Yi Shi Da Investment Projects Dragged On And Dragged Down By Pollution From Partners.

< p > Listing 3 years or less a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107105" > Yi Shi Da < /a > besides the change of performance and stock price, the core recruitment project of the company at the time of IPO has been dragged on, and has not yet achieved the expected benefit.

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The reason why "P" is so, or has been dragged down by the unsettled pollution problem of the India Cements Limited of the Hubei century new peak, Lei Shan India Cements Limited (hereinafter referred to as "new century peak"), and when Yi Shi Da was listed, it was not disclosed in the prospectus that the new century peak was polluted by the local villagers.

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< p > IPO raise investment project dragged on "/p >"

< p > 2010, Yi Shi Da, who landed on the growth enterprise market, raised 825 million yuan of funds, of which more than 600 million yuan was raised.

In the year of listing, Yi Shi Da achieved a net profit of 66 million 168 thousand yuan, an increase of 73.60% over the year before 2009.

Unfortunately, Yi Shi Da's performance was not as good as a year later.

In 2011 and 2012, the net profit of Yi Shi Da was 51 million 790 thousand and 600 yuan and 14 million 343 thousand and 900 yuan respectively, down 21.73% and 72.30% respectively.

By the middle of 2013, the net profit of Yi Shi Da was 12 million 314 thousand and 400 yuan, down 33.32% from the same period last year.

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< p > the stock market is also losing its strength.

As of October 11th, the closing price of Yi Shi Da after the resumption of power was 28.18 yuan / share, compared with the 55 yuan / share issue price at the time of listing.

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Less than P, it is worth noting that Yi Shi Da's IPO core investment project has been dragging its feet and failed to achieve its expected revenue. This will be one of the reasons for the downturn in the company's listing.

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< p > public information shows that Yi Shi Da's < a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107107" > IPO < /a > recruitment projects are supplementary company working capital, Yi Shida Technology Park R & D center project and Hubei century new peak Lei Shan India Cements Limited contract energy management project (hereinafter referred to as "century new peak contract project").

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< p > according to the prospectus, the construction period of the century new peak contract project is one year, and the project reported in the 2010 annual report is scheduled to be used for June 1, 2011. In the middle of 2011, the company postponed the project construction until September 1, 2011. The 1# line and the 2# line of the new century peak contract project were basically completed. The company is preparing for the commissioning and networking.

By the end of 2011, the company postponed the project construction until April 30, 2012, and said that all the 2 projects were equipped with grid connected generation conditions. The owners and item company were handling the grid connection procedures and solving the problem of cooling water shortage caused by continuous rainfall in Ezhou, Hubei.

At the end of 2012, the company extended the new century peak contract project to January 1, 2013, and failed to achieve any benefit in the reporting period.

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< p > by 2013, Hubei Yi Shi Da, the main body of the contract for the implementation of the new century peak project, was simply cancelled, while the original assets of Hubei Yi Shi Da were absorbed and merged by Yi Shida's wholly-owned subsidiary, Shandong Shi Da.

In the first half of 2013, the investment progress of the new century peak contract project was 94.23%, and not yet fully completed. The first half of the year achieved a profit of 1 million 850 thousand and 200 yuan, and the distance between the 37 million 357 thousand and 500 yuan business income and the 13 million 517 thousand and 600 yuan net profit annual benefit calculated in the prospectus seems to be very long.

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< p > pollution caused by partner pollution? < /p >

< p > New Century peak is supervised by environmental protection bureau, < /p >.

< p > so-called causality. The new century peak contract project is the core recruitment project of Yi Shi Da IPO. It has been dragged on for many years, or is dragged down by the pollution problem of the partner's new century peak.

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< p > according to the data of Ezhou Environmental Protection Bureau, the pollution problem existed in the cement production in the new century peak. It happened in Hongqiao village in 2007. Therefore, Ezhou Environmental Protection Bureau carried out investigation, handling, and supervision.

In July 2012, the Hubei provincial environmental protection department again received the reflection of villagers in Hongqiao village. The Ezhou Environmental Protection Bureau organized the City Supervision Detachment on-site supervision personnel to go to the scene for investigation and treatment.

According to the investigation, when the new century peak was built in the construction project of the 4000t/d dry rotary kiln production line, the government of the city of Hubei promised to remove the residents within the health protection distance. The EIA report of the project also requested this item, but it has not yet been implemented.

The yellow village of Hongqiao village has a distance of 200 meters from the northwest factory boundary. The health protection distance has not reached the EIA requirement. The production of unorganized dust from the enterprise has a real impact on the living environment of the villagers.

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< p > by the end of 2012, the dust pollution problem of new century peak was supervised by the Ezhou Environmental Protection Bureau, and it was required to be completed before June 30, 2013.

Up to the middle of 2013, although the dust noise pollution control of the Xinfeng peak was basically completed, the relocation was slow.

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< p > investors said that the contract for the new century peak project was built on the basis of the new century cement production line. The pollution problem based on the new century peak has been long-standing, and has been repeatedly complained by local villagers. Therefore, the new century peak contract project has not seen any benefit, or is being dragged down by the pollution problem of the new century peak.

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What P needs to point out is that when it was listed, Yi Shi Da did not disclose the pollution of the new century peak in the prospectus.

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< p > October 11th, the reporter contacted Yi Shi Da on the above issues. A staff member said that before the cooperation with the new century peak, the documents such as project approval and environmental impact assessment were complete, which belonged to normal investment, while the delay in construction period was affected by civil engineering or other factors. Moreover, the current a href= "http://news.sjfzxm.com/news/list.aspx Classid=101112107108" > cement market < /a > is not as good as before, and can not start at full load, thereby affecting the yield of the company.

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