Dragon photoelectric fire 8 Warning Bulletin imminent delisting edge

Polaris solar PV net news: intensified three quarterly losses, Jiangsu Hua Sheng Tian long opto-electronic equipment limited (hereinafter referred to as “Dragon photoelectric”) is a delisting deadline looming. Reporter statistics found that from August 22 to October 17, the Denon optical 8 suspension of the listing alert bulletins are released.

Edge of the imminent delisting

Judging from the 8 Warning Bulletin, Dragon photoelectric position words of optimism. As reported in a year when the company projected January 2014-September net profit attributable to shareholders of listed companies lost $ 37 million-42 million Yuan, down by 7%-22%. The reason for the change in performance, Dragon photoelectric once explained, is because of the industry downturn, the company sells a collapse in new orders, idle reduction disposal has not been fully put in place in the third quarter, second half of company stock with turnover.

Shortly thereafter, however, on a-share listed companies as we enter the 2014 disclose third quarter results, Dragon photoelectric has released a revised results announcement showing its third quarterly net profit attributable to shareholders of listed companies lost $ 60 million-65 million dollars.

Due to Dragon photoelectric 2012, 2013 results had two consecutive years of losses, given that the company’s performance in 2014 continued to lose money, then may 2014 annual report the company’s stock was suspended after listing. Because, according to the GEM listing rules of Shenzhen Stock Exchange (updated in 2012) stipulates that listed companies will experience the last three years of losses, Shenzhen Stock Exchange, may decide to suspend the listing of its shares. Needs to be emphasized is that different from the motherboard, the platelet, gem companies if losses in a row for 3 years, no ST as “probation”, but will direct suspension of the listing.

Worth noting is that from 2009 to date, gem not any one company has been subjected to delisting, now delisted edge of Tianlong photovoltaic market focus.

Shares fell 284.9%

According to senior securities analyst Jiang introduced Dragon photoelectric was with “China’s first photovoltaic device brand” aura, landed on December 25, 2009, gem, gem had just opened for two months.

Listed four days later, Dragon photoelectric below their IPO price of 30 yuan per share, rose shock after, on February 23, 2011 at 38.49 dollars/share after the record high, Dragon photoelectric parted ways with the GEM stocks, start way down journeys. Quarter ended September 9 suspension ahead of the company’s share price has fallen 284.9%, for 10 Yuan/share.

Dragon optical way down for days, Chiang blamed the downturn in the photovoltaic industry. 2010 and 2011 global manufacturing capacity for two consecutive years the effects of irrational expansion, PV industry in 2012, serious deviation between supply and demand, overcapacity and under the dual pressure of the global economic downturn, the PV industry entered a downturn. As Dragon photoelectric of PV equipment supplier, huge receivables, as well as a large number of inventory build-up pressure profits began to decline. In 2012, the Denon optical revenues down 79.09%, loss of 511 million dollars in net profit, which once won the a-share market “losses.”

Of course, with the exception of industry meet resistance outside, Dragon photoelectric appeared related to today’s situation and the management. Financial commentators Song Qinghui said single product is the main reason Dragon photoelectric high inventory and losses caused, and new product research and development limited contribution to performance, which is suspending lies at the root of the crisis facing the company.

Recombinant defeated shell

In order to improve their performance and achieve profitability, Dragon photoelectric business really made a lot of efforts in recent years, but the results have not always satisfactory, therefore, to introduce strategic investors to restructure the remaining lifeline.

On September 9 this year, Dragon photoelectric start business planning matters, Noah’s founding shareholders want natural, Changzhou, its controlling shareholder through a capital increase and share expansion introduction of new strategic investors, so as to further optimize the corporate governance structure of Changzhou Noah, for Dragon photoelectric seeking new development opportunities. As of October 17, the company remains in a suspended state, the announcement said both sides on major issues is still in the negotiation stage.

On matters of this success, many investors expressed worries about. Because, there were two major Dragon photoelectric demise as a precedent. June 3, 2013 up, days Dragon photoelectric suspension planning acquisition Dalian Citylink 100% equity of major assets restructuring matters, but 23 days Hou, due to took long and conditions not mature, causes, the matters was terminated; March 3, 2014, days Dragon photoelectric again suspension planning holding shareholders equity transfer matters, transfer opponents party for a PV industry downstream enterprise, but 3 months Hou, the matters due to both on transfer price failed to reached consistent and died.

Today, Dragon photoelectric had gone on brink of delisting, if you cannot successfully complete the restructuring by the end, it may be difficult to get rid of delisting of doom. And once the gem appeared the first delisted company, are sure to stir investors blindly participate in the gem to sound an alarm, curb market for poor-performance unit of gem of excessive speculation.

Original title: Dragon photoelectric fire 8 Warning Bulletin imminent delisting edge

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