Transition after weak capacity for sustainable development, the performance has significantly transformed the That is, transition and transformation of the company's performance showed some length of time a negative correlation.
Do panic! The main force is still diving? Stuck with the stock is likely to have saved! March the stock market changes are likely to occur? Tug of war behind the hidden financial trends!
According to our reporter statistics, performance improvement the transformation of companies, ST and * ST nearly 70% of the company to profitability; the transformation of poorly performing companies, more than 50% of the implementation of restructuring three years ago, is now a substantial part ;, again after three years in transition need to look into the plight of a new direction. Implemented by 2007 the main business transformation company, has little to re-financing, which, after transition from the side that
example * ST RoyalTek (former East electrician, security code 600139) in Sichuan RoyalTek Group entered later, has been committed to the transformation of the information industry, but long-term without success, in a highly confidential position, Shenzhen and Shanghai's first release will be delisting risks to the company special treatment; Mianyang High-Tech Investment (Holdings) Group took over the company after being forced through financial subsidy losses, and start a new round of infrastructure construction to , development, property management and the restructuring of municipal building trip.
Rockets shares (original Wuhan cable, 600,879) of the transformation and Aerospace Changfeng (formerly PT North Brigade, 600,855) was undoubtedly the exception to the transition: the former in the China Carrier Rocket Research Institute of steady growth after the White , when net profit of 122 million, an average of 0.35 yuan per share, and implemented a rights issue; the latter was suspended from trading by the end of the year so Changfeng Science and Technology Corporation completed a major reorganization of assets, the company was changed to digital applications based on of technology, not only stock listed for trading resumed, it also has a re-financing status.
of difference between company performance in transition do not
survey, according to our reporter, the majority of listed companies in transition, the main industry is the door, no turning back even after ST, began hastily re-transformation of this with the emergency, the fire transformation of the passive nature of the company accounts for about 80% of transition, restructuring and transformation of the natural effect is difficult to guarantee, even though many of the listed companies has nothing to do with the new primary industry profitability.
by the transformation of a few companies invest in new areas, start new projects, replacement of assets and other means to open another front, the new owners moving water test done. Such companies account for restructuring the company's main business less than 10%, but almost all post-transition steady performance achieved significant growth even with the passive transformation in stark contrast to the company. For example, Guangzhou Iron and Steel shares (600,894) and Guangzhou Iron and Steel Group, asset replacement, into the main processing and distribution of metallurgical products, gas production and gradually move towards the modern logistics industry
Shougang shares (000,959) of the progressive transformation has for several years, although there are still profits from a variety of goals, but the performance of the company to maintain a relatively stable development momentum, return on equity of 13% or more consecutive years; Chengxing shares (original tripod ball industry, 600,078) implementation of asset replacement and Chengxing Group, will be spinning, and paint stripping classes of assets and related liabilities equivalent phosphorus chemical assets into high-quality, performance, sound development; Shaanxi Jinye (000 812) raised by changing the investment direction, the means of merger main transition, the same stable performance; Fuxing Science and Technology (formerly Hubei Chuansheng, 000,926) by the main rope to real estate and get involved in fiber optics, biotechnology and other areas, performance has increased significantly.
are not a key to profitability
main results of a larger restructuring contrast, in addition to active transformation of the reason to win the active and passive lay hidden in transition and post transition performance
from statistical data, the transformation of the company's original owners concentrated in the integrated industry, commercial retail, electronics, chemicals that several traditional industries, especially in the commercial sector is most prominent, accounting for restructuring the company's 1 / 4 . In addition, capital-intensive, significant economies of scale machinery, metal and nonmetal industries, but also smaller companies stripped of their original owners business assets.
information technology, real estate, pharmaceutical companies invariably become nearly half of the choice of transition; followed by electricity, utilities, machinery industry. The industry brought together 2 / 3 of the transformation of the company, but the hot industry, medicine, information industry concentration and uneven quality of there profits. From the three quarterly perspective, restructuring the company results for the year 2010, the trend of significant differentiation, shows hot industry does not mean equal opportunity to enter.
ST for the transformation of companies, in the face suspension of listing or delisting of the specific context, relying solely on weak footing of the new primary industry in the thirst
major shareholders to decide success or failure of the main transition
proved, in the Whenever a new major shareholder of financial strength, technology leadership, channel development, strict management, the company's main business transformation and core competitiveness of the forging relatively smoothly, and with the major shareholder of a complementary, hand in hand with the situation.
example, SDIC Electric Power (formerly * ST Hua Jing, 600,886) was facing the risk of suspension of listing, but with the company, the State Development Investment Corporation and China Petrochemical (600028) asset exchange between three and three into play efficiency of power generation companies, the company realized main business income of the year transformation of 1.377 billion yuan, net profit of 215 million, 19.96% ROE, and thus into the blue chip camp; the next few years, the company is expected to open the country to vote with a strong strength, to seize the opportunity of electricity reform to achieve sustainable development.
Again Luyin Investment (formerly * ST Lu silver, 600,784), in Shandong Laiwu Steel Group's strong support from transforming itself into a steel cutting-edge, the company main business in transition year, and revenue jumped 7 times losses in one fell swoop; Haitai Development (formerly ST Haitai, 600,082) will be all business assets and liabilities set out Haitai high quality assets into the Group, in transition year to achieve earnings per share 0.19 yuan to 0.34 yuan after further ; Comprehensive Shu are (000584) is of Jiangsu Shuangliang technology acquisition, transition from the main business of the year the profitability of a strong new product sales spandex, forecasted; Nanjing SVT Group Swan indirect holding * ST (000418) After the main business to the IT industry restructuring, asset quality and profitability increased significantly.
According to our reporter statistics, achieved through the merger of the companies main business transformation results of differentiation occurs. Such as Qingdao Double Star (000,599) shares of Merger Huaqing, the current tire manufacturing industry has become an absolute mainstay of income and benefits; as a result of merger than the original ceramic paper leaving the main business of a company's performance has in recent years, significant downward trend. This is mainly because the operating mode of merger and more for local government-led merger at this time came in asset quality and profitability performance of the company as a key influence.
sharp contrast with the above is false re-transformation. Some established only a few months or even days, only a few million a year profit organizations or even a few thousand dollars, the name will be listed as a reorganization under the guise of speculative era of the then decreased until a huge loss. Teaching English as ST (600,672) from the history of a single Euro-Asia Agricultural, Kwong Wah fiber, Sichuan, Kwong Wah, Kennedy and science and technology titles, we can see how the company has experienced a transformation of Journey.
Thus, most frequently associated with major shareholders and frequent changes to the company transition is often more frustrating is the poorer, and to pay the final price can only be the majority of investors.
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