TTNEWS
  • entertainment
  • Sport
  • Finance
  • tec
  • Travel
  • military
  • Parenting
  • fashion
  • game
  • history
  1. home
  2. finance

Greentown Services Overseas Acquisition M & A Study

2024-11-11 23:52:11

Viewpoint Index Recently, the Greentown Service Announcement stated that wholly -owned subsidiaries intend to sell some of the equity of MAG.

About 11.64%of them were sold to Montessori Academy Trust at the cost of $ 16.2 million; in addition, MAG agreed to repurchase about 10.78%of the share capital, the repurchase price of $ 15 million, the above, the above, the above, the above, the above, the aboveThe net income has a total of $ 31.2 million (approximately RMB 147.7 billion), which will be used as general operating funds.

It is reported that Greentown Education Investment Co. LTD, a wholly -owned subsidiary of Greentown Service, was completed on July 5, 2019 at a total cost of about 50.2676 million AUD (about RMB 240 million).The acquisition of about 56%of the MAG share capital, which originally planned to support its large -scale development of Chinese early childhood education related business through the Australian education system and business model, which was originally planned to use MAG. Now it is expected that the target cannot be achieved in the short term, so it is chosen to sell.

But the Greentown service mentioned that it will continue to explore new cooperation methods that are more in line with their respective interests with MAG.

Earlier, the real estate enterprise explored community value -added services as a new growth pole. Greentown service in the business sector and the large -scale asset -based operation of the recreational business of the business sector were operated.In recent years, the companys investment impairment has been dragged down.

Analysis of profit and loss

Announcement, MAG (Montessori Academy Group Holding Pty. LTD.) The main business is to follow the Montetongry course and systemXiang Babies (0-12 years old), young children (2-13 years) and preschool children (3-16 years old) provide education and child service and provide daily teaching. At present, more than 55 childcare centers are operated in Australia.

Data show that MAG operates more than 20 kindergartens in Australia at the time of acquisition. As of June 30, 2018After tax, the profit after tax reached A $ 4.565 million, $ 2.928 million and A $ 30.45 million, respectively.

Source: Greentown Service Announcement

In the latest announcement, MAG has fallen sharply after tax removal.The post -profit profit was only 1.17 million, and in 2023, it fell 75.43%year -on -year to A $ 288,600.

Comparison before and after, the size of the MAG business is generally increased, but the profitability declines significantly, and it is difficult to ensure that there will be no losses in the future.Essence

In addition to the profit from the acquisition, Greentown Service this time sold and repurchased stocks to recover the cash of A $ 31.2 million, and it is expected that the unprecedented income of approximately $ 16.8 million (quite equivalent (quite equivalentIt was RMB 82.1 million).

At the same time, after the sales and repurchase matters are completed, the Greentown service will also hold about 35%of the MAG share capital.The average price of%of the share capital was 1.3916 million A $ $ 48.7065 million, the remaining 35%share capital, and the total of two AUD 79.065 million.Compared with the purchase price of $ 50.2676 million, Greentown has achieved profitability.

Source: Greentown Service Announcement

In addition, after the sales and repurchase matters are completed, the seller, CCA, Charles Peter assaf (own CCA50 50%) And Greentown Services will establish a basis for putting and subscribing to options. Options include 3,271,757 "A1" ordinary shares in MAG equity, which is equivalent to about 31.49%equity of MAG during the announcement date.

Based on this, CCA will award the sellers delivery option to request CCA (or the combination of its reputation or MAG and CCA or its celebrities) to purchase option shares;Achieve options to CCA to sell options shares to CCA (or a combination of its reputation or MAG or CCA or its reputation).

For the green city service, through setting up the options of the storage and subscription, you can hedge the market risk of the MAG share capital held by it.The loss of options will be reduced; if the stock price rises, the green city service can increase the income by exercising the subscription options.

In general, compared with some real estate enterprises to make large -scale impairment of the acquisition, the Greentown services investment risk control of MAG is quite timely.

