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Wing-lok, medium and large-scale merger of the country already caught up to the United States - Yong

By: HotBoy

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Way is through the stock exchange, with Beijing Dazhong Electrical Appliance Co., Ltd. to merge.
Appliance Retail
Even
Locks
The youngest and fourth eldest finally come together, if the success of their merger, the size of the domestic home appliance retail chain boss catching
States United States
.

Yesterday (April 23, 2006), according to general manager of Beijing Dazhong SONG introduction, the combined medium and large
Brand
Remain, the two sides according to their respective geographic advantages, the implementation of North-South regional management, Paradise in the north of the 11 stores will be included in the following large and medium management system.

Start all-round strategic partnership

Yesterday (April 23, 2006), Song Hong, general manager of Beijing Dazhong disclosed, the two sides was signed on April 19 related to the agreement, implementation of a comprehensive strategic cooperation between the parties. From now on, the two sides start including joint procurement, logistics and delivery, product display, storage, development, storage management,
Finance
Management, information systems and personnel exchanges, including elements of strategic partnership.

Regard to the specific way of equity swap, Song Hong, said the combined company ownership structure in both Da (Beijing Dazhong Electrical Appliance CEOs) and Chen Xiao (Paradise boss), but also
Investment
People. But the SONG not disclosed how much each share of stock: "There are no accurate figures can be informed."

Yongle spokesman Huang Jianping, said the company's sales, according to two degrees and profitability, through the internationally recognized
Accounting
Management formula, a year or so.

Dazhong brand reservations

SONG denied the acquisition of medium and large this is Paradise. SONG that is the international common share exchange company bigger and stronger cooperation between the rapid methods.

SONG that medium and large appliances with Yongle (China), merger, it can be fast, efficient and quality completion of the listing process, can be among a limited liability company as part of a large listed company, so as to listed companies standards and norms to manage the company's business, to promote the healthy functioning of the company further.

Merger, Wing-lok, medium and large scale will rapidly expand. SONG, said the total annual sales of medium and large and Paradise in the 25 billion? 30 billion between the two companies in Shanghai and Beijing are more than 50% share of the market, sales have more than 25 billion yuan.
North and South were managed

However, Song Hong, said the establishment of this strategic partnership is not in any
Competition
Partner for the "imaginary enemy" and advocated the establishment of the same industry have a rational harmony between the "family home appliances", combined purpose is to "strategic cooperation, give play to advantages, speed up development."

Contract
The two sides will be based on the process advantages of north and south of their respective management to the existing management structure of large and medium and Wing-lok, daily operations, not to set up a separate regulatory body. As Wing-lok has entered the Beijing market SONG that does not exist after the merger competition between the two sides, medium and large are now 72 stores in Beijing and Tianjin, and Wing-lok, a total of 11 in Beijing and Tianjin (Beijing 7, Tianjin 4) stores into large and medium management system as soon as possible, as the medium and large stores are managing.

For Paradise weakness in the Beijing-Tianjin region, said Song Hong, 11 Wing Lok stores into the large and medium management, medium and large electrical appliances is part of medium and large appliances in the Beijing-Tianjin region has indisputable competitive advantage, large and medium will increase its profitability. However, the profitability of some weak or not suitable for future development requirements of the home appliance chain stores, to act decisively to Guantingbingzhuan.

Yesterday (April 23, 2006), China Paradise was up 6.8 percent; Gome fell 3.2 percent.

Article Source: http://depositarticles.com/

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