Latent three years Super Retail Koshing evacuate New Hope
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October 30, 2010, New Hope (000876. SZ) released three quarterly bulletin. Data show that January-September total operating income of 5.594 billion yuan, attributable to the listed company shareholders of the net profit of 413 million yuan, an increase of 5.16%. In stark contrast, the first half of the company's ownership of the listed company's shareholders in the net profit is only 259 million yuan, down 2.29% year-on-year. Still, it may be that the three-quarter recapitalisation effect is more likely to mark New Hope, and the resulting share price rise is far more dramatic than the turnaround in its performance. According to the reporter rough calculation, as of November 1, in nearly four months time, the new Hope share price has risen from 8.56 yuan before the reorganization to 19.94 yuan, up to 132.94%. Weak growth hopes the restructuring, while successfully reversing the decline in profitability, should not be overlooked in terms of the three quarterly data. According to the relevant earnings data, the company's first half of the operating income of 3.511 billion yuan, the year-on-year increase of 12.91%, but the first three quarters of the year-on-year increase is only 11.88%, fell 1.03 percentage points. And the company's third quarter of net profit although realize 153 million yuan, an increase of 20.72% but its realization of the 2.083 billion yuan revenue scale, but only a year-on-year increase of 10.18%. It is noteworthy that the company's first quarter to achieve a year-on-year increase in revenue to 13.88%, the realization of the ownership of the listed company shareholders more than 43.19% per cent year-on-year growth. It is not hard to see that this year's performance has shown signs of a month-on-month decline. On the semi-annual performance changes, the company has attributed it to the "severe drought in southwest China, major outbreaks and pig prices depressed, falling, and other superimposed effects, livestock and poultry stocks fell seriously, the market demand for a sharp drop in raw materials prices continue to rise." But the real factor in the new hope of slowing performance is the drag on its dairy assets, according to one industry insider. Available data show that the company's dairy companies 2006-2009 net profit of 15.25 million yuan,-28.27 million yuan,-18.22 million yuan and 4.25 million yuan, the first half of this year more losses amounted to 20.01 million yuan. It can be corroborated that the new hope for the September launch of the 7.8 billion overall farm asset listing scheme, the sword refers to its dairy assets. The disclosure of the scheme, in the Six and Group Co., Ltd. 100% stake in Shandong, the new Hope for 100% of the agricultural and pastoral shares, the company will be stripped of the New Hope Industrial Investment Co., Ltd. 51%, Sichuan New Hope Industrial Co., Ltd. 51% Equity, the latter two are mainly related to dairy and real estate. As a result, in the weak performance growth, the new hope will be to create a "feeding-breeding-slaughter-meat processing" Industry integrated industrial chain model to boost corporate performance. According to its estimate, after the reorganization completes, 2010 the listed company will realize the income to be about 52 billion yuan, enhances 673% than 2009, realizes the net profit which belongs to the listed company shareholder is about 1.065 billion yuan, is more than2009 increased by 145%. Institutions and affiliated companies arbitrage since September 13 after the new Hope has set a six consecutive trading limit. This undoubtedly makes the latent of the stock to make a pot full. The disclosure of shareholder information in the third quarter makes the profit of the relevant shareholders appear. According to data, as of June 30, 2010, that is, less than one months before the suspension of the restructuring, a total of 35 major institutions (29, 2 insurance companies, securities brokers set up 1, general legal person 3) hold New Hope, the total number of positions 430 million shares, accounting for the circulation of a shares 57.98%. According to the company's semi-annual disclosure, the top ten shareholders, in addition to the 3 "Hope Department" company, respectively, for the Yifangda Fund, China Life, financing fund, Morgan Stanley Fund, Italian insurance, holding 6.968 million shares, 5.5448 million shares, 4.5635 million shares, 3.602 million shares, 3.1882 million shares. It is noteworthy that the company has two other natural shareholders Koshan, Koshing, respectively, holding 3.5271 million shares, 2.5893 million shares, ranked eight, tenth. According to the reporter access to relevant information, both early in 2007 three quarters in the stock, the way constantly overweight, is a super retail. But three quarterly reports show that both the Sino-Italian insurance and Koshing disappeared in the top ten shareholders. Only on the basis of the difference between the stock price prior to the suspension of the reorganization and the close of September 30, the book market value of the two holdings amounted to $100 million, which was more than 44 million yuan before the suspension. But more shareholders are giving a sustained bullish outlook. Among them, Morgan Stanley increased by as much as 3.001 million shares, the original ten shareholders easy to reach the fund, China Life, Financing fund, Koshan respectively increased by 297,200, 554,500 shares, 440,400 shares, 352,900 shares. And noteworthy is that the new into the top ten shareholders are the Chinese fund and the Shandong Trust-Ze hee Ruijin 1th, respectively, holding 7.472 million shares and 20.58 million shares. However, through this good, cash profit and New hope that the company Chengdu beautiful Real Estate company, its more profitable. According to the October 15 announcement, its 2007.8 months from 27th to October 14, 2010 reduction of about 8.5093 million shares. Compared with its semi-annual holdings, it is known that the reduction happened in the first 5 trading days in October, a total of 6.355 million shares, according to reduce the average price of 18.4 yuan, the total amount of up to 117 million yuan.
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