Nanfang Pick Up Hat For Half A Year And Lose More Than Seventy Million

< p style= "text-align: center" > img border= "0" alt= "align=" center "src=" /uploadimages/201310/21/20131021024939_sj.JPG "/" < < > >

Less than half a year, just to pick up the hat, in order to turn around the losses, < a href= "http://sjfzxm.com/news/index_c.asp" > Nanfang shares < /a > at P spoil the shell again.

However, to this day, Nanfang Textile Co., whose main business is not strong, has reported losses again in the first half of this year, and the company has to turn to the controlling shareholder's assistance in order to turn around the losses. It bought a 51% stake in the Nan Taiguo exhibition that had been sold twice for 434 million yuan.

Some analysts believe that the company's current business situation is poor, and can only rely on the sale of assets to protect the shell.

< /p >

< p > < strong > hat removed half a year again heavy loss < /strong > < /p >

< p > it is noteworthy that although Nanfang shares lost their cap in 2012 this year, the performance of the company in 2013 is still not satisfactory.

< /p >

< p > according to the results disclosed by Nanfang stock in 2013, the net profit attributable to shareholders of listed companies was 44 million 699 thousand and 500 yuan in the first quarter, while the net profit loss attributable to shareholders of Listed Companies in the first half of the company was expanded to 70 million 146 thousand yuan.

< /p >

< p > Nanfang shares explained the loss reason. "The main reason for the loss in the first half of this year is that the losses of Limited by Share Ltd in the first half of this year increased significantly, affecting the company's investment income of -5504.88 million yuan."

< /p >

< p > announcement shows that Limited by Share Ltd, a joint venture company, lost 263 million yuan in the first half of this year, expanding by more than 200% over the same period last year.

But strangely enough, the Limited by Share Ltd of the long poetry group also realized a net profit of 429 million yuan in 2012. Who thought, only half a year, the company's net profit actually reduced by nearly 700 million yuan.

< /p >

< p > not only that, but the loss of Nanfang shares is also related to its financial cost of over 100 million yuan.

Reporters found that the financial cost of over 100 million yuan mainly includes interest expense of 115 million yuan.

Data show that in the first half of this year, the company's short-term borrowing amounted to 956 million yuan, notes payable amounted to 431 million yuan and accounts payable amounted to 540 million yuan.

In fact, in recent years, Nb's assets and liabilities ratio has remained high.

From 2010 to 2012, the company's asset liability ratio was 92.39%, 95% and 91.48% respectively.

Until the first half of 2013, the company's asset liability ratio did not decline, but rose to 94.02% again.

< /p >

< p > reporter found that the reason for the loss of the company is also related to the main business.

According to the company's daily report, the two main businesses of import and export sales and domestic sales are meager profits.

Among them, the gross profit margin of import and export business in the first half of 2013 was only 2.9%, which was 0.92% lower than that of the previous year, while the domestic sales rate was the lowest in the first half of 2013, reaching only 1.22%, a decrease of 0.45% over the previous year.

< /p >

< p > analysis shows that the basic aspects of Nanfang share are mainly "a target=" _blank "href=" http://www.91se91.com/ "textile" /a "and foreign trade. These two pieces must be bad now.

In addition, there are several relatively large problems that have dragged down the company's performance: first, the southern Thailand exhibition has invested a lot of money, but it does not make money; two, there is a large number of accounts receivable and there is a great possibility that it can not be recovered; three, because of the old state-owned enterprises, the pension of workers is a great burden to the company.

< /p >

< p > < strong > three selling South Thailand exhibition < /strong > /p >

< p > to avoid another delisting crisis, Nanfang shares sell assets again to try to turn around.

< /p >

< p > according to the major asset sale plan disclosed by Nanfang shares in August 12th, Nanfang shares intends to pfer to the major shareholder business travel group a 51% stake in the southern Thailand exhibition, with a pferable price of 434 million yuan.

< /p >

< p > in fact, since last year, Nanfang shares have been auctioning the shares of Nanjing Nantai International Exhibition Center Limited.

But the two auction ended up being filming.

Previously, the a href= "http://sjfzxm.com/news/index_f.asp" > South Thailand exhibition < /a > 100% had been listed for auction at the price of 910 million yuan and 850 million yuan, but in the end it was filming.

< /p >

After "P", Nanfang shares decided to adjust the sale plan of major assets.

At the same time, Refco Group Ltd, a controlling shareholder of Nanjing's commercial and tourism development, is unable to undertake all the shareholding in southern Thailand because of its limited financial strength, so it finally decided to buy only 51% of the shares.

< /p >

< p > from the 2012 annual report of the company, we can see that the registered capital of the southern Thailand exhibition is 507 million yuan, the total assets are 697 million yuan, the net assets are 638 million yuan, and the net profit is 424 thousand and 400 yuan.

But the company's net profit in the first half of this year actually lost 5 million 993 thousand yuan.

It has to be said that the commercial travel group took over the stake in the southern Thai national exhibition.

< /p >

< p > some analysts believe that if the company's asset sale is successful, the company's performance this year is likely to be profitable.

But what's worrying is that it is not advisable for companies to repeatedly make profits by selling assets.

This one-time income is difficult to reflect the company's ability to continue operation in the future.

< /p >