和讯网消息 随着收购香港“壳”公司的尘埃落定，中粮集团房地产业务的整合或迈出关键一步。与此同时，通过收购香港上市公司来进行海外融资的模式，也越来越备受内地开发商青睐。

HeXunWang news with the acquisition of Hong Kong“shell”The company the dust settles，Cofco estate business integration or a key step。At the same time，Through the purchase of Hong Kong listed companies to overseas financing mode，More and more is also much mainland developers favour。

　　7月17日晚间，香港上市公司侨福企业发布公告称，中粮集团旗下的中粮香港将以每股0.92元作价，向公司主席黄健华及兄弟收购合共3.937亿股股份，涉及金额3.622亿元。中粮香港表示，除了现在的物业及投资业务外，将研究是否适宜进行任何资产或业务收购。

July 17 night，Hong Kong listed companies overseas enterprise releases announcement to say happy，Cofco group, the grain of Hong Kong will be 0.92 yuan a share price，Chairman HuangJianHua and brother to purchase a total of 393.7 million shares，Involving amount of 362.2 million yuan。Cofco Hong Kong said，In addition to the property and business now outside investment，Will study whether it is appropriate for any assets or business purchase。

　　公告指出，中粮香港的收购作价，较侨福停牌前1.47元大幅折让37.4%，完成交易后中粮香港将持有侨福已发行股本约73.5%；中粮香港将维持侨福的上市地位，公司今天复牌。

Notice said，Cofco Hong Kong takeover pricing，A Canadian blessing before trading 1.47 yuan a 37.4% discount，After a deal grain Hong Kong will hold good overseas has issued capital about 73.5%；Cofco Hong Kong will maintain remittance of the blessed listed status，The company today after card。

　　相关资料显示，侨福企业为香港小型地产发展商，由台湾著名实业家黄周旋家族创办，目前公司股权由黄健华、黄又华、黄幼华及黄德华4兄弟持有，代表作是港岛大潭赫赫有名的阳明山庄，公司目前业务集中在物业酒店及地产投资方面，主要项目位于香港、上海和南京。

Data suggest，Good for small enterprises overseas Hong Kong property developers，By Taiwan's famous industrialists yellow family founded al，At present the company is owned by HuangJianHua、Yellow and China、HuangYouHua and HuangDeHua 4 brothers held，Work is Hong Kong island tai tam distinguished Yang manor，The business is currently focused on property hotels and real estate investment，The main project is located in Hong Kong、Shanghai and nanjing。

　　中粮香港由中粮集团全资拥有、并为中国食品、中国粮油、中粮包装及蒙牛的直接或间接主要股东。据和讯网获悉，中粮香港成立于1981年成立，母公司为中国成立的国有独资企业中粮集团有限公司。中粮集团(香港)有限公司为一家投资控股公司，其附属公司所从事的业者十分广泛，包括地产、酒店、粮油生产、食品饮料制造以及包装等。

Cofco of Hong Kong by cofco wholly owned、And for Chinese food、Chinese grain、Food packaging and hoodwinks the cow the direct or indirect major shareholders。According to HeXunWang learned that，Cofco Hong Kong was established in 1981，The parent company was established for China of the wholly state-owned enterprise cofco limited company。cofco(Hong Kong)Co., LTD. Is an investment holding company，Its affiliated company in the industry is very extensive，Include real estate、The hotel、Grain and oil production、Food and beverage manufacturing and packing, etc。

　　

中粮系地产谋求整合 Grain is real estate seek integration

　　对于此次收购，和讯网致电了中粮集团新闻发言人殷建豪，他听完收购一事后便匆忙挂机，未做任何回应。然而，中粮集团的收购倒并不出人意料。早在今年两会期间，中粮集团董事长宁高宁便表示，中粮集团旗下商业房地产将要在香港上市。

For the acquisition，HeXunWang call the cofco news spokesman YanJianHao，After hearing his acquisition and hurried hang up afterwards，Do not make any response。however，Cofco takeover not unexpected。As early as this year sessions，Cofco chairman NingGaoNing then said，Cofco its commercial real estate will be listed in Hong Kong。

