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To equity holders of the Company increased by 9.9%
Nine Dragons Paper (Holdings) Limited Announces FY2013 Annual Results
Significant. Result in realization of cost reduction and efficiency enhancement
Sales achieved historical high.Financial Highlights Sales. Increased by 5.8% to approximately RMB 28.7 billion.Gross profit increased by 6.2% to approximately RMB 4.6 billion.Profit attributable to equity holders of the Company increased by 9.9% to approximately
RMB 1.6 billion. Proposed final. Dividend per share of RMB 8.0 cents (equivalent to approximately HK $10.1cents) the school FY2013 results announced by the NDP with
to reduce costs and increase ประสิทธิภาพการ sales success
.History of high sales increased financial highlights 5.8% about yuan, 000 700 28, gross, increase 6.2 about yuan 4600000000 profit from its shareholders. The company increased 9. 9
.% on Yuan 1600000000 offer dividends per share of RMB 8.0 St. (the equivalent of about HK $10.1cents)
The FY2013. Annual results announcement by NDP with
reducing the cost and enhance the successful sale
history high sell highlights,, Increased financial 5.8% about RMB, 28.7 million gross margin increased 6.2 about RMB, 4.6 billion profits from the shareholders of the company increased 9. 9
%. About RMB 1.6 billion. The proposed. Final dividend per share of RMB 8.0 St. (the equivalent of about $HK 10.1cents)
NDP Limited announced the annual results
FY2013) to reduce costs and to enhance success selling
.Historic high sale highlights the increased financial 5.8% about RMB 28.7 million profit increase 6.2 about RMB 4.6 billion. Profit from the shareholders of the company increased 9. 9
% about RMB 1.6 billion. The proposed final dividend per share of RMB 8.0 St. (the equivalent of about $10.1cents)
HK Nine Dragons Paper (Holdings). Co., Ltd. announced the annual FY2013
effects important in causing reduction and efficiency enhancement
.Successful sales from sales highlights high.Financial history increased 5.8% were approximately 28.7 yuan profit billion.Gross. Increased 6.2% were approximately RMB 4600000000. Profit shareholders' equity of the company increased from 9.9% were approximately
1.6 thousand yuan, offer dividends per share of RMB 8.0 St. (the equivalent of about $HK 10.1
Analysts are speaking. Out in support of paper company Nine Dragons Paper (Holdings) Ltd. After its shares plunged in Hong Kong on Tuesday following. A withdrawal of its credit rating by Standard & Poor 's.
.The stock was suspended after, falling 17.5% following S & P 's withdrawal of its long-term corporate credit rating citing. "Insufficient access." to management. The, street however seems to, think investors have overreacted.
According to Dow Jones. Market, TalkMorgan Stanley believes Nine Dragons' share price will rise over the next 60 days after further clarification from management. Which will ease investors concerns over the company 's financials.
DBS Vickers upgraded the stock to "buy." from "hold and." Said S & P 's reason for the withdrawal was unconvincing as management held a call with analysts, Tuesday afternoonAccording to Dow Jones Market Talk.
, Charlene Gu an analyst at Yuanta Securities in, Hong Kong also called the sell-off. An overreaction particularly as, S & P is a highly regarded firm so "people want to dump the stock just to be safe." She called. S & P 's decision "unprofessional."
Hong Kong shareholder activist David Webb has also criticized S & P' s move.In a comment published on his website, on Tuesday Mr. Webb said the Securities and Futures Commission should prohibit credit. Agencies from releasing announcements on listed companies during trading hours...
"Unlike external research houses, (credit. Rating agencies) have a special relationship with, debt issuersBecause they are given privileged access to information in order to produce credit ratings which are paid for by the company. Under contract, "said Mr. Webb. He said" even a withdrawal of ratings can indicate a breakdown in a, key relationship rather. Like the resignation of an auditor, "which could represent the publication of price-sensitive information.
.Nine Dragons resumes trading on Wednesday afternoon in Hong Kong. Its peer Lee & Man Paper Manufacturing Ltd. Is up 1.6% after. Falling 3% on Tuesday.
Hong Kong-listed Nine Dragons Paper is making a second attempt to get rid of its senior bonds. Which have become more expensive for the company following a ratings downgrade by Stand & Poor 's in December last year.The Chinese paper board manufacturer yesterday launched a tender offer through Deutsche Bank for the entire $118.6 million. That remains outstanding of its 7.875% bonds, due 2013 offering to pay the principle back in full to bondholders to tender. Before the early deadline on July 22.
Although the analysts are constantly updating their forecasts on NDP s current year. ' Financial, resultsThe company still appears to be marginally profitable in this difficult business environment.
But profitability is a concept. Which focuses more on the corporate, income statement not cash flows. And NDP 's cash flows are under a lot of pressure given. The fall in expected operating cash flow combined with Mrs. Cheung 's pronounced commitment to continue to expand capital. Expenditure rapidly.The result is that it appears the company will need to borrow even more to survive the year.
Existing shareholders are. Clearly down and would, like to see the company take measures to improve share price sooner rather than later. They, are. ,, however minority shareholders Mrs. Cheung and family holding more than 70% of the firm.
Potential investors might see. The company has a ", good bet"Given the current share price low and the prospects for long-term competitiveness - if the company survives to be a player. In the long run!
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