Management fees rose 51% BOE huge loss 749 million yuan for half a year – BOE, L
,
BOE
A publishing semiannual reports. In the first half loss of 749 million yuan, in line with expectations.
Net profit fell 248.41%
Administrative expenses increased 51.27%
Due during the reporting period, the completion of substantial additional 120 million BOE A, the total assets of 13.94 billion yuan by the end of 2008 jumped up to 26.03 billion yuan, compared with the end of 2008 rose 86.78 percent. Net assets per share of 2.05 yuan, 1.81 yuan higher than the end of 2008, up 13.26%.
Not surprisingly, however, the sharp decline in net profit, reported first half net profit to -7.49 million of 504 million yuan over the same period fell 248.41 percent. Earnings per share -0.18 yuan, 0.18 yuan higher than the same period last year dropped a full 200%. Return on net assets during the first half was -4.41%, down 14.45 percent.
BOE said that by shrinking market demand and prices fell sharply the impact of company products production and sales and operating income over last year has decreased substantially, first half operating income of about 2.3 billion, there is a greater loss of business ; from the April start, the market is stabilizing, prices have rebounded to positive cash flow started.
However, in the reporting period, the BOE A management fee of five hundred and nineteen million yuan over the same period rose 51.27%. BOE believes that this is mainly affected by
Financial
Crisis and TFT-
LCD
Industry volatility, will be suspended starting rate is less than the provision for depreciation of equipment, power management fee and other related costs are included in the cost; the same time during the reporting period due to the increase of the company's R & D investment. By the financial costs of 12.68 million in mid-2008 rose to 63.28 million yuan mid-year, up 399.05 percent year on year, the company that this is mainly due to the U.S. dollar and Japanese yen exchange rate fluctuations, the company reported foreign exchange gains during the period a year earlier, substantially reduced .
Huge fund-raising has been gradually toward the use
6 months, the BOE raised A total amount of 12 billion yuan to complete private placement, as Shanghai and Shenzhen since 2009, the largest re-financing and fund-raising, and therefore onto the cusp itself. And the funds raised will be invested in Hefei, capital increase BOE Optoelectronics Technology Co., Ltd., for the construction of section 6 on behalf of the thin film transistor liquid crystal display (TFT-LCD) production line, as well as additional liquidity.
According to semiannual reports show, Hefei 6 Line project started in April 13, currently works infrastructure, the main project is expected to cap the year, fourth quarter 2010 production.
In section 6 on behalf of the thin film transistor liquid crystal display (TFT-LCD) production line, the company will allocate 10.7 billion yuan, according to semiannual reports, the current amount of actual investment 460 million yuan.
The reporting period two of a change in the original fund-raising, namely, large-size TFT-LCD color filter (CF) production line project and to repay bank loans capital increase BOE Optoelectronics ("BOE Optoelectronics replenishment of the loan repayment program "). After the change corresponds to the project were the fifth generation thin film photovoltaic BOE transistor liquid crystal display (TFT-LCD) production line expansion project into the second replenishment of 677 million yuan, 126 million there to add liquidity.
WIND IT show, closing on August 15 a total of four bodies on the BOE A2009 annual performance forecast, on average forecast net profit of -1.1 billion, the average forecast diluted earnings per share -0.0133 yuan (up to 0.0362 yuan, Minimum -0.0937 dollars). This means that, at least the second half of BOE A profit of 600 million.
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