Huafang Textile New Energy battery in GAO large shareholder reduction organization recommend

Huafang Textile with new energy and shiny coat (600273.　　SH), in an instant to become public offering and private placement of the heavily. Huafang Textile 2010 Quarterly Bulletin shows that 2009 private equity champion new value heavily killed, a total of four products stationed in the top ten circulating shares of the stock shareholders.　　At the same time, Morgan Stanley Huaxin's two funds also accumulated 3.7153 million shares of Huayi Textile, both to kill into the top ten circulating stock shareholders. Previously, Huafang textile few organizations.　　The reporter learned that, on May 5, 2010 Huafang Textile Shareholders meeting, 5 funds have gone to research.　　But the story of Huafang's new energy battery is still a castle in the castles, and its current product can only be applied to power tools and electric bikes, and the market is skeptical about whether it can get substantial orders.　　And even in the field of electric bicycles, Huafang textile production of lithium iron phosphate battery price of about 1200 yuan, compared to the current mainstream electric bicycle lead-acid batteries, the cost is too high to effectively participate in the market competition. At the same time, it is the Huafang textile major shareholder, Hua Fang Group on April 22, through a large volume trading system to reduce the 15.7 million shares, set now 263 million yuan.　　The day, Hua Fang Textile set a record of 18.78 yuan.　　Institutional retreat, brokerage force push, large shareholder reduction, around Huafang textile new energy "Rashomon door", is still heavy fog, but the share price has been hanging.　　New value to take the lead to Huafang textile in the third quarter of the 2009-year weighted average price of 6.22 yuan and four quarter of the weighted average of 9.41 yuan, the new value of its products yield or more than 50%.　　And with the new value in the textile revealed in China, public offering fund also follow.　　New value of its products, to participate in the textile industry, began in 2009 three quarter. 2009 3 Quarterly display, the new value of two new period for the shares of the seventh largest circulating shareholders, holding 868,900 shares of Huayi Textile.　　At that time Huafang textile Top ten circulating stock shareholders, the new value is the only institution. After 2009 years of the Four Seasons, the new value of two period 1.3475 million shares, to 2.2163 million shares of the stock, ranked the fourth largest shareholder.　　At the same time, the new Value 4th collection Trust also to 1.4564 million shares of stock, new into the Huafang textile seventh largest shareholder.　　And it is in 2009 years, Huafang textile ushered in a round of quite spectacular market, the stock price from the end of September 5.45 yuan to the end of December 12.43 Yuan, the interval rose to 128%. In the first quarter of 2010, Huafang textile maintain concussion consolidation market, new value is further collect chips.　　The new value of 4th in the first quarter to increase the 1.7945 million shares to 3.2509 million shares, become the fourth largest Huafang textile stock shareholders.　　At the same time, the new value growth phase and the new value 8th, respectively, to 2.6964 million shares and 2.1005 million shares, to become Huafang textile five and the eighth largest circulating stock shareholders. In 2009 new value 2, 1, respectively, with more than 190% and 150% performance PackageAfter 2009 years of Sunshine Private performance return of the Crown, runner-up, its large positions also immediately attracted the market to China textile concern.　　Since the two quarter of 2010, Huafang Textile has ushered in another round of market, from the beginning of April 13.26 yuan to rise to the highest 18.78 yuan, even if the market to adjust, but since April, the shares have risen 10.33%, while the Shanghai Composite Index fell to 14.58%.　　Huafang Textile in the third quarter of the 2009-year weighted average of 6.22 yuan and four-quarter weighted average price of 9.41 yuan, the new value of its products yield or more than 50%.　　And with the new value in the textile revealed in China, public offering fund also follow.　　2010 Huafang Textile 1 Quarterly display, Morgan Stanley Huaxin leading optimization and Morgan Stanley Huaxin resources to become Huafang textile Nineth and tenth large circulation shareholders, accumulated 3.7153 million shares.　　The reporter learned that, on May 5 Huafang textile Shareholders meeting, at least 5 fund companies have gone to research. China-created securities spared no effort to "strongly recommend" May 6, the Chinese-created securities to the Hua Fang Textile rating to highly recommended. According to the research results of China Securities, Jiangsu Li-Tian lithium battery in the mainland, Taiwan have orders, some products exported to Europe and America; product quality is more than the national standard; products are mainly used in electric bicycles, high-power automotive power battery is already in the research and development stage. 2010 is expected to profit 15 million yuan.　　"But Huafang textile dong Han Yimin's progress on new energy batteries, said that the specific orders are unknown."　　Public private placement in the back of the influx, it is huafang textile new energy battery aura, but also securities research institutions to fuel the flames.　　