Two-degree miscarriage, qian-yuan electric power third-time additional success

Qian Yuan Electric Power (002039) The shareholders ' meeting held in Friday has attracted much attention because of the classified vote on the directional issuance scheme and the new Chairman's appointment.　　After two additional failures, the company's third directional issuance scheme has won the support of nearly 90% circulating stock shareholders, and the new and old chairman has also successfully completed alternating. Data show that April 30, Qian-yuan electric power proposed a targeted additional plans, to include Huadian Group and Wujiang company, including no more than 10 specific objects issued not more than 64 million shares, the issue of cash subscription issued shares　　The issue price is not less than 16.86 yuan, the net amount of the proposed funds is not more than 1.08 billion yuan, respectively for the Beipanjiang company to increase capital, for lighting, Dong Ji project construction, as well as to the West Source company to increase capital for good mud slope project construction, and repayment of financial institutions loans. At the time, a body of research reports that, because the company before the failure of two additional experience, investors need to pay attention to the risk of the plan again, but considering the plan and the two previous plans are very different, this plan through the shareholders General Assembly vote on the possibility of greater. It is understood that the source of power because of the diversification of the stock, and small investors mainly, so matters related to refinancing and other major issues with the circulation of shareholders difficult to communicate.　　The first two plans due to time tight, market time is not good, Qian source electric power related personnel, although on behalf of major shareholders and investors have a positive and effective communication, but did not get enough support tickets, the plan a premature death of 10 percent. The relevant data also shows the source of attention to the refinancing program of Qian-yuan power: the shareholders and authorized representatives who attend the on-site meetings and vote are 21, representing 67.5026 million shares of shares, 48.13% of the total share capital of the company, and 868 of the public shares in the community. Represents 29.1889 million shares, accounting for 20.81% of the company's total equity.　　Therefore, the final approval rate of nearly 90% is sufficient to show that the Guizhou source power of the refinancing program has been a great deal of shareholder recognition, but also shows that the listed companies in the major shareholders and investors in the communication is fruitful. In hindsight, Qian Yuan power of the refinancing scheme has been successful. First of all, the programme to reduce the company's financial burden, accelerate the development of great advantage. As the ping an securities evaluation, as at the end of the quarter of 2010, Qian-yuan electric power combined with assets and liabilities ratio of 91%, is the most leveraged power listed companies, 2009, the company's financial costs accounted for up to 43.8%, the company's non-public offerings are mainly to ease the financial pressure of the company, The company repaid 320 million yuan of financial institutions to borrow, is expected to reduce the financial costs of about 17 million yuan.　　Secondly, in the previous wave of deep adjustment in the market, Qian Yuan electric power price of the lowest exploration to 16.82, and then quickly pulled up, indicating that 16.86 yuan/share of the directional additional price through the market test, has been recognized by investors. For the future development of Qian-yuan electric power, there are agencies that after the refinancing, Huadian group may also be injected into the Wujiang River Hydropower Company, the subsequent reorganization space is larger. and QianSOURCE Electric Power new chairman Wang, at the same time or Wujiang hydropower Board Chairman's identity, also let investors are full of anticipation.