Crystal Optoelectronics "has a long way to go"
First sold by the controlling shareholder, and then abandoned by the company's executives, Crystal Optoelectronics (002273) can be described as "a long way to go."
Shareholders and senior executives
From June 14 to 17, 2013, Star Group Co., Ltd. (hereinafter referred to as “Star Groupâ€) reduced the holding of 5 million shares of Crystal Photovoltaic Unrestricted Circulation through bulk trading, accounting for 1.33% of the total share capital. The price is 20.19 yuan / share. Star Group is the controlling shareholder of Crystal Optoelectronics. After this reduction, the shareholding ratio fell to 27.03%, still the company's largest shareholder.
The controlling shareholder couldn’t help but reduce the impulse, and the executives then “lood away from the windâ€. On June 17, 2013, the executives who had been silent for three months reduced their holdings to resurgence. On the same day, Kong Wenjun, the secret secretary and deputy general manager of Crystal Optoelectronics, sold 70,125 shares through the auction price and the average price of 21.43 yuan/share. For Kong Wenjun, who had a holding of 280,500 shares before the reduction, the reduction ratio was just 25%, which is the upper limit for the incumbent executives to reduce their annual holdings.
Following Kong Wenjun, on June 19th, Zheng Ping, the chief financial officer, also joined the reduction. He passed the bidding transaction and reduced 100,000 shares at an average price of 19.51 yuan/share. On July 3, 2013, Zheng Ping again. After bidding, the company reduced its holdings of 68,750 shares. After the second reduction, Zheng Ping also reduced its own share of 20.83%.
In fact, on July 3, the reduction of other executives of Crystal Optoelectronics was even more fierce. Chairman and general manager Lin Min, deputy general manager Li Xiayun and Zhou Jianjun, director and deputy general manager Sheng Yongjiang passed the four senior executives. The bulk trading collective reduction, the transaction price is 19.56 yuan / share, can be described as "unified." According to statistics from the reporters, only one day on July 3, Crystal Photovoltaic 5 executives cashed in 84.382 million yuan.
It is worth noting that on July 4th, Crystal Optoelectronics once again had a large-scale transaction. The transaction price was still 19.56 yuan/share, and the transaction amount was 22.20 million yuan. Who is reducing the holding? On July 5, Crystal Optoelectronics closed at 18.70 yuan, which has fallen for two consecutive days.
Reduce the reason for holding
Crystal Optoelectronics landed in the small and medium-sized board in 2008. Since its listing, the company's main business is mainly based on precision optical film components, and gradually extended to microdisplay products and LED sapphire substrate products. In 2012, the company's operating income was 592 million yuan, a year-on-year increase of 36.81%, and net profit was 148 million yuan, an increase of 21.15%. In the first quarter of this year, the company's operating income increased by 32.49%, while net profit increased by 131.59%. The company also predicted that the first half of the year's net profit increased by 30% to 50%.
Some analysts believe that although the crystal photoelectric sapphire IRCF, LED sapphire substrate business growth is good, but the company still faces some challenges in 2013: First, the company's optical low-pass filter, package CMOS Cover, etc. are used for Digital cameras, while low-end and mid-range digital cameras are being greatly impacted by smartphones. Consumer demand for digital cameras is shrinking. Second, the depreciation of the yen will still have a certain adverse impact on the company, because the company’s main customers Still mostly Japanese manufacturers. Therefore, the external environment faced by the company in 2013 is relatively more complicated.
"The last reduction was said to be the acquisition of the industry by the major shareholders. Why is this? Is the company's interim results less than expected?" In the Shenzhen Stock Exchange interactive platform, some investors asked. Some investors have suggested: "Why do you have a reduction before each plunge? If you are optimistic about the company's development, as an executive, it is understandable to reduce the holdings, but you can't reduce the price! Please ask the company to use actual actions to maintain stability."
"This year, the stock price of electronic stocks has risen very well. Maybe the relevant shareholders think that the stock price is quite satisfactory." Kong Wenjun, secretary of Crystal Optoelectronics, said that the company's performance in the second half of last year was particularly good. Under this circumstance, there is a big increase in the second half of this year. Uncertainty because the predictability of orders is low. "Myself and Zheng Ping are both equity incentives, and there are certain costs, interest and tax pressures." Kong Wenjun added.
“The controlling shareholder has reduced his holdings because he wants to buy some assets of a local company.†When talking about the reduction of controlling shareholders, Kong Wenjun explained this.