　　至于中粮集团旗下的中粮地产(000031,股吧)、中粮置业、中粮酒店事业部这三家公司哪家将登陆H股，宁高宁当时并未给出答复，除此之外，对于上市的具体时间和融资规模，他均没给出具体的答复。在当时来看，中粮集团此举已经表明了公司已然做足了一切准备。宁高宁当时也称，希望两会之后进展能快一些。

As for food group, the grain of real estate(000031,Shares it)、Cofco home buyers、Cofco hotel group the three companies which will land in H shares，NingGaoNing at that time did not give a reply，In addition，For the specific time and listing of the financing scale，He are not give the detailed answer。At the time to see，Cofco this has already stated that the company is already done sufficient all the preparations。NingGaoNing also said at the time，Hope after two meetings can faster progress。

　　相隔不到5个月的时间，中粮集团就收购侨福企业，速度并不算慢。有接近中粮集团的相关人士向和讯网透露，中粮旗下地产业务整合了这么多年，这一次中粮香港的收购，从实际进展来说是向前迈进了一大步，下一步关键是要考虑具体把哪些商业地产装进来，是把集团全部商业地产都移近来呢，还是先把中粮置业或者中粮酒店事业部的放进来。

From less than five months time，Cofco overseas purchase blessing enterprise，Speed isn't slow。With close to cofco parties to HeXunWang disclosed，Cofco its real estate business integration for so many years，This time the grain of Hong Kong takeover，From actual progress forward it is a big step，The next step is key to consider what specific commercial real estate put in，The group is all commercial real estate are moved recently，Or the first grain home buyers or cofco hotel divisions of put in。

　　实际上，中粮集团的地产业务整合由来已久。2006年，中粮集团决定划分投资性物业和住宅发展业务。2007年成立中粮置业，专门运作商业地产，而中粮地产作为A股上市公司则主要运作住宅和工业地产开发。2009年，宁高宁正式提出整合中粮旗下地产业务的想法，宁高宁当时特别提出：“我的计划是，未来几年内房地产的资产规模将占到中粮的15%-20%。”

In fact，Cofco of real estate business integration has a long history。2006 years，Cofco decided to an investment property division and residential development business。Established in 2007 grain home buyers，Exclusively commercial real estate，And real estate as A shares the grain listed company is main operation residential and industrial real estate development。2009 years，NingGaoNing formal combination is put forward under the idea of real estate business grain，NingGaoNing was specifically：“My plan is，The next few years of real estate assets will make up the grain size of 15% 20%。”

　　随后，2010年年底，中粮集团组建地产酒店事业部，负责管理全部住宅开发、酒店商业运营、旅游地产、工业地产的运作，当中亦涵盖了中粮地产和中粮置业的全部资产。截至目前，中粮集团的地产业务子公司就包含了中粮地产、中粮置业、中粮酒店事业部及中粮海南公司，且各部门独立运作。2011年3月，宁高宁明确提出，中粮集团在中粮地产、中粮置业两大地产业务平台合并完成后，将会以A+H的方式整体上市。

then，By the end of 2010，Cofco form a real estate hotel business，Responsible for the management of all housing development、The hotel business operation、Tourism real estate、Industrial real estate operation，Of the grain is also included in the real estate and grain of all the assets of home buyers。So far，Cofco of real estate business unit contains the grain of real estate、Cofco home buyers、Cofco hotel group and cofco hainan company，Each department and independent operation。March 2011，NingGaoNing definitely put forward，Cofco grain in real estate、Cofco home buyers two real estate business platform after the merger，Will be in A + H way whole appears on the market。

　　“未来我们希望以大型城市综合体为主要产品线，这是我们的优势所在，搞酒店不容易，搞商业不容易，但整合到一起，与当地政府谈政策优惠，也都容易了很多。”这是宁高宁整个商业地产的目的所在。

“In the future, we hope to the large urban complex as the main product line，This is our advantage，Make the hotel is not easy，Make business is not easy，But all together，And the local government about preferential policy，Are easy to a lot。”This is NingGaoNing the aim of the commercial real estate。

　　同一时间，中粮集团在北京、上海、天津、烟台、成都5个城市成立城市公司，将中粮地产与中粮置业的资产整合起来，厘清股权关系，统一管理，为上市做基础工作。中粮系的地产整合之路可谓任重道远。中粮地产董事会秘书崔捷在今年4月份的股东大会上表示，5年内是否能完成整合这一目标，目前还很难说。