Huafang Textile New energy battery business, mainly through its two companies in Jiangsu Power days New Energy Technology Co., Ltd. (hereinafter referred to as "Jiangsu Li Tian") and Zhangjiagang Huatian New Materials Co., Ltd. (hereinafter referred to as "Huatian Company").　　But two companies are short on the field of new energy batteries. Huafang Textile (600273.　　SH) announced on June 22, 2009 that the company invested 58 million yuan in cash and physical assets in Jiangsu Province, Jiangsu Province, the registered capital increased to 108 million, paid-in capital of 21.6 million yuan, and the company's shareholding 53.7% to become a controlling shareholder.　　Jiangsu force days just set up on June 8, 2009, mainly for lithium iron phosphate power battery development, production and sales.　　And then Huafang textile began to the lithium battery upstream-electrolyte. November 26, 2009, Huafang textile announcement, the company was let Jiangsu force days original shareholder 16.3% of the equity, 17.6 million yuan. At the same time, Jiangsu force days to invest 10 million yuan, investment set up an electrolyte company, that is, Hua Tian Company.　　[Page] January 14, 2010, Huafang textile announcement, Hua Tian Company registered capital increased to 50 million, and Jiangsu Li-day shareholding accounted for 70%. In this regard, Huafang textile completed its layout in the field of new energy batteries, whileThe recommendations of the brokerage research institutes also arrive as scheduled.　　March 15, 2010, Huajian Securities recommended Huafang Textile for the first time, combined with its textile business 20 times times P/E, the new energy battery business 60 times times P/E, to give Hua Fang textile 14 yuan target price.　　April 19, the East China Sea Securities also huafang textile ratings to increase to overweight, and to give the target price of 19.5 yuan.　　Since May 6, the Chinese-created securities to the Hua Fang Textile rating to highly recommended. and Huafang textile, only issued a notice that lithium iron phosphate electric bicycle power battery has been sent to the national quality testing agencies, and on March 17, said the test qualified.　　In addition, the company announced on February 1 that the recent and Tsinghua University nuclear Energy and New Energy Technology Research Institute signed the "Technology Services research and Development agreement." According to the research results of China Securities, Jiangsu Li-Tian Lithium battery design 7 production lines, is a production line has been fully produced, the domestic sales of 50,000 monomer, "mainland China, Taiwan have orders, some products exported to Europe and America; product quality is mainly used in electric bicycles, etc. The high-power automobile power battery is already in the research and development stage. 2010 is expected to profit 15 million yuan. "But Huafang textile director Han Yimin is cautious about the progress of new energy batteries, responding to reporters," electric bicycles are small power lithium iron phosphate power batteries, production lines have been produced, high-power is being tested. Specific orders are unknown, please pay attention to the company's announcements. "And in the field of electrolyte, China Innovation Securities claimed that its" design capacity of 5000 tons, the world's largest lithium iron phosphate electrolyte production line. Product line installed, the quality of the production line by the United States, Japan, Korea highly recognized, and cooperation may be. Mass production is expected in June and there are already orders. 2010 is expected to profit 15 million yuan. "But in an interview with a journalist, and did not tell reporters the specific source of orders, the person said," Huayi textile lithium batteries are divided into high-power batteries and small power batteries, high-power batteries are currently not mass production, and small power batteries mainly supply domestic electric vehicle manufacturers and foreign electronic machinery manufacturers. "In the case of market-worried orders," the company said in its May 6 study, "Jiangsu Power Day's products" completed its final round of tests at the end of April at Accor. Accor Company for the country's fifth largest electric bicycle manufacturers, 2009 sales of about 3 million. Huafang Textile Single production line annual production capacity of 100,000 vehicles. If the company strengthens sales strength, the market should overlap was not.　　"However, harting Technical department related people in an interview, said that the so-called" final round test "should not be in our company, at least our technical department is certainly not involved. "The current bottleneck of the electrolyte is the security assessment in the project approval process, because the electrolyte is the chemical industry, the safety assessment requirements are very high, specifically also please use the announcement as the subject."　　Han Yimin responded to this newspaper.　　What is the technical path of the vague? In its report, Huajian Securities said, "The Hua Fang TextileBattery electrolyte is the technical cooperation with South Central University. The battery control system is cooperated with the Aerospace University and Tsinghua University. "But the new energy battery field experts, South Central University metallurgical Science and Engineering school deputy Dean Li Neo Hai to reporters, according to its knowledge," Hua Fang Textile, Jiangsu Power days did not and central South University in technical research and development to obtain cooperation, Central University did not provide relevant enterprise technical support.　　