Xin Net video before the transformation of the dismal report card: Net profit down more than 70%

January 20, with Yima Coal Industry Group Co., Ltd. is carrying out assets reorganization of Nanjing Xin Network Video Technology Co., Ltd. (hereinafter referred to Xin Network video, 600403.SH) in advance of the reorganization of the listed companies before the 2010 performance report. However, the early appearance of the annual report is not a surprise to investors, but a report card, but sooner or later to see "in-laws" "ugly daughter-in-law." According to the company's annual report, Xin Network video to achieve business income from the end of 2009 to 323 million yuan to report the final period of 243 million yuan, a year-on-year decline of 24.83% To achieve the net profit attributable to the shareholders of listed companies from the end of 2009 21.8996 million Yuan landslide to 2010 5.0889 million yuan, the year-on-year decline of up to 76.76%. But despite the sharp decline in corporate performance, a big increase in corporate executives has been. At the end of the reporting period, the total remuneration of directors, supervisors and senior managers surged from 2.9096 million in late 2009 to 3.7702 million yuan in 2010, up by 29.58%. Among them, the original chairman, general manager, Secretary of the board of directors Zhang Liang's annual salary from 2009 to increase significantly to 1.1437 million yuan in 2010, the increase of up to 52.17%, the original director, Deputy General manager Ma Yunshan's annual salary also rose from 599,700 yuan in 2009 to the end of the reporting period of 906,600 yuan, an increase of 50.08%. Non-recurrent gains and losses it is worth mentioning that the company's annual performance to achieve profitability depends entirely on the support of non-recurrent profit and loss. According to the company's annual report disclosed, Xin Network view of the annual non-recurrent profit and loss amount amounted to 17.951 million yuan. After deducting the non-recurrent profit and loss, the company's net profit for the whole year was 12.8622 million yuan, down by 164.65% compared with the same period in 2009. The company's original annual operating income plan has not been implemented as scheduled. Previously, in the company's 2009 Annual report, the company expected 2010 operating income of 260 million yuan, but in fact, 2010 business income of 242.901 million yuan, only 93.42% of the estimated number. Surprisingly, since the October 9, 2003 listing, the company's fund-raising has not been able to invest in the company's production operations. Up to now, 6.5 of the time to go on the market, 6 of the fund-raising projects have actually 5 slower than the planned progress, the other one to change the direction of investment. So far there are more than 100 million yuan to raise funds lying in the bank to sleep. The company said, because the fund-raising failed to be in place, research and development investment is insufficient, resulting in the company lost a lot of market opportunities. At present, the company in some projects has no obvious competitive advantage, to be in the market leading position, to achieve a higher return on investment difficult. In fact, from 2005 onwards, the company's performance growth has slowed markedly, from 2005 to 2009, the company's operating income compound growth rate of only 6%. 2009 and 2010, for two consecutive years by the Non-recurrent profit and loss to subsidize performance. For the company's big performanceDecline, Xin Network video blamed on two reasons, one is affected by the company's major assets reorganization, the reporting period of the company's business volume decreased; the other is the fierce competition in the market, the company in order to expand market share, increase market development efforts, increased market input costs. The main business is not helpless turned Haitong Securities analyst Han Zhenguo said, the company's main industry is weak, the level of profitability in general. Xin Network Video Although in the capital market has always been unable to use the capital market financing function development and expansion, so the majority shareholder opt-out is inevitable. In addition, the unclear property relation is also the problem that the network video and its large shareholder's investment must face and need to solve. According to the publication of the annual report of Xin Network, the actual control is the Shanghai Bell Trade union, which is contrary to the requirement of the actual controller disclosure in normative documents such as the information Disclosure standard of listed companies. December 6, 2010, the China Securities Regulatory Commission issued a reply, approved Xin Network video of major assets sold and issued to the Yima Coal Group shares to purchase related assets. Xin Network video will be 11.64 yuan/share price to the coal group directed additional 706 million shares to acquire the value of nearly 8.2 billion yuan of assets, thus turning coal stocks. The coal group is one of the 4 largest coal groups in Henan province, and the coal production ranks 20th in the country in 2009. 2007-2009 coal production was 18.8395 million tons, 21.8632 million tons and 22.6017 million tons respectively. Xin Network Video of the proposed purchase of assets under the coal mine production accounted for about 71% of the total production. However, there are still about 8 million tons of coal production capacity in the company is not in the acquisition, the group pledged in two years will urge listed companies to buy other coal assets in time, but the next step in the asset acquisition process is not clear. "The company issued shares to buy coal mining group, is the current conditions of possible and appropriate assets, not included are more or less flawed, or the conditions and the time is not ripe." "Han Zhenguo said. Up to now, the coal group in Henan Province merged and reorganized 79 coal mines. A total of 76 cooperation agreements signed. Luoyang 49, Sanmenxia 27. There are 3 coal mines that have not yet signed a cooperation agreement. and Xin Network Video report together with the company's new executive team. January 20, 2011, Tian Fujun elected as the company's fifth board chairman, Du Yimin as general manager of the company, employing Emily as the company's board secretary. With the company's executive team rotation, the mission of Xin Network Vision has been completed, the next round of the coal group to officially play.