What is the "Jinjiang Model"

Classification: Education/Science >> Science and Technology

Problem description:

I've heard that this term is upside down, but I don't know what it is. Can a talented person explain? Thanks in advance.

Analysis:

The "Jinjiang Model", the one-year restructuring goal of Jinjiang Department, attracts people's attention.

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Finance. Tom August 2004 19 07: 32 Source: shanghai securities news.

The group has brought vitality to the mode of leading holding a number of listed companies.

Just when the overall listing is hot, the mode of holding a number of listed companies with the group as the leader also has considerable vitality.

CEO of Marriott International, a fortune 500 company that frequently buys assets after entering China, is full of expectations for the restructuring of Jinjiang International, because Jinjiang Department recently handed over an eye-catching answer sheet: it has achieved the strategic restructuring goal.

"Jinjiang Department" appeared in the reorganization.

Jinjiang International Group is the largest shareholder of Shanghai Xinya (Group) Co., Ltd., Shanghai Xinjinjiang Co., Ltd. and Shanghai China International Travel Service Co., Ltd., and * * * * * * holds the state-owned shares of three listed companies. Among them, the proportion of state-owned shares is 42.32%, 40.48% and 50.2 1% respectively.

In August 2003, in order to give full play to the financing function of the securities market, give full play to the leading role and control power of state-owned capital, and speed up the implementation of the group's asset integration, Jinjiang International Group, under the leadership of Shanghai SASAC, combined with the needs of the group's industrial structure adjustment, implemented a large-scale, all-round and multi-form strategic restructuring. Three listed companies announced their name changes in September 2003, January 2004/KLOC-0 and February 2004, respectively, and "Xinya Shares" was renamed "Jinjiang Hotel". "New Jinjiang Shares" was renamed as "jinjiang investment"; "CITS" was renamed as "Jinjiang Tourism". A brand-new "Jinjiang Department" appeared in the capital market with BLACKPINK.

Then, Jinjiang International implemented a large-scale, all-round and multi-form asset restructuring of three listed companies around the strategic goal of "three national firsts" and speeding up the docking with international capital in the hotel, catering and tourist passenger transport industries.

Jinjiang International Group Company transferred 0/00% equity of Jinjiang International Hotel Management Co., Ltd. to Jinjiang Hotel, and acquired 18 corporate equity and 1 branch assets invested by Jinjiang Hotel, which made Jinjiang Hotel form an industrial structure with hotel industry and catering industry as the core.

Jinjiang International Group Co., Ltd. will replace the divested 95% equity of Shanghai Jinjiang Automobile Service Co., Ltd. (including automobile business license), 45% equity of Shanghai Jinhaijieya International Freight Co., Ltd. and 49.5% equity of Volkswagen Xinya Taxi Company with jinjiang investment assets and equity such as "New Jinjiang Hotel" and "Jinjiang Star" to help "jinjiang investment" focus on developing passenger and freight logistics industries and establish. The reorganization of "jinjiang investment" began in June+10 last year and lasted for five months. On March 26, 2004, it was officially approved by the issuance audit Committee of China Securities Regulatory Commission, and entered the stage of operating procedures and handling relevant formalities.

Establish Jinjiang Tourism as the main tourism industry, acquire 0/00% equity of Shanghai Jinjiang Tourism Co., Ltd. held by Jinjiang International Group Company, and transfer 25% equity of Jinjiang Star to the group company. "Jinjiang Tourism" takes the development and operation of travel agency business as the core, and establishes an industrial structure with the travel agency industry as the core. This proposal was approved by China Securities Regulatory Commission on June 5438+10/October 65438+April, 2004, and passed by the board of directors and shareholders' meeting.

On May 25th, 2004, the legal procedures and related procedures for the reorganization of Jinjiang International were completed one after another. The total assets operation reached 3 1. 1 100 million yuan, involving 3 1 company, which successfully realized the docking with hotels, restaurants, tourism and other main businesses, laid the foundation for the implementation of the group's development strategy and achieved the goal of the group's strategic restructuring.

Listed companies reported a bumper harvest in the interim report

According to the data, the assets reorganization of listed companies of Jinjiang International Group is to replace the stock assets of listed companies with high-quality assets or cash, or to replace non-main business assets with main business assets, including overall asset replacement, partial asset replacement, asset divestiture and mergers and acquisitions. According to statistics, the main business income of the three listed companies before reorganization was 65.438+0.57 billion yuan, and it reached 4.39 billion yuan after reorganization, an increase of 2.833 billion yuan, with an increase of 65.438+0.82%; Before reorganization, its main net profit was 53.63 million yuan, and after reorganization, it reached 2,654.38+0,654.38+0.65.438+0.60 million yuan, an increase of 6,543.8+0,575.300 yuan, an increase of 294%.

