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The Shuanghui secretaries to respond to inject assets shrink in the fourth quarter fund holdings of 2634 shares

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The Shuanghui secretaries to respond to inject assets shrink in the fourth quarter fund holdings of 2634 shares Summary:

Check out the latest market Hiu Ching Core Tip: "Shuanghui development assets into payment of the price reduced by 18%, a decrease more than expected." an analyst at Ping An Securities (Confucius News)] with respect. "Shuanghui development

Check out the latest market

Hiu Ching

Core Tip: "Shuanghui development assets into payment of the price reduced by 18%, a decrease more than expected." an analyst at Ping An Securities (Confucius News)] with respect.

"Shuanghui development assets into payment of the price reduced by 18%, a decrease more than expected." Ping An Securities analyst] respect. February 16, 2009, assets restructuring plan twists and turns of Shuanghui Development (000895.SZ) released new "asset appraisal report, update the related matters of significant asset restructuring. Meanwhile, the company also slightly into the assets and issued shares made an adjustment, and disclosure of profit forecasts for 2012-2014 of the assets to be injected.

However, compared with the previously announced program with the Central United Assets Appraisal Group Limited the Shineway development planning to issue stock purchase Rotary Vortex Ltd., held by the Luohe Shuanghui Industry Group Co., Ltd. 29 equity interests in subsidiaries under asset revaluation after the result was far beyond the market accidents. set of

Shuanghui Group and Rotary Vortex assets to be injected into the assessed value of less asset evaluation was 24.7 billion yuan, a decrease of 18% compared with the previous 30.2 billion yuan. company assets into payment reductions on the price is much higher than our previous 10% of expected. "the documents said. Shuanghui development secretaries Qiyong Yao

day, in an interview with this reporter admits, "intends to inject assets decline in profitability is the main reason for the assessed value has shrunk dramatically using the income approach and basis for the asset revaluation of overall assessment, and ultimately, asset appraisal firms decided to selection of the Income Approach as a result of the final assessment. "

"the results of the assessment of the income approach is closely related to the continued profitability and inject assets and the assets to be injected into the assessment base date selected in the following the events of August 31. In fact, 3 15 CL after the event, the production company to combat and is more serious and therefore the performance decline is inevitable. "Qiyong Yao said.

announcement, the company will set out the assets valued by 1.664 billion yuan to 1.458 billion yuan; Shuanghui Group plans to inject assets valued by 31.552 billion yuan was adjusted to 25.377 billion yuan; Rotary Vortex to be injected into the assets valued by the 9.63 one hundred million yuan to 741 million yuan.

"because this is modified under the same premise of a major asset restructuring the overall program, without the shareholders meeting after the announcement after the company further added SFC feedback can be reported to the reorganization of the issuance examination committee of the SFC audit . Qi Yongyao said.

latest fund position change Shuanghui development were underweight at the end of the fourth quarter of 2011, the Fund as a whole. Final positions from the end of the third quarter of last years 134 million shares to 108 million shares, holdings of 2634.09 million shares.

to be injected into the performance of assets diving The development of the

Shuanghui the day of the year 2012 disclosed pro forma combined profit forecast, compared with the previously results predict 2011 assets to be injected into the profitability decline over half of the above.

Shuanghui development in the first assets to be injected into analog consolidated profit forecast report referred to 2011 as a whole, is expected to achieve total revenue, operating costs, operating profit of 30 billion yuan, 25.625 billion yuan, 3.072 billion yuan; completion of the total profit, net profit and net profit attributable to shareholders amounted to 3.176 billion yuan, 2.543 billion yuan and 2.4 billion yuan.

However, the latest earnings data, as of the end of 2011, although then the total achieved operating income of 35.23 billion yuan, basically flat with 35.127 billion yuan in 2010, exceeding initial projections. Total operating costs up to 33.599 billion yuan, compared with 31.207 billion yuan in 2010, operating costs, a sharp rise of 2.392 billion yuan.

thus, resulting in full year operating profit declined sharply from 3.946 billion yuan in 2010 to 1.654 billion yuan in 2011 to plunge 2.292 billion yuan, a decline of up to 58.08%; total profit in 2010 of 4.088 billion yuan has fallen sharply substantial reduction in 2011 of 1.837 billion yuan, 2.251 billion yuan, reduce the proportion of over half, up 55.06 percent.

At the same time, the year the net profit and net profit attributable to the parent shareholders both fell, fell to 1.448 billion yuan in 2011, respectively, from 2010 to 3.277 billion yuan, 2.946 billion yuan, 1.348 billion yuan, down 1.829 billion yuan and 1.598 billion yuan, a decline of up to 55.81% and 54.24% respectively.

