Yesterday'S Closing Stock Price Closed At 7.55 Yuan / Share Fell Back To 3 Years Ago.

Just completed the "mini" issue.

Since the 27 day of trading, it was subject to a down limit. After the company's stock price fell for three consecutive trading days, as of yesterday's closing, the company's stock price closed at 7.55 yuan / share, and fell back to 3 years ago.

Share prices resume trading three times down

Although the issuance of the news birds was reduced from the original 100 million shares to 5 million shares, the company's additional shares were unmanned, resulting in the sale of the last 290 thousand remaining shares.

At the same time, the news bird landed on the day of the resumption of the resumption of trading, closing at 8.27 yuan / share.

Moreover, the stock price of the birds on the 28 and 29 days still did not decline. As of November 29th, the company's stock price closed at 7.55 yuan / share, which was 18.47% lower than the 9.26 yuan / share issuance price.

Some investors suspect

It was suppressed by big bills.

On the 29 day of the morning, the bird reported 1051 hand selling at 9:48, which changed the stock price from 7.90 yuan / share to 7.88 yuan / share. After a minute, the stock price dropped to 7.87 yuan per share due to 261 hand sales, while three wave larger sales orders appeared at 10:48. The share price of the company fell to 7.84 yuan per share due to 900 hand selling, and then the selling of 500 hand and 700 hand immediately reduced the share price to the yuan / share.

In addition, according to the reporter's statistics, there were 6 big sales orders on the afternoon of 29 days, which were all over 500 hands.

The company's lowest stock price reached 7.65 yuan / share on that day.

At 2:56 p.m. and 3 o'clock p.m., the news bird's share price was pulled up by 1399 hands and 1100 hands, and it was finally charged at 7.75 yuan / share.

For investors questioned, senior investment consultant Yu told reporters: "recently, the company's share price trend is affected by the continuous decline of the stock index. The situation is not very large. Instead, the volume of pactions has maintained a relatively high level during the fall process, and there is no rule of funding."

For additional issuance?

The fall in the share price of the news bird makes the shareholders who have just completed the issuance lose 18.47% of their profits immediately.

In particular, the news Bird Group paid large sums of money to subscribe for the issuance of shares, that is, to subscribe for about 1 million 660 thousand shares, accounting for 33.18% of the total issue.

Giving priority to placing about 1 million 750 thousand shares, accounting for 34.96% of the total issue.

If calculated according to the closing price of the 29 day, the news bird group will be reduced by 2 million 836 thousand and 500 yuan due to the discount of share price of 18.47%.

As a matter of fact, it is also expected for a company to have been reported to be refrigerated.

In October 2012, when the public offering limit was adjusted from the original 100 million shares to 30 million shares, the company again lowered the public offering limit to 5 million shares, the final issue price was 9.26 yuan, and the final fund raised was only 46 million 300 thousand yuan, which was 95% lower than the initial fund raising plan.

Why did the birds not give up the plan?

In response, Xiao Fang Dong Fang Fang, a good news bird, has publicly explained that "the issuance of 5 million shares is only a symbolic one, because China Aviation securities and our cooperation for many years, considering their efforts, we decided to symbolize a bit."

Yu agreed with the above statement, and believed that large-scale reduction of the scale of issuance is indeed a suspicion of rescuing securities companies.

However, Yu believes that the "mini" issuance of the news birds is to be issued for the purpose of issuance.

He believes that the reason why the good news birds do not give up the meaning of issuance is greater than the essence. It is estimated that more is to reflect the company's confidence in stock prices. Otherwise, 95% of the additional issuance will not be the same for the development of the company's planning.

"Finally, it was underwritten by the underwriting group, accounting for 5.79% of the total issue.

The amount is less than 3 million yuan, for brokers, 3 million yuan to buy this location of the birds, even if the loss is very limited.

Good news birds pursues "channel is king"

At the same time, Yu believes that there are still some reasons why listed companies do not shy away from low price issuance: first, the economy is bad; the company is in urgent need of capital; the issue of capital chain can be solved through the issuance of additional funds, and it is not necessary to make the debt ratio too bad; the two is the key point of the company's real development and expansion, which needs a batch of funds to sustain development.

"It is estimated that the main reason for the current company's issuance is the above two points, and there are probably two birds in the news."

He said.

In the original plan, there were 47 shops to be purchased, and the total area was 16400 square meters. The total purchase cost of the shop was 1 billion 167 million 500 thousand yuan.

As of December 31, 2011, the company has purchased 70 stores (including 19 shops which have been purchased but not delivered).

Yu told the reporters that "many sports brands have closed down from the market, and a large number of high-quality shop resources have been released. The company can lease better shops at relatively low prices, and steadily push ahead with the plan of" opening more stores and opening stores ".

The expansion of many shops directly led to a sharp increase in the investment real estate of the wedding birds.

By the end of 2011, the reported value of investment real estate was 347 million 990 thousand yuan, an increase of 134 million 80 thousand yuan over the end of 2010, an increase of 62.68%.

The main reason for the increase in investment real estate is to support the franchisees to become bigger and stronger. The company will lease some of the shops to franchisees and set up the bird shop, which will result in the maximization of the shareholders' interests and the temporary rental.

{page_break}

Expansion causes capital hunger

Many expansion shops make the resources of the wedding birds extremely scarce.

According to the company's announcement, in 2011, although the net cash flow generated by the parent company's activities was 81 million 270 thousand yuan, the net cash flow generated by merger activities was -710 million, which was 102.37% lower than the same period last year due to the merger of Shanghai's treasure birds.

The reason why the cash flow declined is mainly due to the reasons for the company's support for the franchisee to become bigger and stronger, and to promote the company's sales and increase the credit sales ratio to the excellent franchisees.

The company also said that if the future is right

Accounts receivable can not be recovered on time, which may affect the cash flow of the company, thereby affecting the normal production and operation of the company's risk.

It is understood that as of the end of 2011 and the end of 2010, the accounts receivable of wedding birds were 716 million 960 thousand yuan and 264 million 40 thousand yuan respectively, representing an increase of 171.53% and 116.21% respectively compared with the end of last year.

It is not just the birds of fortune that have seen a shortage of funds, but also the controlling shareholders of wedding birds.

According to the announcement of the announcement of the announcement, the news bird group had 48 million shares in the first half of November, accounting for 8.08% of the total shares.

As previously reported, the group has already pledged 82 million shares of tradable shares (13.81% of the total shares) to Jiangxi International Trust and Shanghai International Trust for loan guarantee.

As of November 15th, the newspaper bird group had pledged 130 million shares of its company, accounting for 21.89% of its total shares.