The same time，Cofco in Beijing、Shanghai、tianjin、yantai、Chengdu city company established five cities，Will the grain of the grain property and real estate assets together，To clarify the relationship between equity，Unified management，Listed on the basis for work。The integration of the grain road of the real estate is a long way to go。Cofco real estate a secretary of the board of directors CuiJie in April this year of the shareholders' meeting on Wednesday，5 years to complete the whether integration goals，Now it is hard to say。

　　然而，对于最新的这一消息，中粮地产投资者关系方面负责人向和讯网表示，并不清楚中粮香港的收购一事，目前也没有接到集团对于如何整合下一步的指示，如果有消息，公司会发布公告进行披露的。

however，For the latest news，Cofco real estate investor relations to persons in charge of HeXunWang said，The grain is not clear about the purchase of Hong Kong，There are no received group for how to integrate the next step instructions，If there is the news，The company will release a public announcement of the disclosure。

　　资料显示，截至今年3月底，侨福企业年度收入为2190万港元，同比下降30.7%，据和讯网查询，近年来侨福企业的业绩一直都处在亏损阶段，其上海子公司于2010年8月份被海市工商行政管理局批准清盘。

Data shows，By the end of march this year，Qiao f enterprise annual income for 21.9 million hk dollar，30.7% year-on-year drop，According to HeXunWang inquires，In recent years, the performance of the Canadian f enterprise has always been in losses stage，The Shanghai subsidiary in August 2010 was a administration for industry and commerce approved the liquidation。

　　

内房企纷纷赴香港收购所谋者何 Enterprises in Hong Kong in succession in room for what the acquisition

　　“除了整合地产业务之外，有了香港上市公司这个平台，对于中粮系地产业务在融资方面，又多了一个渠道，可谓一举两得。这也是为什么从去年下半年开始那么多A股公司希望收购香港‘壳’公司的原因。”某国际投行分析师向和讯网这样表示。

“In addition to real estate business integration outside，A Hong Kong listed companies this platform，For real estate business in the financing of the grain，And then many a channel，Is kill two birds with one stone。This is why so much from the second half of last year began A share the company is hoping to acquire Hong Kong‘shell’The cause of the company。”Some international investment Banks to HeXunWang analysts say。

　　真正让市场关注内房企欲收购香港上市平台的是金地集团(600383,股吧)，然而不幸的是金地却做了“先烈”。2011年6月30日，金地发布公告称，公司全资子公司辉煌商务有限公司与华人置业间接全资附属公司BILLIONUP LIMITED签订买卖协议，公司拟以8.36亿元收购华人置业旗下至祥置业61.96%股权。

Real let market focus to buy Hong Kong enterprises in room listing platform is ltd.gemdale corporation(600383,Shares it)，But unfortunately ltd.gemdale did“martyrs”。June 30, 2011，Ltd.gemdale issued announcement said，A wholly owned subsidiary of brilliant business Co., LTD and Chinese buyers a wholly owned subsidiary of indirect BILLIONUP LIMITED entered into a purchase agreement，The company intends to purchase Chinese buyers with 836 million yuan, cheung home buyers to 61.96% equity stake。

　　然而，一个月过后，华人置业就发布公告称，出售至祥置业予金地集团一事，鉴于买卖协议的先决条件未能在7月29日完全达成或获豁免，买卖协议将于7月29日以后失效。因此，出售将不会进行。

however，A month later，Chinese real estate is issued announcement said，Cheung home buyers to sell to the ltd.gemdale corporation，In view of buying and selling the precondition of the agreement in July 29 failed to fully reach or the exemption，Buying and selling agreement on June 29 after failure。so，The sale will not。

　　惨痛的教训并未打消其他房企继续收购的念头。今年5月2日，招商地产(000024,股吧)发布公告关于境外子公司收购香港上市公司控股权的公告，招商地产控股子公司瑞嘉投资实业有限公司所属的全资子公司成惠投资有限公司，分别从华能有限公司与Greatest Mark Limited购入东力实业一定比例的股份，而两卖方的持股数分别约69.18%及5.77%。

