Tianshan Textile: The Most Valuable Non Loss Company

Let's let the textile industry slump.

The textile industry has improved since the beginning of this year, although the textile industry has improved, but its competitiveness is still not strong, and the insider trading of executives and the unclear prospects of mining are also a shadow of the company's future growth.

Guo Du securities textile analyst Li Yun told investors newspaper that the competitiveness of Tianshan textile and textile industry is not strong, and it has been losing money for several consecutive years. There are few bright spots. The industry is good this year, and net profit has increased by more than 40%. But with the price of raw materials rising, the pressure on the future will increase.

Zhao Weiguo, a representative of Tianshan textile and securities business, also said that the development of the textile industry was not good enough last year, but the situation has improved. However, it will be subject to internal and external conditions in the future. The profits of the textile industry will be relatively thin, and how it is not expected.

In the textile industry struggling, Tianshan textile began to take the road of reorganization. In July 22, 2009, the company's largest shareholder, the Xinjiang Uygur Autonomous Region state owned assets investment and Operation Co., Ltd., planned to restructure the company. The company began to suspend trading since July 23, 2009. As of July 9, 2010, Katie investment limited liability company of Xinjiang (hereinafter referred to as "Katie investment") has held 2.06 shares of the company, accounting for 56.78% of the total share capital of the company, and become the controlling shareholder of the company.

However, during the major asset restructuring of Tianshan textile company, Katie, general manager of the restructuring party, general manager Yao Rongjiang, and Cao Ge, deputy general manager of the company, were suspected of insider trading and disclosure of insider information.

The final outcome of this matter needs to be judged by the SFC.

Zhao Weiguo, a representative of Tianshan textile and securities affairs, told reporters that the final result of the reorganization is still being reported to the SFC for approval, and no relevant notice has been received.

As for the impact of insider trading on asset restructuring approval, it is not convenient to comment.

Li Yun analysts believe that insider trading will make some obstacles to asset restructuring, but there is a need to solve and deal with it.

If punishment is directed against individuals and the company is not punished, it should be said that it will not affect too much.

If the reorganization plan can be completed, Tianshan textile will hold 75% of the west mining industry and become a non-ferrous mining enterprise.

The restructuring leader is a wholly owned subsidiary of Xinjiang state owned financial company, Xinjiang Financial Investment Co., Ltd., and the latter offspring company, Xinjiang Katie investment limited liability company (Katie investment), Xinjiang Katie mining investment Limited by Share Ltd (Katie mining).

Another party concerned is Xinjiang Xi Tuo Mining Co., Ltd. (Xi Tuo mining), which owns 73.41 square kilometers of copper polymetallic exploration rights in Hami loess slope mining area.

The final plan of the reorganization is determined by Tianshan textile to buy 50% and 25% of the equity assets of Katie mining and Qinghai snow chi (controller Jing Yu) in a non-public way.

According to 5.66 yuan per share, 81 million 980 thousand shares and 40 million 990 thousand shares were issued separately to Katie and Qinghai, respectively, to buy 75% stake of the West Mining Co., Ltd., held by Katie investment.

Tianshan textile was pformed into mining enterprises.

However, in December 2009, Tianshan textile announced its self-examination report, indicating that after Katie bought some of his staff members to buy and sell stocks, the market questioned the use of insider information in Tianshan textile reorganization.

From the time of mining right, from the prospecting right to the mining right, the copper zinc deposit in the loess slope mining area in Hami, Xinjiang has increased by nearly 500 times in 5 years.

However, the database of the Ministry of land and resources shows that its mining license is valid for only one year.

Tianshan textile and securities affairs representative Zhao Weiguo told the investor newspaper that the validity period of mining rights is a year's renewal. The mining rights issuing unit of Hami loess slope copper and zinc mine is the office of the Xinjiang Uygur Autonomous Region land and resources. Renewal is certainly no problem. It only requires a very low cost of work. As for how many years to continue, it depends on the exploitation of mineral resources.

The bulletin shows that 2010 and 2011 of the No. 1 ore section of the Loess Slope in Hami City, Xinjiang are mine construction period, and do not generate profits. In 2012, the 75% stake of Tianshan textile holding Xi Tuo mining was put into operation, and the profits of mining areas in 2012, 2013 and 2014 three were attributable to the profits of listed companies for 53 million 258 thousand yuan, 70 million 118 thousand yuan and 70 million 118 thousand yuan respectively.

In June 30, 2009, the opening price of Tianshan textile was still around 4 yuan per share.

Affected by the restructuring plan, after the opening of July 2nd this year, the price of Tianshan textile continued to "one" limit.

Among them, the highest price reached 17.68 yuan in September 1st this year.