The Shares Of Lex Were Dragged Behind By The Loss Of The Parent Company.

Long term losses caused the company's undistributed profits to remain at a negative level until the Weng brothers of the Sha Sha group began preparing for the backdoor listing in 2006, and the company's performance began to turn losses into profits.

However, after the backdoor listing of the group, although the company reversed the dilemma of loss, the company continued the tradition of no dividend.

According to a reporter's investigation, whether it was the Changjiang holding company before the backdoor in 2007, or the rensha group's renamed after the shell, it had been in the market for 19 years, and the company never paid dividends. Even the plan to pfer shares has never appeared on the company.

For long term dividends, the small shareholders said "no hope for dividends".

Analysts said that the company's e-commerce project strategy is advancing continuously, and the long-term asset injection is expected in the medium to long term.

After the introduction of relevant policies to encourage cash dividends, many listed companies actively share dividends with shareholders, leaving the nickname of "iron chicken".

However, there are also exceptions, for example, after leaving the shell, the company has always maintained the tradition of "iron chicken".

Looking back at Changsha holdings, the predecessor of the company, it is clear that since its listing in 1998, the main business has been losing money due to the rapid increase in costs due to the prohibition of natural forests.

At the same time, due to the characteristics of oversupply in cement market and the spread of plastic bags, the sales market of paper bags has been extremely atrophied, and prices have been declining. Therefore, the main business of paper companies began to lose in 1999.

By sorting out the flush statistics, the reporter found that the gross profit of paper main business between 2000 and 2005 was negative except for 2003.

In addition, the net profits attributable to parent owners in 1999, 2001, 2002, 2004 and 2005 were all negative.

Long term losses caused the company's undistributed profits to remain at a negative level until the Weng brothers of the Sha Sha group began preparing for the backdoor listing in 2006, and the company's performance began to turn losses into profits.

However, after the backdoor listing of the group, although the company reversed the dilemma of loss, the company continued the tradition of no dividend.

Reporters collate flush statistics found that the undistributed profit of the shares of ralsha shares has been negative until 2012 until positive.

Statistics show that the undistributed profits of the company from 2012 to 2014 were 1 million 387 thousand and 700 yuan, 9 million 560 thousand and 600 yuan and 11 million 519 thousand and 300 yuan respectively.

However, in the three years from 2012 to 2014, the undistributed profit of the shares was positive, but the company did not pay dividends on the basis of the undistributed profit of the parent company.

The insider of the company has publicly explained to the media in 2014 that after the company's backdoor listing, its parent company left a loss of 160 million yuan, and the profit distribution was based on the distributive profit of the parent company.

The company said that the company will start processing related subsidiary companies' dividends in 2014. It is estimated that the distributive profits of the parent company will no longer be negative in 2015, and can meet cash dividends.

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The annual report from 2012 to 2015 showed that the undistributed profit of the parent company in 2014 was -1.6 billion yuan, and by 2015, the undistributed profit of the parent company of the company has been reduced to -6085.29 million yuan.

The reporter understands that many listed companies are attributable to the parent company when the undistributed profit is positive.

According to the relevant personnel of a listed company, although the consolidated statement of listed companies shows that the company's undistributed profit is positive, the parent company is losing money. If the company fails to make up for the loss, it can not pay dividends.

According to the 2015 annual report, the company's net profit of 99 million 552 thousand and 400 yuan in 2015 was realized.

Unfortunately, the undistributed profit of the parent company is still negative.

The company also said in its 2015 annual report that no cash dividends would be paid, nor would the fund be converted into additional capital stock.

In this regard,

The company did not expect corporate dividends.

It is worth noting that in the case of never paid dividends, the money was not forgotten. In 2007 and 2009, the two private placement was implemented and the total amount of funds raised was about 300 million yuan.

If we say that the reason why the shares of Bona's share can not be paid is due to the drag on the parent company, the first loss in 2015 is even more worrying about the sustainability of the company's future business.

In 2015, the company realized its operating income of 205 million yuan, and its operating cost was 180 million yuan, down 37.94% and 37.22% from the previous year, respectively.

As a result of reduced revenues, sales and administrative expenses fell by 54.85% and 21.96% respectively compared with the previous year. Similarly, R & D spending fell 38.04% over the same period last year.

In 2015, the net profit attributable to shareholders of listed companies was -2068.31 million, representing a 1155.97% decrease over the same period last year, the company said.

The reason for the company's explanation is that "the company's provision for depreciation in 2015 and the impairment of intangible assets are expected to affect the company's profit attributable to shareholders of listed companies by 2500.82 yuan in 2015."

In fact, the loss of the company in 2015 was one or two.

Flush statistics show that the performance of the company has declined for five consecutive years, and the net profit of the company from 2011 to 2014 declined by 19.95%, 70.11%, 21.16% and 76.03% respectively.

By 2015, the company had lost its performance directly from performance to performance loss.

In the annual report, the reasons for the decline in performance in the past three years are mainly the overcapacity of the industry, the continuous downturn of the market, and the severe external environment of fierce competition.

In order to turn around, the company tried to pform itself through private placement, but failed.

Changjiang Securities Industry Researcher Lei Yu analysis, in the early stage of terminal sales sluggish background, the company actively optimize the channel, digest high priced inventory, the current inventory size has dropped to low, the company's performance is expected to reverse.

At this stage, the company's e-commerce project strategy continues to advance and strategic pformation of the Internet culture industry, backed by large groups, easy to achieve business synergy, in the medium to long term, still assets injection is expected.

A quarterly report showed that the company's operating income in the first quarter of 2016 was 39 million 153 thousand and 600 yuan, an increase of 23.61% over the same period last year. The net profit attributable to shareholders of listed companies was 3 million 559 thousand and 200 yuan, an increase of 757.09% compared with the same period last year, and the basic earnings per share were 0.037 yuan.

It is noteworthy that purple light Group Co., Ltd. (hereinafter referred to as: purple light group) bought shares in the first quarter, and at the end of 3, it was the second largest shareholder of the company with 4.04% stake.

The announcement shows that as at the end of 3 2016, the total number of shareholders of the company was 12778, of which 3 million 925 thousand and 160 shares were owned by purple light group, accounting for 4.04% of the total share capital of the company, ranking the second largest shareholder of the company.

Some market participants reckon that purple light group has not yet appeared in the list of the top ten shareholders of the company by the end of 2015.

With the weighted average price of 27.841 yuan per share in the first quarter of the group, the purchase cost of Purple Light Group Co., Ltd. is about 109 million yuan.

Analysts believe that in recent years, the capital operation of purple light is frequent. It is not ruled out that more projects need capital platform in the future. At present, the reserves are initially set up for future needs.

According to public information, Zeng Guang Group Limited purchased 8 million 50 thousand shares of *ST from another listed company in January this year, and accounted for 5.08% of its total share capital in 27.

According to a quarterly report released by *ST in 2016, as of the end of 3, purple light group limited increased its holdings to 12 million 295 thousand and 100 shares, with a shareholding ratio of 7.76%, which is also the second largest shareholder of the company.