Loss of performance to buy the Lost river powder magnetic material where to go

Our reporter Zhang Ting unexpectedly, the merger case was suspended after a short period of 2 months. This means that the river Powder magnetic material (002600, stocks bar) The previous wishful thinking has been dashed, and the company also faces the possibility of performance or will continue to lose money. Jiang Powder Magnetic material exposed this bad, serious blow to the stock price, August 14, the unit low drive low, and finally fell 5.65% closed. "The house is leaking overnight." Use this sentence to describe the river Powder magnetic material (002600), appropriate. Poor performance of the river Powder magnetic material originally expected through mergers and acquisitions of better titanium assets, open up new profit growth point, but due to the company's first-half performance losses, trading the other side worried about the second half of the company continued to lose money, so suspended the acquisition. The three-day suspension of the river powder magnetic materials in the August 14 after the shares fell sharply. The three-year listing of the river Powder magnetic materials, the performance of deteriorating, in the industry downturn, temporarily see the recovery of the background, Jiang powder magnetic material in the future where to become a mystery. The takeover is hopeless. The powder magnetic material is one of the largest manufacturers of ferromagnetic material components in China. The main products include ferrite permanent magnet components, ferrite soft magnetic components. Jiang Powder Magnetic materials in 2011, but the unexpected is that the company listed in the year, its net profit on the year-on-year decline of 38.93%. Since then, the company's operating situation has not been improved, but in the decline in the quagmire of the deeper. Following 2012 net profit fell 0.83%, 2013 net profit fell 65.05%, the river powder magnetic material also exposed the 2014 medium-term will lose 10 million-7 million Yuan performance mine. It is noteworthy that the former Yangtze river powder magnetic material was expected to achieve a profit of 6.3939 million yuan to 9.946 million yuan in the first half of this year, but the company released on July 7, the announcement of the revised performance notice, the original profit to the loss. For the reasons for the loss of performance, the Company believes that including the permanent magnet body oxygen market demand changes in product structure adjustment led to a slight decline in production, and in recent years the rising cost of labor, etc., resulting in a decline in profits. In the case of poor performance, Jiang powder magnetic materials will be expected to rely on the acquisition of profitable assets to improve performance. In May this year, the company launched a plan to purchase assets by issuing shares and paying cash. In particular, the company intends to buy 100% of its five-ring titanium industry in the form of a combination of non-public offerings and cash payments to Schafer investment, Ping an investment and investment. Five ring titanium industry leading products for titanium deep-processing products, due to the five ring titanium industry, the scale of the expansion of the development of a good momentum, Jiang powder magnetic material that the merger and acquisition to promote the company's profitability. This scheme, caused by the market, Jiang powder Magnetic material Recovery Card stock trading day. But it is unthinkable that the merger was halted after just 2 months. Jiang Powder Magnetic materials announced on August 14, "In view of the company's expected losses in the first half of 2014, involved in the issue of shares and pay cash to buy assets matters of the parties to the future market development trendDifferences of opinion, by the parties equal, full consultation, unanimously agreed to terminate the transaction. "This means that the former wishful thinking of the river powder has been dashed, and the company is also facing the possibility of performance or sustained losses." Jiang Powder Magnetic material exposed this bad, serious blow to the stock price, August 14, the unit low drive low, and finally fell 5.65% closed. Operating crisis has already highlighted the reporter noticed that the river powder magnetic material a number of financial data has already revealed the crisis of the company's operations. Wind information shows that the company's gross profit margin in 2011 to maintain the level of 22.48%, but fell to 16.04% in 2012, 2013 is only a poor 15.34%; sales of net interest rate data is even worse Fell from 7.52% in 2011 to 0.87% in 2013. The data also showed that, in the nearly 5 years since 2009, the company's performance had risen by 57.38% in just 2010 years, with declines in other years, as high as 38.93% and 65.05% per cent in 2011 and 2013 respectively. In addition, the company's asset-liability ratio is also increasing, at the end of 2011, the company's assets and liabilities rate of only 17.37%, as at the end of 2013 has risen to 37.24%. On the other hand, the reporter noted that the company's investment projects are also not up to expectations. The company raised 636 million yuan in the IPO, as at the end of 2013, the total amount of capital raised was 514 million yuan. The annual output of 15000 tons of high performance motor permanent ferrite magnetic tile Technical Renovation project and the annual output of 5000 tons of jpm-2e high performance dry pressure dissimilar permanent magnetic ferrite materials and products development projects were reached on February 1, 2013, but the capacity utilization rate is not high, coupled with fierce market competition, Raw materials, labor and other costs continue to rise, profit margins fell, 2013 has not achieved the expected benefits. And the company's another investment project annual output of 3000 tons of environmental protection, high-performance bonded permanent ferrite Technical improvement project is due to the macroeconomic downturn, downstream demand is not strong and the construction of new building projects delayed the progress, the construction should be completed before June 2014 to achieve the expected progress. More importantly, for the current difficulties encountered by enterprises, the company does not seem to be particularly good means of resolution. "When the industry continues to slump, our business is mainly to reduce costs and costs." "Jiang powder Magnetic material Securities representative Liang Li in an interview with this economist, said," the industry has its unique volatility cycle, at least in the first half of this year, it is still in a depressed state, as to when the recovery, we are not too clear. Liang Li said, "pay more attention to our forthcoming semi-annual report, there will be management of the company's future development of a train of thought." "Jiang powder magnetic materials In recent years, a list of important financial indicators" report period 2009 reported 2010 2011 Report 2012 Report 2013 reported earnings per share year-on-year growth rate (%)-12.90 37.04-5135-16.67-66.67 of net cash flows from operating activities per share (%) 750.00 29.41-127.27-14.67-115.55 Operating income year-on-year growth rate (%)-7.88 51.20 16.47 20.95 29.67 operating profit year-on-year growth rate (%) 7.72 64.33-36.77-70.28-69.28 attributable to the parent company's shareholder net profit year-on-year growth rate (%)-0.89 57.38-38.93-0.83-65.05 net asset yield (diluted) year-on-year growth rate (%)-12.33 9.56-69.96-2 01-64.64 assets and liabilities ratio (%)--17.37 20.47 37.24 flow ratio (times)--3.48 2.53 1.54 speed ratio (times)--2.61 1.64 1.10 data Source: Wind Information