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The Trend Of Financial Management Of Listed Companies Is Deviant

2011/6/18 11:18:00 43

Financial Management Of Listed Companies "Deviant"

(reporter Xu Lan)

Listed company

Empathy investment finance seems to be becoming a trend. More than 20 listed companies, including [34.00 -0.93%, have started investing in finance this year, ranging from tens of millions to billions of dollars.

It is beyond reproach for the listed companies to use idle funds flexibly. However, more and more companies have a tendency to invest too much and violate the use of funds.

Statistics show that the investment types of listed companies vary, covering banks and

Trust financing

Products, money market funds, new shares, equity investments, etc., from 2 months to 2 years of different length of investment.

From the perspective of investment income, most companies seem to have small profits.

For example, in September last year, Xin Li Tai bought a "Hui Yi Da 1" pegged exchange rate financial product and redeemed it in December last year, making a total profit of 374 thousand yuan. This year, the company again sold 70 million of this product in March, and redeemed it in May 4th, and accumulated a total profit of 470 thousand yuan.

Financial trust business has even become the main source of profits for some listed companies.

The [11.70 -2.17% shares of Jingwei Textile Machinery Co., Ltd. achieved a profit of 599 million yuan in]2010, of which the Sino fusion International Trust brought a profit of up to 501 million.

But some companies are too obsessed with investing in financial matters or let analysts worry about it.

Take the [16.88 -0.35% share of trillion Chi, for example, the company purchased two financial products in March and April this year, using funds of 120 million yuan and 380 million yuan, accounting for 36% and 80% of the company's own funds at that time.

At the same time, the company's performance was not excellent. In the first quarter of this year, net profit was only 66 million 339 thousand yuan, an increase of 2.49% over the same period.

According to statistics, the financial products currently on sale or for sale are expected to be annualized.

Rate of return

Less than 5% is achieved, and most of the product returns are between 3%~5%, and only the expected rate of return.

Over the past year, the actual yield of some financial products is sometimes not as good as bank deposits or even losses.

Analysts said that for some of the larger investment companies, once the investment market volatility, the impact on the company's performance is bound to be greater.

Take Jingwei Textile machinery as an example, in May this year, the banking regulatory authorities immediately stopped the rumors of real estate trust business, which triggered a sharp fall in the stock market.

It is worth noticing that the investment and financing of listed companies are more and more "deviant" trend.

Such as Shenzhen Hui Cheng [16.41 -1.85% shares] recently disclosed that the main body of its investment and investment projects implemented illegal use of investment fund 452 million, five times to buy financial products, a total of 1 million 5 thousand and 900 yuan interest.

And conch cement [25.11 0.60% shares] recently announced a 4 billion yuan financial plan, but the company just issued debt financing in May only 9 billion 500 million yuan.

These are just the tip of the iceberg. There are people in the industry who are worried that when China's monetary policy is tightening up, the possibility of "grey" credit of banks and other credit institutions is increasing. In the face of private lending with annualized interest rates as high as 50%~100%, the listed companies will have great risks if they are secretly involved.