Hainan Rubber starting P/E ratio up to 87 times times raise capital 4.7 billion

The author Wang You Hainan Natural Rubber Industry Group Co., Ltd. (600118.SH) December 28 officially launched the purchase, is scheduled to land a shares next January. The company is expected to issue 786 million shares, offering a price of 5.99 yuan per share, raising funds up to 4.7 billion yuan.　　The money will be used to boost production and repay bank loans. The stock's 87 times-fold price-earnings ratio is the creation of a new-P/E record in Shanghai.　　There is analysis that this is mainly related to the overall supply of gum, the price may be a long-term upward trend.　　However, for a growing natural rubber producer, the vagaries of the weather, the price of the rise and fall, is also difficult to circumvent the risk. "Hainan rubber production of the day gum belongs to the national standard of the day gum, the current price of 35000 yuan per ton above, this is already a record high." "Zhuo Chuang Information analyst Zhang Kang to the" First financial daily "reporter said.　　But even if the price is high, if the weather is bad such as strong wind and rain, difficult to produce plastic, the so-called high price is only a picture of "title" Just. Hainan Rubber Company admits that if it encounters a strong typhoon, the company's gum forest can be seriously affected.　　Vivid is 2005 years "Damrey" Typhoon: The company that year's dry gum production reduced by 55,000 tons, more than 110,000 acres of plastic garden all scrapped, total clean-up losses as high as 200 million yuan.　　A researcher of China Merchants Securities also pointed out that from 2007 to 2009, the company's total sales revenue is 3.763 billion yuan, 3.637 billion yuan and 3.743 billion yuan, sales income basically did not increase, the important reason is that the impact of the 2005-year Typhoon is still in the process of recovery. Another challenge for the enterprise is the ups and downs of the gum price.　　Shanghai Futures Exchange Day Gum Futures index reached more than 28000 yuan in mid-June 2008, after 6 months and next to 9000 yuan, continued to rebound to 20000 yuan in late 2009.　　2007, 2008, 2009 to 2010 January-September, Hainan Rubber Company, the average price of electronic transactions is 19,300 yuan per ton, 24,800 yuan per ton, 16200 yuan per ton and 25300 yuan per ton, a great rate of exchange. In order to reduce the impact of price fluctuation on the enterprise benefits, Hainan rubber in the use of futures hedging, "quantitative surrender" and "market settlement" combined with the long-term contract.