Qingdao Double Star Abandoning Shoes Industry 67 Years Old Wang Hai Plate

After the divestiture of Qingdao Binxing (love share, quotation, information) Limited by Share Ltd (000599.SZ, hereinafter referred to as "Qingdao double star"), the chairman of the company and the only first generation entrepreneur in China's state-owned enterprises, Wang Hai, may continue to dream of their footwear industry by borrowing from their businesses.

In October 12th, the Qingdao Double Star shoe business asset pfer project was officially listed on the Qingdao property exchange, and performed the program of "recruiting, shooting and hanging".

Publicity time as of November 8th.

This newspaper understands that the assets of Qingdao double star shoemaking business will be pferred to Qingdao Double Star Industrial Limited by Share Ltd (hereinafter referred to as "celebrity industry"). "Now it is only a matter of performance."

In accordance with the design of Qingdao SASAC, the implementation process of asset pfer of Qingdao double star shoe-making business is "in line with the overall reform of celebrities in the process of implementation".

Qingdao double star is currently undertaking a business restructuring.

Since entering the tire industry in 2000, Qingdao Binxing has invested nearly 1 billion yuan in the development of the tire industry.

And the asset pfer of shoemaking business will further clarify its main business.

At present, the shoe making business is about 10% of its main business.

11, the tire Association of China Rubber Industry Association told the newspaper on this day that the double star tire business was of a general scale. After the acquisition of Dongfeng tires, the position of the double star tyre increased significantly, and entered the top ten, especially the all steel radial tire, which reclaimed "China's famous brand products".

The profits and profits of the two star group are mainly from the Qingdao tire industry.

In the first half of this year, the company completed its operating income of more than 2 billion yuan, and the operating income of tires exceeded 1 billion 700 million yuan, an increase of 43.33% over the same period last year.

The sales revenue of footwear products reached 160 million yuan, down 1.15% compared with the same period last year.

In recent years, the income of Qingdao Twin Star tire business has increased from 300 million yuan in 2000 to 700 million yuan in 2001, to 1 billion yuan in 2002 and 2 billion 500 million yuan in 2006.

According to this newspaper, the core of the overall reform of celebrities is the complete withdrawal of state ownership.

The celebrity industry established in September 16, 2002 is a related trading partner of Qingdao's twin star. It belongs to the parent company's Twin Star Group. It is a Limited by Share Ltd jointly established by the Twin Star Refco Group Ltd (hereinafter referred to as the "double star group"), the Binxing group trade union Committee and three natural shareholders.

Wang Wang Hai is the largest shareholder of the company, investing 6 million 900 thousand yuan, accounting for 21.88% of the shares, and chairman of the board.

The other four major shareholders are 5 million 230 thousand yuan invested by the two star group, 16.59% of celebrity industry, 16.65% of the trade union shares of the Binxing group, and another 1 million 700 thousand natural shareholders investing 1 million 700 thousand yuan and 570 thousand yuan respectively.

The main business of the company is the production, packaging and sale of all kinds of shoes, the production and sale of sportswear.

By the end of 2006, the assets of celebrity industries totaled 160 million yuan, and realized the main business income of 67 million 70 thousand yuan, with a loss of 3 million 190 thousand yuan.

The shoe making business of Qingdao is pferring the assets of the two star shoemaking business to the celebrities industry.

In October 12th, the Qingdao double star footwear business asset pfer project was officially listed on the Qingdao property exchange, to fulfill the procedures of "recruiting, photographing and hanging".

Publicity time as of November 8th.

However, the pfer notice only refers to "a company" without referring to Qingdao binaries.

Qingdao Property Exchange staff told the newspaper that this is the requirement of the enterprise.

As early as last April 24th, Qingdao double star and celebrity industries signed the agreement on asset pfer. The two sides agreed that the company would pfer all the footwear production assets to the celebrities industry. The pfer price would be based on the value of the assets pferred in December 31, 2005, and the price would be about 110 million yuan. The footwear assets to be pferred mainly include plant, machinery and equipment and land for production management.

However, because of the doubt about the purchasing power of celebrities and the legality of the acquisition procedures, they were once stranded, and even the chairman of Wang Hai was once questioned about "turning state-owned assets".

In order to legalize the acquisition process, in October 9th, the Qingdao double star announcement commissioned the qualified Hubei Min Xin asset appraisal company to evaluate the sale assets and form the "e Xin commentary" (2007) No. 088 asset appraisal report. The acquisition will also be carried out according to the legal procedures of the public bidding of state-owned assets pfer, and the procedures of "recruiting, photographing and hanging" shall be carried out.

Celebrity industry is a must for Qingdao double star shoemaking business assets.

However, according to the rules of Qingdao property rights paction, after double star shoe making business "recruit, shoot, hang up", since it is a public auction, it may also produce new buyers.

In accordance with the net value of the assessment, the asset has increased from 110 million 159 thousand and 800 yuan to 132 million 873 thousand and 400 yuan.

The base price of the paction is from 128 million 440 thousand and 800 yuan, the pfer of assets includes 991 shoe making equipment, 17 vehicles, 137 office equipment, and a real estate, land and so on.

It is learnt that the double star footwear industry, which sells double star brand, is an intangible asset. The use of the double star group and other external enterprises will have a great difference in cost, so as to raise the threshold for other buyers to enter.

The first generation of entrepreneurs, Wang Hai, aged 67, has been operating double stars for 34 years, from the state-owned factory director and Secretary to today's president and chairman.

"As the first generation of entrepreneurs in China, I am still active in the market line. I am the only one who works in the state market. I am a factory director and Secretary for 34 years in a double star factory. I understand that I am afraid I am the only one."

Wang Hai said in a speech at the end of August this year.

Wang Hai has worked as a twin star for two stars in 34 years, and has built up a two star brand, especially the shoemaking business. He has devoted his whole life to creating a mature sales network and a high degree of brand awareness, making binary stars the most important shoemaker in China.

Wang Hai evaluated himself: "I am an adventurer, a pioneer, a winner and a survivor.

The brand name of "double star" in China is that I have led my staff colleagues to come out. I am the founder of double star. This is a fact.

"Wang Hai is a typical representative of China's reform and opening up as well as the early stage of industrialization," he said. "It's based on personal wisdom, courage and charm to create a brand," said an executive in Qingdao.

Quan Xijian, director of the school of management and director of MBA Education Center, Ocean University of China, said Wang Hai has turned an old state-owned enterprise into a company which is basically consistent with the Haier, strong independence and strong market adaptability. It can create a double star brand and become a well-known brand name, which is very valuable. It is the personal charm and creative spirit of Wang Hai.

Because the background and foundation of double star enterprises are different from those of other brands, we should give Wang Hai a higher score.

Although Wang Hai has made outstanding achievements, as a state-owned enterprise operator, Wang Hai has no personal shares in Qingdao's twin stars, and is a worthy senior worker.

For the recent rumors that Wang Hai asked for retirement and wanted to retire to celebrity industries, Wang Hai responded to the newspaper by the head of the Propaganda Department of the double star group in October 16th. He denied that he wanted to retire in the near future. He said that as a cadre in charge of Qingdao City, "let me do a day in the city, I will do a good day", so that enterprises can develop better and let 60 thousand people have dinner.