Qingdao Port (06198) rose more than 3% as of press time, up 3.17% to HKD 5.86, with a turnover of HKD 10.2683 million.
According to the WiseNews app, Qingdao Port (06198) rose more than 3% as of press time, up 3.17% to HKD 5.86, with a turnover of HKD 10.2683 million.
On the news side, Qingdao Port recently announced a restructuring proposal to purchase 100% of the oil company, 50% of Rizhao Shihua, 53% of the United Pipeline, and 51% of the Gangyuan Pipeline from the controlling shareholder Shandong Port Group, with a total consideration of RMB 9.44 billion, including RMB 4.629 billion in cash; and payment through the issuance of 0.697 billion A shares. At the same time, it is proposed to issue new A shares to raise up to RMB 2 billion for the payment of cash consideration.
Cinda Securities pointed out that in this draft, the company adjusts the scope of the proposed acquisition of assets, removing assets with an ROE lower than 5% in the original plan. After the adjustment, the combined ROE of the proposed assets to be acquired in 2023 is 11.68%, which is higher than that of all listed companies in the A-share port sector except Qingdao Port. The bank pointed out that the ROE of the acquired assets is close to that of listed companies, but the valuation of the consideration is lower than that of listed companies; it is expected that this transaction will increase the company's EPS. In addition, the integration of Shandong Port is advancing, and asset restructuring will be accelerated within the province, but there are no relevant acquisition plans yet.