"As for digital cameras, there are more customers in Japan, and the depreciation of the yen has an impact on us." Kong Wenjun said frankly.
(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.)
Shareholders and senior executives
From June 14 to 17, 2013, Star Group Co., Ltd. (hereinafter referred to as “Star Groupâ€) reduced the holding of 5 million shares of Crystal Photovoltaic Unrestricted Circulation through bulk trading, accounting for 1.33% of the total share capital. The price is 20.19 yuan / share. Star Group is the controlling shareholder of Crystal Optoelectronics. After this reduction, the shareholding ratio fell to 27.03%, still the company's largest shareholder.
The controlling shareholder couldn’t help but reduce the impulse, and the executives then “lood away from the windâ€. On June 17, 2013, the executives who had been silent for three months reduced their holdings to resurgence. On the same day, Kong Wenjun, the secret secretary and deputy general manager of Crystal Optoelectronics, sold 70,125 shares through the auction price and the average price of 21.43 yuan/share. For Kong Wenjun, who had a holding of 280,500 shares before the reduction, the reduction ratio was just 25%, which is the upper limit for the incumbent executives to reduce their annual holdings.
Following Kong Wenjun, on June 19th, Zheng Ping, the chief financial officer, also joined the reduction. He passed the bidding transaction and reduced 100,000 shares at an average price of 19.51 yuan/share. On July 3, 2013, Zheng Ping again. After bidding, the company reduced its holdings of 68,750 shares. After the second reduction, Zheng Ping also reduced its own share of 20.83%.
In fact, on July 3, the reduction of other executives of Crystal Optoelectronics was even more fierce. Chairman and general manager Lin Min, deputy general manager Li Xiayun and Zhou Jianjun, director and deputy general manager Sheng Yongjiang passed the four senior executives. The bulk trading collective reduction, the transaction price is 19.56 yuan / share, can be described as "unified." According to statistics from the reporters, only one day on July 3, Crystal Photovoltaic 5 executives cashed in 84.382 million yuan.
It is worth noting that on July 4th, Crystal Optoelectronics once again had a large-scale transaction. The transaction price was still 19.56 yuan/share, and the transaction amount was 22.20 million yuan. Who is reducing the holding? On July 5, Crystal Optoelectronics closed at 18.70 yuan, which has fallen for two consecutive days.
Reduce the reason for holding
Crystal Optoelectronics landed in the small and medium-sized board in 2008. Since its listing, the company's main business is mainly based on precision optical film components, and gradually extended to microdisplay products and LED sapphire substrate products. In 2012, the company's operating income was 592 million yuan, a year-on-year increase of 36.81%, and net profit was 148 million yuan, an increase of 21.15%. In the first quarter of this year, the company's operating income increased by 32.49%, while net profit increased by 131.59%. The company also predicted that the first half of the year's net profit increased by 30% to 50%.
Some analysts believe that although the crystal photoelectric sapphire IRCF, LED sapphire substrate business growth is good, but the company still faces some challenges in 2013: First, the company's optical low-pass filter, package CMOS Cover, etc. are used for Digital cameras, while low-end and mid-range digital cameras are being greatly impacted by smartphones. Consumer demand for digital cameras is shrinking. Second, the depreciation of the yen will still have a certain adverse impact on the company, because the company’s main customers Still mostly Japanese manufacturers. Therefore, the external environment faced by the company in 2013 is relatively more complicated.
"The last reduction was said to be the acquisition of the industry by the major shareholders. Why is this? Is the company's interim results less than expected?" In the Shenzhen Stock Exchange interactive platform, some investors asked. Some investors have suggested: "Why do you have a reduction before each plunge? If you are optimistic about the company's development, as an executive, it is understandable to reduce the holdings, but you can't reduce the price! Please ask the company to use actual actions to maintain stability."
"This year, the stock price of electronic stocks has risen very well. Maybe the relevant shareholders think that the stock price is quite satisfactory." Kong Wenjun, secretary of Crystal Optoelectronics, said that the company's performance in the second half of last year was particularly good. Under this circumstance, there is a big increase in the second half of this year. Uncertainty because the predictability of orders is low. "Myself and Zheng Ping are both equity incentives, and there are certain costs, interest and tax pressures." Kong Wenjun added.
“The controlling shareholder has reduced his holdings because he wants to buy some assets of a local company.†When talking about the reduction of controlling shareholders, Kong Wenjun explained this.
"As for digital cameras, there are more customers in Japan, and the depreciation of the yen has an impact on us." Kong Wenjun said frankly.
(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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