeast market has become the third-step strategic objectives of the plan. Yoshimine plans south of the Yangtze on the basis of steady growth performance, relying on capital markets, fast occupation of northeast, north major grain producing areas, and by 2013 we will complete the layout.

Why listing a few months time, Jifeng Nong machine quickly develop and implement the third goal in the Northeast region, "clearly place an extra siege"? Analysis of the industry who have put forward three reasons: First landing Venture Board, for the implementation of equity acquisition provided sufficient funds. Ji Fengnong machine planned public offering to raise funds required for the project plans to 197.5 million yuan, but the actual realization of ultra-plan for the 182.9 million yuan to raise funds, the funds raised 360.4 million yuan, which is the size of the expansion Jifeng Nong machine to create the conditions for the development of .

Second, pressure from capital markets. While chairman Wang Xinming Ji Fengnong machine recently received financial channel CCTV interview, said Ji Fengnong machine is not very concerned about the volatility of stock prices, however, is topped 5 billion yuan worth, the times of the price-earnings ratio, and "agricultural Suning" concept, high above the stock price and the Peoples shareholders concerned about the company are virtually put pressure on operators. These factors are implicit in promoting Jifeng Nong machines accelerate the implementation of its strategic objectives.

by: gaga

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