"But one hidden concern is that the high cost of lithium-ion batteries is quite highbrow for the fiercely competitive electric bicycle sector." The company's technology department related people said, "20AH lithium batteries are generally more than 2000 yuan, and 10AH lithium also want more than 1000 yuan, the price is 3 times times more expensive than the traditional lead-acid battery." A molded 20AH lithium electric car needs about 4-5 thousand. The above people also said that the company's lithium batteries are mainly sourced from BYD and a manufacturer in the northeast, has not yet cooperated with Jiangsu days. "Lithium-ion battery cars are mainly exports, but exports account for a small amount of the company." "In the domestic market share of the larger electric vehicle battery manufacturers Super Granville Battery, its technical department personage said to the reporter, 2006 their company has started to study the lithium iron phosphate battery, cooperates with Tsinghua University 3 years, in 2008 starts the quantity production, in the lithium electricity aspect compared with the same industry day company early, but later than abroad. Lithium battery business is only a small part of the production process technology is not very mature on the other hand, the market has no competitive advantage.　　Even if the production of large capacity of the car lithium battery, can not be mass production, can only do the corresponding model battery.　　Tangyugen, director of the Institute of Chemical Power and materials at Zhongnan University, also expressed doubts about the profitability of Jiangsu's power days. "I don't know how good the battery is, but who does it sell?" Because the current electric car this piece, electric bicycles and electric motorcycles in cost-effective (lithium) can not be compared with lead-acid batteries, although the lead acid driving distance short, but it is cheap. So the market for lithium can only have some high-end users, but the high-end user market is always limited. "The people interviewed by the China Securities Department also said that the current domestic lithium battery electric bicycles are less than 5% of the total output and are mainly used for export." [Page] Han Yimin said that the new business after the difficult technical close, there is a market acceptance of the process, "to accept the market for our new products, including price, performance and other factors, so at this time can not determine the new business revenue and profit."　　On the other hand, although Huafang textile high-profile into the field of lithium batteries, but on its technical path, has been vague. In addition to the previous announcement of cooperation with Tsinghua University, the Chinese capital Securities in its report, said, "Hua Fang textile battery Electrolyte is the technical cooperation with the South Central south." The battery control system is cooperated with the Aerospace University and Tsinghua University. "But the new energy battery field expert, South Central University metallurgy Science and Engineering school deputy Dean Li Neo Hai said to reporters, as far as it knows," Hua Fang Textile, Jiangsu Power days did not and central South Central South China in technology research and development sideCooperation, South Central University did not provide relevant enterprise technical support. "In its report of April 14, the company said," April 2, 2010, Jiangsu Li-Tian New Energy Technology Co., Ltd. and Shanghai Jiaotong University on the development of power lithium batteries and new materials project, in the Hua Fang Jinling International Hotel officially signed. Li Jiaming, academician of CAs and professor of Shanghai Jiaotong University, participated in cooperation.　　"In this case, the reporter connected Li Jiaming telephone to talk about this matter, Li Jiaming not willing to be interviewed."　　However, the current dean of the Department of Physics at Shanghai Jiaotong University, teacher Ma and Chief Secretary Yeh, said they didn't know about it, MA also said that every year we are in the name of the physical department of the External Technical cooperation, which requires the Department of Registration, and the Department of Teachers in a personal name with the outside world do not need to inform the Department. The matter, the May 6 report of the company said, "Now high-power battery has begun a small trial, on the one hand, quality testing in Shanghai Jiaotong University, on the other hand, has been sent Dongfeng Power Company to carry out loading tests."　　"But for more imaginary space in the field of electric vehicles, brokerage research institutions in their report expectations are quite remote." "The company is intensively carrying out new energy vehicle research and development, and has a bigger role in car power batteries to create Chi groups," China Securities said in its report.　　"But the leap from electric bikes to electric cars is not so easy."　　Tangyugen to reporters that power batteries from small capacity to large capacity there are a lot of technical difficulties. "This is mainly in the production process, the large battery to maintain the same performance difficulties to improve, such as battery life, security." After the power battery is big, the use environment also changes correspondingly, the small battery generally indoors, the temperature is relatively stable, the big battery is generally outside, the temperature changes and the humidity change to the battery request also is different. "In its view, the current domestic" production of small batteries relatively more enterprises, large batteries are less, the market is still a breeding process. As an investor, the reporter inquired about the electric vehicle battery Technology Department of the Hong Kong-listed solar energy (0819HK), the technology department said that the company's lithium iron phosphate battery is mainly 10AH, also has a small number of 20AH, applied to electric bicycles, and the company's four rounds of sightseeing cars, police patrol cars or lead-acid , BYD currently has a large capacity of lithium iron phosphate batteries for automobiles.　　