第1页:“王老吉概念股”广州药业白云山三个月翻倍之谜 东方港湾但斌带头大哥 Page 1:“WangLaoJi the concept”Guangzhou pharmaceutical baiyun mountain three months doubled the mystery of the eastern bay but bin lead the eldest brother 第2页:公募总经理连轴转：杨峰落户长安 邹牧空降方正富邦 Page 2: public offering LianZhouZhuan general manager：YangFeng settled in changan ZouMu airborne founder rich nations 　　“王老吉概念股”广州药业白云山三个月翻倍之谜，东方港湾但斌带头大哥 “WangLaoJi the concept”Guangzhou pharmaceutical baiyun mountain three months doubled the puzzle，Eastern bay but bin lead the eldest brother

　　理财周报记者 刘梦 汪江涛/文

Finance LiuMeng WangJiangTao/the weekly newspaper reporters

　　2012年7月11日，盯盘广州药业的个人投资者叶先生倒吸了一口凉气。

July 11, 2012，Stare guangzhou pharmaceutical individual investors took Mr. Leaves fall a gasp。

　　下午2点54分，一笔8075手的买单，将广药直接打上涨停。紧接着，一笔2808手的买单同样挂出涨停价格。让他感到恐惧的是，仅仅1分钟后，又有5255手、2462手两笔大额买单挂上屏幕。

2 PM 54 runs，A 8075 of the hands of the check，Wide medicine call directly rise will stop。And then，A 2808 of the hands of the same hang the harden price to pay。Let him feel fear is，Only 1 minutes after，And a 5255 hand、2462 hand two strokes to pay large hung up the screen。

　　这笔5236万元的资金，在短短2分钟内将广州药业封上涨停板。

The 52.36 million yuan RMB，In just two minutes will guangzhou pharmaceutical sealed the harden board。

　　几乎同时，王老吉概念股的另一个主角——白云山也出现尾盘拉升。下午三点，集合竞价结束时，白云山16290手的合计成交量同样将其封在涨停板上。

Almost at the same time，WangLaoJi the concept of another leading role--baiyun mountain also appears end dish pull litre。At three o 'clock in the afternoon，At the end of the call auction，16290 the total volume baiyun mountain hand also will be sealed in the harden board。

　　收市当日，广州天河一家私募基金的投资总监向记者询问：“你知道究竟到底是谁在做广药和白云山吗？”

Closing on that day，Guangzhou tianhe private-equity fund investment to reporters asked about the director：“You know what exactly is who do wide medicine and baiyun mountain？”

　　深圳知名私募东方港湾在私下发给投资人的信中说道：“广州药业很可能成为未来5年至10年最值得期待的公司。”因而，它在5月重仓杀入。

Shenzhen famous private eastern bay in private investors to the letter said：“Guangzhou pharmaceutical could very well become the next five to 10 years to look forward to most of the company。”so，It may in heavy warehouse before。

　　广州智弈投资的投资总监孙存照说：“广药这个公司，是今年天上突然掉下的一块既肥又相对容易把握的馅饼。”

Guangzhou intellectual investment investment director sun ground close said：“The company wide medicine，Is this year heaven suddenly drop down a piece of both fat and relatively easy to grasp of the pie。”

　　更多神秘的，包括来自深圳金田路、深圳红岭中路、济南济安街、北京东四环中路，以及杭州、成都、上海众多营业部在内的游资，都紧紧追随着这个难得的交易标的。其中不乏许多低调的私募投资人。

More mysterious，Including shenzhen gold from the entrance、Shenzhen red ridge middle road、Jinan Jackie Ann street、Beijing east fourth ring road in the middle road，And hangzhou、chengdu、Shanghai many sales, the hot money，Are tightly follow this rare trade mark。There is no lack of among them many low-key private investors。

