China's electronics enterprises are facing a new round of foreign investment, "baptism" – electronics, home appliances, electrical appliances – HC Network Appliance Industry
Year at the turn of
Capital
Markets staged spectacular show for several birth to many of the industry
Association
. The end of 2005,
TCL
Group's profit building technology and the International Electrotechnical transferred to France Legrand Group, the Group will be held by Xoceco Xoceco 58.27% of corporate shares in the 32.64 percent stake in Chunghwa Picture Tubes transferred to wholly owned Chinese company Chunghwa Picture Tubes (Wujiang) Co., Ltd., Bird and Sagem jointly announced the establishment of R & D Co., Ltd. Ningbo Bird Sagem Sagem fight back rumors of possible acquisition of Bird. The first trading day of 2006??? 4 January, the Ministry of Commerce, the SFC promulgated the five ministries of "foreign
Investment
Those of listed companies for Strategic Investment, "allowing foreign investment in stocks and newly listed companies G. Day, reported the Shanghai and Shenzhen are red disc collection, there are investors suddenly to be seen as a New Year "red envelope."
Next question is how Chinese companies will face a new round of foreign investment, "baptism"?
100 billion yuan a red envelope a bit "hot"
Some analysts believe that "foreign investors in strategic investment management practices of listed companies," the goal is clear, namely, the introduction of strategic investors, listed companies, to maintain order in the securities market, the introduction of foreign advanced management experience, technical and financial to improve the governance structure of listed companies. It stipulates that the investment could be phased, with initial investment, not less than 10% of the shares, and may not be transferred within three years; investors, the Ministry of Commerce shall submit its parent company investment behavior of investors, jointly and severally liable for irrevocable commitments letter and so on. Moreover, foreign investors should purchase agreement, a listed company issuing new shares directed approach and
Laws and regulations
A specified otherwise acquire shares. Industry
Expert
It is expected that there will be hundreds of billions in capital flows A-share market.
Galaxy Securities chief economist Zuo Xiaolei that, G Unit has not fundamentally change the governance structure of listed companies and management level, the entry of foreign capital would lead the company's business, management,
Finance
And governance in all ability to make the company more growth, more standardized and transparent operation. But the face of powerful multinational capital campaign, some of China's electronic information enterprises inevitably mixed. Hi, is that mitigation of foreign capital into the enterprise capital of the tension, the worry is the future of enterprise from the more difficult to control themselves. While the hundreds of billions of large packets streamed to share electronic information industry will not be too much, but the industry still feel the "pulse speed up."
Although the TCL, and Xiamen Overseas Chinese can not be obtained in the G Unit's "red envelope" but analysts say the two companies did at the turn of Year Two pen "big business" or noteworthy. Wang Guoping, an analyst at Galaxy Securities told China Electronics News reporter, though TCL International Electrical is one of the main industry, and profit in very good condition, but in TCL International Electrotechnical the proportion of income is not high, now under the TCL to find the right home and sold at very good prices, indicating that foreign promising future development of the International Electrotechnical business prospects. TCL International Electrotechnical will be stripped, so that more prominent main business, and improve the company's cash flow.
Zhongguancun, China Securities analyst Wang Qi told reporters when the newsletter with the "only better, not the best" to comment on CPT acquisition of Xiamen Overseas Chinese Electronic. He believes that, in general, good to both sides. Xoceco obtained
Panel
Resources, CPT protect its own market and get into the whole machine market
Brand
And channels. CPT as a leading component suppliers, are expected in the mechanism, international experience and so on greater support to the Xiamen Overseas Chinese. But on the other hand, it must be noted that large shareholders as upstream suppliers, I do not know whether it will restrict the freedom of Xoceco procurement, especially when the oversupply in the next panel. In addition, CPT focuses on
Monitor
Parts manufacturing, brand, channel and so help bring Xoceco may be limited.
M & A wave is caused
TCL and Xiamen Overseas Chinese actions seem to let people see the pace of foreign acquisitions of Chinese enterprises in the speed. Guotai Junan Securities Research Institute reports a recent study that, in the next five years, the introduction of foreign capital in China is expected to reach 50 billion U.S. dollars scale, the average annual growth rate of 17% or more, of which a considerable portion of funds will be used for acquisitions.
Joint Security Analysis
have an estimate of marine normal, he said, the future industrial investment because of the release of further active policy, the amount of money will be far greater than the current QFII quotas granted 10 billion U.S. dollars.
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