Beibo shares soared, selling land and stocks to attract investors
The surge in performance depends on the “sale of land”, “selling equity”, the value of Beibo shares, and the opportunity to invest. The reporter Ge Aifeng, an intern, He Hailong, Zhengzhou reported that the stability and growth of listed companies ‘operations are increasingly affecting investors.Growth and “continuity of performance” are particularly important for investors’ choice of opportunities, and some listed companies rely on gimmicks such as “land sale”, “sell equity”, “investment hotspot” to achieve performance growth to attract investors “tricks”It is difficult to avoid persistence.
On April 20, Luoyang North Glass Technology Co., Ltd. (hereinafter referred to as “North Glass”, 002613).
(SZ) released its 2017 annual report, saying that the company’s operating income in 2017 was about 11佛山桑拿网.
34 trillion US dollars, an annual increase of 29.
27%; net profit attributable to shareholders of listed companies is approximately -0.
5.9 billion, down 345 each year.
Four days later, Beibo issued the first quarterly report for 2018. The company’s net profit attributable to shareholders of listed companies was 8021 from January to March 2018.
860,000 yuan, an annual increase of 5103.
The company stated that its net profit increased from the same period of the previous year, mainly due to the investment income obtained by transferring part of the equity of its holding subsidiary Beijing Beibo Safety Glass Co., Ltd. (hereinafter referred to as “Beijing Beibo”).
As the largest glass deep-processing equipment R & D and manufacturing company in China, Beibo Co., Ltd., its new business expansion has been hindered and its profits have been in the foreseeable future. The core subsidiaries have made breakthroughs in business performance, and continue to be a “bottom pit” or a “corner pot” that puzzles the project.The so-called “white horse stocks” have gradually encountered market siege, and the increase in performance has made it difficult for the public to distinguish between “true and false”.
Behind the skyrocketing performance, Northglass Co., Ltd. is mainly engaged in the research and development, design, and manufacturing of glass deep processing technology and equipment. The main business is completed by five major production bases in Luoyang, Shanghai, Tianjin, Beijing, and Guangdong. The company’s high-end glass is said to have gained international market.Acknowledged that it has become a world-renowned brand of high-end engineering glass, with many well-known projects including Apple Inc., Shanghai Disney, London City Hall, Van Gogh Museum, Amsterdam, Netherlands, and the new library of Marenda City Hall in Toronto.Cooperation.
Regarding the “income increase and profit reduction” of the 2017 annual results, Beibo explained that the main reason is that the management expenses in this period increased by 2174 compared with the same period of the previous year.
840,000 yuan, selling expenses increased by 1328 compared with the same period last year.
170,000 yuan, resulting in an annual increase of 19 during the period.
77%; the impairment loss on assets formed by accruing bad debts increased by up to 386.
91%, an increase of 3982 per year.
On April 24, Beibo Co., Ltd. released the first quarter report of 2018, and the company realized operating income from January to March 20182.
5.9 billion, an annual increase of 34.
08%; net profit attributable to shareholders of the listed company is 8021.
860,000 yuan, an annual increase of 5103.
44%, the company’s earnings are zero.
Regarding the “surge” in the first quarter of 2018, Beibo stated that it mainly received the equity transfer payment from Beijing Beibo, a transfer holding subsidiary, and investment income increased.
At the same time, for the future semi-annual report results, Beibo expects that the net profit for the first half of 2018 and the same period of the previous year will be turned into a profit of 8350.
820,000 yuan to 9649.
Beibo shares reduced its 54% stake in “Beijing Beibo” to zero.
The price of US $ 9.5 billion was transferred to Beijing Liandong Jintai Investment Co., Ltd., which has the strength of developing new industrial parks.36% of Beijing Beibo shares.
On January 17, 2018, the company received the aforementioned transfer payment of 0.
USD 9.5 billion completed the equity change process.
Northglass Co., Ltd., which was still losing money last year, suddenly experienced a “surge” in the first quarter of this year, and such performance growth advantages were achieved by “selling land” and “selling shares”. Although the performance contribution was immediate, it also made the publicSuddenly.
”Huaxia Times” reporter found that in the announcement on December 13, 2017 regarding the reply to the Shenzhen Stock Exchange’s inquiry letter, as stated on November 30, 2017, Beijing North Glass, located in Tongzhou District, BeijingIt was basically discontinued at that time.