Mourning Winds

The property companies around 2020 are the "darling" of the capital market. In order to make large -scale and increase valuation,The acquisition of mergers and acquisitions became the hottest choice at that time.However, some real -life companies subsequently revealed the quality of the target or after the after -investment integration. The operating efficiency decreased and the cost increase.

For example, Country Garden Services shareholders shareholders accounting in 2022 fell by 51.8%year -on -year to 1.943 billion yuan, and the first net profit decline in net profit since listing is the impairment of goodwill.Data show that in 2022, amortization such as mergers and acquisitions and intangible asset impairment, the contracts and customer relationships generated by mergers and acquisitions reached 1.77 billion yuan and 1.08 billion yuan, respectively.

Specifically, the impairment of the honorary service providers of Country Garden mainly revolves around the three acquisitions, and confirmed that the goodwill impairment of Jiabao services, Caixin services, and Wuhan Xueyu reached 11.82, respectively.100 million yuan, 445 million yuan, 109 million yuan.Among them, the management evaluation of Wuhan Xueyus operating performance will continue to be longer. After confirming that the reputation is impaired, the book value of Wuhan Xueyus goodwill and brand has decreased to zero.

Greentown services have also stepped on the "pit" of mergers and acquisitions.

2023 Greentown Service Make an impairment of 191 million yuan, resulting in the growth rate of net profit during the year lower than the core operating profit growth rate.Among them, the investment impairment reached 154 million yuan, which specifically the replacement of convertible bonds issued by China CVS Holdings Limited and China CVS Holdings Limited.

It is understood that China CVS is a joint venture that serves Greentown Services in 2017 Lianxian Life and Anxianda.The price of the US dollar (equivalent to about 558 million yuan) acquired the Beijing chain convenience store brand "good neighbor" from Morgan Stanley.However, the following factors such as the epidemic and consumption downgrade have continued to decline in the physical retail industry.

Xia Yun, the companys chief financial officer, said at the March performance meeting that the CHINA CVS will be deepened in the future.The chain has begun to take substantial improvement measures; the capital level will link external investment banks at the capital level and try to introduce strategic investors.

In the process of exploring the growth point of the community value -added service, Greentown Services used a heavy asset model for the large -scale asset model in cultural education and recreational business.

From the perspective of results, the revenue of the park service (that is, community value -added services) remains a growth trend, but the growth rate has slowed down from the mid -2023 increase of 26.5%year -on -year to 2024 to 2024The year -on -year increase of 6.1%year -on -year reached approximately 1.758 billion yuan; the gross profit margin decreased by 0.4 percentage points to 23.9%compared with the same period in 2023.At the same time, low net interest rates are also one of the characteristics of the overall performance of Greentown services. As of the four reporting periods in the middle of 2024, the companys net interest rates are 4.3%, 5.27%, 4.1%and 5.8%, respectively.

Management also hopes to increase the net interest rate. Earlier this year, the strategy of "will return to and cultivate the park business".Some opinion believes that, in addition to the pressure from revenue and profit, diversified development, especially heavy asset investment layout, is currently the main cause of business adjustment.family

