A year ago, Alto Electronics (002587) won the large-scale LED full-color screen business of Xinhua News Agency. Now the agreement period has arrived, but the amount of performance of the two parties is still less than 10%. In desperation, on November 12, Alto Electronics announced that the agreement with the partner was extended for one year, but the specific purchase amount can only be determined.
In fact, in 2011, Qinshang Optoelectronics also obtained the LED display business of Xinhua News Agency, but the project has also been slow, and the agreement was terminated as early as January 2013. In contrast, Alto Electronics, in addition to the announcement of contract progress in October, did not release other risk warnings. The "Daily Economic News" reporter also noticed that after the contract was signed, along with the substantial increase in the share price of Alto Electronics, the company's executives also jointly reduced their holdings by nearly 40 million yuan.
Deferred one year purchase amount to be determined
Back to November 11, 2012, Alto Electronics and China Xinhua TV Holdings Co., Ltd. (hereinafter referred to as Xinhua TV) signed the "Outdoor LED Full Color Screen and Advertising Distribution System Customization Contract", which is marked with an outdoor LED full color screen and a set. Network control platform software.
According to the information, Xinhua TV (08356, HK) is listed on the Hong Kong Stock Exchange and its major shareholder is China Xinhua News Network Co., Ltd. In fact, China Xinhua News Network Co., Ltd. is a company incorporated in Hong Kong, China and a wholly-owned subsidiary of Xinhua News Agency.
According to the contract, China Xinhua TV promised to purchase 200 outdoor LED full-color screens from Alto Electronics for a period of 12 months. Alto's estimated total contract amount is 1.6 to 220 million yuan, accounting for 69.51% to 95.58% of total operating income in 2011, so it has a greater impact on its future performance.
Today, the one-year deadline is full, but the original contract of Alto Electronics is slow. As of November 11, 2013, the company received orders from Xinhua TV, the total amount is estimated to be only 12.25 million yuan, less than one tenth of the original estimated amount.
In the face of actual conditions, Alto Electronics signed a supplementary agreement with Xinhua TV and its wholly-owned subsidiary on November 11th. The two parties agreed to extend the original contract performance period by one year, which is extended to November 11, 2014.
However, the "Daily Economic News" reporter found that in the supplementary agreement, Alto Electronics has lowered the original unit price of the product from 15,000 yuan / square meter to 14,800 yuan / square meter. In addition, Alto Electronics also stated that there is a large uncertainty in the number of purchase orders during the implementation of the supplementary agreement, and it is currently impossible to determine the total amount.
After the big single, the high-level reduction of the supervisor
Aspired by 200 million big orders, Alto Electronics immediately entered a strong upward trend. Since November last year, its share price has risen from around 11 yuan / share to a record high of 18.35 yuan / share, during which the increase reached 70%.
Taking advantage of the sharp rise in share prices, Alto Electronics' senior officials have also begun to reduce their shareholdings. Among them, in December 2012, including the vice chairman Guo Weihua, financial director Peng Shixin and other seven executives jointly reduced 1.71 million shares; and from March to September this year, Guo Weihua continued to reduce the holding of 371,000 shares, Huang Bin, Qiu Rongbang two The supervisors also reduced their total holdings by 487,900 shares. Up to now, the above-mentioned executives have reduced their holdings by 2.83 million shares and accumulated a total of 37.16 million yuan.
In fact, the "Daily Economic News" reporter noted that Alto Electronics is not the first LED listed company involved in the Xinhua News Agency business, as early as December 22, 2011, landing on the capital market has not yet full moon, Qin Shang Optoelectronics (002638, closing price) 11.31 yuan) won the order of up to 1.5 billion yuan.
( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. )
In fact, in 2011, Qinshang Optoelectronics also obtained the LED display business of Xinhua News Agency, but the project has also been slow, and the agreement was terminated as early as January 2013. In contrast, Alto Electronics, in addition to the announcement of contract progress in October, did not release other risk warnings. The "Daily Economic News" reporter also noticed that after the contract was signed, along with the substantial increase in the share price of Alto Electronics, the company's executives also jointly reduced their holdings by nearly 40 million yuan.
Deferred one year purchase amount to be determined
Back to November 11, 2012, Alto Electronics and China Xinhua TV Holdings Co., Ltd. (hereinafter referred to as Xinhua TV) signed the "Outdoor LED Full Color Screen and Advertising Distribution System Customization Contract", which is marked with an outdoor LED full color screen and a set. Network control platform software.
According to the information, Xinhua TV (08356, HK) is listed on the Hong Kong Stock Exchange and its major shareholder is China Xinhua News Network Co., Ltd. In fact, China Xinhua News Network Co., Ltd. is a company incorporated in Hong Kong, China and a wholly-owned subsidiary of Xinhua News Agency.
According to the contract, China Xinhua TV promised to purchase 200 outdoor LED full-color screens from Alto Electronics for a period of 12 months. Alto's estimated total contract amount is 1.6 to 220 million yuan, accounting for 69.51% to 95.58% of total operating income in 2011, so it has a greater impact on its future performance.
Today, the one-year deadline is full, but the original contract of Alto Electronics is slow. As of November 11, 2013, the company received orders from Xinhua TV, the total amount is estimated to be only 12.25 million yuan, less than one tenth of the original estimated amount.
In the face of actual conditions, Alto Electronics signed a supplementary agreement with Xinhua TV and its wholly-owned subsidiary on November 11th. The two parties agreed to extend the original contract performance period by one year, which is extended to November 11, 2014.
However, the "Daily Economic News" reporter found that in the supplementary agreement, Alto Electronics has lowered the original unit price of the product from 15,000 yuan / square meter to 14,800 yuan / square meter. In addition, Alto Electronics also stated that there is a large uncertainty in the number of purchase orders during the implementation of the supplementary agreement, and it is currently impossible to determine the total amount.
After the big single, the high-level reduction of the supervisor
Aspired by 200 million big orders, Alto Electronics immediately entered a strong upward trend. Since November last year, its share price has risen from around 11 yuan / share to a record high of 18.35 yuan / share, during which the increase reached 70%.
Taking advantage of the sharp rise in share prices, Alto Electronics' senior officials have also begun to reduce their shareholdings. Among them, in December 2012, including the vice chairman Guo Weihua, financial director Peng Shixin and other seven executives jointly reduced 1.71 million shares; and from March to September this year, Guo Weihua continued to reduce the holding of 371,000 shares, Huang Bin, Qiu Rongbang two The supervisors also reduced their total holdings by 487,900 shares. Up to now, the above-mentioned executives have reduced their holdings by 2.83 million shares and accumulated a total of 37.16 million yuan.
In fact, the "Daily Economic News" reporter noted that Alto Electronics is not the first LED listed company involved in the Xinhua News Agency business, as early as December 22, 2011, landing on the capital market has not yet full moon, Qin Shang Optoelectronics (002638, closing price) 11.31 yuan) won the order of up to 1.5 billion yuan.
( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. )
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