Painful lessons did not let other room continue to purchase the idea of enterprises。This year May 2,，Investment real estate(000024,Shares it)By way of a public announcement about subsidiaries overseas acquisitions Hong Kong listed companies the announcement of a controlling interest，Real estate investment holding company of luck fine investment industrial Co., LTD. Is a wholly owned subsidiary of the subordinate ChengHui investment Co., LTD，Huaneng Co., LTD and respectively from the Greatest Mark Limited buy east force industrial a percentage of shares，And two of the seller ChiGuShu about 69.18% and 5.77% respectively。

　　据了解，招商地产就收购事项应付的代价合共为港币1.99亿元。收购完成后，招商地产将拥有东力实业约7.498亿股股份，相当于东力实业全部已发行股本约70.18%。

According to understand，Investment real estate will buy of the total price with is hk $199 million。acquisitions，Investment real estate will have east force industrial about 749.8 million shares，Quite YuDongLi industrial all already issued capital about 70.18%。

　　5月14日，万科也对外公布，公司计划以10.79亿港元收购港股南联地产73.91%的股份，从而实现香港上市。万科称，其全资子公司万科置业(香港)有限公司已于5月13日与永泰地产有限公司达成收购南联地产股权的协议。永泰地产、南联地产均为在香港联合交易所上市的公司。

May 14，China vanke also announced，The company plans to hk $1.079 billion acquisition stock NaLian real estate 73.91% of the shares，So as to realize the list in Hong Kong。Vanke said，Its wholly owned subsidiaries China vanke home buyers(Hong Kong)Co., LTD. Has set up a file in the May 13 and yongtai real estate Co., LTD, a NaLian real estate equity acquisition of the agreement。Yongtai real estate、NaLian real estate are on the stock exchange of Hong Kong listed companies。

　　根据协议，永泰地产将对其控股的南联地产进行重组。重组完成后，万科置业将通过其全资子公司以港币约10.79亿元收购永泰地产持有的191935845股南联地产股份，占重组后的南联地产已发行股份总数的73.91%，收购价格相当于港币5.6197元/股。

According to the agreement，Real estate to their holding intcgrated the NaLian real estate restructuring。Restructuring after the completion of the，China vanke home buyers will through its wholly owned subsidiary of about 1.079 billion yuan in Hong Kong dollars purchase real estate holdings of 191935845 strands yongtai NaLian property shares，The NaLian property reorganization of 73.91% of the total number of shares issued，The purchase price is equivalent to hk $5.6197 per share。

　　7月17日，万科再发公告称，由于南联地产已于7月16日完成公司重组，按照有关规定，附属全资子公司以完成对南联地产的股权收购，已经持有重组后的南联地产205835845股股份，占重组后的南联地产已发行股份总数的约79.26%，收购价格每股港币5.6197元。

July 17,，China vanke again hair announcement said，Because NaLian real estate already on 16 July to achieve company restructuring，According to the relevant provisions，Attached is a wholly owned subsidiary of NaLian real estate to complete the share purchase，Have held the NaLian property reorganization in 205835845 shares，Accounting for the NaLian property reorganization issued about 79.26% of the total number of shares，The purchase price hk $5.6197 per share。

　　传统四大房企“招保万金”中的三个都在谋求香港收购，不能不说这是一种趋势。在前面国际投行分析师看来，因为房地产调控使得证监会对房企融资卡的非常严，之前许多房企都暂停了增发，而且国内资本市场又很糟糕，因此大家把融资平台放到了香港是一个不错的选择，虽然香港的资本市场今年也不是很好，但至少还有机会融资，而且成本很便宜，更为关键的是到香港收购一家“壳”公司很便宜。

The traditional four big room enterprises“Recruit the gold”Of the three are seeking to Hong Kong takeover，Have to say this is a kind of trend。Analysts see international investment Banks in front，Because real estate securities regulation to make room enterprises financing card is very strict，Many room before were suspended by the enterprises，And domestic capital market and is very bad，So everybody to financing platform on the Hong Kong is a quite good choice，Although the Hong Kong capital market this year also is not very good，But at least have the chance to financing，And the cost is very cheap，The more critical to the purchase of a is to Hong Kong“shell”The company is very cheap。

　　上述投行分析师还认为，不排除今后会有越来越多的内地房地产企业到香港来进行收购。

The investment bank analysts also think，Don't rule out future there will be more and more mainland real estate enterprise to Hong Kong to purchase。