Analysis: Domestic printing and packaging listed companies in the third quarter performance
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Among the few listed companies in the printing industry in China, printing and packaging companies are firmly occupying half of the country. What is their performance in the warm current of the overall economic recovery in the third quarter of 2009?
Xiamen Hexing: Total operating income increased by 40% over the same period of the previous year
Hexing Company has developed into a large-scale integrated packaging enterprise integrating packaging products such as cardboard, carton, color box, printing and cushioning materials. From July to September 2009, Hexing's total operating income reached 256 million yuan, an increase of 44.41% over the same period of the previous year. In the first nine months of 2009, the total operating income was 610 million yuan, an increase of 27.67% over the same period of the previous year.
Major issues:
After the 19th meeting of the first board of directors of the company and the 2008 annual general meeting of shareholders, the company changed the original project of Xiamen Hexing Packaging and Printing Co., Ltd. with an annual output of 90 million m2 carton expansion project, involving an amount of 153,738,800 yuan, of which 516.28 million yuan was used to invest in a new project of 50 million m2 carton per year for the Qingdao subsidiary. The remaining raised funds were 10,215,580 yuan, which was reviewed at the 22nd meeting of the first board of directors and the first extraordinary shareholders meeting in 2009, of which 52,155,800 yuan Invested in the construction of a new project of 50 million m2 carton in Guangdong, and invested 50 million yuan to build a new project of 50 million m2 carton in Zhengzhou.
It is agreed that the company and Yingyi (Xiamen) Technology Co., Ltd. jointly invested in the establishment of Hefei Feixi Subsidiary in Taohua Industrial Park of Hefei Economic and Technological Development Zone with a registered capital of 50 million yuan, of which the company invested 35 million yuan, accounting for 70%. Currency contribution; source of funds: own. As of the end of the reporting period, the company has completed the relevant industrial and commercial procedures and completed the first time the two parties arrived, with a total amount of 10 million yuan. The company name is "Hefei Hexin Packing Co., Ltd.".
It is agreed that the company will set up a wholly-owned subsidiary, Haining Hexing Packing Co., Ltd. (hereinafter referred to as "Haining Hexing") and Tianjin Shikaiwei Packing Co., Ltd. (hereinafter referred to as "Tianjin Shikaiwei"), with a registered capital of 2 million yuan.
Shanghai Jielong: Subsidiary company's profit reduction leads to a decrease in minority shareholders' profit and loss
At the end of the reporting period, the total assets were 2.273 billion yuan, an increase of 1.58% over the end of the previous year. Shareholders' income was 417 million yuan, an increase of 0.52% from the end of the previous year. From July to September, the net profit attributable to shareholders of listed companies was 7 million yuan, a decrease of 79.19% over the same period of the previous year.
Donggang Security: Income tax rate adjustment benefits the company
As of the end of the third quarter, total assets reached 712 million yuan, an increase from the end of 2008, an increase of 2.90%. The owner's equity attributable to shareholders of listed companies was 558 million yuan, an increase of 5.61% from the end of 2008. From July to September 2009, total operating income was 119 million yuan, an increase of 4.99% over the same period of the previous year. The basic earnings per share was 0.12 yuan, an increase of 33.33% over the same period of the previous year.
During the reporting period, the net cash flow from the production and operation activities of the company and the net cash flow from production and operation activities increased by 44.82% and 44.44% respectively over the same period of the previous year:
The cost is reduced. From January to September 2009, the company strengthened its control over production costs and various expenses, which reduced various costs and expenses, and reduced the cash paid by the company for purchasing goods.
2. Adjustment of income tax rate. From January to September 2008, due to the adjustment of the high-tech enterprise recognition policy, the company temporarily paid corporate income tax at a rate of 25%. In December 2008, the company passed the high-tech enterprise identification in Shandong Province. Therefore, in January-September 2009, the company paid the tax rate of 15%, and the total income tax payment decreased by 4,373,700 yuan.
Xufei Investment: The total revenue of the first nine months is 5 million yuan
As of September 30, 2009, total assets were 186 million yuan, an increase of 2.17% from the end of last year. From July to September 2009, the total operating income was 2.42 million yuan, an increase of 145.23% over the same period of the previous year. The total operating income from January to September was 5.05 million yuan, an increase of 72.54% over the same period of the previous year. Basic earnings per share was 0.0038 yuan in July-September, an increase of 118.91% over the same period of the previous year.
During the reporting period and from January to September, the operating income and net profit, earnings per share, and return on net assets all increased significantly compared with the same period of last year. This is mainly because the company has increased its efforts to lease vacant properties this year and increase rental income. Subsidiary company's real estate company obtained the planning agent income of the project, on the other hand, the company strengthened cost control and reduced management expenses.