　　而同时，公募基金们却完全被封锁在消息之外。少数持有广州药业的公募基金，因为进入时点不佳，收获甚微。

But at the same time，But the public enlisting fund completely blocked in the news from。A few hold guangzhou pharmaceutical public enlisting fund，Because into poor point，Found little。

　　广州药业和白云山，究竟是如何从一个基础物质变成一个极富交易价值的筹码的呢？

Guangzhou pharmaceutical and baiyun mountain，How on earth did a basic substance into a highly trade value chips？

　　被私募们推高的股票 Is the high stock private push

　　看着广州药业一路飙涨，张明（化名）在5月下旬向公司提交了个股推荐报告。他是华南区一家公募基金的研究员，所在公司在2011年底持有超过百万股广州药业。3月底，这家公募基金逐渐清掉了广州药业的所有仓位。

Looking at guangzhou pharmaceutical jacked up all the way，Zhang Ming（aliases）In late may submit to the company a stocks recommended report。He is the south China area a GuGong enlisting fund researchers，The company at the end of 2011 to hold more than a shares guangzhou pharmaceutical。By the end of march，This GuGong enlisting fund gradually to clear out the guangzhou pharmaceutical all positions。

　　广州药业的走势是这样的。3月28日停复牌前后，个股有小幅上涨，4月一直呈横盘走向。5月3日，广州药业启动第一波大涨行情，至5月25日到达25元高点。之后继续横盘。

Guangzhou pharmaceutical trends is like this。On March 28, stop after card after，Stocks have a modest rise，April has been an sideways trend。On May 3,，Guangzhou pharmaceutical prices surged to start the first wave，To May 25, $25 to high。Then continue to sideways。

　　因而，对张明和其所在的公募基金来说，由于买入的时点不佳，广州药业对业绩的贡献甚微。

so，Zhang Ming and its place in the public offering for funds，Because of the poor point buy，Guangzhou pharmaceutical of performance little contribution。

　　张明说，5月9日王老吉官司纠纷的消息，自己完全不知情。“发研报的券商们也没说什么时候会出官司。公募基金只能依靠已有的事实作判断，决策都慢了。”

Zhang Ming said，May 9, WangLaoJi case dispute news，Couldn't informed。“Hair for the securities research also did not say what time will have a case。Public enlisting fund can only rely on existing facts to judgment，Decision are slow。”

　　按照2011年底的数据，仅15家公募基金持有广州药业，持股数均为几十万或几百万股，且多数是指数型基金被动复制个股所致。

According to the data at the end of 2011，Only 15 GuGong enlisting fund holding guangzhou pharmaceutical，ChiGuShu are hundreds of thousands of millions of shares or，And most index fund is passive copy caused by individual stocks。

　　深圳一家中型基金公司研究员告诉记者，对广州药业的最新一次调研已是数年前，无法判断这只个股的投资价值。王老吉要打官司的消息，自己和其他公募基金完全是封锁的。

Shenzhen a medium-sized fund company researchers told reporters，To guangzhou pharmaceutical latest research is already a few years ago，Can't tell this only stocks investment value。The news of the WangLaoJi to engage in a lawsuit，Himself and other public enlisting fund is completely sealed off。

　　“这一点拼不过私募。”该人士说。

“This spell but private。”This person said。

　　从记者调查获得的各种迹象来看，推动广州药业变成一个极富交易价值的个股的，更多是私募。但这个圈子并不大。

From a survey all sorts of acquisition to see signs，Promote guangzhou pharmaceutical into a highly trade value stocks，More private。But the circle is not great。

　　5月底，广州药业完成第一波上涨，股价一度突破25元。广州天河区一家私募基金的投资总监纳闷地问：“我出个差回来，发现广药和白云山涨了这么多。”同时，更令他感到困惑的是，到底谁买了广药、白云山。

At the end of may，Guangzhou pharmaceutical finish first rises，Share price has breakthrough 25 yuan。The tianhe district a private fund investment director suspicious ground to ask：“I'm a bad back，Find wide medicine and baiyun mountain up so much。”At the same time，He was puzzled that more is，Who bought wide medicine、Baiyun mountain。