Subsidiary performance or “Water Moon” In addition to the above-mentioned Beijing Beibo, which has been discontinued for commercial development, the performance of Beibo’s subsidiaries in 2017 also disappointed investors.
As of the end of 2017, Shanghai Beibo Automation Technology Co., Ltd. (hereinafter referred to as “Northglass Automation”), which is a 55% holding company of Beibo Holding Co., Ltd., and Shanghai Beiglass Glass Technology Industry Co., Ltd.） “Shanghai Beibo”), Luoyang Beibo Taixin Fan Technology Co., Ltd. (75%), Tianjin Beiglass Glass Industry Technology Co., Ltd. (90%)(Referred to as “Tianjin Beibo”), holding 90% of Beijing Beibo, wholly-owned Shanghai Beibo Coating Technology Co., Ltd., and 51% of Guangdong Beibo Zhenxing Glass Technology Industry Co., Ltd. (hereinafter referred to as “Guangdong Beibo”), A subsidiary of Guangdong Beibo Electronic Glass Co., Ltd. (hereinafter referred to as” North Glass “) holding 51% of the shares.
According to relevant data statistics, the 2017 performance data of Beibo Subsidiaries are: Shanghai Beibo’s operating income is about 2.6.7 billion, of which net profit is about 0.
12 ppm; Beibo Taixin has a maximum operating income of approximately 0.
83 trillion, of which net profit is about 7.32 million; Tianjin Beibo’s transnational operating income is about 1.
43 trillion yuan, of which net profit is about -7.09 million yuan; Beijing Beibo’s annual operating income is about 0.
4.6 billion, of which net profit is about 0.
11 trillion; Shanghai plating film operating income of about ten years.
1.9 billion, of which net profit is about 0.
20 trillion; Guangdong Beibo border business income is about 0.
24 trillion, of which net profit is about -579 million; Beibo Electronics’ continuous operating income is about 2.
4.7 billion yuan, of which net profit is about 0.
Among the above-mentioned Northglass subsidiary companies, the newly-built Northglass Automation was completed as early as June 2015. At that time, the investment progress was 100% completed. The company also said at the time that “it is expected to increase sales revenue by 50 million yuan and increase net profit by 6 million yuan.”.
However, Beibo Automation’s 2016 net profit was -1324.
940,000 yuan, for the realization of the expected benefits, North Glass Co., Ltd. said that the main product automation complete line is still in development and debugging, has not formed commercial production.
”Huaxia Times” reporter inquired about the relevant data of Beibo and found that Beibo Automation’s 2017 net profit was -970.
At 32 million U.S. dollars, Beibo still claims that the R & D time of the main product automation line is longer than expected, and the expenditure on R & D costs continues to increase, without commercial production.
”Since its establishment, it has been the original intention of Beibo Automation since its establishment. The profit target has far exceeded expectations, but the R & D cycle is still increasing. Why does this problem occur and how long will it take in the future?
A professional who asked not to be named said that Beibo should explain the above issues to the public more seriously, and have more concrete measures on how to solve the above problems.
The same agreement for Guangdong Beibo was completed on December 9, 2015 by Beibo Co., Ltd. to complete the transfer of 51% of Guangdong Beibo’s 51% of the company’s estimated average profit for three years from 2016 to 2018.
According to the “forecast”, the average profit of Guangdong Beibo, which was set up specifically for the acquisition, was about 5.3 million yuan in 3 years, and a total of 3723 million was paid for Beibo shares, resulting in a goodwill of 26.46 million yuan and a provision of 2131.
420,000 yuan impairment provision.
Gao Xueming, chairman of Beibo Group, once said that Guangdong Beibo will surely make glass printing and auto glass pretreatment automation technology excellent products, becoming the first in the world.
However, in reality, as the “beautiful” expected by Beibo Co., Ltd., as a “quality asset” specially established for acquisition, Guangdong Beibo has been slow to post-acquisition performance. The subsidiary’s 2016 net profit was -341.
380,000 yuan, with a net profit of about -57.9 million yuan in 2017. Guangdong Beibo, which has been established for 2 years, has not yet achieved a turnaround.
Beibo explained in its annual report that due to market reasons, the product has been upgraded to the high-end automotive glass market, but due to the long product design and production cycle, real sales have resulted in a lower-than-expected revenue for Guangdong Beiglass.
