Category: Money Tips Date: 2006-09-11
Although there is no Baosteel, long electric kind of market influence, but Aetna Technology (000,969 market, information, advice, more) of the split share structure reform has been the market is still of great concern. Share reform process, the first time, the emergence of coalitions, so that Aetna Science and Technology feeling the pressure of shareholders and management, while also feeling out the market for the company's love and hope. As the new materials industry, leading enterprises, Aetna technology shares after the reform, whether made after the current performance of low prices of raw materials, giving investors more looking forward to it? 23% price increase on the previously announced Aetna share reform program of science and technology, after about one week of a wide range of communication, listening to the views of investors, based on the & M released the final share reform program of the price level from 10 to 10 get 2.6 shares of sending 3.2 shares, while the lower limit of reduction commitments from 6 yuan to 10 yuan, reflecting the holdings of investors in terms of little significance due to be abolished. Research & M reform program of the new shares, there are several innovative value of the attention: one, the price increased by 23%, sending the revised higher price for distribution to the shareholders for every 10 shares held by payment of the outstanding shares of 3.2 shares of non-tradable shareholders to pay a total of 3993.6 million shares. 10 shares with the previous program to send shares compared to 2.6, first of all is the price increased by 23%, stock price increase in the range of reform of the program has been published in the top; second, already announced by the central prices on the price of the program mostly in the 10 to send three below, New & M and the right price level of 10 sent to 3.2 shares, the new program not only higher than the average market price, but also in a more central enterprises is at a higher level; Finally, the new program of the Central African circulating shares sent rate of 20.73%, send rate of enterprises in the central announce the program at a higher level.
2, underweight on the basis of the price in the original by 70% in raising prices at the same time, the controlling shareholder of Iron and Steel Research Institute has also commitment to change as follows: "Since the date of the implementation of the reform program, its holdings of the original non-tradable shares in the 24 months, not traded or transferred; commitment expires, through the Stock Exchange to sell the original non-tradable shares, to sell shares of the total number of accounting for the proportion of 10 months does not exceed 10 percent, and the sale of the price of not less than 10.00 yuan per share. "Prior to this, the controlling shareholder commitment to reduction of the price of 6 yuan / share, the revised based on the reduction of prices in the former increased by 70%, which reflects the major shareholder of the company's future development confident.
The new materials industry leader & M grew out of the field strength of the domestic leader in new materials, Steel Research Institute, the company inherited Steel Institute General Hospital in metal materials of all the accomplishments, including research strength and its industry position in the new materials, and In particular, metallic materials of the highest levels of domestic research and technology levels are the strongest, is the field of new materials by doing my part of the leading companies. The company's current business areas, including super-hard refractory materials, functional materials, fine metal materials, biomedical materials and services in the field of metallurgical processing technology engineering five major sections.
Company's initial public offering to raise capital investment projects on schedule in 2004 have been completed, turned into a normal production and operation and operation have been set up in Yongfeng, airports, Changping, Hebei Zhuozhou formed four supporting facilities, research and development conditions for first-class and industrial environment, a good industrial base. With the IPO project of the continuous production, the company will fully enter the harvest period, all projects have been or are playing a role. (Technology of new materials giant, growth highlighted.) More market attention is that Aetna science and technology to the field of solar energy development. As early as November 2004, the company announcement Odersun company with the German solar cell R & D cooperation project signed a contract to get into the field of solar cells. Field of solar energy is an important area for future growth, but also in line with the strategic direction of the country Eleventh Five-Year plan, the company is in these ODERSUN signed with the German co-operation agreements and developing new thin-film solar cell is still in the process of implementation, the company for this ( will be) to provide new material, conditions are ripe, will be followed by industrialization. From the recent hot market, look at the concept of space, & M has also been given the color space, the company have been to the "Shenzhou V", "Shenzhou VI" of 15 species, nine kinds of high-tech key material.
Digestion of raw materials prices will usher in high-growth industry, a good layout and strategy for the future, so that Aetna technology is making determined efforts to meet the big stage of development. But the sharp price rise of raw materials, or hit the company's look at waist. Aetna technology products the prices of major raw materials used to go in 2004, following up to a higher price and then entered since 2005, still continued to rise, in which the individual materials such as tungsten or alarming, this rising trend continued in April of this year, After entering in April, prices have come down. Sudden price increases the company's products created a great impact on profit margins led directly to a decline in gross margins.
& M first quarter of 2005 Quarterly Bulletin showed that despite the company's main business revenue to maintain growth momentum, up 19%;, but net profit fell 34% from a year earlier, gross margin fell to 15%, but this situation is reversed, the latest The three quarterly show, the company has from the beginning of decline in gross margin trends, rose to 16%, close to 2004 levels of 17%. We believe that once a company to resolve the short-term costs of adverse factors, 06,07 Annual inevitable rapid growth.
Meanwhile, the company executives of the firm to increase its stake rather the value of our attention. First half of 2005 giving the president & M, director Zhao Shiqian and two supervisors, Chief Engineer, Deputy General Manager, Vice President and Treasurer responsible persons in the eight executives were using its own funds in the secondary market to buy their own company shares, a total of 13.06 million shares. This overweight behavior, indicating that the company management's confidence in the future.
