From sucrose to LED, to the big health Guangdong Ganhua when to stop losses?
On January 24, Guangdong Ganhua released its 2017 results forecast. It is estimated that the company's full-year net profit for 2017 is -330 million yuan to -2.8 billion yuan, compared with 102 million yuan in the same period of last year, down 422.25% to 373.42%.
Guangdong Ganhua said that the net profit attributable to shareholders of listed companies in 2017 was a loss, mainly due to: 1. According to the company's wholly-owned subsidiary Guangdong Deli Photoelectric Co., Ltd., the company has to make a large amount of assets. Depreciation reserve; 2. Land disposal income (before tax) decreased sharply. Land disposal income (before tax) was RMB 0.04 million during the reporting period, and land disposal income (before tax) was RMB 304 million in the same period last year.
Gaogong LED noted that Guangdong Ganhua’s large losses in 2017 depend to a large extent on the drag of Deli Optoelectronics.
It is understood that the earliest main business of Guangdong Ganhua is the sugarcane comprehensive utilization industry, including the production of sugar, pulp and paper biochemical products, etc., but the company's business is shrinking year by year due to factors such as insufficient supply of raw materials and the inability to invest sufficient funds. .
In the second half of 2011, Guangdong Ganhua established Deli Optoelectronics and promoted the LED epitaxial chip industry to Deli Xiding. However, Delixi's shots still have not reversed the fate of Guangdong Ganhua's continued loss. The LED business, which has been highly anticipated, has even become another "trailer" for performance.
According to the annual report of Guangdong Ganhua, in 2014, 2015 and 2016, Guangdong Ganhua LED business revenue was 26.81 million yuan, 59.807 million yuan, and 63.421 million yuan respectively. However, its loss amount is getting higher and higher, 2014-2016 The annual loss was 20,756,400, 59,339,900, and 9282.10 million. In the first half of 2017, LED business revenue was 4,803,340, and its operating income increased substantially, but it still failed to stop the loss. In the first half of the year, Guangdong Ganhua LED business lost 16.44 million yuan.
Due to operational pressure, Guangdong Ganhua will start from September 30, 2017 to October 12, 2017 with a starting price of RMB 68,666,460, and from October 13, 2017 to October 19, 2017, with a profit of RMB 500,000. Yuan is the starting price, from November 13, 2017 to November 17, 2017, with a starting price of 400,000 yuan for the initial sale of 100% equity of Deli Optoelectronics and the company's 23,184.19 million yuan claims. Not collected to the intended transferee. From December 8, 2017 to December 14, 2017, Guangdong Ganhua continued to transfer the equity and creditor's rights of Deli Optoelectronics at a reserve price of RMB 300 million.
As of the end of December 14, 2017, Hangzhou Delixi Group Co., Ltd. is the only intended transferee to submit materials to the Southern United Property Rights Exchange Center.
As for why I wanted to enter the LED field? According to the staff of the Guangdong Ganhua Securities Department, “the company was seeking transformation and looking for a new industry. It coincided with the policy support of the LED industry and it was involved in this business.†After the sale of Deli Optoelectronics, Guangdong Gan It will once again transform into a major health field.
In addition, for the large loss in 2017, another explanation for Guangdong Ganhua is that the land disposal income (before tax) has dropped significantly. According to its annual report, in 2015 and 2016, Guangdong Ganhua's non-current assets disposal profit and loss were 313 million yuan and 304 million yuan respectively, but the land disposal income in 2017 fell.
From sugar production to LED chip industry to big health industry, Guangdong Ganhua has been looking for a business suitable for its own development. However, its traditional business has not improved for a long time, but the LED business has been “untimely†and continues to fall into a quagmire of losses.
Under the situation that the main business is sluggish, the LED business continues to suffer losses, and the big health business is uncertain, Guangdong Ganhua has more considerations on how to survive.
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