Similarly, Shuanghui Development above the initial forecast of 2011 earnings data compared to net profit and net profit belongs to the shareholders of the parent intends to inject assets actually completed in 2011 and much higher standards, before and after, respectively, a difference of 10.95 billion yuan and 1.052 billion yuan, both drop as much as 75.62% and 78.04%.

affected portion is intended to inject assets in the asset revaluation has shrunk dramatically. If the main business of pig slaughtering, meat processing, Mianyang Shuanghui, the revaluation of the assessed value has shrunk dramatically over one billion yuan is huge, and rapidly dropped to the revaluation 2.37 billion from 3.423 billion yuan for the first time assessed yuan, has shrunk to 1.053 billion yuan.

In addition, the view from the 2012 full-year profit forecast, although compared with 2011 has increased dramatically, but still not fully recovered. The Shineway development is expected to 2012 realized a total profit, net profit and the shareholders of the parent net profit of 3.944 billion yuan, 3.116 billion yuan and 2.948 billion yuan, less the full year 2010 data.

However, the literature suggests that the companys 2012 pro forma earnings forecasts are more conservative. General reorganization plan pro forma guarantee performance, such as below this level to be done to shareholders of earnings compensation "may be in order to correspond to the performance commitments in earnings in the compensation agreement."

the fourth quarter of fund holdings of 2634 shares

"lean" event the the Shineway development expected in 2011 attributable to shareholders of listed companies net profit for-profit 550 million yuan -59 000 million, a decrease of 49.17% -52.62% over the same period last year. Resulting Shuanghui Development Fund is still a net reduction. The latest positions

reporter investigative bodies found, the end of the fourth quarter of last year, the number of holds Shuanghui development agencies from the end of the third quarter of last years 64 to 81, but overall float is never the end of the third quarter of 134 million The shares fell to 108 million shares, for a total reduction of 2634.09 million shares.

top ten shareholders of circulation of the three QFII Merrill Lynch International, Yale University, Citigroup Global Markets Limited and the National Social Security Fund 102 combination of institutions, such as appeared in the company in last years third quarter in the fourth quarter, the full reduction The Shineway development. Previously, the bodies in the third quarter last year, holding 9,153,385 shares, 5,604,863 shares, 4,591,380 shares, 7.8 million shares

Qiyong Yao said institutions bifurcation is normal. company can not say the impact has been completely eliminated, but from the results of the trough out of production and sales have been restored to the incident level before. "

Shuanghui development assets to be injected into the unaudited operating data September 2011 to December, results of operations have resumed their growth. Only in the fourth quarter of last year, the consolidated assets, respectively, to achieve the operating profit, gross profit and net profit, belongs to the shareholders of the parent net profit of 967 million yuan, 1.058 billion yuan, 847 million yuan and 792 million yuan have been over before August last year, the business indicators.

position changes from the fund last years fourth quarter also showed that the differences institutions Shuanghui development investment.

newspaper reporter noted that the addition to the three QFII and social security funds across the board retreat in the top ten shareholders in the company, the only Xingquan trend Investment Fund (LOF) and Harvest Strategic Growth Fund is still in place. However, two funds also were underweight, the end of the period were reduced to 11,836,698 shares and 5,054,875 shares, accounting for the circulation of A-share ratio fell to 1.95 percent from 2.31 percent at the end of the third quarter of last year and 1.07% and 0.83%. At the end of the fourth quarter of last year, the the Xingquan Funds fund holdings from the end of the third quarter of 28,760,922 shares to 21,746,845 shares, the overall holdings of 7,014,077 shares.

but optimistic about the the Shineway development fund is overweight. GF Jufu, Southern blue-chip growth, Bank of Communications Schroder robust fund big holdings Shuanghui development shares ending holdings were 4,258,066 shares, 4,057,673 shares, 3,475,320 shares. Among them, the Southern blue-chip growth for the fourth quarter of New Jiancang; TEDA Manulifes fund holdings were ending positions increased to 11,340,547 shares, holdings of 1,576,642 shares.

this, Qiyong Yao told reporters that the eyes of the beholder, the wise see wisdom. Institutional holdings, and institutions in holdings. The day before the announcement, the company is also working with institutional investors communicate. From the current situation of communication, most institutions optimistic about the companys future development prospects.

Qiyong Yao also said that the downward valuation of assets, the shareholders of the circulation are more advantages than disadvantages. Reduced to the largest shareholder to buy shares, reducing the share dilution. "

announcement, after deducting dividends the Shineway development of the offering price and the convertible price will be 51.94 yuan / share adjustment is 50.44 yuan / share. Shuanghui Group number of shares outstanding from 574,000,000 shares adjusted to 474 million shares, the number of shares issued to the Rotary Vortex by the adjustment of 1832 shares to 1469 shares, than the original plans to issue shares to a total reduction of 1.0363 million shares .

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