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Debt issuance is not a change in the silicon ring share a strong push

    As prices come down significantly, the silicon in the A-share market has been the subject of glory, is gradually losing the luster. At many companies choose to wait and see when the plan just before withdrawal of additional shares in Central suddenly choose borrow $ 600 million into the original issuance ratchet tie dowm of the planned "green renewable energy with the single crystal silicon solar cell materials, industrial engineering two and two expansion projects "on.

    Loans to the controlling shareholder

    In the current monetary tightening, booster cables a listed company announcements related to credit issues can be seen everywhere, but the Central share of this disclosure today announced it is a bit different, cause for concern not because the loan amount, but the money is used.

    Central shares disclosed,battery clip December 7 directors meeting adopted the "apply to the construction of the Central Bank group entrusted loans of motion." Corporation said the industry's rapid development requires the injection of funds, while banks tightening, interest rate usually for the same period the base rate, so the development of the China Construction Bank Tianjin Branch of the Central Group, commissioned by the controlling shareholder loans 600 million, interest rate 6.89 % for a period of three years for the company's subsidiary, Central Solar Materials Co., Ltd. Inner Mongolia "green renewable energy solar cell silicon materials industry,tow rope with the second phase and the two expansion projects" (hereinafter referred to two project).

    For a lot of careful investors, the Central share of this debt of two 600 million construction project seemed familiar. In fact, in January this year an additional plans have been announced, was to be not less than 23.91 yuan / share issue price of 60 million shares to 10,000 shares, and raise 24 billion, part of the funds is used today announced the two projects.

    However, the company's share price kept falling and other reasons, the Central share last November 21 in the recent announcement that, due to significant changes in the operating environment, with the sponsor on November 4 were submitted to the China Securities Regulatory Commission "About the year 2011 the withdrawal of non-public offering application documents to consult," and in later approved.

    Investment firm silicon

    As everyone knows, China's photovoltaic industry is in an unprecedented winter season, silicon industry downturn will be imagined. The first three quarters of this year, although the Central share of the performance is still beautiful, about 215 million yuan of net profit rose a staggering 337.23%, while full-year net profit is expected to grow 80% to 130%, but many in the industry have expressed a concern. Outspoken said on livelihood security, the Central share will be lower than expected performance.

    Minsheng Securities said: 125 the third quarter dropped by 30% monocrystalline silicon, polycrystalline silicon over the same period fell 15%, the Central share of silicon accounted for 50% of revenue, the dramatic fall in prices will inevitably affect the performance of the company. And the company stock rose sharply in the third quarter inventory 705 million yuan, an increase of 78%. Taking into account the PV market downturn this year, Minsheng Securities also cut its profit forecast shares in the ring.

    Zhuo record information to provide the data also show that, in the Central share released in January this year, additional investment plan, the 125 is still the price of silicon cells each $ 2.95 / piece - $ 3.45 / piece between the price of the recent has dropped to $ 1.15 / piece to 1.9 U.S. dollars / piece.

    It should be noted that, in general this year, the PV industry downturn, many companies have chosen to cut or stop production to deal with the crisis. The Central share is not a turn to debt issuance firm investment behavior is indeed somewhat surprising. However, the Central share or obtain a controlling shareholder of the recent generous holdings. Central Group, said recently, as the controlling shareholder of the company's rapid and steady development and investment in the future value of confidence in the next 12 months, the company's total equity holdings do not exceed 2% of the shares.

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