1. Incidents.
Decisions of the sixth board of directors and plans for the non-public issuance of A-shares were announced, and trading resumed at the same time.
2. Our analysis and judgment.
(1) Pay attention to equity change reports, shareholder return plans, and issuance plans.
Jin Su Asset Management, Financial Equity Investment, and Jinhui Equity Investment, which were established in the first half of this year, will hold 3.49%, 2.62%, and 2.62% of Weiwei's shares respectively after the non-public offering (issuance of no more than 160 million shares at 5 yuan per share); the executive affairs partners of the three limited partnership companies are all Shenzhen Jinshi Asset Management Center (limited partnership), where 4 natural persons own 100% of the company's shares, will indirectly control 8.73% of the company's shares.
The company will stick to cash dividends in the next three years (2015-2017), and plans to revise its statutes. The highlight is to propose differentiated cash dividend policies: different cash dividend ratios at different stages of development, such as those with significant capital expenditure arrangements during the growth period or those that are not easy to distinguish between stages of development but have major capital expenditure arrangements, at least 20%; independent directors can solicit opinions from minority shareholders, put forward dividend proposals, and submit them directly to the board of directors for consideration.
In the future, the company will continue to focus on the “big food” strategy, further expand the industrial group, keep an eye on market segments with large growth potential such as vegetable protein drinks, fruit drinks, tea drinks and other health foods, take the opportunity to expand diversified industries, take advantage of the company's mature marketing network and brand influence, exert synergies, and continuously expand its business scale.
(2) Focus on the big food strategy and stick to two-wheel drive.
At the beginning of 2013, the company proposed a “big food” focus strategy, which is to concentrate superior resources to strengthen, expand, deepen, and expand the main food business, then make full use of geographical advantages to participate in urbanization construction, and use the real estate sector as an effective complement to the food cluster. We believe that the company will unswervingly adhere to the “Big Food Strategy”, adhere to the two-wheel drive of capital operation and product operation, promote product structure upgrades, and achieve leapfrog development.
3. Investment advice.
Investors can pay attention to the three highlights of equity change reports, shareholder return plans, and issuance plans, and focus on the company's expansion around the grain industry chain, two-wheel drive capital operations and product operations, and maintain “recommended” ratings.
