In 1996, Panxi Restaurant was awarded the "Chinese Time-honored Brand";
In 1997, Panxi Restaurant was rated as a national-level premium restaurant;
In 1998, Panxi Restaurant Xi Restaurant is known as a famous trademark in Guangzhou. The equity transfer reform of two "time-honored" brands, Lianxianglou and Panxi Restaurant, which has attracted much attention, has finally been finalized. Reporters learned yesterday from the Guangzhou Equity Exchange that the equity transfer of two time-honored brands officially passed expert review recommendations on August 21, 2006, confirming that they were taken over by Xiguan Shiyuan Garden Restaurant in Liwan District, Guangzhou and Hong Kong-listed company Sizhou Group respectively. Among them, the transaction price of Lianxiang House was slightly higher than the reserve price, and the transaction price of Panxi Restaurant was nearly 4 million yuan higher than the reserve price, with the transaction prices reaching more than 51.2 million yuan and 38 million yuan respectively.
The latest agreement clarifies that the acquirer and the target company after the acquisition will bear all the claims, debts and other economic and legal responsibilities of Lianxianglou and Panxi Restaurant, and guarantee to maintain the industrial and commercial tax regulations of the two time-honored brands. Registration in Liwan District remains unchanged and taxes are paid in Liwan District in accordance with the law. The major principles previously determined remain unchanged: after the transfer, the trademark and font size remain unchanged, the business direction remains unchanged, the business site cannot be used for other purposes, and existing cultural relics must be protected and utilized.
In addition, Xiguan Shijia and Sizhou Group promise to give priority to current employees of Lianxianglou and Panxi Restaurant under the same conditions and protect their legitimate rights and interests in accordance with labor laws.
The letter of commitment reached by the two takeover companies and the Liwan District Government clarified the use of time-honored trademarks and font sizes. It is clarified that after transferring the equity of the target enterprise, it must use the target enterprise's time-honored trademarks and pay trademark usage fees to the trademark owner (Guangzhou State-owned Assets Supervision and Administration Commission). At the same time, it is not allowed to register corporate derivative trademarks by itself, and it is not allowed to sublease or transfer time-honored trademarks. . The specific trademark usage fee standards are initially set at 1.37 million yuan and 550,000 yuan for Lianxianglou and Panxi Restaurant respectively, with annual increases of 3. According to Li Zhengxi, general manager of the Guangzhou Equity Exchange, who was responsible for the equity transfer, after previous public solicitations, Lianxiang House and Panxi Restaurant collected 9 and 8 intended acquirers respectively, including large-scale acquirers from Singapore and Malaysia. Catering groups, as well as local catering companies. After bidding response and expert review and recommendation confirmation, Xiguan Family and Sizhou Group finally became the transferees of Lianxiang House and Panxi Restaurant respectively.
The issue of employee resettlement after the restructuring of state-owned enterprises has always attracted much attention. It is reported that in the bidding documents related to the transfer of Lianxiang House and Panxi Restaurant, it is clear that the employee resettlement fees will be borne by the new investor, and the new investor will bear the employee resettlement compensation fees up to the handover date of the target company. Among them, as of November 30, 2005, the base date of the project evaluation report, Xiguan Family has to bear the resettlement compensation fee of 16.32 million yuan for the employees of Lianxiang Building, and Sizhou Group has to bear the resettlement compensation fee of 9.5 million yuan for the employees of Panxi Restaurant. The transferee is responsible for the employee resettlement compensation from November 30 last year to the official handover date between the two parties. At present, the specific handover date has not yet been determined.
It is reported that the relevant agreement signed between the acquirer and the equity owner (i.e. the transferor) - the Liwan District Government clearly states that although it is an overall equity transfer, 1 of the golden shares will still be retained by the Liwan District Government. hold. According to asset evaluation, as of November 30, 2005, Lianxiang Tower had total assets of 91.63 million yuan, total liabilities of 24.1 million yuan, and net assets of 67.53 million yuan. Panxi Restaurant has total assets of 72.99 million yuan, total liabilities of 6.82 million yuan, and net assets of 66.17 million yuan. The base price of Lianxiang Building is based on the net assets minus 9 million yuan in trademark royalties and more than 7.33 million yuan in unpaid land transfer fees. The final bidding price is 51 million yuan. The base price of Panxi Restaurant is based on the net assets minus 5.61 million yuan in trademark royalties, more than 10.95 million yuan in unpaid land transfer fees, and more than 15.5 million yuan in cultural relic value. The final bidding price is 34.11 million yuan.
The reporter learned from relevant parties that currently only the transferees of Lianxiang Tower and Panxi Restaurant have been determined, and the specific date for the two parties to sign the equity transaction contract has not yet been determined. Relevant sources said that issues such as staffing after the transfer will be specified in the contract.
