Failed performance forecasts create international outlook

A prophecy. Create International (600097.　　SH) May 8, a provisional proposal for a general meeting showed that, because the company's main assets failed to meet the 2008 announced reorganization plan made by the 180 million-yuan performance pledge, large shareholder Shanghai Ocean Fishing Co., Ltd. (hereinafter referred to as Shanghai Ocean) will make up the difference profit of about 27.8964 million yuan.　　In fact, as early as May 2008, when the international (when called Holley Technology) announced its major asset restructuring programme, this reporter has written that the listed companies in the transformation of pelagic fishery fishing, the development prospects are not optimistic (see this newspaper May 20, 2008, "Hua Li Science and Technology for transformation, ocean fishing borrow shell or have a mishap").　　Performance landslide as the largest, but also the only engaged in ocean fishing business of listed companies, to create international has been included with Huatai, including a number of securities researchers strongly recommended, into the May, Huatai has been in the United States for 3 consecutive buy overweight report. But it is surprising that institutional investors do not seem enthusiastic about the creation of international offshore fishery leading stocks. Up to the first quarter of the data showed that the first ten international circulation shares of shareholders, only three institutional investors, holding a total of less than 6 million shares.　　This is quite bizarre in an institution-favored agricultural leading stock.　　Behind the neglect of institutions is the creation of internationally unsatisfactory performance.　　In the opening of the International November 6, 2008 of the "major asset replacement and issuance of shares purchase assets and related Transactions report," Shanghai Ocean has made clear that 2009 listed companies will be not less than the revenue and net profit of 1.087 billion yuan and 186 million yuan.　　But the embarrassment of Shanghai Ocean is that the forecasts have not come true. According to the International 2009 Annual report, the company only achieved revenue of 811 million yuan, the corresponding net profit is only 152 million yuan.　　The figures were down 21.4% and 15.97% per cent year-on-year, respectively.　　Tian Phase Investment industry analyst Ye Shi in the interview with our correspondent that the international 2009-year performance has been a major cause of the decline is the environmental factors have changed dramatically. According to Ye Shi, "during the second half of 2009, the entire south-east Pacific due to the impact of the El Niño phenomenon, resulting in high water temperature, bamboo pod fish stocks of migratory laws than in previous years, the company only completed the last year's catch 78%." Ye Shi told reporters, to create international main products for the Bamboo pod fish and tuna, bamboo pod fish contribute more to the profit, "so the production of bamboo pod fish to the performance of the impact is relatively large."　　"What worries the market more is that the international performance slump seems to be continuing." Create international and annual report issued at the same time 2010 quarterly bulletin shows that when the company to achieve revenue of 53.5236 million yuan, the corresponding net profit of-811,300 yuan, for the current performance losses listed companies do not give an explanation.　　This reporter calls to create an international aspect, but the telephone has been unanswered. Ye ShiTell our correspondent, to create the international first-quarter losses have a certain seasonal factors, "bamboo pod fish will not start fishing until April each year, so the first quarter mainly reflects the operation of tuna."　　"The evidence is that the same losses were created in the first quarter of 2009, when the company explained that" the sale of tuna was affected by the financial crisis, the price was lower than the same period last year, and the company's operating costs increased.　　Although the price of tuna has rebounded since May, it is no doubt worrying that the future of a fixed-priced pod business can be propped up independently in the event of a volatile market. The prospect of an international share price clearly does not match its performance compared with the market's traditionally buoyant small-cap stocks.　　In the view of some professional investors, only 203 million of the total share of shares of small stocks to create international share price performance is rather bizarre. Even at the start of the restructuring, international stock prices climbed and hit new highs.　　But since November 23, 2009 reached the highest point of 21.20 yuan, the creation of the international level two market trend will be plunged into a long-term downturn.　　Relative to the previous highest point, according to the May 12, 2010 closing price of 15.79 yuan, six months to create an international decline has more than 25%, and such a decline in fact most completed in the April 19 before the collapse of the market. "The company's circulation only 115 million shares, but also the industry leader, although the performance of a certain degree of decline, but the results can also be, the stock price so depressed indeed more strange."　　"The general manager of a private investment company in Shanghai told reporters frankly.　　In fact, behind the long slump in stock prices, the long-term development of the company's concerns are considered to be a two-tier market weakness, and the underlying reasons for the weak institutions. "Although fishery resources belong to renewable resources, the exploitation of pelagic fishery resources is also at risk of depletion due to the uncontrolled development of large-scale fishing activities in various countries."　　"The head of the investment banking Department of a Shanghai brokerage has expressed his concern to this reporter as early as the start of an international reorganization."　　As one of the major sources of international profit, the Bamboo pod fish has already shown such a trend.　　Data from Chile, the main producer of bamboo pods, showed that in 2007 Chile had 1.2 million tonnes of fish in bamboo pods and only 900,000 tonnes in 2008, down 35% per cent year-on-year.　　Another major source of bamboo pod fish in Peru, there is also a sharp decline in bamboo pod fish production, the Peruvian Institute of Oceanography (IMARPE) data show that in 2007 Peru's bamboo pod fish ashore 151,970 tons, compared to 2006 the same period of 233,566 tons down 34.93%. Large-scale fishing has not stopped expanding compared with dwindling production.　　The above data show that in 2004-2008, only 200 nautical miles of Chilean sea-fishing vessels in the outside of the vessel to fish from 6 to 40, fishing from 35,000 tons increased to 500,000 tons. "A large number of foreign vessels are entering not only to make the bamboo pod fishThe dwindling sources of these foreign fishing vessels have also been resisted by local fishermen and governments, which are undoubtedly one of the international problems.　　"said a brokerage analyst who declined to be named.　　According to its description, the Peruvian government has in the first quarter of 2008 years to implement quotas for fish fishing vessels, and the Chilean National Fisheries Association has even asked the government to prohibit foreign fishing vessels to dock and use of Chilean ports, and to stop the supply of foreign fishing vessels.　　Under intense conflict, major fishing countries have established the South Pacific Regional Fisheries Management Organization (SPRFMO) in the main producer of bamboo pods-the area off the coast of Chile-to administer fishing licences on the coast of Chile and manage fishing operations in the region by controlling the number of fishing vessels. "This is a certain good for the creation of international, because the equivalent of the industry has formed a certain threshold, but also reflects that the creation of international fishing will be limited, if not find new growth, the company's future growth will be more sluggish."　　said the analyst. May 12, this reporter on the above content to create international verification, but as of press, its Dong secret office phone has been no answer.