Is it good or bad for Ocean Shipping to buy Red Star?

Cosco's acquisition of Red Star is a good thing for both sides, because the cooperation won, Red Star paid off its commercial debt, the ocean-going plate was bigger, and the Red Star brand was hung up, which is a good thing.

Ocean Shipping Group 4 billion acquired 70% equity of Red Star Macalline, and 4 billion acquired 70% equity of Red Star Macalline. The three parties will effectively hold 35%, 35% and 30% equity of Chongqing Red Star Macalline Enterprise Development Co., Ltd. to jointly promote the subsequent development and operation of Red Star Macalline. Cosco's acquisition of Red Star Macalline was not only "sold" by Red Star Macalline's asset package, but also by a team of professional managers.

Red Star's real estate business is related to debt. In 2020, Red Star Macalline's performance fell sharply, facing huge debt pressure. Relevant financial reports show that in 2020, Red Star Macalline's revenue was 65.438+04.236 billion yuan, down 654.38+03.56% year-on-year; The net profit attributable to the mother 1.73 1 billion yuan, a year-on-year decrease of 6 1%. Behind the selling of many bonds and falling prices, it highlights the dilemma of Red Star Macalline's high debt ratio and doubled operating pressure.

Ocean Shipping Group believes that the property projects of Hongxing Company are of good quality, which is consistent with the main business of the Group. The Group's indirect investment in the target company through the joint venture company will promote the strategic cooperation between the Group and Red Star Macalline Holdings and pave the way for potential business cooperation in the future. Mutual benefit may not be a bad thing.