"Chen Xiao would like to receive some bet the back." Paradise and Dazhong Electronics that the news of the merger, Tsinghua University, China Ning Xiangdong, deputy director of Center for Economic Research subconsciously made that remark.
Phrase originated in Paradise and Morgan Stanley on the gambling agreements. January 2005, Morgan Stanley and CDH to 50 million U.S. dollars stake in Paradise, Paradise chairman Chen Xiao hands in exchange for 20% of shares in Paradise.
This resembles the year Mengniu Dairy, the transaction is Morgan Stanley is buried in a "foreshadowing"?
If Yongle in 2007 (available until 2008 or 2009) of net profit of more than 750 million yuan, foreign shareholders will transfer the management of 4697.38 million Yongle Yongle shares; if equal to or less than 675 million yuan net profit Paradise management to foreign capital and transfer of 4,697.38 million shares of shareholders; if net income does not exceed 600 million yuan, Wing-lok, foreign shareholders would transfer the management of up to 9,394.76 million shares, equivalent to Paradise total issued share capital after the listing ( Excluding the exercise of the over-allotment option) of about 4.1%.
Coveted 50 million U.S. dollars, Chen Xiao listed eager to set up their own chains of international investment.
Dazhong is the ATM Paradise? Paradise has been China Home Appliances Chain industry, the third son, however, that compared to big brother little brother
States United States , 2 Ge Suning has a far cry. Less than two-fold: First, sales volume, according to the 2005 hundred Chinese enterprises chain data, nearly 50 billion yuan GOME, Suning nearly 40 billion yuan, while Paradise is only a little over 15 billion yuan; Second, the regional company's image difficult to get rid of, even though Chen Xiao has been working to create national chains beat Paradise, and even spared no expense to forcibly enter the Beijing market, but with little success.
According to the annual report of 2005, Paradise, due to increased competition and network dilution, Paradise store sales per square meter, down 2.8%, its gross margins fell 0.6 percentage points to 6.9%. Only because of its outlets to increase, the supplier to sponsor a rose 134.7 percent, the income derived therefrom Paradise as high as 625 million yuan, the total return from the supplier (ie, rebates and sponsorship are two total) turnover rate, from 10.8% in 2004 increased to 12.1% in 2005.
This situation, Chen Xiao out what the cards do? Sales within the repair? He threatened to "level the market is always the best market" rate of Suning Appliance Suning president Sun Weimin has Sharu Shanghai market, to swagger around in front of Chen Xiao. The scale of foreign repair? Ever since the cards bigger CHEN, thinking out a Morgan Stanley are even known as "unexpected coup": and the capital's large and medium entrenched merger, the non-listed companies as large and medium electrical Yongle of the ATM , bet win, while Morgan Stanley to occupy an increasingly shrinking market.
Constant changes in Board A home appliance giants such comments CHEN: He is one of the most powerful, because he most calm, but also enough to Stern. CHEN no reason to be a Dukes only in Shanghai, so he has repeatedly changed Licensing Board, Morgan Stanley's favor is followed:
Film production, "in John Winton," Paradise acquisition platform to build.
2002 year, has been dominant in Shanghai's Paradise in the national market than Gome, Suning forces still low. The face of fierce competition, Chen Xiao Stern expansion of the early features, was launched in 2002 led, "in John Winton" procurement alliance with Beijing Dazhong, Henan Tongli, Shandong Yatai, Chengdu, department stores and other home appliances distribution companies reached a "mutual non- intervention "agreement to consolidate the existing position, and lay the foundation for future expansion.
2003 onwards, constantly involved in the acquisition and reorganization of the national market, access to Morgan Stanley's 50 million U.S. dollars funding support has seen the acquisition of Guangzhou East Ze appliances, all funded with 50% of department stores in Chengdu joint venture.