Faced with such a shrinkage, is it due to changes in the market environment or congenital defects in assets that confuse investors?
Tianjin Beibo, which mainly produces and exports high-strength coated safety and energy-saving glass, has a net profit of approximately -7.07 million yuan in 2017, compared with a net profit of 0 in the same period last year.
6.1 billion, a decrease of 6810 every year.
590,000 yuan, a drop of 111.
Regarding the sharp decline in Tianjin Beibo’s performance, Beibo explained that it was mainly due to a decline in export orders.
The growth of real and fake performance is declassified. Listed companies seek performance growth. Although “land sales and stock options” can achieve performance counterattacks and the results are immediate, the effects are often difficult to maintain without the “endogenous growth momentum”.
Behind the magnificent “turn around”, the new or acquired subsidiaries of North Glass have continued to have a “surpassed expectations” trend, and profit still needs time.
Some factors such as whether the growth of some listed companies ‘growth can be sustained, the growth of real and fake results, and the“ investment ”in value have led to unpredictable market risks and whether the market is buying. In fact, the market performance has already informed the answer.
”Huaxia Times” reporter’s statistical analysis of relevant data found that the current quarterly performance of listed companies’ annual reports shows a sensitive period. On April 27, a total of 28 listed companies in the Shanghai and Shenzhen stock markets continued to fall, including the 2017 annual report or the 2018 annual report.A total of 13 quarterly results fell, accounting for more than 50%.
Good or bad performance is a very important factor for the current market. Listed companies with good performance and growth will obviously be highly favored by the market, and some listed company stocks that refuse to pay dividends are also prone to “downs”.
Recently, Gree Electric, a listed company, is a typical representative, and it has repeatedly encountered investors’ collective votes.
According to incomplete statistics, the “GEM Index”, represented by growth-listed companies, started from 1571 on February 7, 2018.
The low of 47 points surged to 1826 on May 3, 2018.
Around 79 points, it soared by nearly 260 points. Under the same time period, the Shanghai stock index represented by the blue-chip heavyweights in the broader market rose from a maximum of 3425.54 points fell to 3100.
86 points, plunged nearly 325 points.
Regarding the above-mentioned problems, economist Song Qinghui told the China Times reporter that the reason for this phenomenon is to show that cash dividends, as an important cornerstone of value investment, have become popular.
Although some listed companies pay dividends every year and perform well, they are prone to dividends. Naturally, small shareholders cannot share the “joy” of the performance growth of their superiors.
Under the circumstances that the regulatory authorities encourage listed companies to pay cash dividends, the short-term non-dividend recovery of listed companies will reduce investor enthusiasm, while the long-term non-dividend restructuring will be gradually changed by investors, gradually replacing the company’s brand image.
Liu Xintong, a professor of economics at the Business School of Henan Normal University, told the China Times reporter: “Continuously changing influencing factors, some listed companies themselves are affected by short-term information, and capital rotation has exacerbated market panic, leading to volatility.
“North Glass” increased its revenue in 2017 without increasing profits, and its net profit will fluctuate sharply in the near future. However, the first quarterly report of 2018 has skyrocketed, and even the company has a semi-annual report which is extremely “optimistic”.
At the time of the final press release, Beibo Co., Ltd. started on May 4th.
The closing price of 49 yuan, the highest 10 on June 12, 2015 combined with the company.
The 36 yuan / share ratio has shrunk by more than 60%.
Chang Haiming, secretary of the board of directors of Beibo Co., Ltd., responded to an interview with the China Times Times reporter that in order to improve the progress of the automation industry, the company adopted measures to replace the company’s general manager, improve equipment sizing, and increase core R & D staff in early 2018.
Chang Haiming said that in 2016, Guangdong Beibo’s net profit in 2017 was negative, and the predicted net profit in 2018 may also be negative. Taking fully into account the profit situation of the project for the next five years, the company needs to make provision for impairment.
Regarding the sharp decline in Tianjin Beibo’s performance, Chang Haiming explained that in the end, export orders for apples fell. In the first quarter of 2018, the proportion of domestic orders and non-Apple export orders such as the United States, Europe, and Asia was steadily increasing.
The actual capacity utilization rate in 2017 was about 30%, and the production capacity from January to April 2018 increased by about 44% compared with the same period of the previous year. It is expected that the capacity utilization rate in this year will increase from the previous year.