The year-end shell-keeping technique of gem: merger curve saving the nation

At the end of the year, the gem has set off a wave of shell-keeping tide. The main business board is mainly private owners, they are more concerned about Gbagbo. "One gem said that although the three consecutive years of losses only to suspend the listing, but some weak performance of the start-up board in the second half of the year to run around the shell. Wind information shows that, as a result of the macroeconomic downturn, gem loss face is expanding every year: 2011 only when the technology (10.970, -0.08, -0.72%) (300073.SZ) a loss, 2012-year loss of the company to 13, Of these, 5 2013-year Quarterly reports again lost their losses, respectively, Wanfosenko (5.650, 0.00, 0.00%) (300268.SZ), Tianlong optoelectronics (8.470, 0.02, 0.24%) (300029.SZ), Pao shares (10.480, 0.10, 0.96%) (300023.SZ), Kimtongling (13.430, 0.03, 0.22%) (300091.SZ), Kennedy Fire Fighting (5.990, 0.00, 0.00%) (300116.SZ). The next two or three years should be the emergence of the enterprise Board of the delisting company. "One gem company Securities department said that the listed companies have the means of financial adjustment, the local government will also help, but for the continued loss of gem companies, how to restore their own hematopoietic capacity is the key." And in the regulatory department does not allow the Shell Gem Company's background, the gem Company's Shell Impulse has spawned the acquisition of this curve to save the way. Raise a double-edged sword the 21st century Economic Report reporter survey found that the continued loss of the gem company with the investment project is not up to expectations, and this is the company loss of blood losses. A pitching project is a double-edged sword. "The chief executive of an enterprise board company said do a good job in the investment project, the company can be transformed and upgraded, but with the gradual completion of the investment project, the company's account will be less funds raised, which makes the company's interest income reduced, once the project is completed, under construction will be transferred to fixed assets will produce depreciation, Once the profits of the investment project cannot be covered by depreciation, the loss will follow. 21st Century Economic Report reporter statistics, Wanfosenko IPO 4 investment projects have not achieved the expected benefits; Tianlong photoelectric 4 investment projects and a super raise capital projects have not reached the expected benefits of the 1 shares of Bao Tak investment projects and 3 super fundraising projects, only the implementation of ERP information management project "to achieve the expected benefits, and 4 of the gold-smart investment projects, 3 of which did not achieve the expected benefits. The only exception is the Kennedy fire, whose 2 projects were completed on December 31, 2013 and December 31, 2014, and it is not yet possible to determine whether the expected benefits can be achieved. Pao shares also appeared to raise investment projects did not generate revenue, but the burden of the situation of listed companies-Po Tak shares October 30, 2009, raised to 265 million yuan, of which 160 millionYuan to oil drilling and mining integrated electronic control equipment production base ", but the project has been postponed several times, the initial estimate of the annual total profit of 126 million yuan, and the corresponding is that the fund invested in the establishment of Xi ' an Po Tak Electric Co., Ltd." project since 2012 the cumulative loss of nearly 20 million yuan. The impetus for mergers and acquisitions, if only through financial means or government subsidies to achieve the shell, but the symptoms are not the root causes. "If the main business cannot be boosted, it can be done by way of mergers and acquisitions to restore the ability of the listed companies," says Dong, an enterprise board company. Tian long photoelectric that is the deep downturn in the photovoltaic industry, the main business has been difficult to reverse. December 25, 2010, Tian Long photoelectric IPO to raise 878 million yuan in cash, but 2012 a huge loss of 511 million Yuan, 2013 years ago three quarterly loss of 34.52 million yuan, which makes its accounts on the cash almost dry. Financial results show that the days of the end of the September 2013, the money is only 86.95 million yuan, compared to the beginning of the 164 million yuan plummeted 47.56%. The company's current funding situation is not really ideal. "Tianlong Optoelectronics Dong Lusson admits. In some capitals, it seems that mergers and acquisitions can allow the acquisition to promise performance, which means that the success of mergers and acquisitions, listed companies will reduce the profit pressure of a lot of less than two or three years of the basic risk of shell. In 5 consecutive losses of the gem companies, the Kennedy Fire on November 4, the suspension of the profit of major assets restructuring. 21st Century Economic Report reporter Master of the situation is that Kennedy fire to do the same trade mergers and acquisitions, which can increase the company's performance, on the other hand, as soon as possible in the fire field of the Battle of the warlords stand out. Gem listed companies have a relatively high p/E ratio, the acquisition of some low P/e assets, sometimes the essence is to spend money to buy profits. "The listed company Dong said, although the regulatory department does not allow Shell gem, but if through mergers and acquisitions, can let the acquirer become the second largest shareholder, at this time if the large shareholder reduction, the acquisition party theoretically has the opportunity to become the new owner of the listed company."