A rolling stock losses last year to 689 million will be expanding * * * * ST processing

Netease financial feb 10-rolling stock (600894) 10, 2011 report released late night, the company last year net profit loss 689 million yuan, a 2010 yuan of 97.89 million thanks to the nearly 600 million yuan, basic earnings per share for-0.904 yuan. Because the two successive years of losses, according to ShangJiaoSuo regulation, football wholesale jerseys company will be changed as for "* ST rolling".

Annual report shows, the annual output of 914800 tons of iron company, up by 9.81%; Produces 1.3158 million tons, up to reduce 9.15%; Produce steel 1.4871 million tons, up by 6.22%. Annual realize business income is 6.181 billion yuan, a 5.06% decline from.

Shares of a rolling, said both at home and abroad by bad management environment influence, this year to the domestic steel industry remains sluggish, especially since the middle of September, in just 40 days, the domestic construction steel prices experienced greatly plunge, representing a common at about 15%. And the decision of the cost of steel iron ore in the monopoly position, and steel prices serious not synchronous, steel mills high cost, profit space seriously squeezed.

In October the industry profit lowest level in history, according to industry statistics show that 77 large and medium-sized steel enterprises, domestic product sales profit margin is only 0.47%, deducting investment profit, four quarter loss almost all nfl jerseys wholesale industries.

In addition, tight monetary policy effect, social funds, causing bank and customer itself funds difficult position, then affects the company. Crane hole shut and future base uncertainty, to company credit produce considerable influence. The shortage of funds to purchase and sales company in lack of flexibility, also influence the economic benefit.

According to a previous report shows that in the past four years, rolling stock in addition to 2009 have profit other than a year of losses. In order to profitability and rolling stock last year announced GuangRi shares with whole asset exchange, will be main business from metal smelting, rolling and rolling processing into the elevator the hockey jerseys supplymanufacturing, elevator parts production and logistics services.

A rolling stock says, promote restructuring, and to ensure the existence, and speeding up the business transformation is a period of future major strategic direction. In 2012 the company must promote restructuring and the transformation, the realization enterprise development and personnel dismissal settlement, etc of work smooth transition. So to speed up the GuangRi shares with the assets reorganization, ensure smooth completion of restructuring.

Due to the continuous losses over the past two years, according to the Shanghai stock exchange listed on the stock exchange rules of the, rolling stock will face "with star to put on a hat", in the annual report after the disclosure by implementing special treatment, namely in company stock before referred to as "* ST", hockey NHL jerseys supply as the stock will be changed to "* ST rolling".