New China Foundation secret Investment New project has the mystery huge loss 1566% institutions rush to enter

2010 Capital market ups and downs, the new Middle base (000972.SZ) performance plummeted, the main business of tomato plant production, processing and trade-oriented company three quarterly show, the company's net profit of 1566.82%. Such poor performance is not to provoke the market pessimistic mood, but there is no small windfall. A few days ago, private-equity people to the "Huaxia Times" reporter revealed that the new middle base is currently favored by many institutions, not only because the company in the two-tier market through the reduction of North New bridge is expected to turn around, but more importantly, the company to the benefit of the sea and the transfer of equity and the EU's policy changes in agriculture, the 2011 new Middle base is expected from the "worst" change　　Best. " Reduction is the mystery of the project by the international market supply and demand relations, the new middle base in 2010, the price of products sold all the way down, the company's net profit has plummeted, from a quarterly year-on-year decline of 211.81%, to six months year-on-year decline of 761.31%, and then to the third quarterly report of a huge deficit 1566.82% The new middle-base finally selected the listed companies "Ten net profit growth of the lowest" enterprises.　　However, although the new base in the main business has failed to make a contribution, but in the last time in 2010, through two reduction of North Road Xinqiao shares, is expected to turn a profit. As the second largest shareholder of the North New Road and Bridge, the New China Foundation held a total of 28.116 million shares earlier. After the lifting of the new bridge last November 11, the new middle base first sold 9.4725 million shares on November 19, the average price was 20.95 yuan, and then on December 3 sold 9.4725 million shares, the average price is 21.64 yuan.　　Two times to reduce the total share capital of the North New Road and Bridge 10%, in this process, the new Chinese-based total set of 403 million yuan, access to investment income of about 300 million yuan. It is noteworthy that in the process of the new middle-base performance, many institutions have not abandoned, but continue to overweight.　　In the first quarter of last year, the company's top ten circulating shareholder list is still only a mixed fund company, with a shareholding of 15.8221 million shares, by the three quarter, the number of institutions has changed from one home to three, and the shareholding has surged to 43.9324 million shares, accounting for nearly 10% per cent of the shares in circulation and nearly 3 times times the growth.　　At the same time in the two-tier market, the new China base stock is also the way up, from July 2 last year the lowest 8.28 yuan, to January 5 the highest 16.16 yuan, the performance of the huge losses, the company's share price unexpectedly doubled nearly one times. "Huaxia Times" reporter from the new middle-base to learn the exclusive, reduce the North new road and bridge in fact, not as the outside world imagined, just to make up for their own performance of the huge losses, but now the new middle base has drawn up a new investment direction, which is in urgent need of financial support, but for the specific situation of new projects, the company chairman Liu said, Not yet disclosed. At the same time, Shenzhen well-known private equity Wang said that many institutions are very optimistic about the new 2011-year market, not only because of its two-tier sales in the North new bridge is expected to make a profit, more importantly, the company to the seaThe transfer of equity in Kerry and the changes in EU policy on agricultural subsidies. To hand over the domestic control bulletin shows that the New China Foundation has just passed the benefit Haijari capital 344 million yuan cash, shares the company holding the "Medium Base Tomato" subsidiary 30% Equity; Meanwhile, according to people familiar with the matter, Haijari plans to share a new middle-base another subsidiary, "Tianjin Zhong Chen" 30% Equity, "The problem is not big, There will be announcements soon.　　"It is reported that the new base in the benefit of the sea Kerry in the equity participation, will be two subsidiaries of the right to operate and management rights to the Yi Hai Jia." In this respect, most institutions are more optimistic about the participation of the benefits of the sea Kerry.　　Citic Securities, days care investment in the report has given an overweight rating, that Yi Hai Kerry's core brand Jinlong fish, in China-dominated global market has a natural sales network, the new base will greatly improve domestic and foreign market share. Wanguo analyst Wang Peng said that the new China base to replace the cash with the shares of the company more than the harm, the introduction of Kerry as a strategic investor not only strengthens the position of the industry, ease cash flow pressure, but also can greatly enhance the company's debt and equity credit rating.　　However, it is worth noting that the transfer of the shares include the company's most core and best quality assets, that is, the ketchup industry chain, if the funds and sales channels over-reliance on Kerry, the company's dominance may be lost. But unlike many analysts ' predictions, Liu, chairman of the New China Times, said in an interview, "We just surrendered the domestic scope of the right to operate, and the operation of foreign rights in our hands, I will personally to graft, so the serious loss of the channel situation is not going to happen."　　"It is understood that the new Sino-base sales have been mainly in foreign markets, in the past three years, foreign market sales accounted for the company's operating income ratio of 94.27%, 96.89% and 96.31%." Game European market pricing power according to the World Tomato Industry Association forecast, 2010 Global ketchup production of 36.94 million tons, a year-on-year reduction of 13%; among them, Chinese tomato paste production of 6.21 million tons, a year-on-year reduction of 30%.　　Meanwhile, Europe's 30% quota subsidy for tomato cultivation has expired, and global ketchup prices are starting to rebound. "We didn't sell the new sauce for 2010 years. "According to our psychological bottom line, 2010 would have been between 900-1000 dollars/tons, but this price has not been so high before the end of last year, so we have not been rushed to sell." "Data show that before 2007, the EU's subsidy policy for tomatoes was 35%, government subsidies 65%, when China's export of tomato paste price has been maintained between 450-500 dollars/ton.　　2007 years later, the European Union lowered its 65% share of government subsidy to 30%, while the price of ketchup jumped to 900-1000 dollars/ton. "I think the EU is now canceling the final subsidy," Liu said.The price of ketchup in China should be between 1300-1400 dollars/ton, but now the question is whether ordinary consumers can accept such a price, that is, a game process. But in any case, this year, the price of ketchup rose to 1150-1200 dollars/ton is not a problem, the specific price is still not sure, to see the EU in 4 May, the decline in tomato production can be determined.　　"Q&a q= Huaxia Finance a= The new middle-base chairman Liu Q:2010 the first three quarters of the year, the reason for the sharp decline in the performance of the base?"　　A: Ketchup last year, the world's largest recycling, in fact, the price of ketchup has come up, but last year has been digesting the early inventory, so the price up the speed is relatively slow, the price must be a process, so we have not how to sell.　　Q: The New Sino-Haijari to join their core subsidiaries, and the right to surrender is out of what kind of consideration? A: Mainly we want to transform from raw material supplier to consumer goods supplier, that is to say, the future direction of the new middle-base is based on the final product, and this is what Yi Hai Jia has, their extensive sales network, handing over the right to operate and management will be more convenient and fast, the cost will be less.　　Our forte is production, from my point of view, Yi Hai Jia to establish a domestic channel for me to have nothing to lose, can only say is more to pick up.　　Q: You said that the company is in the tomato paste sale price game, how do you look at the European market for 2011 years? A: The EU produces tomatoes every year between 6 million and 7 million tonnes, of which nearly 2 million tonnes are peeled tomatoes and diced tomatoes, a part of which China cannot produce, and China, as the world's leading producer of tomato processing, I think China has a relatively normal number of 3.5 million tonnes to 4 million tonnes,　　It should be said that in addition to high-end and baby outside the daily necessities, will be divided by the Chinese market. Performance forecast as of 2010-12-20, a total of 5 institutions have forecast the 2010 performance of the New China base, with an average forecast net profit of $67 million, and an average of $0.1397 per share (up to 0.3284 yuan and a minimum of 0.05 yuan). According to this forecast, 2010 net profit year-on-year growth of 239.16%