Fund chain emergency billion yangxin to sell the Hkust news fly out of the dilemma

Source: Internet
Author: User
Keywords News flight Hkust capital chain billion Yangxin Tong
Tags accounting company company management cost notice session
-Our correspondent Chen today billion Yangxin issued a notice that the company's chairman Chang authorized, the company management of a long-term equity investment, the sale of 594,000 shares of Hkust (002230,SZ). Sales profit of 10.02 million Yangxin Tong 2008 years, the company holds the Hkust flying 396,000 shares, accounting for the hkust flying 0.51%, the holding cost of 1.1394 million yuan.  As of December 31, 2008, billion Yangxin held by the hkust to the end of the final account value of up to 9.306 million yuan. Hkust in May this year implemented a profit distribution scheme, that is, 10 shares to increase 5 shares, at the same time sent 2.5 yuan.  As a result, the number of billion yangxin holding shares increased to 594,000 shares. The announcement shows that billion yangxin on June 15 all sold a holding of the hkust flying shares. On the same day, the Hkust news fly the highest price of 21.48 yuan/share, close to 21.26 yuan/share. After deducting costs, related taxes and income tax, billion yangxin access to profit of about 10.02 million yuan.  This part of the money will be used to replenish the company's liquidity. The sale originates from the capital pressure in fact, billion yangxin since 2009 capital pressure highlights. Its 2009 quarterly report showed a profit of 12.1199 million yuan in the first quarter, a sharp decline of 30.02% per cent, and only 0.03 cents a share, down 50% from a year earlier.  For the reasons for the sharp changes in net profits, billion yangxin to explain the restructuring of telecommunications operators have just been clear, and the company's main business related to the project has not been formally launched.  The first quarterly report also shows that billion yangxin short-term borrowings as high as 443 million yuan, and the balance of monetary funds only 111 million yuan. Since then, billion yangxin is continuing, large-scale borrowing.  As of April 30, the fourth session of the Board of Directors of the 19 meeting adopted the "on the Commercial Bank of China Harbin Branch to apply for RMB 55 million Yuan loan bill." May 8, the fourth session of the Board of directors at the same time passed two bills to borrow, one of which is to Huaxia Bank Shenyang North Station branch for acceptance of draft, par value of 60 million yuan.  In addition, to Harbin Bank of the East Lai branch for 40 million yuan loans, the period of 1 years, by the large shareholder billion Yang Group to provide security for the loan.  June 5, the fourth session of the Board of Directors of the 21st meeting again passed the bill, continue to ICBC Harbin branch of Industrial and Commercial Bank application for 30 million yuan loans, the period of 1 years, Harbin Tai Fu Industrial Co., Ltd. for its guarantee, bear joint and several guarantee responsibility. This means that billion yangxin in a short period of one months, to different banks to finance at least 185 million yuan.  Billion yangxin through the capital pressure can be seen in general. This time, the billion yangxin to sell the Hkust news fly stock, for its 10.02 million yuan of liquidity, may also just a drop in the bucket, difficult to solve its capital needs.
Related Article

Contact Us

The content source of this page is from Internet, which doesn't represent Alibaba Cloud's opinion; products and services mentioned on that page don't have any relationship with Alibaba Cloud. If the content of the page makes you feel confusing, please write us an email, we will handle the problem within 5 days after receiving your email.

If you find any instances of plagiarism from the community, please send an email to: info-contact@alibabacloud.com and provide relevant evidence. A staff member will contact you within 5 working days.

A Free Trial That Lets You Build Big!

Start building with 50+ products and up to 12 months usage for Elastic Compute Service

  • Sales Support

    1 on 1 presale consultation

  • After-Sales Support

    24/7 Technical Support 6 Free Tickets per Quarter Faster Response

  • Alibaba Cloud offers highly flexible support services tailored to meet your exact needs.