　　从广药复牌的3月28日至7月11日，短短三个多月时间里，广药由复牌时的13.10元涨至28.15元，区间涨幅116%。白云山由12.75元涨至24.95元，区间涨幅106%。

The resumption of medicine from wide on March 28, to July 11,，Just more than three months，Wide by the resumption of medicine when rose to 13.10 yuan to 28.15 yuan，Interval or 116%。Baiyun mountain by 12.75 yuan rose to 24.95 yuan，Interval or 106%。

　　广州药业在香港的走势同样惊人。2012年3月28日至7月13日，广州药业H股股价由7元涨至17.60元，区间涨幅高达190%。

Guangzhou pharmaceutical the movements of the equally amazing in Hong Kong。On March 28, 2012 to July 13,，Guangzhou pharmaceutical H shares rose by $7 to $17.60，Interval rose as high as 190%。

　　到底是谁买了广药、白云山 Exactly is who bought wide medicine、Baiyun mountain

　　2012年3月28日，广州药业发布重大资产重组复牌，开盘13.10元。

On March 28, 2012，Guangzhou pharmaceutical release resumption of the material assets reorganization，Open quotation 13.10 yuan。

　　5月9日，王老吉出现官司纠纷。在此一周之前，资金对广州药业的敏感度迅速增加。随着官司的进展，5月，包括国联证券、中银国际在内的众多券商陆续发布研报，认定收回王老吉商标对于广药来说是一个巨大的利好。

May 9,，WangLaoJi appear case of dispute。In the week before，Funds to the sensitivity of the guangzhou pharmaceutical increase quickly。Along with the progress of the lawsuit，may，Including the nl securities、Boc international, the numerous brokers have issued for research，Back WangLaoJi trademark widely recognized for drug that is a huge positive news。

　　国信证券知名的医药行业分析师贺平鸽，也曾在5月中旬向不少私募人发送邮件，题为《国信医药-与您探讨：“王老吉”能否再造一个广药？》

Well-known pharmaceutical industry expressed securities analysts HePing pigeons，Also had in mid-may to many private people send mail，titled《Expressed medicine-discuss with you：“WangLaoJi”Can a wide reengineering medicine？》

　　众多私募资金在5月官司前后的时点涌入广州药业。从上交所披露的信息来看，来自深圳金田路、深圳红岭中路、济南济安街、北京东四环中路，以及杭州、成都、上海众多营业部在内的资金频频上榜，出现在买入前五榜单。

Many private capital in May before and after lawsuit, the leading into guangzhou pharmaceutical。ShangJiaoSuo from the information revealed to see，Shenzhen gold from the entrance、Shenzhen red ridge middle road、Jinan Jackie Ann street、Beijing east fourth ring road in the middle road，And hangzhou、chengdu、Shanghai many sales, frequently money list，Appeared in the first five buy list。

　　广州智弈投资的孙存照在其博客“岁月无声”中发布了众多关于广药的研究报告。其资金在广药行情启动初就介入了，而当时多数资金都还很犹豫。

Guangzhou wisdom of sun ground investment in his blog record“Years silent”Released in many research report about the wide medicine。Its funds in the wide medicine market early start intervention，At that time, most of the funds are hesitant。

　　“广药这个公司，是我认为今年天上突然掉下的一块既肥又相对容易把握的馅饼。它掉下来的时候，市场的资金基本处在同一起跑线上，大家完全可以借助公开信息去判断。”孙存照如是说。

“The company wide medicine，Is I think this year heaven suddenly drop down a piece of both fat and relatively easy to grasp of the pie。It came off，The capital market in the same basic starting line，You can completely with open information to judge。”He said record。

