Silicone product price increase


Xin'an annual net profit doubled


Xinan Shares (600586) issued a pre-announcement announcement. The company expects net profit of 1.22 billion yuan to 1.3 billion yuan in 2018, an increase of 129% to 144% year-on-year; net profit after deduction is 1.219 billion yuan to 1.299 billion yuan, an increase of 522% to 563%. In the first three quarters of 2018, the price of silicones, the company's leading products, increased significantly compared with the same period of the previous year. The price of products in the fourth quarter tended to stabilize.


In fact, after six to seven years of overcapacity and low prices in the industry, the silicone industry finally ushered in a new boom in 2017. During this period, some excess capacity gradually withdrew, and the number of silicone monomer producers decreased from 15 in 2011 to only 12. As a result, the performance of Xin'an shares, which accounted for 84% of the silicone business, also experienced explosive growth. The net profit of the returning mothers in 2017 and the third quarter of 2018 increased by 586.87% and 403.19% respectively, an impressive increase. The data shows that the third quarter of 2018 has reached the peak of earnings in the past eight years. However, it is worth noting that in the fourth quarter of 2018, the price of silicones began to drop from the highest point.


Guotai Junan intends to dispose of Jia Yueting pledge shares


Or lead to its passive reduction of LeTV's over 30 million shares


LeTV (300104) issued another announcement, there are not many accidents, this time is not good news. Yesterday evening, it announced that on September 19, 2018, the company disclosed that Guotai Junan had a centralized bidding transaction through the judicial saleable frozen secondary market within 90 natural days from September 13, 2018, and disposed of Jiayueting's pledge of the underlying securities shares. As of the close of December 26, 2018, Guotai Junan had a total of 6,611,100 shares of LeTV.com due to the breach of contract by Jia Yueting.


On January 14, 2019, LeTV.com received a letter of notification from Guotai Junan. Guotai Junan intends to use the judicial saleable frozen secondary market centralized bidding transaction within 90 natural days from December 27, 2018 to dispose of the target securities pledged by Jia Yueting. Shares, the number of shares disposed of shall be subject to the final disposal result. Guotai Junan’s possible default disposal may result in Jia Yueting’s passive reduction of the company’s stock of 33,378,900 shares and its shareholding ratio decreased by 0.8367%.


Jia Yueting still holds a lot of LeTV shares in the hands? Statistics show that as of January 14, 2019, LeTV's controlling shareholder Jia Yueting holds 9625.90555 million shares of the company, accounting for 24.1285% of the total share capital, of which 8655.577 million shares Has been pledged, accounting for 21.6962% of the company's total share capital; 96,255,545,500 shares were frozen by the Beijing Third Intermediate People's Court and other judicial organs, the freezing time is three years from the date of freezing; the company shares held by them are all waiting for the freeze The waiting period for the freeze is 36 months. In addition, according to the information of the company, LeTV Holdings currently has more than 200 legal proceedings.


Yuanzu shares are going to be listed for sale in Taipei Real Estate


Buy 9-year evaluation value only increased by 10%


Yuanzu shares (603886) announced in the evening yesterday that the company intends to use the valuation value to publicly sell the property held by the property rights trading institution, holding the holding company Sun Yat-sen, located at No. 139, Xing Ai Road, Neihu District, Taipei City. The listing price is not lower than the evaluation value. The property evaluation value of this evaluation scope is NT$423,268,940 (calculated according to the central parity price of NT$4.4722:1 for NTD on December 17, 2018, which is RMB94,642,935). Taiwan Yuanzu purchased the above property in January 2010 for NT$380 million.


The "Investment Express" reporter roughly estimated that the company purchased 380 million yuan in NT in January 2010, and the evaluation price has risen to around NT$420 million. If the company has already sold the property at an appraisal price, the investment will be profitable by NT$40 million, equivalent to less than RMB 10 million. In the nine years, the evaluation value only increased by 10%, and the average annual increase rate slightly exceeded 1%.


In addition, according to the company's third quarterly report on October 28, Yuanzu shares realized operating income of 1.632 billion yuan in the first three quarters of 2018, an increase of 16.47% year-on-year; net profit of 247 million yuan, an increase of 25.55%. Earnings per share of 1.03 yuan.


Difficulty in cash flow


Jinhong Holdings' medium-term notes were not paid on time and in full


Cash flow is limited and liabilities are accumulated too high. Yesterday evening, Jinhong Holdings (000669) issued a notice saying that due to difficulties in capital turnover, the company issued “China Petroleum Jinhong Energy Investment Co., Ltd. 2016 First Phase Medium Term Notes” (bond short name: 16 Zhongyou Jinhong MTN001) The total amount of the above-mentioned notes issued is 800 million yuan. The company will continue to work hard to raise the principal and interest of the bonds through various channels and pay the investors the principal and interest of the medium-term notes as soon as possible.


According to statistics, the overall growth of Jinhong Holdings' revenue and net profit from 2013 to 2017 was 1.24 times and -0.26 times respectively. As of the end of the third quarter of 2018, Jinhong’s total liabilities of 7.927 billion were 3.465 billion, which was about three times that of current assets of 1.45 billion. Not only that, the company's non-current liabilities due within one year reached 745 million, but at the end of the period, the company's book currency funds were only 133 million yuan, and the pressure on debt repayment was huge.


However, Jinhong Holdings is not the only company that announced the announcement last night that it can't afford the money. The same as the A-share listed company's Kang Dexin (002450) announcement, the company's 2018 first-phase ultra-short-term financing bonds (bond short name: 18 Kangde new SCP001, bond code: 011800757) should be paid on January 15, 2019. . As of the end of business on January 15, 2019, the company failed to raise sufficient funds in accordance with the agreement. “18 Kangde New SCP001” could not repay the principal and interest on time, which constituted a substantial breach of contract.