Hua Instrument Electric wind farm investment play gimmick

On the one hand, Huayi Electric (600290) dozen "Resources for market" banner frequently investment wind farm; On the other hand, it is in the wind power investment is good at the same time, large shareholders to carry out large-scale reduction, and the company also decided to change the wind farm to others. In the recent two-tier market, investors voted with their feet, and share prices tumbled.　　Is the wind farm investment in huayi electrical appliances just a gimmick? May 7, Huayi Electric and its wholly-owned subsidiary, Zhejiang Huayi Wind Energy Development Co., Ltd. and China Huadian Group New Energy Development Co., Ltd. signed an agreement, each will hold the Inner Mongolia San Sheng Wind Power Co., Ltd. 85.5%, 4.5% of the equity transfer to the latter, the transfer price of 16.2 million yuan. After the transfer, Huayi Electric and Huayi wind power still hold three wins wind 9.5%, 0.5% of the equity, three wins wind power will not belong to the Chinese instrument of electrical consolidation within the scope of the enterprise. In China, the director of electrical engineering, this is the company "Resources for Market" wind power business strategy successfully implemented a good start.　　However, the market does not look so, on the May 11 of the disclosure of the transaction, the Chinese instrument electric shares to the decline of the report, the subsequent trading day after the stock price continued to decline. Some investors believe that the market chose to vote with their feet because the equity trading showed that the Chinese instrument electric and the power of the same as the goldwind to carry out a real wind farm investment, the Chinese instrument electric power described before the wind farm investment prospects are misleading investors suspected. For example, April 2009 Huadian Electric in the description of three wins wind farm investment prospects, forecast the wind farm investment scale, installed capacity and the prospect of internet power generation, and said "the implementation of the project, is conducive to the company's MW-class wind turbine industrialization process to enhance the company's wind power business comprehensive competitiveness, At the same time has good economic and social benefits, to protect the environment, energy conservation, promote the company's own development is of great significance. "The transfer of equity shows that the so-called investment wind farm is just a gimmick, its ultimate goal is to sell fan equipment, wind farm future investment prospects and the electrical basic of China."　　Because with the future increase in wind farm investment, Huayi Electric in the three wins wind farm will be further diluted equity. In fact, the results from the Goldwind Annual report show that the investment benefits of wind farms are indeed considerable.　　2009 Goldwind is responsible for wind power development and sales of Beijing Tian run New Energy Investment Co., Ltd. to achieve sales revenue of 106 million yuan, to achieve a net profit of 41.39 million yuan.　　Hua Instrument Electric Director of the recent report to our correspondent confessed, the company does not have the power to invest in wind farms, the company is currently building and is applying for the wind farm will be in the same way after obtaining government approval to transfer most of the equity to other investors in exchange for the company wind power products sales. In that case, what is the intention of the company to invest in wind power projects in China during July 2009? July 14, 2009, Hua Instrument Electric Bulletin said, wholly-owned subsidiary of Zhejiang Huayi Wind Energy Development Co., Ltd. and the Dongying government signed on July 10, "wind powerProject strategic cooperation Framework Agreement, in the Dongying government to provide sufficient wind resources, under the premise of Zhejiang Huayi three years to complete the total investment of 1 billion yuan in Dongying set up a fan equipment manufacturing base, the annual production capacity of more than 800MW, achieve the annual output value of more than 4 billion yuan. July 21, 2009 announcement, the company and the Inner Mongolia Xilin Zhenglanqi People's government signed on July 18, 2009, "Wind power projects and wind power equipment project Investment cooperation Agreement", By the company's exclusive or joint strategic investment Partners to invest about 10 billion yuan to develop ZHENGLANQI wind power projects and Zhenglanqi Baoshao wind power projects, the total installed capacity of the project is KW. According to the reporter understand, the current Huadian electric in the above 10 billion wind power investment projects and no formal investment occurred, there is no relevant progress information published.　　2009 Huadian Electric Annual sales income is also less than 1.2 billion yuan, the total assets are only about 1.8 billion yuan, net assets of only 772 million yuan. It is noteworthy that the reporter found in the Chinese instrument of electricity issued a series of "good" information at the same time, the large shareholder of Huayi Electrical Appliance Group in this period accumulated a large reduction of the company shares 12.1787 million shares, accounting for the company's total share capital of 4.44%. and public information shows that the last two sales of Huayi Electric group trading price is almost the highest price of the band.