RE: KDX10 Mar 2018 09:36
Sl translation of your kdx link
Recently, many readers interpret the message, urging kangdexin (19.78 suspension, referral shares) (002450.SZ) of the company. To sum up, customer groups include apple, Samsung, HUAWEI, OPPO, vivo, BMW, Mercedes Benz, Audi, Volvo, TOYOTA, Volkswagen, Ford and so on.
Great! The bread you seen so many companies have not seen such a grand and magnificent customers could include well-known electronic equipment manufacturers and all major brands of car
Look again, it is a company that mainly engaged in the research, production and sale of advanced polymer materials, that is, the "membrane" material for R & D, production and sale.
Since its listing in July 2010, its share price has risen more than 10 times, with a total market value of more than 90 billion, just like a big bull stock.
Due to the rapid increase in early performance, since the listing of Kant, shares rose more than 10 times, coupled with the expansion of the total market value of equity, from the end of 2010 to 6 billion in 2017 soared to more than 90 billion highs.
Behind the high performance: the turnover rate of accounts receivable is significantly lower than that of the peer.
According to the results: 2011-2016 years, Kant new revenue increased from 1 billion 526 million yuan to 9 billion 233 million yuan, an increase of 5.05 times. At the same time, the annual balance of the company's accounts receivable increased from 127 million yuan to 4 billion 800 million yuan, an increase of 36.8 times.
It can be seen that the growth rate of accounts receivable is significantly higher than that of revenue growth, and the turnover rate of receivable accounts for the company declined from 17.29 times in 2011 to 2.43 in 2016. The following are the changes in the accounts receivable and accounts receivable turnover based on public data
According to the announcement, as of March 2, 2018, Kangde group holds 24.05% stake in the company, which pledged shares accounted for 95.5% of the Kangde group holds shares of the company, the company's total share capital of 22.97%.
In fact, it is normal for the large shareholders to pledge equity to finance in A shares, which may not necessarily lead to a risk. However, if the pledge ratio of large shareholders is kept at a high level for a long time, it may affect the listed company if the stock price falls sharply, large shareholders fail to supplement the pledge and face the risk of forced liquidation. For example, the plunge before the Spring Festival, the risk of the equity pledge of listed companies is highlighted.
Large shareholders are rarely seen. But when the two tier market starts to pay close attention to this problem, it will probably enlarge the risk sentiment and reduce the share price.
However, with the strengthening of supervision, the high proportion pledge of shares of listed companies may become the past.
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