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国美电器股价暴跌13% 收购黄光裕资产不被看好 - 站长搜索
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国美电器股价暴跌13% 收购黄光裕资产不被看好

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2015-07-27 16:48:08 转载来源: 网络整理/侵权必删

昨天,国美电器发布了一则公告。其核心是:收购黄光裕控制的非上市门店资源,以及供应链

昨天,国美电器发布了一则公告。其核心是:收购黄光裕控制的非上市门店资源,以及供应链。整个交易112.68亿港币。

今天开盘之后,国美电器暴跌。出现这种情况的原因是什么?是否意味着资本市场并不看好国美的这起资产重组?国美电器股票暴跌背后的原因又是什么?

1、股票下跌实属正常,但跌幅超乎想象。

需要指出的是,整个香港资本市场都特别不好。绝大多数股票都处于下跌通道,恒生指数大跌超过2个点。截止发稿时为止,国美电器的股票暴跌了13.70%。

2、国美非上市门店到底是不是优质资产?

黄光裕和陈晓争夺国美电器控制权的时候,黄光裕的杀手锏产品,就是国美商标和国美的非上市门店。应该说,陈晓最后输给黄光裕,以及资本投票的根本出发点,还是黄光裕手里的这些非上市资源。

但此一时,彼一时。在当时,家电连锁仍然是中国家电销售的主流趋势,电商对传统渠道的冲击力并不大。但如今,京东为代表的线上模式对传统卖场产生了致命的冲击,连国美苏宁也在积极谋求转型。所以,时至今日,这部分的资产实际上是一定程度的贬值了。

所以,资本市场对这起重组并不感冒,甚至出售了国美电器的股票。

3、公司治理结构上,黄光裕开始绝对控股。

当年,黄光裕和陈晓之争,黄光裕侥幸取胜。经此一役,通过非上市公司资产注入,黄光裕的控股权提升到了55.3%,这意味着,国美电器将重新回归黄光裕一言堂时代。

当然,这个事情,并不一定是坏事。对于一个优秀的企业家来说,下属推行高效率的执行力,对于公司绝对是好事。当然,如果绝对控股大股东的决策失误,则有可能把公司带进深渊。

4、重组背后的信息。

不管从哪个角度来看,这一交易都对大股东利好。这意味着,黄光裕正在积极行使自己的权力,并且开始实现对公司的绝对控制。这应该是为黄光裕出山做的一层铺垫。联系到之前国美股价异动,我们有理由猜测,黄光裕出山不会太久了,而国美电器正在做好迎接大股东的准备。

结束语:

资本市场只注重自己的利益,股票暴跌或者上涨,只能部分说明问题,但不会是全部。对于不急于套现的黄光裕来说,股票高低其实并不重要,重要的是对公司的决策权抓在手里,只有这样,后续改革抑或推行新政,才不会有阻力,而这才是黄光裕最看重的。至于股价,当年6毛钱的时候黄光裕都熬过来了,还会在乎今天的1.29元吗?

声明:本文仅代表作者个人观点,不代表站长搜索立场。

标签: 国美电器 股价 暴跌 收购 黄光裕 资产 不被 看好


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