The star of the scenic mountains and Rivers Lin Hui three years has built two shell company

Each reporter Zhang Dongqing in recent years through Ping an securities sponsor listed the number of companies, however, the scandal continues, even more surprising is that two of the SME board listed only three years on the face of selling shell companies are all out of the hands of ping an securities. Of course, the surprise is much more than that.　　"Fencing" These two companies, and the scenic mountains and rivers unexpectedly from the same person's hand, he is the star of Ping an securities "Lin Hui". 4 Sponsorship Items 2 into "shell" company Interestingly, in the 5th project, the scenery of mountains and rivers suspected of fraud listed on the back of the listing, but he had hands-on 4 projects in the Days Run development (now referred to as St days run, 002113, closing price of 8.72 yuan), German cotton shares (now referred to as *st de cotton,　　002072, the closing price of 8.19 Yuan) and other 2 companies in the listing after a short period of 3 years into the "shell" company, facing the risk of delisting or shell-selling reorganization.　　And according to the development of new shares, Lin Hui, another important identity is the ping An securities investment banking division deputy general manager.　　Ping An securities spokesperson Jiangling confirmed that the "fencing" scenic mountains and rivers of the sponsor representative Lin Hui is ping An securities "investment banking division in charge of Beijing."　　Whether it was the "VP of Investment Banking Division", which was previously disclosed by the roadshow, or the head of the Beijing Division of Investment Banking, which was confirmed by the company, such "achievements" by such "seasoned" investment bankers had to be thought-provoking. Data show that Lin Hui: male, 37 years old, Ping an investment banking division, Beijing Regional headquarters, general manager, with more than 10 years experience in investment banking, has done 2006 years de Cotton shares, Luyang shares (002088, closing price 18.22 Yuan), 2007 Days Run development, 2010 Great North Agriculture (　　002385, closing price of 44.08 yuan) and the scenic mountains and rivers IPO items. German cotton shares face a moratorium on listing as the 72nd listed company, October 18, 2006, German cotton shares listed in the prospectus, the company's main business income in the first half of 2006 years, 2005, 2004 and 2003, respectively, reached 454.5892 million yuan, 910.6801 million yuan,　　804.0662 million Yuan, 1,145,074,900 yuan, in the first half of 2006, 2005, 2004 and 2003 total profits were 18.2605 million yuan, 35.35 million yuan, 31.9138 million yuan and 31.4535 million yuan respectively. However, after the company's listing, performance growth continued to decline or even increased losses. 2006 Annual report of the main business income of 940585611.45 yuan, an increase of 3.28% per cent, the total profit of 37617655.50 yuan, increased by 6.41%, to 2007.5 Annual report of total profit on the decline of 8.5%, 2008 Annual Report of the total profit loss of 53.2019 million yuan, a rapid decline in earnings per share to-0.302 yuan, 2009-year loss to expand to 0.666 yuan/share, the first three quarters of this year still losses as high as 0.129 yuan/share, is expected to lose 25 million ~3500 million this year. It is noteworthy that the *st cotton listed at the beginning of the 200 million yuan has been consumed by the end of 2008, but the two major investment projects have not been as described in the prospectus, the total amount of profits can be created after the production of 42.5 million yuan a year.　　In fact, when the project was reached at the end of 2008, it not only failed to make a profit but also lost 1.6277 million yuan; another project to buy the parent company's assets only achieved the goal of avoiding associated transactions.　　Although in September last year to 8.05 yuan/share to love home holding 328 million shares to achieve the reorganization of the shell, but after two consecutive years of losses, the company is facing a three-year listing on the embarrassment of the market.　　Due to the false statement of the 2007 interim report and annual report, *st Cotton has also been warned by the SFC, and was fined 300,000 yuan, the company's director Deng and Supervisor Zhao Quan was also warned.　　Days run development substantial losses and forced to sell shell compared to German cotton shares, Lin Hui development of the "fencing" more difficult to give a reasonable explanation.　　Compared to the annual profit forecast of the prospectus, the net profit is up to 18.96 million yuan, and the development of 200,000 tons of the urine base compound fertilizer project was completed in March 2008, the net profit of the year was only 925700 Yuan, and the 2009 net profit was reduced to 130,000 yuan. Another plan to invest nearly 200 million yuan, is expected to reach the total postpartum average annual profit of 47.69 million yuan of thermoelectric projects, as the Yueyang government of urban construction has been planned, the project and the new planning conflict, the government called for a moratorium on implementation.　　As of the end of the project in June 2009, the thermoelectric project has accumulated 39.6461 million yuan loss, of which the cost of raising capital is 20.74 million yuan, the company's own capital loss of 18.9061 million yuan.　　However, it is such a gross profit margin "in the same industry leading level" of the company, but also suffered a listing three years of substantial losses and forced to sell shell embarrassing situation.　　Insiders revealed that the problem behind the reflection of the development of the public IPO projects, the feasibility of the industrial complex fertilizer capacity saturation, the company's lack of competitiveness and so on.　　According to the report of the 21st Century Economic Report of June 10 this year, the days run development veteran Jicquan revealed that, in fact, the development of the days run is not in line with the IPO conditions, days run development in the listing through the establishment of the shell company-Yueyang Tiancheng Industrial group to undertake losses and liabilities, gloss, sprint listing Tian run development since the IPO was questioned its chemical plant in production, now this question has become a reality, June 1 this year, the days run Development Bulletin said the production line has been discontinued for two months and will continue to suspend production indefinitely. July 1 and September 2, the company's two announcements are said to continue production. The first half of this year, the development of the days run a substantial loss of 47.19 million yuan, and then October 20, the company announced that due to the production and operation of serious impact and within three months can notRecovery, the company was implemented in other special treatment, the securities referred to as the change of St days run. May 31 this year, the Yueyang Finance Bureau on the public transfer of its possession of the day run development 21.45% of the equity, after the transfer, the transferee will become the largest shareholder of the development of the day run.　　August 27, 2010, Guangdong Heng-run Hua Chong industry to determine the stock, is currently handling the equity transfer procedures. Although the sponsors ping ' an securities due diligence verification, for the sponsorship company listed vowed to come to a cogeneration project site does not exist obstacles, but the development of the days of the investment project can not achieve profit expectations, another "no obstacles" of the project was forced to terminate, the results of successive years of decline led to substantial losses　　The due diligence findings of Ping An securities have been put to the conclusion. For the above two companies, ping an securities related to the media, said that the two projects are not really listed under the sponsorship mechanism of enterprises, German cotton shares and the development of the days as state-owned enterprises, shouldering the burden of the nation's livelihood, in the 2006 is still the focus of capital markets to support the object,　　Can not use the present sponsor system angle of view to examine these two projects. Ping An security sponsor project will appear next *st de Cotton, st days run? Time is the best Test reagent.