　　彼时，广药市值仅120个亿。按照市场人士分析，除了医药业务的价值，120亿顶多只是反映了王老吉很少的价值。“这几乎是个白送的投资机会，只不过，大家都不愿意弯腰去捡这个金子。”孙存照说。

Back then，Wide medicine at just 120 to。According to market personage analysis，In addition to the value of the pharmaceutical business，12 billion at most only reflect the WangLaoJi little value。“This is almost a gratis investment opportunity，just，Everyone is not willing to bent to pick the gold。”He said the record。

　　伴随着王老吉事件的进展，关于品牌纠纷的报道越来越多，广药股价一路飙升，到5月25日，广药一度冲破25元价位。

Along with the progress of the WangLaoJi events，The dispute about brand reported more and more，Wide medicine share price soared，To May 25，Wide medicine once break through 25 yuan price。

　　5月20日前后，部分游资渐渐开始撤出广药。而此时，机构的资金开始逐渐进入。

After by May 20，Part of the hot money slowly began to withdraw from wide medicine。And right now，The money has been gradually into the organization。

　　横盘一个多月后，7月6日，广州药业以超过6%的涨幅再次发起第二波涨势。7月9日，广药以5.37%的涨幅冲破26元价位，创出历史新高。此后两天，广药分别以-0.43%、10.00%的涨幅在“跌跌不休”的A股中显得格外显眼。

Sideways for more than a month，On July 6，Guangzhou pharmaceutical of more than 6% for the second wave rise launched another rise。July 9,，Wide medicine to the 5.37% increase breaks through $26 price，A record。Then two days，Wide medicine to-0.43% respectively、The 10.00% increase in“Stumble endlessly”A shares in appear particularly conspicuous。

　　“冲破这个压力位，广药还能继续走高。”深圳一位参与广药投资的人士甚至预言，广药可能将站上50元的高位。

“The pressure is a break，Wide medicine still can continue to go up。”Shenzhen a wide participation of medicine investment people even predicted，Wide drug may will take high of $50。

　　但此前一直看多广州药业的广州智弈投资总监孙存照此时却相对谨慎：“第一步是价值重估，25元到30元是基本合理价格。个人认为，第一波价值重估的阶段基本接近尾声，剩下的是观察王老吉的市场和经营情况了。”

But had been to see many guangzhou pharmaceutical guangzhou wisdom chief investment officer at sun ground close but relatively cautious：“The first step is revaluation，The $25 to 30 yuan is the basic reasonable price。Personally think，The first wave of the revaluation stage basic near the end，The rest of the market is to observe WangLaoJi and operating conditions。”

　　记者在7月11日广州药业涨停当日傍晚致电一位深圳阳光私募人士，其透露，与众多其他同行一样，由于担心此前一轮涨幅股价已经有所表现，顾忌追高有风险，一直观望，错过了广药的上涨。该私募人士同时也表示：“知道他（孙存照）一直很看好广药，在最近一轮大涨前就持有了，基本是重仓，但斌也经常引用他观点的。”

Reporter in July 11 guangzhou pharmaceutical on that day evening call a harden shenzhen sunshine private person，Its revealed，And many others，Worried about previous round or share price has showed，After the high risk scruples，Keep looking，Missed wide medicine increases。The private people also said：“Know he（Sun record）Has been on a wide medicine，In the latest round before they hold a rose，Basic is heavy warehouse，But also often cites bin his argument。”

　　但斌是深圳知名私募东方港湾的掌门人。因其在微博不断转发关于广药的新闻报道，不少投资者认定但斌也有买入广州药业。而但斌本人则曾明确表态，转发王老吉新闻只是出于个人阅读习惯，并不是向投资者推荐股票。

But bin is the shenzhen famous private eastern bay's chief executive。Because of its in micro bo constantly forwarding the news reports about wide medicine，Many investors but also have to buy that bin-guangzhou pharmaceutical。And I had made it clear, but added comment，Forwarding WangLaoJi news was due to a personal reading habits，And not recommend stocks to investors。

