New hope you really use A-shares as an ATM?Your revenue in 2 years is more than 267 billion, the loss is 11 billion in 2 years, and the financing is 16 billion in 2 yearsWith such a big revenue, isn't there a little profit?I've been making money for a few years, but the money is goneThis time, a refinancing of 73500 million yuan, the intraday stock price is approaching the fall limit, why doesn't the market buy it, what is the future of new hope, and when will the pig cycle come?Let's talk about itLet's talk about this financing first, this time it is issued to a specific object, and the specific object does not exceed 35 specific investors who meet the conditions of the Securities Regulatory Commission, including *** company, ** company, foreign-funded institutions, trust companies, etc., and the *** of this financing issuance is not less than 80% of the average trading price of the company in the 20 trading days before the pricing benchmark date!
New Hope announced that this financing is mainly used for 3 things, 1 is the biosecurity prevention and control of pig farms and digital intelligence upgrades, about 3.6 billion funds will be used, the second thing is to acquire part of the equity of the holding subsidiary, 1.5 billion yuan is needed, and the third thing is 2.2 billion funds to repay bank debts!New Hope also answered why it costs 3.6 billion yuan to upgrade digital intelligence, 1 is the support of the national industrial policy for the pig breeding industry, and the first document in 2023 points out that "strengthen the construction of food emergency security capacity." Strengthen the supervision of reserves and purchase and sales. The province is responsible for the implementation of stable production and supply of pigs, and strengthens the regulation and control of pig production capacity based on sows that can reproduce". In January 2022, the Ministry of Agriculture and Rural Affairs and other 10 departments jointly issued the "Digital Rural Development Action Plan (2022-2025)", which clearly proposes to build a number of smart farms, smart pastures, and smart fisheries, and promote the integrated application of intelligent perception, intelligent analysis, and intelligent control technology and equipment in agricultural production. Promote the pilot of unmanned farms, and realize the intelligence and unmanned of the whole process of farm operations through remote control, semi-automatic control or autonomous control. So I'm going to do a digital and intelligent upgrade, improve the scale, and improve the efficiency!
New Hope explains why it wants to acquire equity in its subsidiaryThe acquisition of the company is the company's holding, the acquisition of subsidiary equity to better improve decision-making ability, improve operating efficiency, these companies have been in operation for many years, but this time did not make it clear which company to acquire, but today announced that New Hope intends to acquire Shandong Liuhe 92593% equity, and the "Equity Transfer Contract between Bank of Communications Financial Assets Investment and New Hope Liuhe Co., Ltd. on Shandong New Hope Liuhe Group" signed by New Hope, Bank of Communications Investment and Shandong Liuhe Co., Ltd. After the completion of this transaction, New Hope will hold 100% of the equity of Shandong Liuhe. There is also a plan to transfer Xu Wenxin's good agriculture and animal husbandry***183217% equity!
Look at this, New Hope still wants to develop greatly, but remembering the previous financing, everyone is not very optimistic, since 2020 has been carried out 3 times, this is the 4th, in January 2020 issued convertible bonds to raise 4 billion, in September 2020 private placement of 4 billion, in November 2021 again issued convertible bonds to finance 8.1 billion, a total of 16 billion in front, the problem is that the money is used up, but the invested project did not reach the promised income, which may be the reason why investors are not optimistic about this time, really use A shares as an ATM, New Hope's performance in the past 2 years is extremely unsatisfactory, and the loss in 2021 is 95.9.1 billion yuan, with a loss of 14 in 20226.1 billion yuan, let's say something that the boss doesn't like to hear, the two add up to more than 11 billion, you have raised 16 billion, and the company's revenue has reached more than 267 billion in 2 years, and you haven't made any money at allThe money is gone?Even if you lose money, what about the remaining 5 billion you raised in front of you?Before 2020, you made money, and you made money to go to **
Judging from the dividends, it is quite picky, and in the years of making money, there are not many points, and the net profit in 2020 is 494.4 billion yuan, no dividends, net profit of 50 in 20194.2 billion yuan, 10 dividends and 1 distribution50 yuan, dividend payout ratio 1233%, with a net profit of 1.7 billion yuan in 2018 and a dividend payout ratio of 729%, A-share is some enterprises, all day financing, dividends are smaller, the A-share as an ATM, not thinking about doing a good job, spending money is lavish, anyway, it is not my money spent, spent refinancing, I really don't understand, a 25-year-old, listed for 25 years, people were established on March 4, 98, listed on March 11, 98, are 25 years, are big guys, are married and in charge, have not been weaned, I am also a shareholder, I dare not say that I am this company! Therefore, after the financing announcement came out, the market did not buy it, is it possible to reflect more, I believe that the majority of investors will become more and more mature, those specific institutions, why don't you know what people think, anyway, what to play here, not our ordinary play, don't think that the institution is set to increase, it will be stable, there are many ways to play, pay attention!