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the end of 2008, BOE A, the total assets of only 13.9 billion, which means the refinancing of a BOE A total recycling has more than enough. So, this part of the funds "circle" to have gone after the last? Caozhong Ming help to answer: "Basically, the huge loss the past two years all the money will ring to 'burn'."
BOE A (000725) is a 2009 A-share listed company private placement cases, the most "stunning" and is also a bonus so far with the "request" does not match the one the most. Such well-known financial commentator Cao Zhongming evaluation BOE A?? Has been the stock market in the "misappropriating" master.
Profit is not a lot of financing
Public information, as of June 30 this year, BOE A dividend has not for many years. Although 2005,2006,2008 loss in performance is a noble reasons, but in 2007 its earnings are still not seen any substantial shareholders of the meaning of feedback. Statistics, BOE A from January 2001 on the market, is now 8 years has sent three times, only the total amount of 66,512 [link widoczny dla zalogowanych],300 yuan.
And the last four years, "stingy" relative, since 2005, BOE A in the A share market has successfully refinanced three times [link widoczny dla zalogowanych], totaling nearly 15.9 billion. Most recent on June 9 this year, the announcement said, to 2.4 yuan / share private placement price of 5.0 billion shares, the total 12.0 billion refinancing. Before the two were in July 2008 (and fund-raising total of 2.25 billion yuan), and in October 2006 (and fund-raising total of 1.86 billion yuan).
Years, according to BOE A2009 semi-annual report, as at present, the company refinanced a net 15.22 billion yuan, this basis, the total amount and send the total amount of financing is the ratio of 0.004, close to zero, this data at the end of the listed companies in the two cities.
Been misappropriating loss endless It is understood that BOE A recent private placement price of 2.4 yuan / share, than the lowest of the year is even lower than 10%, and if yesterday's closing price of 4.72 yuan terms, participation of additional persons is a large profit nearly doubled.
However, since the BOE A2008 investors in private placement is not such good luck this year, issuance of A shares in July after the lift, when its shares rose more than a maximum price of 5.47 yuan additional 6%, while If shareholders have a loss will reach nearly 14%.
To the end of 2008, BOE A, the total assets of only 13.9 billion, meaning that its total recycling refinancing a BOE A has more than enough. So, this part of the funds "circle" to have gone after the last? Caozhong Ming help to answer: "Basically, the huge loss the past two years all the money will ring to 'burn'."
The future will be refinancing BOE A's "loss" not only in the participation of additional shareholders, on its own, too. Information, are all of its TFT-three additional
LCD Projects. But the fact, so large-scale industrial upgrading and capacity expansion has not brought any way to improve company performance.
Money from capital markets, BOE A reliable are the promise of the future [link widoczny dla zalogowanych], which is expected to promise to not receive bank of unknown identity, which is why the industry has repeatedly recognized that the choice of Private Placement fund-raising reasons. Have friends in the stock it said, "At present, international
LCD panel Has been developed to the 10th generation line. A BOE have three generations to recover, do not know how many times the next but also additional, equity financing of the money you get so good? "
A
BOE seems this way, according to its recent announcement that it will invest in eighth-generation TFT-LCD line. Hai Tong Securities analyst Wang analysis, BOE A likely around 2011, again by way of private placement to raise funds for this project, and for the eighth line, or up to 300 billion c