The logistics center project has been idle for more than ten years and is still idle for agricultural products: I didn’t get enough land, and now I plan to withdraw

On the evening of June 20, the Agricultural Products (SZ000061, a stock price of 6.39 yuan, and a market value of 10.8 billion yuan) issued an announcement stating that in order to optimize the company's resource allocation, the company intends to jointly cooperate with the wholly -owned subsidiary of Shenzhen Haijixing Investment Management Co., Ltd. (following, hereinafter Referred to as "Haitou Corporation"), publicly listed on the transfer of "equity transfer+debt compensation" to transfer a wholly -owned subsidiary Yunnan ASEAN International Agricultural Products Logistics Co., Ltd. (hereinafter referred to as "Yunnan ASEAN Company") 100%equity.

It is reported that Yunnan ASEAN Company originally planned to invest in the construction of the Kunming ASEAN International Agricultural Products Logistics Center project (hereinafter referred to as the "Kunming ASEAN project"), and the project has not yet been put into operation.

"Daily Economic News" reporter noticed that in August 2018, the Kunming Economic Development Zone Federation of Trade Unions mentioned in an article in its WeChat public account that the Kunming ASEAN project under agricultural products was competed in the Economic Development Zone Singapore Industrial Park in 2010 A 296 -mu industrial land, originally planned to build ASEAN International Agricultural Product Logistics Center, is now idle for enterprises itself. So, why did the project still not put into operation for more than ten years?

Public listing of 100%equity of subsidiaries

The main business of agricultural products is the development, construction, operation, and management of the agricultural product wholesale market. The scope of business involves agricultural product circulation, agricultural supply chain services, agricultural product e -commerce, etc. The company's actual controller is Shenzhen State -owned Assets Supervision and Administration Commission.

On the evening of June 20, Agricultural Products announced that the company's board of directors reviewed and approved the "Proposal on Public Listing and Transfer of the 100%Equity of Yunnan ASEAN Company, Yunnan ASEAN Company", and intended to agree to the company and the wholly -owned subsidiary Haitou Company "equity transfer+ Debt compensation "" debt compensation "is publicly listed to transfer 100%equity of Yunnan ASEAN Corporation.

The announcement shows that the Yunnan ASEAN Corporation was established on March 1, 2010, with 91%of the agricultural products, and 9%of the shares of Haitou. After auditing, as of December 31, 2021, the total assets of Yunnan ASEAN Corporation were 133 million yuan, the total debt was 86.79 million yuan, the net assets were 45.81 million yuan, and the asset liability ratio was 65.45%. Agricultural products said that due to the failure to operate the project, in 2021, the Yunnan ASEAN Company had no operating income, operating profit was -4.95 million yuan, net profit was -4.95 million yuan, and the net cash flow generated by operating activities was -2.56 million yuan.

Regarding the evaluation value of the target equity, agricultural products said that after auditing, as of January 31, 2022, the owner of the Yunnan ASEAN company was 45.41 million yuan, and the evaluation value of all shareholders' equity was 141 million yuan, and the evaluation value was 95.84 million yuan. Agricultural products also mentioned that Yunnan ASEAN Company currently has six employees, of which 2 employees are sent by the company to be resettled by the company, and the other 4 employees continue to maintain the original labor contract relationship.

The logistics center project has not been put into operation for more than ten years

Agricultural products stated in the announcement that Yunnan ASEAN Company originally planned to invest in the construction of the Kunming ASEAN project. Due to the changes in the project implementation conditions, the project was not actually put into operation. The reporter noticed that in August 2018, the Kunming Economic Development Zone Federation of Trade Unions mentioned in an article in its WeChat public account that the Kunming ASEAN International Agricultural Products Logistics Center project under agricultural products in 2010 was awarded to the Economic Development Zone Singapore Industrial Park in 2010 The industrial land of 296 acres was originally planned to build the ASEAN International Agricultural Products Logistics Center. It is now idle for enterprises.

"For this reason, the China Merchants Group specially visited Shenzhen Agricultural Products Co., Ltd., and communicated in depth with the person in charge of the enterprise to understand the in -depth reasons that have not been able to start. Opinions, urged enterprises to start construction as soon as possible. After the exchange, the enterprise promises to take out the actual plan as soon as possible, and it must make the project a green market with an internationally advanced information, service type, and low -carbon type, so that it will make it a become it, so that it will make it become it. A beautiful business card. "The above article was written.

Photo source: Screenshot of the WeChat public account of the Federation of Trade Unions in Kunming Economic Development Zone

So why did the project have not been put into operation for more than ten years? On the afternoon of June 21, an agricultural product -related person told the "Daily Economic News" reporter on the phone that the original land planning (area) of the project was relatively large. Conditions to build an agricultural wholesale market. "Later, I want to communicate again in the land, and then plan, and the opinions of shareholders should reach an agreement on future project construction. In the end, we have not obtained the requirements that meet our original investment, so we want to withdraw from this project."

What is the current progress of project construction? Will the project continue to be constructed in the future? The above -mentioned person said, "We are intending to withdraw now, and we will definitely not build anymore. As for whether the delisting party will continue to build, we will not know it."

In the first quarter of this year, agricultural products realized revenue of 942 million yuan, an increase of 4.79%year -on -year. The net profit attributable to shareholders of listed companies was 701 million yuan, an increase of 2.17%year -on -year.

Daily Economic News

- END -