Cross-border industries into the M&A tide?
2019-09-21 浏览 普通资讯        作者: admin
September 21, the editor learned that the cross-border announcement, the actual controller of the company Yang Jianxin, Fan Meihua couple and Xinyuruijing Enterprise Management Services Co., Ltd. (hereinafter referred to as "Xinyuruijing") and Guangzhou Development Zone Emerging Industry Investment Fund Management Co., Ltd. (hereinafter referred to as "Emerging Fund") signed the "shares". Agreement on Transfer of Rights and Agreement on Entrustment of Voting Rights. Emerging funds will become the largest single voting shareholder of the company.
After the transfer of shares and the entrustment of voting rights have been completed, the proportion of the new funds with disposable voting rights in the company accounted for 22.02% of the company's total equity, becoming the largest shareholder of the company with single voting rights. The actual controllers of the cross-border company will no longer be Yang Jianxin and Fanmeihua couples.
The minor edition notes that the transfer of cross-border shares has the meaning of "twists and turns". On June 6, the actual controllers of the company, Yang Jianxin, Fanmeihua couple and Xinyuruijing, signed the Framework Agreement with Jinrudder Investment and planned to transfer some of their shares to Jinrudder Investment. However, due to the failure of the parties to reach agreement on the content of the transaction plan, the decision to terminate the cooperation was made. The parties signed the Termination Agreement on September 11, 2019. The next day, cross-border facilitation signed the Framework Agreement for Cooperation with the Emerging Fund.
One of the important reasons for the rapid transfer of equity with emerging funds is the tight liquidity of funds. Emerging funds are also rapidly replenishing "ammunition" for cross-border traffic. On the day of the signing of the Equity Transfer Agreement, a loan agreement was signed with Cross-border Communications, and RMB 400 million yuan was lent to supplement the day-to-day operating funds of Cross-border Communications and to repay bank loans. Cross-border Tong also said that the new fund for the company to provide loans, can optimize the debt structure of the company, ease the pressure of liquidity, in line with the fundamental interests of the company.
Xiaobian found that the cross-border e-commerce industry seems to have ushered in a period of investment M&A boom. On September 6, Netease and Alibaba announced a strategic cooperation. Alibaba Group wholly purchased Koala, a cross-border e-commerce platform owned by Netease. The deal cost about $2 billion, including $1.7 billion in cash and about $14.3 million in newly issued common shares of Alibaba, worth about $300 million, more than Tencent's share in Jingdong in that year, after Alibaba's $28.3 billion share in Suning Easy to buy.
It happens that there is a similar case. On September 16, Huakai Creative, a listed company, issued a draft of the major asset restructuring transaction. The company intends to purchase 90% of the equity of the cross-border e-commerce company Yibai Network by issuing shares, convertible bonds and paying cash. The transaction is valued at 1.512 billion yuan.
Since this year, policy dividends have been pouring in, and cross-border e-commerce is still developing at a high speed. Half of the progress bar for 2019 has passed. In the new cross-border e-commerce business, the government has introduced a series of positive measures. Specifically, on the basis of the existing 35 cross-border e-commerce comprehensive pilot zones, according to local wishes, a number of pilot cities will be added; e-commerce retail exports in cross-border e-commerce comprehensive pilot zones will be implemented with the policy of "no ticket and tax exemption"; service platforms for cross-border e-commerce development will be encouraged, and service systems such as supporting logistics will be established; and international efforts will be strengthened. Exchange and cooperation, and actively participate in the formulation of relevant international rules for cross-border e-commerce.
In addition, the Research Report of Roland Berger, an international management consultancy, shows that cross-border e-commerce is increasingly influential in China's import and export trade, and will become a new growth point of China's foreign trade development in the future. It is expected that the proportion of cross-border e-commerce trade in China's overall foreign trade will further increase by about 15 percentage points in five years.
Despite the promising market prospects, the parties involved in the competition are constantly upgrading, reloading, and industry development is increasingly towards capital-intensive and resource-intensive. In September this year, Ali announced the acquisition of NetEase Koala for $2 billion (about 14 billion yuan), the largest acquisition in the cross-border e-commerce sector in China. Strong alliance also makes the competition in the market more intense. It is expected that the integration of resources inside and outside the industry will continue.
However, the activity of investment M&A has been improved, except for the reasons of good prospects and low concentration of the industry. Cross-border e-commerce is a heavy asset industry and an important reason. Especially cross-border e-commerce services involve trade between two countries. The requirements for supply chain construction, logistics services, customs clearance and marketing are much more complex than domestic trade.
This year, however, just in the downturn of the global economy, together with the rise of trade unilateralism and the intensification of trade frictions, all have led to the rise of foreign trade costs. Therefore, capital circulation is a thorny problem faced by cross-border e-commerce industry. In the fierce industry competition, if cross-border e-commerce wants to further enhance its competitiveness, it obviously needs more resources and capital to "boost" the strength of shareholders, so it is natural that there will be a tide of mergers and acquisitions.
(Source: E-commerce Newspaper)