Popular information
  • Extend the trading time of A shares!The four major news this morning is fully fermented (11.11)! | 2024-11-11 22:50:12
  • What makes Lao Mei scare is the biggest trump card in China, not US debt, but a manufacturing card neck | 2024-11-11 22:50:16
  • The rich second -generation Zhejiang merchants fled to Japan, and the fall of 1,000 catties of gold in the company was unknown | 2024-11-11 22:50:19
  • The central bank announced: The third house is officially approved! | 2024-11-11 22:52:10
  • Low -altitude economy: the vast blue ocean under the new economic wave | 2024-11-11 22:53:42
  • The historical mission of A shares has a major turning point | 2024-11-11 22:53:46
  • What is the main business of red dragonfly in selling shoes? | 2024-11-11 22:54:04
  • 10 trillion yuan in debt measures affect the capital market geometry?The latest interpretation of the institution | 2024-11-11 22:55:26
  • The Federal Reserve Trump, the prospects of the US dollar reduction, the RMB change, a new round of harvesting? | 2024-11-11 22:56:11
  • China Securities Overseas Overseas Mainland Public Business Index was reported at 787.01 points. | 2024-11-11 22:57:13
  • Zhejiang Interconnection rose 5.25%to 6.22 yuan/share | 2024-11-11 22:57:29
  • Chinese navigation rose for three consecutive trading days, and the cumulative increase of 7.20% during the period | 2024-11-11 23:00:10
  • 2 large transactions occurred in Noipin, with a discount rate of 8.89% | 2024-11-11 23:00:17
  • China Securities Shanghai Shenzhen Shenzhen 500 Financial Index was reported at 2038.44 points. The top ten weights include CITIC Securities and so | 2024-11-11 23:00:20
  • 440 million Easy Lord National Energy Group in Western Entrepreneurship ranked among the first three quarters of the central enterprise earnings exceeded 200 million asset -liability ratios | 2024-11-11 23:05:55
  • Shengke Communications rose for 3 consecutive trading days, and the cumulative increase of 33.08% during the period | 2024-11-11 23:06:00
  • The financing is explosive!Tour money and retail investors have become the main force of additional positions, and A -share semiconductors and lithium batteries are favorable | 2024-11-11 23:18:28
  • Evaluation: Science and Technology 50 Index rose 4.7% chip plate nearly 50 stocks in nearly 50 stocks | 2024-11-11 23:20:49
  • The starting price is 1.412 billion yuan!Beijing Shunyi 180 set of Fengqiao villas overall auction | 2024-11-11 23:22:01
  • Entrepreneurship market (399293) closed up 3.08%, and 48.06%increased in the past 3 months | 2024-11-11 23:27:57
  • Suddenly soaring!Over 210,000 people, it is out of position | 2024-11-11 23:31:30
  • Lu Zhihe died, at the age of 95 | 2024-11-11 23:32:58
  • Haozhang Medical closed down 4.36%, and the main funds of the main funds outflow of 52.4319 million yuan | 2024-11-11 23:36:25
  • Tianguang Shishi ’s launch of three and a half years losses 950 million. Three -year -old IPO fundraising scale shrinks by 78% | 2024-11-11 23:39:04
  • Resume trading!Collective daily limit! | 2024-11-11 23:39:07
  • Huaying Technology 10 Langua major shareholders have taken the opportunity to cash out 140 million in the past 9 years of non -accumulated loss of 14 billion asset liabilities to 75% | 2024-11-11 23:39:14
  • The stock market cattle!Central Bank: National deposits have dropped by 570 billion yuan | 2024-11-11 23:41:39
  • TSMC wants to disconnect 7nm chips?Semiconductor ETF is full of screens, depending on this subdivision direction | 2024-11-11 23:41:43
  • After the trading 丨 rises again, focus on this point, and an important signal is about to appear! | 2024-11-11 23:41:45
  • The reporting group will shut down 5 news clients | 2024-11-11 23:41:49
Latest
Happy Bao | Dream of Dream Medicine Bloom -Graduate Students from our hospital won the second prize of the Capital Medical University 2024 Speech Contest Personal evaluation of the 30 -year history of the best lineup of Ma Lai can barely enter the bench The domestic "three major airlines" C919 aircraft gathered in Chengdu!Practicing flying and going north Shangguang Parents do this to break the "only performance theory", and each child can bloom unique light She, sent a letterless letter to the moon Old cup bonus super lpl champion!Attract the old We Korean aid: I want to support the championship, I want to raise children In 2025, the statutory holidays have been added for 2 days. What is the true attitude of tourism practitioners? What does the PPT look like by Lin updated?After reading it, I was cried by ugliness Beiqing: After the National Football Team Barin will return to Xiamen for the afternoon of the 15th, the 15th day of the 15th National Football Team VS Balling 