| 作者 |
 拭目以待, 且看这个SPAC 能否做成此项并购 (转自BUSINESS WIRE) |
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Diamondhorse
警告次数: 1
头衔: 海归中将
声望: 博导
性别: 
加入时间: 2005/11/01
文章: 4896
海归分: 442560
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作者：Diamondhorse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
转贴者按: 美国专门研究SPAC 的人士不看好这项并购. 觉得中方卖家要的太高. 其实, 国内的公司要价都很高. 开价都要十五倍的PE. 上几天还看到报道有一家叫冠农的, 市盈率为一万倍. 不知是否确切. 最近看国内某行业, 十家上市的公司, PE 平均在三十几倍. 这样的股市, 怎么不往下掉?
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SHANGHAI, China - (Business Wire) Shine Media Acquisition Corp. (OTCBB:SHND)(OTCBB:SHNDW)(OTCBB:SHNDU) ("Shine") today announced the unaudited financial results of its acquisition candidate, China Greenscape Co., Ltd. (“China Greenscape”) and its wholly owned Chinese operating subsidiary, Jiangsu Sunshine Zoology and Forestry Development Co., Ltd. (“Sunshine”), for the three and six months ended June 30, 2008 (see attached tables).
As previously noted, on May 9, 2008, Shine announced that it signed a definitive stock purchase agreement to acquire 100% of China Greenscape, the British Virgin Islands Company that owns 100% of Sunshine. Sunshine, founded in 2002, is one of the largest providers of greenery to China’s growing cities and development zones and is positioned to become one of the largest forest product companies in China in the next 5 years. The company currently has over 18,600 mu (3,100 acres) of growing area and possesses an inventory of over 8 million trees and plants.
Comments from China Greenscape’s CEO
Mr. Henry Zhu, China Greenscape’s CEO, commented, “We are excited to report that during the first half of 2008 we experienced a substantial increase in revenue, margins and earnings and, based on projected timelines associated with our ongoing projects, we are on-track to exceed our 2008 earnings guidance of $27 million. With our existing backlog and a strong pipeline of new contracts, we anticipate that our growth will accelerate in 2009 and that we will exceed our 2009 earnings guidance of $37 million.
China is experiencing a massive migration of citizens from rural to urban areas which has created a tremendous demand for new developments and cities. Over 350 million people are expected to move from China’s rural areas to its cities in the next 20 years and the government expects that at least 20 new cities, equivalent or greater in size to Denver, will be created each year to accommodate this massive migration. The PRC government has mandated that all cities are to be designed with considerable open space and ‘greenery’, not only for aesthetic and beautification purposes, but also to help combat pollution. This exciting situation continues to create significant demand for our greenery products.”
Mr. Zhu continued, “China’s greenery market is a very unique, high-growth market that is being fueled by the massive infrastructure expansion of its cities at a magnitude the world has never experienced before. Our business model is designed to meet the large-scale greenery demand generated by this massive infrastructure expansion. We are one of a select few companies in all of China that has the scale and agricultural expertise to supply millions of trees and plants to meet the greenery needs of entire cities and development zones. Most other companies involved in this fragmented market can only supply a few hundred trees and plants at a time to small areas within a city and, unlike China Greenscape, are typically not a ‘safe’ and reliable choice for city planners whose job is at risk if the city development is not done on-time and to the specs provided.
In addition to our 18,600 mu [3,100 acres] of growing area, we have the largest botanical laboratory in China and 96 mu [16 acres] of greenhouses, which gives us the unique ability to develop extremely low-cost trees and plants through cloning and other proprietary techniques. This in-house tree and plant production capability, combined with our operational scale, allows us to enjoy healthy gross margins of well over 50%, which we expect will continue into the foreseeable future.
We look forward to closing the merger with Shine and becoming a U.S. publicly listed company.”
Summary of Three Months Ended June 30, 2008
For the three months ended June 30, 2008, Sunshine generated revenues of $15.0 million, an increase of 56.2% from $9.6 million for the three months ended June 30, 2007. Gross profit for the three months ended June 30, 2008 was $10.3 million, up 94.3% from $5.3 million for the same period in the prior year. Gross margins increased to 68.6% from 54.9% in the same period of 2007 as a result of higher margin trees and plants comprising a greater proportion of its revenues over the period. Net income for the three months ended June 30, 2008 was $9.1 million, an increase of $4.3 million, or 88.1% from $4.8 million for the same period in the prior year. Comprehensive income of China Greenscape for the three months ended June 30, 2008 was approximately $10.3 million.
Summary of Six Months Ended June 30, 2008
For the six months ended June 30, 2008, Sunshine had revenues of $23.6 million, an increase of 45.6% from $16.2 million for the six months ended June 30, 2007. Gross profit for the six months ended June 30, 2008 was $15.6 million, up 67.9% from $9.3 million for the same period in the prior year. Gross margins increased to 65.9% from 57.1% in the same period of 2007 as a result of higher margin trees and plants comprising a greater proportion of its revenues over the period. Net income for the six months ended June 30, 2008 was $13.4 million, an increase of $4.9 million, or 57.6% from $8.5 million for the same period in the prior year. Comprehensive income of China Greenscape for the six months ended June 30, 2008 was approximately $16.5 million.
About Shine Media
Shine Media is a blank check company whose IPO went effective in December 2006. In May 2008, Shine Media signed a definitive stock purchase agreement pursuant to which it will acquire 100% of the equity of China Greenscape, the 100% owner of Sunshine. Founded in 2002 and with over 3,100 acres of growing area and over 8 million trees and plants in its inventory today, Sunshine is one of the largest providers of greenery to China’s massive infrastructure expansion. Additional information regarding Shine Media, China Greenscape, and Sunshine is available in the Form S-4/A that Green China Resources Inc., the BVI subsidiary of Shine Media, filed with the Securities and Exchange Commission on August 27, 2008. A copy of the filing in its entirety is available at www.sec.gov.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, about Shine Media, China Greenscape, Sunshine and their combined business after completion of the proposed acquisition. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Shine Media’s, China Greenscape’s and Sunshine’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in China; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Sunshine is engaged; cessation or changes in government incentive programs: fluctuations in customer demand; management of rapid growth and transitions to new markets; intensity of competition from other providers of nursery stock and other greenery products; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks detailed in Shine Media’s BVI subsidiary, Green China Resources filings with the Securities and Exchange Commission, and the registration statement on Form S-4. The information set forth herein should be read in light of such risks. Neither Shine Media, China Greenscape nor Sunshine assumes any obligation to update the information noted within in this press release.
The statement of income for both, China Greenscape and its 100% owned operating subsidiary, Sunshine, are provided below. Because China Greenscape did not acquire Sunshine until June 27, 2007, Sunshine’s statement of income is included for comparison purposes. China Greenscape’s statement of income reflects Sunshine’s operating results and some additional merger related expenses.
以下略去财务报表, 不做财会的大概不想看.
作者：Diamondhorse 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 拭目以待, 且看这个SPAC 能否做成此项并购 (转自BUSINESS WIRE) -- Diamondhorse - (8392 Byte) 2008-8-28 周四, 11:51 (2131 reads) - 冠农的情况特殊点 -- 小报记者 - (70 Byte) 2008-8-28 周四, 12:48 (263 reads)
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