Turn right?
production of green seedlings to the main business of green earth (stock code: 002200), the recent period the main effort will be transferred to the investors to show Green design and construction, the whole industrial chain management. However, we carefully research and analysis of the company's fundamentals and the recent happening, we found that this green earth, the transformation of the whole industrial chain management strategy, it faced a funding dried up, management is not in place, market low capacity and other great risk.
acquisitions: Do they floated a cloud?
Do panic! The main force is still diving? Stuck with the stock is likely to have saved! March the stock market changes are likely to occur? Tug of war behind the hidden financial trends!
2010 年 11 on 5, Green Nanchong City, the earth and the Bureau of Housing and Urban signed a
this news release, 9 day and 10 day share price from the 38.24 yuan Green Earth / share starting up, the cumulative increase of 15.44%, the highest price of 44.86 yuan / share; November 2010 11 Day, Green Earth's second-largest shareholder of the Chinese Academy of Sciences, Kunming Institute of Botany, reduction of 130 million shares, the sale price of 40.72 yuan / share, cash 52,936,000 yuan. After the stock began to green the earth all the way down, the minimum fell to 33.91 yuan / share, a decrease of 24.41%.
we often see some people and companies have no good faith use of words such as The purpose of the defendant. Further speaking, BT construction in accordance with national practice, the construction side is almost full Advancer for pre-construction, already bogged down by banks for debt financing of the green earth from which 500 million yuan of the huge amounts of money?
even if we believe the misdeeds of the green earth, and really live in Nanchong City Authority signed a formal construction contract, and the green earth can not guarantee full and timely funding of construction projects in place it? Moreover, ?
12 31, Green Earth once again released a big positive announcement: Green Earth will be about 10 million yuan RMB 6.7339 million yuan net profit for the acquisition of Ningbo Co., Ltd. Landscape Architecture Design and Research Institute 51% of the shares. Shanghai A shares at an average price-earnings ratio of nearly 30 times the capital market, the green earth, was able to purchase a PE of 2.74 times the upper reaches of the company's controlling stake! If this acquisition is successful, then we really look green to bless the land, they realized the Chinese capital market, a small miracle.
, however, and went back to the key financial issues, the green earth, the acquisition of money come from? Nanchong City to live with the Authority signed a convention to be in full accordance with BT Loaning of 500 million yuan construction project contract (the contract amount to be delivered to the 30% margin), went to where the financing of the acquisition of Ningbo Institute of Landscape Design Co., Ltd. holding more than 1,000 million so-called right to it? This net operating cash flow -2000 million of the green earth (the last three years are all negative net operating cash flow), is undoubtedly an impossible mission! Is He Xuekui also major shareholders to pledge her half of the amount to the cost of equity? Unfortunately, now the major shareholder of 28.63% stake in He Xuekui ban day (December 21) by public security organs for freezing. Can imagine, this funding strand breaks on pain of deep green earth, no doubt, is a bolt from the blue.
perhaps, in the acquisition of upstream company - Ningbo City Landscape Architecture Design and Research Institute of the positive encouragement announcement turns green again, like last month, the earth's stock of
crossroads:
from 2007 to the present, the green earth, selling expenses and administrative expenses only to a linear upward trend. According to statistics, cost of sales 10,090,000 yuan in 2007, 2008, 18.06 million yuan, in 2009 24.11 million yuan, 12.02 million yuan in the first half of 2010; management costs 9.85 million yuan in 2007, 2008, 11.34 million yuan, 19.55 million yuan in 2009 first half of 2010 12.96 million yuan.
Central University of Finance and expert analysis, green land sales and administrative costs artificially high, in fact only a surface phenomenon, a deeper problem is that this growth is a morbid growth. It reflects the company's weak management capacity of the state has not been changed, market operations, and weak implementation capacity, or in the green industry chain is not their right to speak, so cost has been high, embezzle listed companies profits.
recent years, the green earth's institutional shareholders have been continuing to sell shares they hold the green earth. 2009 年 February 20 to August 4, Treasure Land Enterprises Limited by the Shenzhen Stock Exchange auction block trading system and the Green Earth system total outstanding shares sold 7,554,493 shares, representing 5.00% of total share capital. As of August 11, 2009, Treasure Land Enterprises Limited has its green land of 5,027,500 shares held by Shenzhen Stock Exchange, shares of all the block trading system for sale.
2009 4 August to 11 September, shareholders of the Green Earth Song Yuan Beijing Investment Consulting Co., Ltd. Shenzhen Stock Exchange trading system through the Less accumulated 2,364,947 shares of listed shares, representing the company's total share capital of 1.565%.
2010 11 11, Green Land Kunming Institute of Botany, Chinese Academy of shareholders through the sale of the block trading system of Shenzhen Stock Exchange, shares of 1.3 million shares of the green earth, green earth, accounting for 0.86% of total share capital.
However, the blockbuster is that, on December 2, notice the green earth, Executive Vice President and Chief Financial Officer from Wang Yueguang into Li Peng, a large shareholder stake in the remaining month ban sensitive to the date the eve of the Chief Financial Officer suddenly replaced, it has been reborn as investors doubts. However, a more investors fear that the substitutions in the month after Chief Financial Officer lightning, which is the major shareholder equity in the day before the lifting of the ban, that is December 21, the major shareholder of 28.63% equity interest by the public security organs frozen! Ministry of Public Security, the Commission supervise the handling of the green earth! Green earth in the end what happened? Which implies what kind of bizarre logic is that? Why should the investors from the Department?
2010 1 6 January, Green Earth sent a letter to this reporter specifically asked: on your company's business situation and the status of the capital chain impact? Perhaps, the problem for the integrity of files in a stock exchange had a .
upstream of attempting to garden design, garden construction downstream extension of the whole industry chain management and its major shareholders He Xuekui green earth, the face of such a depletion of capital capacity, subject to management survey the situation, She and her green earth is standing at a critical crossroads.
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