Yueyang Paper Double Bombshell Mu Forest
Appear in the market, Yueyang Paper Inc
Appear in the market, Yueyang Paper Inc. is not the greatest value of paper-making links, but it may have existing and future forest resources. Yueyang Paper in full through the placement of shares and fund-raising to further penetrate the upper part of the ambition and the market also looking forward to the time of the rejection of a paper Hunan SASAC and the personnel changes approved notice from heaven, the air was suddenly filled with hesitation and confusion.
11 17, Yueyang Paper announcement disclosure of Yueyang Paper to be re-by RO Financing The problem, Hunan SASAC "seriously studied, decided not to agree on the Yueyang Paper behavior by issuing new shares issued by way of placing state-owned shares Management Reply. "
The previous September 18, Yueyang Paper announced the allotment of programs, plans a total capital base of 435 million shares for the placing of three shares per 10 shares financing. Placement of shares acquired by the funds raised will be used to hold the Hunan Tiger Forest & Paper Pulp & Paper Co., Ltd. Chun-tai (the "Chun-Thai Company") 100% stake in Thai company continued construction Huaihua replenishment project Chun, added Huaihua project liquidity and the acquisition of not less than 60 mu of forest land.
Allotment program has caused the company's value changes by
In voting with their feet in the secondary market, this sensitive information had earlier response, and on October 10 hit the highest price of 44.85 yuan, compared Yueyang Paper's stock price almost "cut." Letter in the country Securities Shi-new paper industry, chief analyst view, "allotment was not a sudden incident led to firm value changes."
In fact, on Sept. 18 announced the placement of shares and fund-raising toward the program and its critically acclaimed. The reason, it represents a sudden Yueyang Paper continue the lucrative upstream?? Forest resources. Six Categories of Yueyang Paper hesitate to praise at this time, described it as "paper aristocracy", "upper reaches of the classic?? Thick on the outside, inside and wide."
Before the accident, K Lee has put new varieties of Yueyang Paper Co. as a devaluation, in his view, Yueyang Paper "First, by virtue of expected enhanced profitability, the second is the expected rapid earnings growth. This link is absolute links in the paper can not be reached, Yueyang Paper has actually been committed to forest - pulp - paper industry chain and long-term supply of forest areas, that is the real value of paper is paper valuation growth between nobility. "
"We have not as Yueyang Paper is paper-making enterprises, but see it as resource-based enterprises. Papermaking industry, after all, the industry will return to normal profit levels, while the upper reaches of the forest resources and they can continue to enlarge bring in huge profits. "a Fund Analyst told Money Weekly reporter, "company chairman Wang Xiang saw a few years ago the valuable forest resources, and begin to guide the company towards this direction. As long as the ownership of forest resources, even if the direct sales of wood can also get 50% of net profit, while paper industry to 20% gross profit margin to even pretty good. "
According to Shi-new calculations, if the allotment project financing and successful completion of the acquisition, then the Yueyang Paper's own from the current 106 million mu of forest land to expand to at least 226 acres, supporting forestry projects to be completed base will reach at least 376 mu, that is, in most can increase the value of Yueyang Paper forestry business, Yueyang Paper is expected to expand the size of more than 2.5 times. "Meanwhile, the chemical coniferous pulp project profitability was significantly stronger than paper, the value of the company not only in the short term, therefore there will be a jump, the long-term growth trend has been further strengthened."
High-level changes shake the foundation for development of forestry resources
Overall financing options in placement of shares was not the same time, the controlling shareholder TIGER high-level major changes have taken place, which makes the prospect of Yueyang Paper has become more complicated and confusing.
11 17, Yueyang Paper announcement said: Hunan SASAC, "TIGER relieved of Comrade Xiang Wang, chairman and party secretary, not nominated as a candidate for chairman of Yueyang Paper," "Comrade Wu Jialin Ren Thailand Green Paper Chairman (legal representative), nominated for Yueyang Paper (legal representative) candidates; proud of Comrade Lin Yang, vice president candidate for the Tiger Forest & Paper.
Yueyang Paper Double Bombshell Mu Forest
By: erenber
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