On August 9, 2004, 16 and 17, the three reorganized "Jinjiang Department" listed companies, held separate board meetings and released their interim reports for 2004. The mid-year report in 2004 shows that the performance of three listed companies controlled by Jinjiang International Group has greatly improved compared with that before the reorganization. Among them, Jinjiang Hotel's net profit increased by 47.52 million yuan year-on-year, reaching 6 1.5 million yuan, with earnings per share of 0.1.0 9 yuan, and the return on net assets increased from 0.08% in the same period last year to 3.43%. Jinjiang investment's net profit reached 63010.3 million yuan, earnings per share was 0. 1. 1.4 yuan, and the return on equity was 3.93%. The net profit of Jinjiang Tourism is 6.5438+0.409 million yuan, the earnings per share reaches 0. 1 1 yuan, and the return on net assets is 3.30%.

The "Jinjiang Model" is eye-catching.

Dr. Zheng Xingang of Shanghai Jiaotong University believes that "Jinjiang International's restructuring model has explored the way for the restructuring of local SASAC. At present, the local SASAC is being set up. However, due to historical reasons, the local SASAC is still lacking in exercising its functions, especially in the integration of state-owned assets. The reorganization of Jinjiang International embodies three characteristics: first, it integrates scattered industries into core industries, exerts the effect of high-quality assets and resources, and improves the asset quality of listed companies; Second, through the substantial increase in operating profit of core industries and the substantial increase in return on net assets, the main business income of listed companies has been improved; Third, the growth of the main business has greatly increased the cash flow generated by the operating activities of the three listed companies. Jinjiang Group's restructuring model is to highlight its main business and strengthen its main business, which is consistent with SASAC's separation strategy. "

Yu Kai, a securities researcher, said: "Now state-owned assets must be listed as a whole, and even some provincial and municipal state-owned assets must be listed overseas as a whole. In fact, it is the fundamental purpose of state-owned assets to integrate industries, strengthen the main business and realize the preservation and appreciation of state-owned assets. " (Reporter Li Xiaoning)

Main financial indicators of listed companies in Jinjiang in mid-2004

Company name Net profit (ten thousand yuan) Earnings per share (yuan) Return on net assets (%)

Jinjiang Hotel 61500.10193.43

Jinjiang investment 63130.1143.93

Jinjiang Tourism1409 0.113.30

Jinjiang Inn Limited is a subsidiary of Jinjiang International Group, the largest comprehensive tourism enterprise group in China. It is a professional company that manages Jinjiang Inn, the largest economic hotel chain in China and the first in China. The company was established in 1996 with a registered capital of172.97 million yuan. "Jinjiang Inn" is a famous trademark in Shanghai and a famous brand of China economy hotel chain.

Since its establishment, the company has built a third-generation economy hotel with simplicity, exquisiteness, noble taste and outstanding home characteristics with the concept of serving customers wholeheartedly and making customers completely satisfied, the business purpose of * * * business development, * * creating a win-win situation and giving back to the society, and the enterprise spirit of innovative development, casting details and pursuing Excellence. Established an independent reservation system with advanced facilities and perfect functions, as well as Jinjiang Star website and member clubs; Created a systematic management model with the characteristics of Jinjiang Star; Jinjiang inn hotel management college was established to train all kinds of management talents of economic chain hotels.

Through the brand management of Jinjiang Inn, the company manages hotels and sells franchise rights, and provides all-round support and services such as brand, sales, management, training and technology for franchised hotels. In order to promote the healthy and orderly development of Jinjiang Star brand franchise, Jinjiang Star Hotel operated and managed by the company provides guests with Jinjiang Star quality service in accordance with the mode of unified business projects, consistent service marks, standardized management standards, advanced marketing strategies, convenient operation system, networked chain and resource sharing, featuring "cleanliness, high quality, economic comfort, safety and convenience".

Over the years, with the honest and pragmatic style and the spirit of keeping pace with the times, the company has practiced the business philosophy of economic chain hotels synchronized with the world, and achieved today's achievements, winning customer satisfaction, market recognition and social respect. Nowadays, the company not only owns the well-known economical hotel chain brand "Jinjiang Star", but also owns the catering brand "Jinjiang Chef" featuring "nutrition, material benefits and fashion" to meet the needs of business guests and the public. By the end of 2005, the total scale of Jinjiang Inn reached 65,438+065,438+00 (including projects under construction), with 65,438+05,475 rooms, covering 20 provinces and cities in China and distributed in 37 cities. The assets under management reached 654.38+0.5 billion yuan. The company aims to develop 200 Jinjiang Stars in the near future, and the strategic development goal is 1000.

The company will continue to operate with high starting point, high goal, high standard, high speed and more professional, actively promote the strategic development process of Jinjiang Inn, and make unremitting efforts to build Jinjiang Inn into a chain international brand trusted and loyal by consumers.