23 people List exposure: Xie Wen can suspend the race!Fourth goalkeeper+flying wing failure selection The best element of the Super League announced, Wei Shihao missed, 4 people in Shanghai, Luneng 2, Wu Xi was surprised Ding Yongxun fell in love with Zhao Xuehua at first sight and loved each other for 37 years. Now the 36 -year -old son makes him worry Ye Ke has not seen Huang Xiaoming in the checkup. Paparas have been exposed to 5 months of pregnancy. The 24 -year -old Fan Ye compared the 28 -year -old Shi Yunpeng. Aspen: Mbappe has been silent after joining Real Madrid for 4 months. Only 2 interviews have been accepted in 4 months Chen Meng withdrew!Instead, Sun Yingsha was forced to have both and gave birth to 2 questions. What did Ma Lin think? It is the lowest -key county in Shanxi, with world -class famous mountains, but few people know the county name! Ye Ke promised to return the net to cancel the account again as a demon again!Huang Xiaoming is lazy, Ye Ke is alone for pregnancy! Big!Blast Yang Zi accompanied by sleeping: evidence has been obtained, involved in many popular actresses, more synthetic streams out "The Lane Family" Zhuang rushed to drive away his parents and forced Pengfei to buy a house. Only then did you know that Zhuang Chaoying was very lucky Wang Xiaofei hit Big S: A wedding with Ma Xiaomei will be re -wedd, Ma Xiaomei threw out propositions Who is the most runner -up in the World Cup?The Dutch Three Entry Finals are defeated, Argentina is tied, and the other team is the most The Clippers regretted, Harden 19+6+7, after the game, Harden walked towards the Rockets bench, hugged Ethan to pay attention to Rockets 111-103 Clippers!Player scores are released: 4 people are full, 3 people pass, 2 people pull their hips! No accident, this will become the main framework of Amurin Manchester United! Choose a rational student in kindergarten?Can "Run Run" Education really win on the starting line? British PS5 Pro price or permanent drop: the largest retail sales leading price reduction The 19 -day box office broke through 3.3 billion and won the global championship. The strongest movie this year was born. Daolang: The Macau concert is well received, and I won the two former CCTV host of Zhao Pu Li Xiaomeng. 2024 Inner Entertainment is to be exploded, only one year, the gap is obvious Lei Jun is jealous. Xiaomi SU7 has 100,000 offline and 100,000 orders. Guangzhou house tickets can buy new houses in the city!Expert: It is necessary to make the demolished households realized that in the past It is said that the Chery FR Division was established, and the headquarters is located in Shanghai Win 20 points!Du Feng won the first victory, and the new aid 23 points hit a new high. The chef should describe the job from the teachers and students and parents, and the supplier will not run away. Thirty points defeated, the CBA Journey really walked over?The three major foreign aids in Zhejiang broke out, and genius teenagers burst and burst The transformation of Jinji Co., Ltd. suffered a decline of 922 million large orders to terminate the operating pressure of 8.82 million yuan in the first three quarters. 4 games 0 goals!The number of shooters is lost, Alda is deeply trapped in the mud, and the situation of winning the championship deteriorates Crown: 0 to 4!The fatigue is shown. In the first round, Trump took Ding Junhui lightly Korean dramas have evolved to the male lead, no male lead is required The performance benchmark covers the global stock market and gold, and the world is actively configured with FOF to open the closed period CITIC Securities A shares increased by 60% of Yuexiu Capital to reduce holdings by 1% or cash out 5 billion yuan Academician Qian Qihu: The domestic shield is going to the world. I hope that the younger generation of "Chinese tunnelers" will create further glory The whole Chinese class rushes for another year!BLG is highly likely to renew the contract, ELK renewal conditions are only one The husband takes the child to buy milk powder to bring it back to the PS5 Pro, his wife asked the Internet online, and the merchant sent God to assist The most surprising seven players?Downs first!Hilde, three goals on the list! Shenzhen Chuanyin Communications under Chuanyin was awarded the title of new "Little Giant" enterprise in the national specialized specialty The stock price of the market fell by 6.43%in the afternoon of US $ 13.37 in the US real estate investment Sure enough!6 major foreign aid blessings, old acquaintances return, Zhou Peng will lead the Shenzhen team to take off The Egyptian Museum opened the night exhibition tourists with close contact with Pharaoh

©2024 ttnews All rights reserved

Privacy Policy | Service Terms | contact us