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In The First Half Of, Securities Investment Fell By Nearly 2 Billion.

2010/8/31 15:19:00 58

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As a typical representative of the A share market, "no honest work".

Youngor

(600177.SH) today's semi annual report shows that net profit has fallen by 59% over the same period last year, while the securities investment business that once brought huge revenues to the company has lost nearly 2 billion yuan.

Net profit 580 million yuan down 59%

During the reporting period, YOUNGOR reported operating income of 5 billion 352 million yuan, down 6.87% from the same period last year, and realized a total profit of 881 million yuan, down 47.99% from 1 billion 695 million yuan in the same period last year, while the net profit attributable to shareholders of listed companies was 580 million yuan, a decline of 59% over the same period last year.

The basic earnings per share were 0.26 yuan.

YOUNGOR said the year-on-year decline in net profit was due to fluctuations in the capital market.

Real estate industry

During the reporting period, the reduction of the proceeds from the sale of financial assets and the reduction in the amount of settlement of the real estate business were compared with the previous year.

In fact, compared with the income of its industry, reporters found that YOUNGOR's traditional main garment and textile industry still achieved a positive growth in operating revenue in the first half of the year, of which garment business revenue grew 5.55% in the first half year, and textile business income increased by 1.51% over the same period last year.

Of course, operating costs have also risen.

But the real estate industry is very painful for YOUNGOR.

Semi annual report shows that by the national real estate industry regulation and control measures, the first half of YOUNGOR's real estate development and sales revenue fell 29.49%.

Portfolio investment

Floating deficit near 2 billion

YOUNGOR is also a brilliant tool, securities investment business in the first half of the same fold.

Semi annual report shows that YOUNGOR's first half of this year's securities investment business loss of up to 1 billion 978 million yuan.

As of June 30, 2010, YOUNGOR held a total of 16 listed companies' equity (for sale of financial assets), the semi annual report showed.

Among them, holding shares of 002103.SZ shares reached 14.95% of all shares of the company.

However, due to the slumping of the A share market in the first half of this year, these shares did not bring YOUNGOR "once brilliant", but a loss of up to 1 billion 978 million yuan.

Of the 16 (for sale) stocks invested by YOUNGOR, only three in the first half of the year brought YOUNGOR float.

Among them, 002036.SZ brings 428 thousand and 500 yuan, 000980.SZ and 600875.SH bring 5 million 30 thousand yuan and 5 million 240 thousand yuan respectively.

But limited floatation can not change the pattern of overall floating loss.

Take CITIC Securities (11.69, -0.23, -1.93%) (600030.SH) as an example, the stock that had brought huge profits to YOUNGOR suffered from Waterloo's share price in the first half of this year, making YOUNGOR float up to 1 billion 118 million yuan.

The initial loss of shares (600376.SH) also amounted to up to 117 million yuan.

YOUNGOR semi annual report shows that as of June 30th, the shares held in the first half of the year still total losses of up to 1 billion 978 million yuan.