Foshan Lighting (000541, closing at 16.52 yuan yesterday), which is known as the “golden stock†in the securities market, today dropped a big bomb on the market: due to the continuous decline of the stock market this year, the company’s short-term stock investment income and stock holdings in the first quarter The market fair value has a huge loss of more than 100 million yuan. Although the company's main business remained profitable in the first quarter, it still could not change the company's first quarter loss of 75 million yuan.
Ten years of gold stocks have become a thing of the past
Foshan Lighting, which was listed in 1993, has maintained stable performance and a high proportion of dividends for more than a decade, and has been hailed as a 10-year gold stock by the market. As a listed company engaged in energy-saving lighting, it is very rare to maintain such performance for more than ten years, so it has been widely recognized by the market and investors.
However, the macro environment of this year has also brought the company's operations into a difficult period. The company said in the notice that the company's production and operation conditions were normal from January to March this year, and its operating income increased by 15% compared with the same period of last year. However, due to factors such as rising raw materials, fuel, labor costs and RMB appreciation, the company's products export exchange losses and other factors, the main The profit of the business was reduced year on year.
On January 29 this year, the company announced the pre-increment announcement that the 2007 annual results will increase by 60%~85%. In less than three months, why has the company's performance changed a lot?
Big buy bank stocks buried hidden worries
Foshan Lighting's loss of 75 million yuan is not without any reason. In the first quarter results announcement, the company's short-term stock investment income and fair value change income in the first quarter suffered losses. It is estimated that the company's total loss in this quarter will be about 100 million yuan. It can be seen that the main source of Foshan Lighting's performance loss is its large loss in stock investment.
Since the annual report has not yet been published, the reporter can only look at some of the company's investment stocks from its three quarterly reports. According to the third quarterly report, Foshan Lighting invested a total of 230 million yuan in securities investment. The most held stocks were Ningbo Bank (002142), with a total investment of 61.68 million yuan, holding 2.21 million shares, and the cost was as high as 27.9 yuan / Stocks, and now Ningbo Bank's share price is only 13.9 yuan.
In addition to investing in Ningbo Bank, the company also invested in blue chip stocks such as Shenergy, Xinxing Casting, Huaxia Bank, China Construction Bank, Zhongyuan Expressway and China Shenhua. These stocks experienced a sharp decline in the first quarter of this year.
Performance is overly dependent on stock investment
According to public information, in the third quarter of last year, the company used a large amount of more than 2 billion yuan to buy large-cap blue-chip stocks such as banks. In the announcement of the annual report pre-announcement issued by the company on January 29, the company also suggested that 700 million yuan of idle funds should be used to participate in the subscription of new shares, and it has obtained a good investment income. The company's securities investment income accounts for a high proportion of the company's net profit. 60%.
However, since October last year, the stock market has experienced a continuous decline, the index fell as much as 46%, and individual stocks have also undergone a deep adjustment. Foshan Lighting relied on stock investment last year to make a fortune and become a history, with the index step by step. Falling, this gold stock with a glorious profit history of more than 10 years has even entered the ranks of loss-making companies, and it has to be embarrassing.
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