Trading change and stop *st Kejian performance commitment not to force

Source: Internet
Author: User
The last two trading days before the Mid-Autumn Festival, *st Kejian (market, interrogation) from trading into a fall, this to the company is full of expectations of small investors poured a pot of cold water. Backdoor US main environmental protection major garbage power generation, its sign no less than 170 million yuan performance commitment "looks very beautiful", once the reorganization of the success of the environmental protection of the basic earnings per share or will be at the bottom of the peer. In addition to asset profitability worries, the proposed issue of additional prices than *st Kejian two market price 40%. Financial profit treasure, 1000% increase in demand deposit interest rate is questioned September 18, *st Kejian announced the issuance of additional plans, the company intends to 4.76 yuan/share of the price, to Santa Jun, Nantong Chong, Ping An innovation and other 17 shareholders issued not more than 378 million shares, to buy its holding the day of the green 100% Shares。 In addition, in order to improve the performance of this reorganization, to enhance the ability of listed companies to continue to operate after the completion of the reorganization, *st Kejian also intends to raise supporting funds for not more than 10 designated objects, to raise the total amount of supporting funds not exceeding 25% of the total amount of the transaction, and to raise funds for the construction and operation of environmental protection projects in the sky  To raise the supporting funds to issue shares to purchase assets as a prerequisite, but the success of the collection of supporting funds does not affect the implementation of the purchase of shares. "4.76 yuan of additional price, push!" "," Our small and medium shareholders are firmly opposed to this price additional! "Once the plan was announced, it was questioned by *st Kejian small investors. September 17 Trading *st Kejian, September 18 to become a fall, the report closed at 12.22 yuan/share. Even in the case of a fall, *st Kejian's additional price is only 38.95% of the share price.  However, *st Kejian said that as of the end of July this year, the company's net assets per share of 0.05 yuan, therefore, the issue price 4.76 yuan/shares far higher than the company intrinsic value, there is no damage to listed companies and shareholders legitimate rights and interests of the situation. Performance commitment "looks very beautiful" data show that the days of environmental protection was founded in 2006, mainly engaged in domestic waste incineration power generation and steam production, the company has Hai ' an day ying, Rudong, such as 7 wholly-owned subsidiary.  In the first half of 2013, only Haian days, Rudong two subsidiaries to achieve profitability, the other 5 subsidiaries in the loss and profitability of 2 states. From the major financial data of the last two years and the first period, the net profit of the day-ying Environmental Protection 2011, 2012 and 2013 was 50.16 million yuan, 64.05 million yuan and 45.94 million yuan respectively. The company's actual control of Santa Jun, Nantong, and Nantong Kun tak commitment to environmental protection in the reorganization of the implementation of the current year's net profit is not less than 170 million yuan, such as the reorganization of the completion of the year to put into the actual net profit of assets less than 170 million yuan, Santa Jun,  Nantong-Chong and Nantong Kun Tak commitment to another in cash form of the current year net profit of less than 170 million yuan to complement. "The 170 million dollar profit promise looks beautiful, but with *st KejianThis expansion, the earnings per share will become miserable.  "There are analysts in the industry that. Earnings per share of the "bottom" of the "public securities" reporter to calculate the account: *st Kejian currently has a total equity of 189 million shares, plus this time to Santa Jun and other 17 objects issued 378 million shares, the future total equity will reach 567 million shares. In accordance with the net profit commitment of not less than 170 million yuan, the day of the environmental protection of the earnings per share of about 0.3 yuan.  If add to not more than 10 specific objects to raise supplementary funds for the number of shares, days of environmental protection in the future earnings per share will be diluted.  At the same time, the reporter statistics with the days of environmental protection industry 5 listed companies in the future of the lowest earnings per share, to compare can be found, once successfully borrow Shell *st Kejian, Day Ying Environmental protection of the earnings per share is likely to be the bottom of the peer. With all sorts of questions, the reporter calls *st Kejian dong secret Hong Heliang, its telephone no answer to listen to, then the Reporter calls Day Ying Environmental protection, answer the telephone staff said Dong secret business trip not company, oneself cannot answer the question.

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