Changjiang Commercial Daily News ● Changjiang Commercial Daily reporter Shen Yourong
Super 5.7 billion debt -to -equity, Huaibei Mining (600985.SH) is intended to "reduce the burden" as a core subsidiary.
According to the recent announcement, Huaibei Mining intends to increase its capital to Huaibei Mining Co., Ltd. (hereinafter referred to as "Huai Mining") of wholly -owned subsidiaries by debt -to -equity swap.
Announcement stating that the debt -to -equity swap is to further optimize the asset -liability structure of Huai Mine, enhance its capital strength, and meet future business development needs.This capital increase is an internal resource optimization allocation.
The predecessor of Huaibei Mining is thundericization. In 2018, Huai Mine Co., Ltd. was listed. The main body of the backdoor was Huai Mine, with a transaction price of up to 21 billion yuan.
Huai Mine is the core subsidiary of Huaibei Mining. In the first nine months of this year, its net profit realized was 3.669 billion yuan, accounting for 88.64%of the companys net profit.
Huaibei Mining is mainly based on coal mining and coal chemical industry. Since the backdoor listing in 2018, the company has a cumulative profit of 32.799 billion yuan.Correspondingly, the company has distributed a total of about 10.9 billion yuan in cash dividends.
Huaibei mining has continuously improved its scientific and technological content. From 2018 to 2023, the companys R & D investment reached 9.372 billion yuan.
5.7 billion debt -to -equity to optimize resource allocation
Huaibei mining throw a big action, intending to optimize the internal internal Resource allocation.
According to the announcement, in order to further optimize the structure of Huai Mines asset -liabilities, enhance its capital strength, and meet the future business development needs, Huaibei Mining intends to switch to Huai Mine shares in the way The capital increase was about 5.718 billion yuan.The matter has been approved by the board meeting. The matter is within the scope of the decision -making authority of the board of directors.
Huaibei Mining has implemented two issuance convertible bond financing.In December 2019, the company publicly issued a 27.574 million convertible bonds to the society, and the total amount of funds raised was about 2.757 billion yuan. After deducting the issuance costs, the net raised funds raised about 2.738 billion yuan.In this funds, the company provided it to Huai Mines shares through borrowing. Among them, Huai Mine Co., Ltd. purchased 485 million yuan in intelligent coal mining working noodles, repaying the debt of about 680 million yuan, and the remaining 1.573 billion yuan was used for its wholly -owned subsidiaries. < !-ACADEMICWORD#0-> (hereinafter referred to as "Carbon Xin Technology") implemented a comprehensive utilization project of coking furnace gas.
The above borrowing period is 5 years from the date of the actual borrowing.As of September 2022, the above -mentioned fundraising projects have been implemented.
In September 2022, Huaibei Mining once again issued convertible bonds, with a total amount of raised funds of 3 billion yuan. The mining shares provided about 1.881 billion yuan (repayment of 681 million yuan in debt, an increase of 1.2 billion yuan to carbon Xin technology), and provided carbon Xin technology to provide loans of 1.1 billion yuan for the implementation of comprehensive methanol use projects.The two borrowing periods above are 5 years from the date of the actual borrowing, and the borrowing interest rate is implemented at the actual interest rate of convertible bonds.As of now, the above -mentioned fundraising projects have been implemented.
Announcement stated that in order to further optimize the structure of Huai Mines asset -liabilities, enhance its capital strength, and meet the future business development needs, the company intends to raise a debt -related debt of about 5.718 billion yuan Increase the capital to Huai Mine, of which 3.249 billion yuan was included in the registered capital of Huai Mine, and the remaining 2.470 billion yuan was included in the Huai Mine Capital Capital Capital.After the completion of the capital increase, the registered capital of Huai Mine has changed from 6.751 billion yuan to 10 billion yuan, which is still a wholly -owned subsidiary of the company.
From the above operation, the two convertible bond financing carried out by Huaibei Mining is actually raised for Huai Mine shares.
Through debt -to -equity switching, the financial status of Huai Mine shares will greatly improve, and the pressure on debt repayment will be greatly reduced.
It is worth mentioning that Huai Mine is the core subsidiary of Huaibei Mining. In the first three quarters of this year, its operating income was 71.884 billion yuan, 55.09 billion Yuan, net profit was about 5.566 billion yuan and 3.669 billion yuan, respectively.
From the perspective of revenue and net profit data in the first three quarters of this year, the revenue and net profit of Huai Mine shares account for 96.87%and 88.64%of Huaibei Mining, respectively.
In the first three quarters of R & D investment of 1.64 billion
The core subsidiary of the capital increase of capital, which is the focus of Huaibei Mining. The manifestation of the main business.
The predecessor of Huaibei Mining is thundericization, the production and sales of a main business of civil explosion products, blasting services, and non -coal mines mining?From 2014 to 2017, the companys annual net profit attributable to shareholders of the parent company (referred to as "net profit") wandered around 100 million yuan.
In 2018, Lei Mingke used the combination of issuance of shares and payment of cash to purchase the total holding of Huai Mine Group, Cinda Assets, Wanneng Group, Baosteel Resources, etc. 100%of the shares of Huai Mine shares, the evaluation value of 100%equity of Huai Mine shares is 20.916 billion yuan (deducting 1.994 billion yuan in permanent debt shown in the owners equity items).After adjustment, the evaluation value of Huai Mine shares was 21.068 billion yuan, and it was used as a transaction price.
At the same time, the company raised supporting funds of 630 million yuan.
According to the performance commitment, from 2018 to 2020, the net profit of deducting non -recurring profit and loss (referred to as "non -net profit") achieved by Huai Mine shares is not less than 26.74 billion, respectively. The yuan, 2.581 billion yuan and 2.350 billion yuan, the cumulative three years of cumulative no less than 7.605 billion yuan.In fact, the three -year deduction non -net profit reached 9.039 billion yuan, exceeding the commitment.
After the backdoor listing of Huai Mine shares, the company continued to increase its main business and acquired many companies such as Luzhou Coal Industry, Yangliu Coal Industry, and Qingdong Coal Industry in Anhui.
The reporter from the Yangtze River Business Daily found that since the backdoor listing, the cumulative net profit realized by Huaibei Mining has reached 32.799 billion yuan, and the company has distributed a total of 10.91 billion yuan in cash dividends.
Huaibei has a strong profitability. In addition to having the advantages of coal type and coal quality, the company itself is also an important factor in continuously improving mining technology and craftsmanship.According to the company, its processing and washing capabilities ranks among the top in the coal industry. There are currently 4 coking coal selection coal factories. Among them, the annual washing capacity of 16 million tons of Linzheng Coal Selection Plant (Comprehensive Coal Selection Plant) is located at the forefront of China EssenceThe technical level of the coking coal -selected coal factories ranks among the forefront of the industry.
Huaibei Mining invested a lot of funds for research and development.Since 2018, the companys R & D investment has reached 11.012 billion yuan. Among them, R & D investment in the first three quarters of this year was 1.640 billion yuan.
