Kwong Wui shares Truth broker lie cover Wang Yawei Retreat

From real estate turned to clean energy, the broad share (600256) is the first. And the transformation of the movement is quite rapid and decisive: the second half of last year into the transition critical period, has been stripped of plastic doors and windows and stone business, plans to withdraw all real estate business at the end　　For a time, the major institutions surrounded by the crown of "clean energy faucet" title.　　The confusion is that the new energy core project of the broad-share shares has been postponed several times, a year later than planned.　　It is also puzzling that the shares have plunged for a long time since the fourth quarter of last year hit a record high of 49.68 yuan in the city.　　Even more puzzling is the broad-share annual report, despite a 28% increase in net profit, but analysts collectively maintain tacit silence. "To tell you the truth, the company, many analysts do not understand, most of the view is relatively rough."　　"A South China analyst who has long been in deep track of its shares. Dongxing Securities an analyst confirmed the statement: "We have been more interested in the last October, we also gave the first report, but then never followed." There is no enthusiasm in the circle now. Such a big project, not overnight can be made. I can only say that I have a general interest. 　　"What exactly is the real broad share stake?"　　Analysts have been putting smoke in the cover of the Wang Yawei Retreat agency story from the second half of last year.　　In the second half of last year, the company accelerated its strategic transition from real estate to a full-scale transition into the clean energy sector. Brokers are competing to echo, the frequency of the research report, mainly concentrated in the last 9, October.　　Among them, Ping An securities Wu Ying launched the "Look forward to gorgeous turn of the energy giants", Hunan Wealth Securities launched the "Energy dream gradually opened the picture", GF Securities (000776) Xie launched the "energy company blueprint slowly unfold", dongxing Securities, Yang Wood launched the "Coal Resources transition Clean energy leader." "In fact, many analysts also went to research, but did not release the research report, only to the fund company."　　Said South China analysts. Coincidentally, in the third quarter of last year, three heavyweight figures in the market also weighed heavily on the shares. Among them, the most cattle fund manager Wang Yawei management of Huaxia Market fine holding 20 million shares, for the fourth-largest circulating stock shareholder; Xu Xiang, a private-equity boss, has 14.03 million shares for the fifth largest circulating stock shareholder at the helm of Ze-hee Ruijin 1th, holding 12.78 million shares in the Chinese Merchant Prosperity Fund, which was managed by Sun Jianbo　　It is the largest shareholder in the circulating stock.　　The fund 2010 year Four Seasons report, as of 2010 four quarter end, the Chinese merchant prosperous growth Gazang shares 14.47 million shares, while the Huaxia market select then reduce 2 million shares, at the same time, Wang Yawei Management's Huaxia strategy picks reduce 600,000 shares to become the biggest fund shareholder. December 13, 2010, the broad shares were pulled to the top of the history of 49.68 yuan, thus, three years since the 80.9%, Wang Yawei Smooth Retreat, according to this estimate, Wang Yawei This single profit up to 13.968 million. Over the next one months, the Kwong Wui unitShare price plummeted. "The broad share of shares in the period before that time rose better, mainly because the funds more optimistic, collective heavy warehouse." Recently, we are not very convenient to write the annual report reviews, because we are still inside the self.　　"said a prominent analyst in East China. "It's obvious that the stock is a fast-growing institution that aims to sprint the year-end performance rankings." We also have money in it.　　The analyst continues to disclose.　　The core project was postponed for one year, and analysts collectively misjudged the true story of the shares, however, does not seem as exciting as the agency paints. The annual report showed that the net profit of the company, which belonged to the parent firm in 2010, was 688 million, an increase of 28.09%. But the main source of profit is the company is about to peel off the real estate business. Real estate business accounted for operating profit ratio as high as 86%.　　The contribution of natural gas to operating profits is only 19.24%, and the new energy projects are less profitable, far from institutional expectations. It's also noteworthy that the LNG profit margin of the new energy core business of Guang Hui shares fell from 23% to 15.6%.　　Wang Peng, a securities analyst at CIC, said the decline was due to slower demand and a lack of cost advantage in the region and CNOOC competition. "The company 2010 Annual report or to the real estate profit-oriented, nothing good to comment on." Several new energy projects are doing really low expectations. Analysts who have long followed the broad share of shares are trying to hide the embarrassment.　　Previously, he was the most active entourage of the new energy project.　　Earlier, a number of brokerage analysts in the paper to make a strong effort to render the new energy LNG project has become its main source of profit. Yang Joomu, an analyst at Rudong Hing Securities, wrote: "The company's main business is real estate, but since 2004, LNG business accounted for the proportion of the company's business increased year by day, has become the company's most important source of profit."　　"Financial Weekly reporter check, this sentence first appeared in the Canton shares their own 2009 years of Non-public offering plans, since then, this argument by many analysts do not add to the original copy into the research report." In fact, the new energy core LNG business is not progressing smoothly.　　At present, there are 6 LNG projects, only Shanshan project production, but due to insufficient raw materials, the scale of only 300 million, the rest are in the construction.　　Analysts ' biggest miscalculation was the Naomaohu coal Chemical project in Hami, one of the largest LNG projects in the canton. "The main coal chemical project progress did not meet expectations, was expected to come out last September, now the annual report out said estimated to be four quarters this year."　　The East China analyst said. "This can't blame us. The project company initially said it could be put into production at the end of last year and when we went to the survey last September, we said we were going to push it to March or April this year, and now the annual report is coming up to the end of the year. Mainly is the time point is uncertain, the government approves the time point not to be sure.　　"An analyst who does not reveal his name is deeply puzzled. "There is a certain guarantee of performance, but lower than the original expectations of the agency." So we have a forecast of 1.5The performance of the block was later adjusted to 1.2 pieces. This is a signal.　　The East China analyst said. "Coal chemical projects do not come out, this will certainly affect our earnings forecasts for the company." The East China analyst said. According to the financial weekly reporter not complete statistics, at present, Anxin, CIC, Xiang-rich and other brokerages have been reduced to the broad share of earnings forecasts. Responsible Editor: NF058