Yingkou Port owes big shareholder 2.8 billion to buy money worry: 4 times in half a year loan

May 6, Yingkou Port Co., Ltd. (600317, hereinafter said: Yingkou Port) issued a notice, April 27, 2009, and the Bank of Communications, Yingkou branch signed a total amount of 200 million yuan in the loan contract, used for operating capital, borrowing annual interest rate of three years, the benchmark interest rate of 10% downward, The period is from April 27, 2009 to April 26, 2012.　　Borrow for credit. This is already in Yingkou port since 2009 issued the 4th loan information, the loan amount has reached 1.55 billion yuan.　　In a short period of less than six months, Yingkou Port 4 consecutive loans in the end?　　According to our correspondent understand, since June 2008, Yingkou Port to the major shareholder Yingkou Port Group Co., Ltd. (hereinafter: "Port Group") directed additional purchase of 5.7 billion yuan of the total value of the berth assets, the current Yingkou port still has 2.8 billion yuan of cash has not been paid.　　Analysts believe it is the huge amount of money that has left Yingkou port in the mire of ongoing loans. In order to acquire group assets, Yingkou Port has a 2.8 billion-yuan liability pressure June 13, 2008, Yingkou Port issued a notice said, Yingkou port to 14.55 Yuan/unit to the Port Group directed issue 200 million shares and pay cash to pay the purchase of assets, the purchase of assets including the port group Bayuquan Bayuquan District 16#, 17#,　　The assets and operations of 22#, 46#, 47#, 52# and 53# amounted to seven berths.　　Prior to the issuance of shares to buy assets, the port group held a 36.51% per cent stake in Yingkou port, and the shares of the port group rose to 59.65% per cent after the issue.　　According to statistics, Yingkou port to buy large shareholder in real assets 16#, 17#, 22#, 46#, 47#, 52#, 53#, a total of 7 berths assets of 5.7 billion yuan, the evaluation value of 5.98 billion yuan, the transfer price of 5.7 billion yuan, and the transfer of assets of the original book value of 4.1 billion yuan.　　Although, Yingkou port in the form of directional additional pay 2.9 billion yuan, but still have 2.8 billion yuan to pay in cash, it is this sum of money increased the capital pressure of Yingkou port.　　After consulting the notice, the reporter found that yingkou port in 2009 of 4 loans, the first two 500 million yuan loans are mainly used to buy money. February 24, Yingkou Port announced on February 5 to the Bank of China Yingkou Economic and Technological Development Zone Branch loan 500 million yuan for the acquisition of Yingkou Port Group Co., Ltd. berth assets. The loan period starts from February 5, 2009 and lasts for 10 years and is divided into 10 instalments.　　The loan is guaranteed by the controlling shareholder, Yingkou Port Group Limited.　　After less than one months, March 10 Yingkou Port again issued a loan announcement that the company and China Minsheng Bank on March 2, 2009 signed a total amount of 500 million yuan loan contract, used to pay the acquisition of Yingkou Port Group Limited assets. General listed companies to acquire the group assets will be all through the way of directional additional, but Yingkou Port still have to pay 2.8 billion yuan of cash, which makes the company overwhelmed. [Page] Corporate bond issue is hopeless　　Can only rely on bank loans in fact, Yingkou Port has looked forward to the issuance of corporate bonds to fill this huge amount of debt, but according to the people in Yingkou port, due to market environmental reasons, at present, the issue of corporate debt has become impossible. In this case, Yingkou Port can only rely on bank loans to alleviate the demand for funds.　　The announcement indicated that, in addition to the two borrowings, Yingkou Port issued a notice on April 9 and May 6 respectively that the company loans 350 million yuan and 200 million yuan respectively to the bank, a total of 550 million yuan for operating capital and liquidity turnover.　　April 9 announced that Yingkou Port and Shenzhen Development Bank Dalian Lu Xun Road branch in March 2009 signed a total amount of 200 million yuan in the loan contract for working capital turnover, the period from March 10, 2009 to March 10, 2011.　　In addition, the company and the Bank of Communications Yingkou branch in March 2009 signed a total amount of 150 million yuan in the loan contract for operating funds, the period from March 30, 2009 to November 16, 2011.　　And one months later, May 6, Yingkou Port also issued the company said April 27, 2009, the company and the Bank of Communications, Yingkou branch signed a total amount of 200 million yuan in the loan contract, for operating funds, the period from April 27, 2009 to April 26, 2012.　　Frequent loans to banks have made it difficult to imagine bank interest in Yingkou port. The 2009 quarterly bulletin showed that the financial cost of Yingkou port was 41.99 million yuan, more than 15.85 million yuan in the same period last year, more than 30 million yuan, according to the accounting analysis, the substantial increase in financial costs may be related to the payment of excessive interest in bank loans.　　And this is only a quarter of the data, because the loan is mainly long-term, I believe that by the end of the year, Yingkou Port's financial costs will be higher. Yingkou Port to acquire 7 berths at the same time the net profit is not increased from the continuous application of bank loans in Yingkou port, some people began to suspect that their takeover behavior more harm than good. [Page] According to the staff of Yingkou Hong Kong Dong-tung, said: "A purchase of 7 berths is indeed difficult, we also want to buy 1.1, but because the SFC has proposed a one-time acquisition will be conducive to solve the group and listed companies of the competition problem, it will be fully acquired into the listed companies." According to Yingkou port, after the purchase of the assets, the Bayuquan Bayuquan District has completed and finished the completion of acceptance, or in the near future to complete the completion of the berth, all into the joint-stock company, will effectively avoid companies and port group in the Bayuquan Bayuquan Zone competition, the company's management will be more efficient and orderly The 54#, 55#, 56# berths owned by the port group are to be operated temporarily by a joint-stock company to avoid competition from peers.　　To be fully completed and then placed into the joint-stock company to effectively avoid competition. The staff of Yingkou Port Dong said that the assets acquired by Yingkou Port are good assets and that their profits will make up for the losses caused by bank loans. But this reporter studied Yingkou Port 2009 of the quarterly findings, the feelingCondition is not ideal. The quarterly Bulletin of 2009 showed that the net profit of the shareholders of Yingkou port in the listed companies was 68.62 million yuan, a decrease of 32.38% over the same period last year, and that the basic earnings per share after the non-recurrent gains were 0.13, compared with a year earlier, minus 31.58.