Beijing Business News (reporter Liu Zhuolan) The progress of Wangfujing's merger with the first business is nearing the end. On October 30, the Beijing Business Daily reporter learned from Wangfujing Group that after the completion of the share exchange involved in the merger between Wangfujing and Shoushang, the total share capital of the company increased from 776 million shares to 978 million shares, and the company issued 201 million new circulating shares with unlimited sale conditions due to the exchange of shares involved in the merger, and was listed on November 2. This marks that at the capital market level, Wangfujing's share swap and absorption of shares has been completed.
According to the previous announcement, after the completion of the absorption and merger, Wangfujing or a wholly-owned subsidiary will inherit all the assets of Shoushang shares. Wangfujing Group covers department stores, shopping malls, outlets, supermarkets, duty-free five major formats, while the company is also building its own business and online business, sales network covering the whole country, has opened 75 retail stores in 35 cities, the annual sales scale of more than 40 billion yuan.
In the core area of Beijing and Tianjin, Shoushang Co., Ltd. owns a large number of well-known commercial projects, such as Lufthansa Outlets Shopping Center, Xidan Shopping Mall, Lufthansa Mall, Guiyou Shopping Mall, Friendship Store, Falla Company and so on. Among them, Lufthansa Outlets is the first outlet in China; Xidan Mall is a well-known long-established brand; And Lufthansa Mall is the earliest high-end department store in Beijing.
Tianfeng Securities said that the absorption and merger can effectively solve the problem of competition between Wangfujing and Shoushang Group, inject high-quality commercial properties into Wangfujing in Beijing-Tianjin area, further strengthen the regional dominant position of Wangfujing's commercial and retail business, and unify the commercial retail market in Beijing-Tianjin. At the same time, Wangfujing's tax-related supply chain and operating capacity will be further improved, and it will empower Wangfujing's tax-free business and promote the accelerated landing of subsequent tax-free business.
It is understood that Wangfujing is currently promoting various integrated businesses in an orderly manner. At present, the Wangfujing Department Store Division has begun to promote the transformation and adjustment of Xidan Shopping Mall, and is currently formulating an adjustment plan. The chairman of Wangfujing Group also said, "When Wangfujing takes over the projects under the first business, it will assess different projects and decide whether the projects are closed, transferred to other formats or upgraded according to different situations. For projects with declining passenger flow and below the average market development, Wangfujing Group will intervene and help accelerate the adjustment and transformation of the project.
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