Lu Xiang Li mine in the lawsuit door reported a meager profit/earnings ratio of nearly 200 times times

Shares were fired by the road Xiang shares (002192, closing 33.98 yuan) performance suddenly face.　　The company announced today (August 28) The 2010 Annual report, it is surprising that the first half of the company's operating profit and profit total of two indicators are negative, earnings per share is only a penny. The report showed that the first half of the road Xiang shares operating income of 338 million yuan, an increase of 139.68%, however, the company's operating profit, total profit was reduced by 226.95%, 221.57% respectively,　　Operating profit of loss of 554,800 yuan, the total profit is 538,000 yuan loss, attributable to the shareholders of the listed company net profit of 1.1849 million yuan. The advance is a big trick. Previously, Lu Xiang shares had announced that the 2010 1 ~ June performance Growth 550%~600%, And the company's net profit of 158,600 yuan a year ago, although the company actually disclosed a net profit of 1.1849 million yuan, higher than expected, but mainly in the current phase of the project settlement revenue from the same period a year ago, profits also increased. And for operating profit and total profit of two indicators of loss, Lu Xiang shares of the explanation is that the total operating profit, profit reduction of 226.95%, 221.57% respectively, mainly due to the current phase of the lithium industry has not yet completed acceptance, is still in the trial production stage, its sales revenue and profits did not account into the profit accounting account,　　and the corresponding period cost increases the current period loss; In addition, the subsidiary XI ' an road Xiang, Hunanlu Xiang This period of construction projects less, resulting in losses.　　It is noteworthy that, although the business income of the road Cheung shares has increased significantly, but the gross margin has declined sharply, the report period of professional asphalt gross profit margin of only 8.89%, down 2.2% from a year earlier. It can be seen that, although the road Xiang shares in advance notice, but in fact, earnings per share is only 0.01 yuan, and do not make no difference.　　This is actually a disguised trick, the company's traditional business does not have a profitable growth, even according to the company's disclosure of earnings forecasts, the year's profit will not have a significant increase in 2010, the dynamic P/E ratio is nearly 200 times times! The high price-earnings ratio, which is mired in litigation, is only because of the company's lithium-ore concept.　　But the company's lithium-ore assets are a lawsuit. The company disclosed in the report that the holding subsidiary in the lithium industry has the following litigation matters: In March 2008, Sichuan Province Pengan County Construction Corporation (hereinafter referred to as the Construction Corporation) to the court, To request the court to confirm the project payment of 46,433,963 Yuan; request the decision Rong Tatsu Lithium industry payment of 3,292,452,6.2 Yuan and should bear the interest of 3,852,165 yuan (temporarily to March 30, 2008); Request the Court to decide the financial losses of the payment of overdue works by the lithium industry is 300,000 yuan; Request Rong Li industry to bear the lawsuit Costs and related fees.　　As of March 31, 2009, Rong Tatsu Lithium industry has actually paid the Construction Corporation project section 14.34 million Yuan. Guangzhou Rong Jie Investment Management Group Co., Ltd.Hereinafter referred to as Jiang investment) commitment, such as the case final decision Rong Tatsu lithium industry need to pay more than 15 million yuan, litigation costs more than 1.5 million yuan, then more than the part of all by Rong Jie investment commitment. If the company or the loss of the lithium industry, the company and Rong Li industry has the right to recover from the investment in the Czech Republic.　　As of June 30, 2010, the case was in the process of trial.　　However, Lu Xiang shares in the lithium mine assets are still quite confident, the company said, is expected to melt up the lithium industry in the third quarter of the comprehensive completion of the acceptance, early investment in fixed assets depreciation and intangible assets depreciation amortization will have a certain impact on the company's consolidated statement profits. From the institutional point of view, the top ten circulating stock shareholders, only a healthy one fund, a shareholding of 4.5008 million shares, Ping an life insurance stock only 634,800 shares, in addition to a holding in good faith 379,980 shares, others are natural shareholders.　　This shows that most agencies in the investigation, not optimistic about the shares of the road Xiang. Industry insiders pointed out that recently, the concept of lithium ore speculation crazy, Lu Xiang shares are likely to be a number of private joint manipulation, the future of the company lithium mine can bring how much income is still unknown, in the case of nearly 200 times times earnings, once the lithium ore assets can not meet the expectations, the risk will be very large.