Dazhong and Yongle full merger within a year
Electric also confirmed the two sides was signed on April 19 to implement a comprehensive strategic cooperation agreement, from 21 onwards, both the implementation of unified operation, unified management and procurement, and within a year, by way of share exchange to achieve a full merger.
Yongle (China) was announced in the 21 day listing in Hong Kong announced the results of the first year: in 2005 net profit reached 289 million yuan, up 56% stake in the performance of merger news and jointly promote the Yongle (China) Shares rose 6.83% to close at 4.30 Hong Kong dollars.
Temporarily keeping the two sides
Brand
Song Hong, general manager of Dazhong Electronics
said the strategic cooperation is sized and Wing-lok, following March in Xi'an, Qingdao, a joint venture between the two places after the implementation of further regional cooperation, four years ago, medium and large and have combined Yongle initiated the establishment of "in John Winton" appliance marketing strategic alliances. "Strategic cooperation" to establish relations, but also declared the end of the existing modes of cooperation, the two sides will launch a nationwide comprehensive joint procurement, logistics and delivery, product display, storage, development, storage management,
Finance
Management of the strategic areas of partnership.
Dazhong and Yongle area
said Dazhong Paradise after the merger, the company name will follow the "Yongle (China)," the same, before the formal merger of the "strategic cooperation" stage, will adopt a "large and medium," "Paradise" dual-brand strategy to take full control of areas in their respective advantages other stores, but store signs remain unchanged. The merger, "Dazhong," "Paradise" what to do with the two brands, SONG, said no final conclusion will be measured based on brand value, but will not give up any valuable brand.
Dazhong Electronics Management Director Jiayao Yong said, "51" before the Beijing branch of the part of the Paradise staff will hillock Dazhong Electronics, Wing-lok, 11 in Beijing and Tianjin will be formally incorporated into the large and medium stores management system, Beijing Tianjin Paradise and Dazhong stores all areas will achieve full unity of the price.
Dazhong and Yongle currently in Beijing, Shanghai, occupying more than 50% market share, ranked even home appliances
Locks
5 strong, after the merger
Sell
The total amount to more than 30 billion yuan, which is in itself and 40 billion yuan of annual sales
States United States
With annual sales of 35 billion yuan of
Suning
Counter create Dingli trend.
Uncertain ownership structure
Dazhong and Yongle view that this cooperation is both its advantages, the rapid development of effective outreach strategy, a comprehensive strategic partnership is a home appliance chain industry to merge
Competition
Sign of a more rational, it is possible to promote this fully integrated home appliance chain industry.
Despite confidence in the future merger of the two sides, but still leaves leeway for the formal merger, Yongle (China) mentioned in the announcement, "The merger may also be possible for various reasons can not be achieved." SONG, said the merger process in the coming year, the biggest uncertainty is that both sides of the equity ratio, that is the future "Yongle (China)," The ownership structure, because of large and medium of the sale price and the final allocation will depend on the merger options the two sides of the operation.
The same time, large and medium and Yongle declined after the merger, "Yongle (China)," The Board of Directors and senior management composition. The only certainty is more than a week ago that the North China region vice president, general manager of the Yongle Liu Hui, and will continue in the future, "Yongle (China)" in charge of affairs in North China region, and in the "Strategic cooperation" during the period of the North China Deputy Director of the CMC region.
Some analysts have pointed out that despite the "Northern School" of large and medium and "Hi" and cooperation in the future will face Paradise
Corporate Culture
Integration of this problem, but more and more home appliance chain industry co-operation, acquisition, merger event that some companies are operating and by
Capital
Dual expansion means rapid development of China
Appliance Retail
Market competition from the disorder to healthy development.
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