　　“有点像带头大哥，虽然他没说推荐。”广州一位不愿透露姓名的资深媒体人说。

“A bit like lead the eldest brother，Although he didn't say that recommendation。”Guangzhou a don't wish to be named, said senior media。

　　深圳东方港湾在私下向持有人回顾投资历程时，曾这样说道：“2012年5月，我们重仓出击买入了广州药业，特别是港股的广州药业。我们将老客户减持腾讯的资金以及新来客户的剩余资金全部买入。”

Shenzhen eastern bay in private investment course review to the holder，Had said that：“May 2012，We heavy attack to buy the guangzhou pharmaceutical storehouse，Especially the guangzhou pharmaceutical stocks。We will old customer holdings tencent funding and the rest of the new funds to buy all customers。”

　　其还提到，认为王老吉是最有可能成为中国的可口可乐的一款拳头产品，并称广州药业很可能成为未来5年至10年最值得期待的公司。

It also said the，Think WangLaoJi is most likely to be China's Coca-Cola a blockbuster，Said guangzhou pharmaceutical could very well become the next five to 10 years to look forward to most of the company。

　　但斌在最近一周周报中发表3篇文章，其中2篇涉及广药重组案。据悉，但斌已将广州药业全部“转股”为白云山，个中缘由私募人士均不知晓。

But in the last week of bin weekly newspaper published three articles，Article 2 of them involving wide medicine restructuring case。It is reported，But bin already will all guangzhou pharmaceutical“convertible”Baiyun mountain for，The reason people that are private。

　　

消息与市场反应默契 News and market reaction tacit understanding

　　股价上涨的背后，有一个综合催化作用。记者发现，每每王老吉案件动态出现进展，广药和白云山股价必定出现大幅反应。一位持有广州药业许久的人士不断向记者表示，这两只股票非常干净，上涨纯粹是一种市场行为。

Share price rises behind，Have a comprehensive catalytic role。Reporter discovery，Often WangLaoJi cases progress dynamic appear，Wide medicine and baiyun mountain share price is bound to be a reaction。A hold guangzhou pharmaceutical growing long to reporters，The two shares are very clean，Rose is a purely market behavior。

　　但投资人均可以确定的是，资金利用消息炒热两只股票的意图非常明显。问题是，相关利益方是如何提前获得消息并利用它们的呢？

But the investment to be sure, the per capita，Funds use news Fried hot two shares intentions very obvious。The problem is，Related parties is how to get news ahead and use them？

　　不如用倒镜头来看—— Take down lens to see--

　　镜头一。7月9日，周一，广药举行商标维权发布会。会上，广药一方面称加多宝侵犯王老吉商品装潢权并因此起诉立案，一方面通报海关查扣17吨拟出境的红罐王老吉。

Lens a。July 9,，On Monday，Wide trademark rights conference held medicine。meeting，Wide medicine on one hand and infringe WangLaoJi goods million says decoration and so on right prosecution，On one hand about customs 17 tons to buckle exit WangLaoJi red cans。

　　这两大利好直接反映在当天盘面。广州药业开盘1小时出现紧急拉升，盘中触及涨停，最终以超过5%的涨幅收盘。白云山也几乎在同一事件拉升超过9个百分点，最终收于3%涨幅。

The two big good is directly reflected in the day of the disk。Guangzhou pharmaceutical open quotation 1 hour appear emergency pull litre，Plate touch harden，Final with more than 5% of or closed。Baiyun mountain in the same event also almost pull to rise more than 9%，Finally closed at 3% increase。

　　镜头二。7月4日，周三，广药举行王老吉事务新闻发布会。广药集团两家代理律师事务所称，将全面启动法律诉讼维权，多地工商部门开始执法查封加多宝生产的侵权王老吉凉茶。当日，横盘走向的广药和白云山分别以5.56%、6.62%的涨幅收盘。