Li Zhengxi said that although the usage period and the principles of disposal after expiration have not yet been clarified, at least it has taken a key step in the reform and transformation of Guangzhou's state-owned time-honored brands, and it is also a far-reaching exploration. He believes that the significance of the overall transfer of the equity of time-honored brands is to rediscover the value of time-honored brands and give time-honored brands an opportunity to make the market bigger and stronger again. The reporter interviewed Xiguan Family and Sizhou Group yesterday. They both said that they had reached an acquisition intention, but they were unwilling to disclose more details. Reporters have learned from many sources that both companies intend to combine their own advantages to tap the potential of time-honored brands and polish their golden brands.
Xiguan Family: Innovating pastries and making cakes
Xiguan Family: Making cakes is also the strength of Xiguan Family. It has a group of technical teams for making cakes, such as the famous " Mr. He Nuan, one of the producers of "Egg Tart" and Datong Mooncake and a national pastry chef, has rich experience and technology in making pastry fillings. At the same time, it will inject new modern management ideas into Lianxianglou, re-standardize the corporate management of time-honored brands, and fully utilize and protect the value of intangible assets. Increase investment in cake (stuffing) technology. The main mooncake products "Single and Double Yolk Lotus Seed Mooncake" and "Five Kernel Mooncake" will be retained. In addition to retaining a certain production quantity according to the original specifications and standards, in response to demand, we will boldly try to reform the traditional mooncake specifications, including the traditional formula, to maximize sales.
Sizhou Group: Develop tourism food culture
Sizhou Group: Position Panxi Restaurant as a tourism destination that skillfully integrates Xiguan food with cultural landscapes and folk activities, and develop tourism food culture. The next step will be to renovate the Panxi Restaurant in a Lingnan garden style while retaining the original garden. At the same time, Panxi’s original strengths in frozen snacks will be combined with Sizhou Group’s distribution network at home and abroad to expand the frozen snack business. On the basis of retaining the traditional characteristics of Panxi, we will develop "multiple dishes and multiple points", improve catering management technology, and try to retain the original employees, but after taking over, continuous training of employees will be required. It is reported that in the overall transfer of the two time-honored brands, the buyer's bid is not the only criterion, but a detailed quantification based on all aspects. In the weight ratio, price accounts for 70, response to transfer conditions accounts for 20, comprehensive strength assessment (including industry affiliation, performance, scale, credit record, management quality, etc.) accounts for 4, and cooperation prospects (including conceptual recognition, etc.) ) accounts for 2, resource integration after acquisition (overall vision and arrangement after acquisition) accounts for 2, and social responsibility to fulfill social obligations after making profits accounts for 2. According to the weight ratio, nine experts from the asset restructuring, economic accounting, legal, food, catering and other industries reviewed the participating bidders.
Xiguan Shijia: A garden restaurant that specializes in Cantonese cuisine and is well-known in Guangdong, Hong Kong and Macao. It is a national special grade (five-diamond) restaurant with an operating area of ??more than 3,000 square meters and an annual operating income of 19 million yuan. Profits and taxes paid were 1.6 million yuan. At present, it has 3 high-end restaurants operated by sole proprietorships and joint-stock companies, 3 other holding companies, and also operates a number of shopping malls. The total operating area is more than 50,000 square meters, and the annual sales volume exceeds hundreds of millions of yuan.
Lianxiang Tower: Founded in 1889, Lianxiang Tower is located in Shangxiajiu Commercial Pedestrian Street, Guangzhou. In its early days, it was the Lianxiang Cake House specializing in pastries and delicacies in Xiguan, Guangzhou. The pure lotus paste stuffing created by Lianxianglou is famous both at home and abroad, and it is known as "the first lotus paste store". "Old Guangzhou" Mr. Wang recalled that in the past, whenever he got married, he had to buy wedding cakes and wife cakes from Lianxianglou to show his worth.
Sizhou Group: a Hong Kong listed company. Founded in 1971, it is mainly engaged in food raw material supply, food manufacturing, food agency, retail, restaurant chain stores and investment holding businesses. It is one of the largest food companies in Hong Kong, with 17 factories in Hong Kong and the mainland. Its annual turnover in 2004 and 2005 was more than 2.2 billion yuan, and its pre-tax profit was more than 120 million yuan. There are many products, such as Shizhou seaweed, Meiji ice cream, Shizhou potato chips, etc.
Panxi Restaurant: In 1947, Li Wenlun, a Cantonese, founded Panxi Restaurant here. The restaurant is close to Liwan Lake and is the largest garden restaurant in the country.
Since the 1960s, Panxi Restaurant has hosted foreign leaders such as British Prime Minister Heath, Australian Prime Minister Fraser, Vietnamese President Ho Chi Minh, Singapore Prime Minister Lee Kuan Yew, US President Bush, Cambodian Prince Sihanouk, and German Chancellor Kohl.