Following the announcement of Fenghua Hi-Tech on the previous day, Foshan Lighting became the second "heavy disaster household" in the stock market to plunge due to the unfavorable stock losses in the first quarter. The company announced yesterday that due to the loss of short-term stock investment income and fair value changes in the first quarter, the company will have a book loss of approximately 75 million yuan in the first quarter. Affected by this, Foshan Lighting was sealed on the daily limit. Although Foshan Lighting’s Secretary-General Lin Yihui insisted that the company’s profitability in the second quarter was very promising, the analysts of Galaxy Securities, Lu’s 硎Jingjing, listed companies with large amounts of cash to go stocks instead of putting them into production were not doing business, in fact since the third quarter of last year. The performance growth of some listed companies is not normal. As the stock market continues to test and the quarterly report is announced, it is estimated that there will be more and more companies that have lost or even lost money due to stock market.
Foshan Lighting: Banking stocks in heavy warehouses have plummeted
Why has Foshan Lighting, which has maintained high growth and high delivery for more than 10 consecutive years, suffered such a huge loss? According to its report in the last three quarters last year, the company invested a total of 230 million yuan in securities investment last year. Most of the purchases were Huaxia Bank and China Construction Bank. China Shenhua and other large-cap blue-chip stocks. Among them, Ningbo Bank bought 2.21 million shares at a cost of nearly 28 yuan. As of yesterday's close, Ningbo Bank's share price was only 13.78 yuan, which was devastated by the waist. The other blue chip stocks the company is looking for have almost experienced a 20% drop in the first quarter.
In response to the performance of the company's stocks, Foshan Lighting's director, Lin Yuhui, said that the loss in the first quarter was only reflected in the company's books, and had no impact on the liquidity of the company's operations. He believes that investing in the stock market is inherently risky. The company achieved a lucrative return on investment in the stock market in 2005 and 2006. Even if the current loss is still less than the broader market decline, the performance is still relatively stable.
He revealed that due to the uncertainty of the stock market outlook, the company has basically cleared the stocks in its hands, and only retained some of the fund investment; while the original stock of the 32.72 million Bank of Communications held by the company in May is about to be lifted and banned, according to the current Bank of Communications's stock price calculation, this alone can bring more than 250 million yuan of investment profits to the company, semi-annual performance to maintain profitability is not a big problem. Regarding whether the Bank of Communications shares will be sold immediately, he said that he will decide on the market conditions at that time.
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