Lens two。On July 4,，On Wednesday，Widely held a news conference WangLaoJi affairs medicine。Wide medicine group two attorneys office says，Will start full legal rights，Many industry and Commerce Department began to law enforcement and the production of seizure million infringement WangLaoJi cool tea。On that day，Sideways to wide medicine and baiyun mountain to 5.56% respectively、Closing the 6.62% increase。

　　镜头三。6月18日，广州国资委为广药“撑场”，强调广药集团是184年历史的王老吉品牌唯一传承实体。当日尾盘30分钟，广州药业与白云山都被急拉6个百分点。翌日，广州药业再涨8.45%，而白云山涨停。

Lens three。June 18,，Guangzhou state-owned assets supervision for wide medicine“Hold a”，Emphasize wide medicine group is a history of 184 years WangLaoJi brand the only inheritance entity。End dish on 30 minutes，Guangzhou pharmaceutical and baiyun mountain is urgent and 6%。The following day，Guangzhou pharmaceutical and rose 8.45%，Baiyun mountain and harden。

　　6月19日是股市大盘断臂式下跌的开端，2300点失守。两只王老吉概念股，彼时为7月初的再度大涨而蓄势，主力资金颇为殷实。

June 19,, the stock market grail is the beginning of the fall, brokeback type，Fell 2300 points。Two WangLaoJi the concept，Back then for early July rose again charged，Main funds rather population。

　　7月12日，接近广药重组的核心人士向记者透露：“这次行情主要是赌中院的判决结果。”其所称的判决，是指广州药业6月5日的一则公告。彼时，广药称在6月1日收到北京第一中院的应诉通知书，是为加多宝提出申请撤销此前的王老吉商标仲裁裁决。

July 12,，Close to the core of the wide medicine restructuring people has revealed：“The market is mainly on the then judgment。”The ruling said，Refers to guangzhou pharmaceutical on June 5, a public announcement。Back then，Wide medicine says in the June 1 received the first YiZhongYuan responding to notice of Beijing，Is put forward for add much for the cancellation of the arbitration award after WangLaoJi trademark。

　　广州药业董秘庞建辉表示，中院的判决结果下来一般需要两个月的时间。

Guangzhou pharmaceutical secret PangJianHui dong said，Then verdicts were down general need two months。

　　从王老吉到生物医药， From WangLaoJi to biotechnology，

　　广药白云山“价值挖掘” Wide medicine baiyun mountain“Value mining”

　　一位券商资管人士向理财周报记者透露，之前公司曾买入广州药业，“涨了20%之后抛了”。之前，不少因王老吉概念而追入的投资者也都“没拿住”，小幅获利后即离场。

A capital to finance the brokers who weekly newspaper reporter revealed，Before buying guangzhou pharmaceutical company has been，“Rose 20% after the throw”。before，For many WangLaoJi concept and the investors also are after“No took”，A modest profit after that pitch。

　　据其透露，王老吉商标归属反诉7月17日终审，“事实确凿，基本不可能推翻以前的判决，广药胜诉有法律优势。”鸿道集团反诉的目的，只是拖延时间以实现品牌切换。

According to its revealed，WangLaoJi trademark ownership counterclaims July 17 is the final，“Hard facts，Basic not likely to overturn the previous sentence，Medicine has won wide law advantage。”The way the purpose of counterclaim group，Just buy time to realize brand switching。

　　目前，在华南区多数中低端餐厅中，加多宝产品明显压过了王老吉的势头。顾客点一罐王老吉，餐厅均默认端上来一罐红罐加多宝。

At present，In the south China area most ZhongDiDuan restaurant，Add much pressure after WangLaoJi product obvious the momentum。Customer ordered a can of WangLaoJi，All the default end up a restaurant can add much red cans。

　　在个别湘菜馆，记者还发现有“点一份剁椒鱼头送一份加多宝”的字样。“加多宝也拼了。”深圳一位资深媒体人如是说。

In individual hunan museum，Reporters also found to have“Points a chop bell pepper fish head send a plus million”Words of。“Add much also hard。”Shenzhen a senior media people said。

