High-hung shares performance declines 15% Liu led reduction show

As many market participants have speculated, after the lifting of the ban on December 23, the Liu, with 8.7 million shares, chose to retreat. And in 2010 years with the "Corporate shares King" Action, there are High-hung shares (000851, closing price of 12.24 Yuan), the holding shareholder of the Telecommunications Science and Technology Research Institute.　　In the face of the reduction show, which was staged late last year, the 2010 slump has also seemed to make everything reasonable. At the end of the year show December 23, 2010, for High-hung shares is a special day, because on that day the company 64.4 million shares of restricted shares can be listed in circulation.　　According to the announcement of the time, known as the "corporate shares of the king," the Liu to 8.7 million shares of the shares, and in accordance with the original 6.70 yuan/shares of the additional price calculation, at that time still more than 12 yuan in the stock price enough to make the big guy earn pots full of pot. However, it should be noted that in the above-mentioned 64.4 million shares before the reduction, High-hung shares have begun to plunge early, from the end of November, the 16 yuan slipped all the way to the lifting of less than 14 yuan, the day of the lifting and the subsequent two trading days, the share price of the interval decline is reached an alarming 19.4%.　　In the face of the sudden amplification of turnover, many in the industry speculated that Liu may have chosen to end the profit, now it seems that this speculation is entirely correct. The annual report of the High-hung shares revealed that, as of December 31, 2010, the top ten circulating shareholders did not appear Liu's name, and the day was only 6 trading days away from the lifting date.　　It needs to be pointed out that the minimum threshold for the top ten circulating shareholders considering High-hung shares is only 633,700 shares, that is to say, in the above 7 trading days, the amount of Liu reduction is at least 8 million shares. In fact, before the lifting of the ban, the company's shareholder's reduction action has begun. The bulletin shows that the Institute of Telecommunications Science and technology from November 9, 2010 to November 12, 2010 through the Shenzhen Stock Exchange centralized bidding method to reduce the company shares 1.7502 million shares.　　In the period from September 28, 2010 to October 26, the company also reduced its share of 3.3226 million shares by another shareholder state's speculative Light Co. The decline in performance is clearly why High-hung shares will face such a strong reduction, I believe this has become a lot of investors in the heart of the doubt, and the company today's disclosure of performance data may be able to explain some problems.　　Annual report disclosed that the company realized operating income of 2.531 billion yuan in 2010, an increase of 34.23%, net profit of 14.1545 million yuan, a year-on-year decline of 14.99%; earnings per share 0.04 yuan/share, did not propose allocation plan. It should be noted that, in 2010, the company received the government subsidies and other non-recurrent profit and loss amount of more than 20 million yuan, if this data is excluded, High-hung shares actually loss of 6.649 million yuan. For the sharp decline in performance, the company in the annual report of the company's products are relatively single, new products openThe maintenance of the old product will consume a lot of resources, the real store rigid cost and the Internet value-added service cost rising rapidly and other negative factors, and put forward the corresponding countermeasures.　　However, the frequent changes in the company's executive level since 2011 have added a bit of gloom to the new year. February 18, High-hung shares announced that Zhou Licheng for reasons of work to resign his position as vice chairman and director of the company, Wang Yi also because of the reasons for the internal adjustment of the work unit to resign his position as a company supervisor. In the following February 22, High-hung shares again issued a notice that the company's deputy general manager Rongchao for personal reasons to resign his position as deputy general manager of the company.