2018 is A buy recombine the market one year sadder, because all sorts of buys behavior generation sequela of dart of before a few years of hurricane are exposed in succession,come out, business praise decrease impawn of value, stock to explode the case such as the storehouse appears time and again, left the market a lot of bitter lessons.
In failure in buying an item, smooth old negotiable securities (601788) with windstorm science and technology (300431) those who run cross condition buy an item eye-catching all the more. Because imagine very hard, as certificate business " celebrity " smooth old negotiable securities can commit so big mistake, brought almost to the net gain 2018 " disaster " . Suffer outstanding achievement to be amended downward considerably, near future of smooth old negotiable securities still received those who hand in place to superintend case.
Why smooth old negotiable securities invests 70 million yuan, plan carry 1.4 billion yuan to reduce a cost? How is the hole of this backside formed after all? Compensate of smooth old negotiable securities capital for many times plan carry reduce a cost, be to wish to bet admit defeat or have facts one wishes to hide additionally? What enlightenment to bring to financial orgnaization?
Successive 3 plan carry reduce a cost, net profit decreases even more beforehand 9 into
On January 25, 2019, asset of exposure of smooth old negotiable securities reduces a cost preparation is second reading, to individual 2018 finance asset plan carried the preparation that reduce a cost, add up to 553 million yuan.
In an instant a month arrived on Feburary 25, dip Xin fund invests deadline at the expiration of one's term of office to expire, fail to be exited by original plan implementation, this days old negotiable securities is right this project plan carried 60 million yuan of preparation that reduce a cost.
Because smooth old negotiable securities is wholy-owned in this project subsidiary light is big capital and light are big dip brightness always invests 71.75 million yuan, among them what for light big sth used to one's own advantage regards the class after bad as 60 million yuan copartner is contributive, plan carried 60 million yuan to decrease the class after be worth even if doing bad to invest the plan that does not want.
But the thing is done not have so simple, on March 19 evening, smooth old negotiable securities releases announcement to say again, this second plan carry predict to be in debt reach asset to decrease a value to prepare to add up to reduce 2018 year of company amalgamative profit total makes an appointment with 1.521 billion yuan, reduce amalgamative net profit to make an appointment with 1.141 billion yuan.
Specific in light of, 2018 year draft smooth old negotiable securities plan carry predict 1.4 billion yuan to be in debt, receive money plan to carry asset to decrease a value to prepare 121 million yuan to corresponding equity invests and answering, already surpassed a company 10% of profit of net of audit of 2017 year classics.
Suffer plan carry the influence that reduce a cost, smooth old negotiable securities falls considerably repair 2018 year outstanding achievement, predict 244 million yuan to amalgamative net profit was year 2018, relatively decreased 2017 92.2% ; 2018 year vest in appears on the market the net gain of company shareholder is 103 million yuan about, decrease compared to the same period 96.6% , certificate business was earned 2018 also is hard cash, but decrease decrease again, net profit has chopped calcaneal.
Because of balance complemental obligation is forced " reveal all the details " , already caused superintendency attention
Origin even from the brushstroke 3 years ago overseas investment calculates case, 2016 is domestic sth used to one's own advantage marchs one year abroad in a large-scale. Smooth big sth used to one's own advantage combined windstorm group to create dip Xin fund.
Eliminate windstorm group and smooth big sth used to one's own advantage beyond, dip Xin fund still gathered to include to enrol business fortune, love to build fiducial wait for orgnaization of 14 famous finance and company investor, capital collect dimensions exceeds 5.2 billion yuan. Buy company of the MPS outside the condition the equity of 65% .
Dip Xin fund in 5.2 billion yuan fund dimensions, the fortune that enrol business serves as the biggest partner contributive 2.8 billion yuan, oppose a scale 53.82% , love is built fiducial also invest 400 million yuan, oppose a scale 7.69% .
Among them smooth big sth used to one's own advantage is mixed directly indirect investment is total 71.75 million yuan, because light is big capital has 60 million yuan is copartner of the class after serving as bad is contributive, because this serves as the copartner after the bad of this second investment, should issue for copartner of two first step at the same time " balance is complemental case " , when main content is exited to cannot come true in first step copartner, assume corresponding balance by smooth big sth used to one's own advantage complemental obligation, it is this correspondence brought about this finally to be in debt in great quantities plan carry.
Because smooth old negotiable securities is indebted plan carry, outstanding achievement falls considerably long still caused superintendency attention, in handing in a place to superintend case, old to light negotiable securities raises 4 requirements: Light of the comprehensive early days that check is big dip brightness sets fund to invest the item such as item loss external, take effective measures to dissolve relevant risk, comprehensive check oneself create this second investment accuse to manage inside losing blemish and depend on lawfully compasses the accountant processing that has made this item.
Smooth old negotiable securities " wish to bet admit defeat " , at present progress and lesson
Because of the investment of 60 million, potential risk n is as high as 1.4 billion yuan actually, indirect lever is as high as 20 times above, match than the stock endowment lever is tall still, even more exciting than gamble.
According to understanding of GPLP rhinoceros finance and economics, balance is complemental and compulsory, also call balance to pay obligation, concern to assure creditor's rights debt, when the agreement did not fulfil obligation by the agreement when debtor or money can't pay, by debtor or the 3rd person assumes complemental obligation by the agreement to balance part.
Balance is complemental it is the common provision in fund of illicit collect equity, it is the yield that will ensure illicit collect fund as the measure that add a letter commonly, but qualitative to its controversy is taller in practice.
Smooth old negotiable securities now plan carry decrease a value to whether be represented already " buy leave a hand surely, wish to bet admit defeat " ?
Public figure of group of a lawyer expresses, balance is complemental it is effective generally speaking, can hold the right according to consultative agreement, but whether true compensation reachs the designated position, see difference even the ability of complemental obligor, although win the lawsuit,appear likely also finally but the circumstance that does not have complemental ability.
Up to now, copartner of two first step enrols dip Xin fund business fortune, love builds a group to waited to did not undertake to this item the risk hints.
Another " fellow sufferers " windstorm group has closed project plan to carry to photograph of dip Xin fund decrease was worth long-term equity to invest to prepare 48 million yuan 142 million yuan with bad Zhang.
Windstorm group is more unhappy, the outstanding achievement that releases according to windstorm group is premonitory, predict deficit came 925 million yuan 920 million yuan 2018, since this is equivalent to windstorm group appearing on the market 3 times of profit total.
From the point of the history, bankrupt financial firm is to seek high income commonly, assumed high risk, cause loss of a huge sum finally. Also the tall lever sex as a result of financial industry, once appear,caused a lot of companies deficit, more than deficient smooth net assets, make negative capital even.
So, what financial orgnaization must want to notice when investment is, balanced point is gained in risk and accrual.
Because finance and economics of this GPLP rhinoceros thinks to want to note the following problem:
One, scale is configured in asset, on the consideration with risk and bit more balanced accrual, besides wanting to consider the market of instantly to change, the circumstance that should appear possibly to future more undertakes beforehand appraise, change a method through a few risks, carry the risk in controallable inside limits.
2, this smooth old negotiable securities invests MPS, to be being invested in beforehand the company did not accomplish thorough investigation, tall lever invested the company of high risk high income, this ability can appear this is planted now result, future accomplishs thorough investigation to be being wanted to do one's best by investment firm, want to consider company business advances what lead to the high level to count level especially.
3, in cross a state on major investment project, want to consider the impact that brings on time of local policy impact and investment process around and space in detail.
The essence of investment controls a venture namely, control the venture only, the opportunity that makes money on the market always is some.
