Thirty-six Suites for sale for 18 million yuan! Relieving Performance Pressure of Listed Companies

category:Finance
 Thirty-six Suites for sale for 18 million yuan! Relieving Performance Pressure of Listed Companies


The company said that if all transactions are completed at the transfer base price, it is expected that the total revenue of the company will increase by about 13.866 million yuan (without considering transaction taxes and fees).

The profit from selling houses exceeded last years net profit.

The announcement shows that the main source of the 36 flats to be sold by Minfeng Special Paper is residential buildings, with an area of 2374.56 square meters (including 325.8 square meters of garage), with an average area of 65.96 square meters per unit. The above property is located in Yinliufang District, Sanshuiwan, Jiaxing City. Established in 1999, it is a semi-enclosed residential district of ordinary commercial housing, about 4 kilometers away from the center of Jiaxing City, with complete supporting facilities.

Photo Source: Photograph Network (Graphic and Textual Independence)

For the reasons for the sale, Minfeng Special Paper said that the sale of the above idle assets, can effectively revitalize the companys stock assets, better play to the efficiency of the use of funds and increase the companys earnings, in line with the interests of all shareholders of the company.

Daily economic journalists note that although the total price of the sale of real estate does not exceed 20 million yuan, it is a huge profit for Minfeng Special Paper, which is under great pressure on its recent performance.

The announcement shows that if all the assets to be sold are traded at the transfer base price, it is expected to increase the earnings of Minfeng Special Paper by 138.66 million yuan (without considering transaction taxes and fees), accounting for 138.33% of the net profits of the shareholders of listed companies audited in the latest accounting year (2018).

According to the data, Minfeng Special Paper is mainly engaged in the manufacture and sale of paper and paper products; the design, manufacture, installation, maintenance and technical services of paper-making equipment; and the manufacture and processing of mechanical accessories. In 2018, Minfeng Special Paper realized business income of 1.518 billion yuan, down 5.7% year on year, and realized net profit of 10.224 million yuan, down 47.81% year on year. In the first quarter of 2019, Minfeng Special Papers net profit was 174.98 million yuan, down 73.59%. Non-net profit deducted was only 572,300 yuan, down 91.42% year on year.

In the quarterly report of 2019, the company further pointed out that the price of the companys main raw material wood pulp is expected to rise compared with the same period last year, and the overall capacity of competitors has increased, and the market supply has increased accordingly. The companys leading product, such as Grassin paper, will sell at a lower price than the same period last year. Accordingly, it is predicted that the cumulative net profit of the company from the beginning of the year to the end of the next reporting period will be significantly reduced compared with the same period last year.

Its not the first time to invigorate blood in selling houses

Daily Economic Journalist noted that in November 2018, due to the participation of Zhejiang Paradise Silicon Valley Asset Management Group Co., Ltd. in the concept of venture capital, Minfeng Special Paper was once sought after by hot money, with nine ups and downs in 11 trading days, and the stock price reached a peak of 10.47 yuan at one time. However, the companys share price continued to decline due to the slump in its main business, closing at 5.88 yuan on June 12.

This year, Minfeng Special Paper has more than once benefited from real estate. Previously, due to the planning arrangement of urban construction in Jiaxing City, some urban infrastructure such as Dongta Road and its eastern area along Minfeng Metallurgical Zone were planned to be rebuilt. Because some of the buildings owned are within the scope of construction, Minfeng Special Paper signed an agreement with Jiaxing Housing Collection Service Center. The total amount of compensation for the subject matter collected by the company is 8.3256 million yuan. Minfeng Special Paper expects that the compensation will increase the companys overall revenue by about 5.6 million yuan.

It is worth mentioning that in 2019, after 33 listed companies increased their income by selling houses in 2018, there were still many such phenomena. The most famous one is * ST hippocampus (000572, SZ). * ST Hippocampus issued two announcements between April and May, stating that the company intends to sell a total of 401 apartments in Haikou and Shanghai.

Yan Yuejin, director of research at the think tank center of Yiju Research Institute, told reporters that housing prices are relatively stable at present, creating space for listed companies to sell their houses to make up for their performance. On the other hand, under the general direction of housing does not speculate, there may be some risks in the future when listed companies hold a large number of residential real estate, such as the increase of taxes and fees, which will affect the liquidity of real estate. I think follow-up listed companies will focus on commercial and office projects, residential property will be further reduced. He said.

Photo Source: Photograph Network (Graphic and Textual Independence)

Reporters noted that the last time listed companies sold houses appeared on May 24, Jiaotong University Angli (600530, SH) announced that in order to revitalize the companys assets and so on, the company plans to transfer 63 sets of shops with 286933 million yuan. According to the Annual Report of 2018 issued by Angli Jiaotong University in April this year, the company realized 249 million yuan in revenue last year, a decrease of 7.75% compared with the same period last year, a loss of 506 million yuan and a decrease of 41.52% in net profit over the same period last year.

Source: Liable Editor of Daily Economic News: Liu Song_NBJ9949