　　而令多数广药、白云山投资者担心的是，王老吉的产品投放太慢，市场会在这段时间内被加多宝成功占领，完成品牌切换。

To the most extensive medicine、Investors worry about is baiyun mountain，The products on the WangLaoJi too slow，The market will at that time was much success with occupation，Complete brand switching。

　　“广药的产能应该还是不足，才导致投放过慢的感觉。”广州智弈投资的投资总监孙存照说，“我估计广药会先从薄弱阵地介入，从商品超市逐步向餐饮渗透。”

“The production capacity of the wide medicine should be or inadequate，That led to the slow on the feeling。”Guangzhou intellectual investment investment director sun ground close said，“I estimate that wide medicine will start from the weak position intervention，Goods from supermarket gradually to catering penetration。”

　　这种推测被多数投资人所认同。北京神农投资的总经理陈宇就曾在微博说：“家乐福里刀光剑影，加多宝已在店内开播更名广告，红罐加多宝也已上架……广药还有很多事要做。”

The conjecture is most investors have approval。Beijing shen nong general manager of investment was in micro bo researh material-11 said：“The whole carrefour，Plus million in the store name advertising has launched，Red cans and curio cabinet has also shelves......Wide medicine there are so many things to do。”

　　一位接近广药重组的核心人士透露，广州药业H股的大涨，“肯定与内地投资者有关”。“现在故事对这两只股票的跟风炒作非常厉害，实际上王老吉不是关键，广药未来的经营增长点更多在生物医药。”

A close to the core of the wide medicine restructuring people said，Guangzhou pharmaceutical H shares of issuance，“Surely the mainland investors”。“Now to the story of two shares follow suit hype is very strong，In fact WangLaoJi is not the key，Wide medicine in the future management of the growth point more biotechnology。”

　　据其介绍，其中之一的狂犬病疫苗，另一个是乙肝疫苗。广药乙肝疫苗与重庆啤酒(600132,股吧)完全不同，重啤是转基金法，广药是化学法。

According to this，One of them, rabies vaccine，The other is a hepatitis b vaccine。Wide medicine hepatitis b vaccine and chongqing beer(600132,Shares it)Completely different，Heavy beer is turn funds，Wide medicine is chemical method。

　　前述券商资管人士说，广药拜迪生物的炒作点，预计可以让广药第一波涨到30元，市值可以先膨胀到200至250亿，甚至上500亿都有可能。

The brokers endowment tube people said，Wide medicine's hype point of worship creatures，Are expected to make up to the first wave of wide medicine 30 yuan，Market value could start expanding to 200 to 25 billion，Even in 50 billion is possible。

　　理财周报记者还拨通广药控股的广州拜迪生物医药负责人的电话，其以“集团刚刚开过会，叫我们不要披露信息”为由，婉拒记者。

Financial weekly newspaper reporters also went to the wide medicine holding guangzhou worship di biological medicine of the person in charge of the phone，the“The group has just met，So that we don't disclose information”for，Declined to reporters。

　　根据广药2011年年报，其直接持股98.48%的广州拜迪销售收入159万元，净利润636.7万元。

According to the wide medicine 2011 report，Its direct ownership of guangzhou's 98.48% worship sales income is 1.59 million yuan，Net profit of 6.367 million yuan。

　

　告诉你一个真实的重组案 Tell you a true recombinant case

　　7月11日上午，理财周报记者独家采访了接近广药重组的核心人士。“联交所方面沟通起来比较麻烦，所以原计划8月份召开的重组股东会，要推迟到9月底。”

The morning on July 11,，Financial weekly reporter had an exclusive interview with close to the core of the wide medicine restructuring people。“The stock exchange and communicate more troublesome，So the original plan and the restructuring of the shareholders' meeting, held in，Will be postponed to the end of September。”

