[ Source: "New Industry" April issue Reporter / Luo Gemei ] 　
Just as the 2012 financial report is about to come out, the former gold shareholder Shan Precision (002384. SZ) has repeatedly challenged the psychological endurance of investors.
On January 17, Dongshan Precision revised its 2012 annual results forecast that the company will have a loss of 15 million yuan in 2012. Less than a month before the time passed, Dongshan Precision once again announced that the company's loss in 2012 may expand to 109 million yuan.
On February 28th, Dongshan Precision released the performance report that Dongshan Precision's 2012 revenue was 1.82 billion yuan, a year-on-year increase of 54.62%, while the net profit loss was 108 million yuan, down 295.35% year-on-year.
The third quarterly report released in late October showed that Dongshan Precision had predicted that the net profit for the full year of 2012 was at least 88.04 million yuan.
Why is the gap before and after so big? Dongshan Precision's explanation is: huge reduction in overseas PV investment, reduction in communications industry orders, customer Powerwave Technologies Inc. (hereinafter referred to as "Polv") has gone bankrupt, and subsidiary Suzhou Donic Optoelectronics patent provision for impairment Caused by many reasons.
"New Industry" noticed that 70% of the assets of Doni Optoelectronics established in 2010 is the intangible assets of patent use rights. In an equity transfer in March 2012, the valuation of Doni Optoelectronics has obviously made the patents depreciated. Processing.
It stands to reason that Doni Opto's patent accrual should be prepared for impairment as early as the 2012 semi-annual report. Why the patent provision for impairment was delayed until the second performance revision of Dongshan Precision was added. At this time, Dongshan Precision's loss has exceeded 100 million yuan, and only the Doni Optoelectronics patent provision for impairment is as high as 56.56 million yuan.
"Dongshan Precision may be 'bathing' financial data, in preparation for the youth to go into battle." On February 22, a senior LED packaging manufacturer in China pointed out that "New Industry" pointed out that Dongshan's precision performance forecast data fell again and again, no Excluding the mentality of "one loss is enough" and "breaking the cans", all the bags can be removed, and a beautiful performance table will be prepared for 2013.
Dongshan Precision, a middle-level company, revealed that Dongshan Precision has successfully transformed LED. LED backlight business has become one of the company's main businesses. In 2012, only L ED backlight module revenue was as high as 500 million yuan.
It can be seen that although Dongshan Precision's performance in 2012 has repeatedly changed its face, its performance has changed, but it has already laid the groundwork for the 2013 bumper harvest, and the key to the change should be the LED business growth.
Performance flash
Perhaps based on the above reasons, Dong Yong Precision's controlling shareholders Yuan Yongfeng and Yuan Yonggang have no worries. As of December 20, 2012, Yuan Yongfeng and Yuan Yonggang increased their holdings of Dongshan Precision by 807,700 shares through the secondary market.
Li Xiaolin, an analyst of Southwest Securities Electronics Industry, pointed out that the controlling shareholder's shareholding increased two shares. One is optimistic about the company's future development prospects, and the other is to increase the shareholding to achieve a basically stable market price. "Probably the recent valuation of individual stocks." Too low, wave operation."
Despite this, Dongshan Precision's loss is still a bit sudden. The culprit is Dongshan Precision's photovoltaic business.
In August 2010, Dongshan Precision invested over 136 million yuan in SolFocus with over-raised funds and obtained 10.4% of its shares. Subsequently, Sol Focus was caught in the photovoltaic crisis. In 2011, the net assets of Sol Focus were negative 38.265 million yuan, with a loss of 204 million yuan. In 2012, SolFocus continued to lose money, affecting Dongshan's precision performance by about 80 million yuan.
If the subsequent bankruptcy of Polvi is a result of helplessness, there are still some flaws in the intangible assets such as the right to use patents.
  >>>>>> For more details, please refer to the "New Industry" April issue: http://
Just as the 2012 financial report is about to come out, the former gold shareholder Shan Precision (002384. SZ) has repeatedly challenged the psychological endurance of investors.
On January 17, Dongshan Precision revised its 2012 annual results forecast that the company will have a loss of 15 million yuan in 2012. Less than a month before the time passed, Dongshan Precision once again announced that the company's loss in 2012 may expand to 109 million yuan.
On February 28th, Dongshan Precision released the performance report that Dongshan Precision's 2012 revenue was 1.82 billion yuan, a year-on-year increase of 54.62%, while the net profit loss was 108 million yuan, down 295.35% year-on-year.
The third quarterly report released in late October showed that Dongshan Precision had predicted that the net profit for the full year of 2012 was at least 88.04 million yuan.
Why is the gap before and after so big? Dongshan Precision's explanation is: huge reduction in overseas PV investment, reduction in communications industry orders, customer Powerwave Technologies Inc. (hereinafter referred to as "Polv") has gone bankrupt, and subsidiary Suzhou Donic Optoelectronics patent provision for impairment Caused by many reasons.
"New Industry" noticed that 70% of the assets of Doni Optoelectronics established in 2010 is the intangible assets of patent use rights. In an equity transfer in March 2012, the valuation of Doni Optoelectronics has obviously made the patents depreciated. Processing.
It stands to reason that Doni Opto's patent accrual should be prepared for impairment as early as the 2012 semi-annual report. Why the patent provision for impairment was delayed until the second performance revision of Dongshan Precision was added. At this time, Dongshan Precision's loss has exceeded 100 million yuan, and only the Doni Optoelectronics patent provision for impairment is as high as 56.56 million yuan.
"Dongshan Precision may be 'bathing' financial data, in preparation for the youth to go into battle." On February 22, a senior LED packaging manufacturer in China pointed out that "New Industry" pointed out that Dongshan's precision performance forecast data fell again and again, no Excluding the mentality of "one loss is enough" and "breaking the cans", all the bags can be removed, and a beautiful performance table will be prepared for 2013.
Dongshan Precision, a middle-level company, revealed that Dongshan Precision has successfully transformed LED. LED backlight business has become one of the company's main businesses. In 2012, only L ED backlight module revenue was as high as 500 million yuan.
It can be seen that although Dongshan Precision's performance in 2012 has repeatedly changed its face, its performance has changed, but it has already laid the groundwork for the 2013 bumper harvest, and the key to the change should be the LED business growth.
Performance flash
Perhaps based on the above reasons, Dong Yong Precision's controlling shareholders Yuan Yongfeng and Yuan Yonggang have no worries. As of December 20, 2012, Yuan Yongfeng and Yuan Yonggang increased their holdings of Dongshan Precision by 807,700 shares through the secondary market.
Li Xiaolin, an analyst of Southwest Securities Electronics Industry, pointed out that the controlling shareholder's shareholding increased two shares. One is optimistic about the company's future development prospects, and the other is to increase the shareholding to achieve a basically stable market price. "Probably the recent valuation of individual stocks." Too low, wave operation."
Despite this, Dongshan Precision's loss is still a bit sudden. The culprit is Dongshan Precision's photovoltaic business.
In August 2010, Dongshan Precision invested over 136 million yuan in SolFocus with over-raised funds and obtained 10.4% of its shares. Subsequently, Sol Focus was caught in the photovoltaic crisis. In 2011, the net assets of Sol Focus were negative 38.265 million yuan, with a loss of 204 million yuan. In 2012, SolFocus continued to lose money, affecting Dongshan's precision performance by about 80 million yuan.
If the subsequent bankruptcy of Polvi is a result of helplessness, there are still some flaws in the intangible assets such as the right to use patents.
  >>>>>> For more details, please refer to the "New Industry" April issue: http://
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