He also said that the lithium iron phosphate electric bicycle power battery through the national quality inspection is not difficult, and the key technical difficulties of lithium iron phosphate battery is the stability and consistency of the anode materials and batteries. And the first is security. "In the national standards, the battery in the electric vehicle application security can be the first."　　Tangyugen told reporters.　　Public offering fund to take a bus? May 6, Huafang textile trading to reproduce, and Anchao surging, is still institutional funds. On the same day two institutions bought 22.7 million yuan, while the selling list is not a body seat. "Do not rule out the new value has been a part of the public offering funds to come to the panel." and Huafang textile major shareholder Hua Fang Group's reduction also follows. "A privateRecruiters speculate.　　April 22, 2010, Huafang Group through a large trading platform, selling 15.7 million shares of Hua Fang Textile, accounted for the Huafang textile total share capital of 4.98%, after the reduction of Hua Fang Group still holds a 50.97% stake in Huafang textile.　　Even if there are all kinds of suspense, but the new value of the private equity fund, has obviously been in the textile industry in China, the market has been harvested quite a lot, and the public fund quite a bit later aware. "Because the process of investment and research decision-making is different, private placement in the situation is not clear, the courage to enter a bet, while the public offering is relatively cautious, need to gradually see the situation before they dare to make decisions."　　"A private-equity person in Shanghai told reporters. April 12, 2010, Huafang textile trading Billboard show, a body seat on the day to buy a large 57.65 million yuan, the top of the buy list.　　In the second place is also the organization seat, buys 18.84 million yuan.　　and the sale of the day, only one institution, the sale amount is only 4.35 million yuan.　　Under the impetus of institutional funds, the day of Hua Fang textile trading closed.　　April 23, institutional funding showed signs of rotation. Billboard show that day, three institutions accumulated to buy 70.89 million yuan, there are two organizations to choose to reduce, sell 61.27 million yuan.　　On that day, Hua Fang textile closed down with a deep fall of 7.65%. May 6, Huafang textile trading to reproduce, and Anchao surging, is still institutional funds.　　On the same day two institutions bought 22.7 million yuan, while the selling list is not a body seat. "Do not rule out the new value has been a part of the public offering funds to come to the panel." "The private equity figures speculate.　　[Page] and Huafang textile major shareholder Hua Fang Group's reduction is also the same.　　April 22, 2010, Huafang Group through a large trading platform, sold Huayi textile 15.7 million shares, accounted for the Huafang textile total share capital 4.98%, after the reduction of Hua Fang Group still holds the Huafang textile 50.97 of the equity. The above transaction is divided into 9 transactions, 16.8 yuan per share.　　Buy the largest amount of transactions reached 72.24 million yuan, the buyer's business Department for Investment Securities Jinan Quancheng Road Sales department.　　The same day, Hua Fang textile rose 6.32%, the plate was once touched to 18.78 yuan, which is also the stock's record high.　　Huafang Group through the selection of accurate reduction, set now 263 million yuan. In this respect, Huafang group said that the reason for the reduction of China textile shares is "because of cotton supply tight, in order to seize the market opportunity to reserve the right price of cotton, resulting in temporary shortage of funds." "Hua Fang Group and said," in the next 12 months, the group will not completely exclude the possibility of further reduction. "The market has previously had a high expectation for the overall listing of the Hua Fong Group, Hua Fang Group also made a commitment in 2007, in the direction of the acquisition of Huafang Xiajin Cotton Group owned by the 100% Equity and Huafang Xiajin Textile Co., Ltd. 100% Equity," will be within 6 years, through various feasible ways, Hua Fang Group gradually will cotton spinning business and assets into the textile, to achieve cotton spinning business and the overall listing of assets. "andAt present, the above issue has already been completed, but the overall listing of the Hua Fang Group has no actual action, on the contrary, large shareholders to reduce significantly. In this respect, Huafang textile dong Han Yimin to reporters, "the major shareholder, Hua Fang Group has promised the main business overall listing." At present, the company and the major shareholders have linked transactions and competition, can only be said to be expected to be through the main business as a whole to solve the situation of related transactions and competition, but there is no overall timetable for listing. ”