　　“5月份两只股票大涨时，证监会曾委托广东证监局和北京证监局联合稽查，但这次稽查属于例行公事性质，重大资产重组的公司都会遇到，现在结果还不知道。”此人士透露。

“Two stocks in May，CSRC had entrusted guangdong securities regulatory authority and the Beijing securities regulatory bureau joint inspection，But the auditing belong to routine properties，Material assets reorganization company will meet，Now the results also don't know。”The people said。

　　证监会不久前曾发布《关于加强与上市公司重大资产重组相关股票异常交易监管的暂行规定（征求意见稿）》，其明确说明，上市公司因重大资产重组停牌后，证券交易所立即启动二级市场股票核查程序，并在后续阶段对二级市场股票交易情况进行持续监管。

Securities regulatory commission has issued recently《On strengthening the material assets reorganization of listed companies and related abnormal stock trading regulation of the interim provisions（Draft version of the）》，The specified，Because of the material assets reorganization of listed companies after suspension，Stock exchange immediately start the secondary market stock check program，And in the subsequent stages of the secondary market situation of stock trading ongoing oversight。

　　可见，证监会对重大资产重组的监管，将制度化和常态化。广药重组案恰逢征求意见稿出台窗口期，加强对本次重组股票交易的监管，无疑是题中应有之义。

visible，Securities regulatory commission to material assets reorganization supervision，Will the institutionalization and normal。Wide medicine restructuring at draft version of the case on the window period，To strengthen the restructuring of stock trading regulation，Is undoubtedly an integrant part of。

　　广药董秘庞建辉对记者表示：“公司没有收到调查通知。”

The secret to PangJianHui wide medicine dong reporters：“The company hasn't received survey notice。”

　　“广药重组，除了生物医药外，另一个想象力在于注入的白云山。白云山的机制和文化更为市场化。之前它与和黄药业的合作算是成功案例。”上述人士补充道。

“Wide medicine restructuring，In addition to the biological medicine，Another is injection of baiyun mountain imagination。Baiyun mountain of mechanism and culture more market-oriented。Before it and and yellow pharmaceutical cooperation is successful cases。”The person added。

　　但是，同花顺(300033,股吧)显示，5月16日以后，券商再无发布广州药业研报。而白云山的研报也在3月就已经停止。券商对于预期不确定的广药重组，似乎并没有多大把握。

but，Straight flush(300033,Shares it)shows，Five months after 16,，Brokers there is no release guangzhou pharmaceutical research report。But the report also developed in baiyun mountain 3 months have stopped。Brokers for expected uncertain wide medicine restructuring，Did not seem to make much confidence。

　　与广州药业、白云山公司本部同在广州的广发证券(000776,股吧)，有内部人士透露，内部对广药的估值仅20元。

And guangzhou pharmaceutical、Part of the guangzhou baiyun mountain with wide hair negotiable securities(000776,Shares it)，A source said，Internal medicine of wide valuation is only 20 yuan。

　　7月12日，广州药业、白云山随中药板块一起调整报绿，白云山更是大跌3.45%呈现十字星走势。王老吉概念股的下一步料将更为迷离。

July 12,，Guangzhou pharmaceutical、Along with the traditional Chinese medicine with adjustment plate baiyun mountain for green，Baiyun mountain is plunged 3.45% present cross movements。The next step WangLaoJi the concept is expected to be more blurred。

　　就在7月13日截稿日，下午2点32分，一笔12055手的买单挂出涨停价，广州药业再次以10%涨停板收盘。目前广州药业流通市值约180亿元，在生物制药板块排名第7名。

On July 13,, the deadline，2 PM 32 points，A 12055 hand buying hang the harden price，Guangzhou pharmaceutical to harden board closed 10% again。At present guangzhou pharmaceutical circulation market value of about 18 billion yuan，In biological pharmaceutical plate seventh in name。