The related transaction of petroleum Chai-Chai is suspicious of the same assets two data

Source: Internet
Author: User
Keywords Related transactions true and false attractive two
September 11, the "public Securities newspaper" reported the "Oil and firewood low-cost transfer of the most profitable assets," the article questioned the oil Chai (000617) to the lower market prices to transfer the company's best quality assets, has aroused strong market concern. At the same time, the reporter also found that the company for the assets to be transferred, but gave two distinct financial data reports: Before the transfer of the plan, the transfer of assets to create investment income accounted for the company's 09 net profit of 90%; and the company's latest asset transfer report shows that  The proportion of the investment income of the transferred assets to the company's 09 net profit was lowered from 90% "quietly" to 49%. The related transaction price is low all the reason comes from the related transaction which the petroleum Ji Chai recently planned.  September 10, the company announced that the transfer of the company's two shareholding companies: Baoji Steel Pipe 21% of the equity and Xianyang Gem 28.67% Equity, respectively, transferred to Baoji Petroleum steel Pipe Plant and Baoji Petroleum Machinery Co., Ltd.  Concern is the transfer of the relationship between the two parties: PetroChina (10.25,0.00,0.00%) group is the asset acquisition of the Po-tube factory, gem Machinery, the controlling shareholder, at the same time, CNPC is the oil and firewood holding shareholder of the Chai plant, the controlling shareholder, the actual control of oil chai. The price of the transfer, the premium level is not high. The assessment data show that Baoji steel Pipe company held 21% stake in the evaluation of 347 million yuan, compared to the book value of 20.46%, however, the company has been dividends in July as the reason, the value added to the low transfer price, from 347 million yuan to reduce to 250 million yuan, a full reduction of 97 million yuan.  And another transfer of assets, Xianyang Gem 28.67% stake in the evaluation value of only 4.7863 million yuan, value-added rate of only 1.61%. The transfer was two gold dolls. "The value of a few billion assets is so low that the value-added rate is lower than the bank's interest, not to mention an asset that can contribute tens of millions of of the company's profits every year."  Mr. Zhou, an investor in Nanjing, called the Volkswagen Securities daily to express his dissatisfaction.  Reporters look at the company's achievements over the years found that the company's plan to sell assets is the company's performance contribution to the absolute main. 2007, the company realized operating income of 1.018 billion yuan, the total profit of 116 million yuan, and the company held Baoji Steel pipe and Xianyang gem Equity income of 64.54 million yuan, accounting for the company's net profit of 65.83%; 2008, the company realized investment income of 62.54 million yuan, Most of them are also from two participating companies, this year, Xianyang Gem realized net profit of 30.95 million yuan,  Baoji Steel pipe to achieve a net profit of 250 million yuan; by 2009 years, the two companies are still the main chips to support the performance of the oil, the total of the listed companies to achieve 47.25 million yuan investment income, accounting for the company's 09 net profit of 89.57%.  Two of the data is true and false even more puzzled by the reporter is that the company plans to transfer the Baoji steel pipe and Xianyang gemstone Related financial data have a very big difference. This September 10 days, the company issued the "Major asset sales Report" shows that in the last three years, the company achieved net profit of 97.75 million yuan, 104.26 million yuan, 52.75 million yuan, of which the investment income from the proposed sale of assets are 64.54 million yuan, 77.71 million yuan, 25.57 million yuan respectively.  According to the above data, the reporter estimates that from 07 to 09, the two companies to the listed companies contribute to the net profit of 66%, 74.5% and 48.5%.  It is noteworthy that the above-mentioned report mentions that the performance contribution of the proposed transfer of assets in the 2009 year is 48.5%, but the contradiction is also based on the fact that the data issued by the transfer report is far from the company's 09 annual report. Company 09 Annual report shows that the company's shares of Xianyang Gem in the year for the company to obtain investment income of 8.2 million yuan, accounting for the company's net profit of 15.55%; the company shares in Baoji Steel pipe for the company to obtain investment income of 39.04 million yuan, accounting for the company's 09 net profit of 74.02%.  In 2009, the total investment income of petroleum chai from the participating companies was 47.25 million yuan, which accounted for 89.57% of the company's net profit in 09. A report showed that investment income accounted for 48.5% of net profit in 09, a 89.57%. What is true or false? In this respect, the reporter repeatedly contacted the listed companies to seek explanations, but the company's secret office phone has been no answer. The Volkswagen Securities daily will continue to follow the report on the transfer of major assets to the oil and firewood industry.
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