Rui de: Gem "No.1" Encounter Waterloo

Only three years, the special Rui de from "crowded cars and horses to the noisy" into "the cold horse", let people sigh unceasingly. As the first listed 28 gem companies, Rui Tak has too many symbols: the first will, the first review through, the first release of the prospectus, and eventually get Gem Securities code No. No. 300001. But because of the high-speed rail industry Waterloo, chairman Yu Dexiang proposed "after a few years of market development will be no less than 30%" target has been clearly frustrated, its 2010, 2011 and the middle of this year's operating income growth, net profit growth, sales of net interest rates have been gradually slowed down, share prices have been declining trend Most brokerage fellows are no longer covered, and the fund is gradually fading out. The company now proposes two times to start a business. However, this is a painful process, Yu Dexiang admits, from this year, into the power industry is slower than expected.　　The road to transition is long, and Rui Tak still need to work hard. Gem a big brother from brilliant to trough "I am an investor in Qingdao, very appreciate your vision and passion, but also for Qingdao you and your team are proud." So once without hesitation to follow the Tung stock sea ups and downs, but eventually sadly off the field.　　"In April this year, a sharp German investors described their investment in the feeling of Rui Tak, at that time, Rui Tak's share price reached 20 yuan, not only than the first day of the close of 42 yuan, but also has fallen below 23.80 yuan of the issue prices." Time back to October 30, 2009, the gem as a new thing in China's capital market, by all parties to pay close attention to, and Rui Tak as the lead eldest brother, 300001 of the code has special significance, the day of the IPO was fried, high 80% to 42 yuan, after a small drop after a stir, two times , the highest rise of 168%, the highest price of 64 yuan, after the card, although a sharp decline, but still maintained a 191% increase.　　After 3 years, its share price has not returned to 64 yuan, as of Friday, its share price is 16.40 Yuan, the break rate is as high as 32%, the market value also from the first day of 5.8 billion yuan shrunk by half, leaving only about 2 billion yuan. Compared to many companies that have been in existence for more than more than 10 years before, Rui de is a rookie. Chairman Yu Dexiang and other senior executives were also high-spirited, when he raised a high profile in the next three years, the annual performance growth of 30%. Flash three years flies, although the total assets of Rui Tak from the end of 2009 to increase the 1 billion yuan, reached 1.38 billion yuan this year, but its operating income growth, net profit growth, sales net interest rate has slipped, operating income growth 2010 35%, 2011 into 21%, this year the report fell to 10%,　　and net profit growth in 2011 and this year in the report is negative growth of 7% and 25%. Involved in the high-speed rail accident, 4-month plunge nearly 50% Rui Tak for the railway to provide intelligent box change is the railway construction after the station engineering needs of power equipment. At the beginning of the IPO, Yu Dexiang received media interviews with confidence: General station construction needs 2-3 years, 2010 years is the peak year of railway investment, at least for 2 years, 2012 is the peak year of the box change bidding, so the peak of demand for the railway box has at least 5 years, relying on the railway market will not be a short-term risk. Apparently, Yu Dexiang also did not anticipate the "Waterloo change" of the high-speed railway.　　Yu Dexiang also admits that the main reason for the 2011-year decline was a major change in the company's high-speed rail industry, which has seen a sharp drop in the company's performance in the rail system, affecting its growth. Along with the problem under the operation of the special Rui Tak, the attitude of the institutions has also changed 180 degrees. Many brokerage fellows no longer take Ted as a cover, the buyer's agencies are no longer in pursuit, South reporters found that 2010 the company's top ten circulating shares of shareholders in 3-6 institutions, since 2011 's earnings cycle, the top ten circulating stock shareholders in the few funds, brokerages and other institutional investors figure.　　And the shares of the sharp Germany began the main fall from February 2011, the 4-month decline of nearly 50%.　　The key to overcoming the problem is to get rid of the railway "but, compared to the same high reliance on high-speed rail business, ding-han technology, the change is relatively timely," said an unnamed power equipment industry researcher gave such a rating, at least from the original length of the leg into a three-legged balance. "At present, the railway industry, the coal industry, the two major market depression, is the company needs to overcome the difficulties, we are also using our positive and efforts to tide over the difficulties."　　"Deputy General Manager, Dong Liu Jiaquan said, 2011 and 2012 is the company adjustment year, one is from the market to power, oil and foreign market development, the final formation of railways, electricity, coal, oil and foreign market balanced development pattern; The second is to start" two startups. "　　And a rare thing seems to coincide with the road to the transformation of Ted, Rui Tak listed a total of 799.68 million yuan, but only in April this year began to put money into production or technical improvement projects, so far in this regard total use of 403.2 million yuan, the previous use of funds used to supplement the liquidity and operating capital.　　However, the "Go high Iron" process may not be smooth sailing. Before the disclosure of the report of the Central Plains securities researcher Panhang said, box-type substation revenue accounted for the 1-year sales of Rui Tak 65%.　　At present, there are more than 2000 manufacturers of this kind of products in China, which has formed a completely marketable competition pattern and the market competition is more intense. And South all reporter found that in 58 power transmission and transformation listed companies, Rui de total assets, main income, earnings per share ranked 22nd, 26 and 21, respectively, net assets, net profit and return on assets ranked 17th, 12 and 17.　　The net asset yield for the first quarter of this year was only 1 per 27%, partly reflecting the low yield of the industry. Link Rui de chairman Yu Dexiang "complain" in the face of the stock price of a succession of tumbled and investors, Yu Dexiang bluntly, "I very much want to overweight, but I really have no money, my Gbagbo and wealth are in the Rui de,Dividends of money in addition to debt, basic life, is to help the brothers who share weal and woe. "Yu Dexiang has been listed for more than 3 years," he said of his feelings, "I am not only chairman, I am in and the team of Rui Tak fight together, shoulder to face together, run the market, catch quality, efficiency, reduce costs, almost every day to work more than 10 hours, but I do not feel that this is very bitter, I think this is my favorite work of happiness. "It takes time in the capital markets to experience the pain of growth," Yu Dexiang said. "He is like a child to me and I want him to grow up better than anyone else."　　Reporter observes South all reporter inquires Discovery, as the company chairman, the Yu Dexiang does not have the shareholding company's stock, its 2010 and 2011 annual salary is 420,000 yuan and 480,000 yuan respectively, compared to the listed company executive frequently tens of millions of stakes is insignificant. The introduction of the three anniversary of the opening of the gem is coming, after nearly three years of testing, the first batch of 28 companies have failed to achieve the myth of high growth, there are industries unforeseen cold winter, lying in the gun, such as the special Rui Tak and Ding Han technology, but also too dependent on large clients parasitic companies, such as the Shenzhou Tai Yue, and fake growth of Pao shares, their market value has shrunk , share prices tumbled, shareholders complained, executives promised to empty. However, there are companies in the positive transformation to seek breakthroughs, and some still pacing not before. Of course, there are a few companies that have laughed at the end, such as Pathfinder, Red Sun medicine, robots, they achieved market capitalisation and stock price QI, the early listing of the overvaluation has been high growth, from the financial indicators, they not only meet the investment master Peter Lynch and Buffett's growth-stock standards, but also to achieve the original intention of the gem set up the leader.　　Crying or laughing, there are some stories behind them, and this week's plan is to try to find the key to the success of a company in the details of these stories. Thematic co-ordination: Chen Yuanyuan topics: South reporters Wang Tao intern Woyaling