Tianwei Insurance Change 800 million yuan to pay for the new energy radical expansion

August 26 Evening, Tianwei Change (market, interrogation) (600550. SH) Released 2013.5 Annual report, by its own new energy business plate seriously dragged down, as well as a large number of measures to reduce the impact of preparation, the company's first half of the huge loss of nearly 1.1 billion yuan. The report shows that during the reporting period, the company realized operating income of 2.069 billion yuan, an increase of 83.88% per cent, to achieve the net profit attributable to the shareholders of the listed companies is-1.098 billion yuan. Among them, the main reason for the widening of the medium-term net loss is to reduce the value of 820 million yuan and the loss of new energy business. The report shows that the company's power transmission business income of 1.954 billion yuan, an increase of 91.64%, gross profit margin of 11.77%, the year-on-year decrease of 1.91%, the realization of operating profit of about 230 million yuan. At present, the photovoltaic industry boom has been the bottom of the recovery, but the upstream of the polysilicon industry is still heavily overcapacity and the U.S. and South Korea import polysilicon dumping double pressure, resulting in the price is still depressed. The company's new Energy business section of the first half to achieve operating income of 74.74 million yuan, the gross margin is lower to 1.82%, to achieve operating profit of about 1.36 million yuan. According to the bulletin, Tianwei to change as high as 820 million yuan to reduce the value of assets, mainly from its subsidiary involved in new energy business, including the specific provisions of the provision of bad debts of 62.71 million yuan, the relevant subsidiaries of the stock price of 68.06 million yuan, the relevant subsidiaries of fixed assets impairment of 510 million yuan, The related subsidiary company in the construction project impairment reserve 150 million yuan, the related subsidiary company Intangible assets Depreciation prepares 20.46 million yuan. August 14, Tianwei security change has announced that the four subsidiaries will implement debt to share, will be about 1.8 billion yuan commissioned loans for capital injection operation. Among them, the days of power to the implementation of the debt into the equity increase of 935 million yuan, the implementation of the Tianwei blade debt to the increase of 214 million yuan, Tianwei Changchun to obtain debt to the stock increase of 154 million yuan, the implementation of the Tianwei film debt to the equity increase of 498 million yuan. But less than half a month, to obtain increased capital of the Tianwei film, Tianwei blade assets have been a large amount of impairment. Due to the company's related subsidiaries operating income, profits continued to fall sharply, a large loss, some subsidiaries have entered the production of half production. Companies that share in the new energy companies have big losses after aggressive expansion has been a bitter pill and the company has to pay for it. Tianwei change in 2012 has been a loss of 1.525 billion yuan, if the 2013 successive losses, two consecutive years of loss of the Tianwei change will be difficult to escape by the "ST" fate. August 27, the Tianwei security change reported closed at 6.63 Yuan, Rose 5.57%.