2012年12月18日星期二

Harbin High-Tech right-hand man since increased profits inverted Pune Solar


Continuous hands, Pune equity

In the evening of December 7, Harbin High-Tech also announced an asset sale announcement and an investment announcement, while the its sell and buy assets involved in the same company.

Day, Harbin High-Tech with four companies signed a contract to sell a total of $ 2.61 million equity Pune Solar total transfer price of 89.55 million yuan.

At the same time, the puni solar After the announcement will be selling a stake in Pune Solar, that on the same day declared its readiness to Pune Solar replenishment of $ 8,000,000 (the day of the exchange rate, or about 49.85 million yuan) to buy its $ 3.75 million equity.

The equity a one, Harbin High-Tech Pune solar panel stake is almost no change. Before Harbin High-Tech holds a 31.2% stake in Pune Solar, after the capital increase its stake to 31.07%.

Harbin High-Tech earnings information Pune solar the main film solar cells, modules, with an annual output of the 3MW copper indium gallium selenide thin-film solar cells, modules R & D capital projects. In the first half of 2009-2012, the net profit of Pune Solar to -145.8 million, of -1257.6 million, 7.267 million yuan and 14.81 million yuan, since the establishment of accumulated net profit of 8.043 million yuan.

Why Harbin High-Tech to be so much ado, down the hand puni solar Option.?

On December 12, the financial weekly newspaper reporter calling as an investor in Kazakhstan Hi-Tech, secretaries Makumbi explained to reporters, the reason to sell stake in Pune Solar, in order to maintain the the Pune entrepreneurial core team controlling position.

Makumbi introduction, 2009, Harbin High-Tech and came back from the United States, Dr. Rong Yu Ping, Wang et al founded Pune Solar, in August of that year, the two sides signed an investment agreement, Harbin High-Tech 3 has to Pune Solar to invest $ 20 million. The previous two were to invest $ 6 million, $ 8 million investment last. Harbin High-Tech is the last capital increase.

"Once Harbin High-Tech capital increase will affect entrepreneurial team holding the status of the Ping Rong, Wang et al." Makumbi said Harbin High-Tech has been just invest in Pune solar venture identity, will not seek a controlling position, so you must sell part of the shares to capital.

Harbin High-Tech equity trading for the "left hand down the right hand is very familiar. Since 2010, three years Harbin High-Tech has four were sold to buy stake in Pune Solar.

WIND data show that, in December 2010, Harbin High-Tech $ 1.3 million equity sold to Huzhou City Donghu Industrial Company, the sale price equivalent to 45.474 million yuan year increase in its net profit of 36.7 million yuan.

March 2011 and October, Harbin High-Tech twice sale Pune of solar total of $ 1.3 million equity consideration of about 13.78 million yuan, the total income for the year increased by 72.68 million yuan.

The December 7, 4th Previously, Harbin High-Tech Pune shares sold at a time, will lower the price of a capital increase.

4 has a high price to take over Harbin High-Tech to sell stake in Pune Solar eight companies, seven from Zhejiang, Zhejiang Fortune (Beijing) Investment Fund Management Co., Ltd. equally Zhejiang background. However, little information about these took over the business. Money Weekly reporter access to the industrial and commercial information of Zhejiang, Hangzhou, Beijing and other regions found just a Hangzhou plus dry Industrial Investment Partnership (Limited Partnership) and Hangzhou Jianxiu investment management partnership enterprise (general partner) in Business Information.

Cover up 3 years of losses

However, the fact is that through "hands down" Kazakhstan Hi-Tech's performance will be rewritten.

The sale of Harbin High-Tech Pune solar cell equity book equity value of 25.07 million yuan, Upon completion of the transaction, net book equity value, the actual benefit to 64.48 million yuan.

Sell ​​assets of Harbin High-Tech this year, the only way to achieve profitability.

Makumbi December 12 to the financial weekly newspaper reporter, of Kazakhstan of Gaoke main industry and other business this year is difficult to contribute to company profits, "to rely on investment income.

Harbin High-Tech's main business is the soybean processing, mainly the production of various kinds of protein products, its total operating income ratio of 59.49%.

Although the market value of the company is only 20 million, involves a number of industries, in addition to the soybean processing, there are a number of bio-pharmaceutical enterprises and waterproofing membrane, while it is also a real estate company, a property management enterprise.

The main products as protein, but a very long period of time, within Harbin High-Tech are regarded as a real estate enterprise. Dream of its real estate began in August 2005. Wound, Harbin High-Tech to 30 million yuan of funds, access to Qingdao Harbor Real Estate Co., Ltd. 53% stake.

Harbin High-Tech to enter the field of industrial real estate for seven years, has been sluggish sales. 2005 have been built 17 industrial plants, 10 have been sold, the average selling price of 1,300 yuan / square meter, there are still seven unsold. It is reported that Qingdao Harbor Land Company Limited at a standstill, its operating income in the first half of this year, only 3.2385 million yuan.

According to the reported figures show that three quarters of 2012, Harbin High-Tech achieved operating income of 178.82 million yuan, the first three quarter net loss of 32.9998 million yuan.

Soybean processing business in the first half revenue 73,579,900 yuan, total operating income ratio of 59.49%, but profits accounted for only 0.12% of the gross profit margin as low as 0.03%.

Its net profit in 2009 - 2011 were -8377.07 million yuan, 13,701,100 yuan and 21.5009 million yuan. In 2010 and 2011, the Harbin High-Tech "hands down" Pune Solar equity, respectively, an increase of net profit of 36.7 million yuan and 72.68 million yuan. If the net sale Pune solar return on equity in this 3-year net profit -8377.07 million -2299.89 million and -5117.91 million, is the consecutive three years of losses.

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