Sichuan Changhong seller LCD panel production to fill the bottomless pit of funding.

<p> Sichuan Changhong (600839.SH) recently described as frequent moves, while subsidiary of Huayi Compressor (000 404) of the gimmick can not continue to contribute to more profits, sell their assets on the other hand continue to seek funding. .However, careful analysis, the layout of the House to drop billions of Sichuan Changhong LCD panel, it also appears to act in this series is not so sudden. .</ P> <P> <P> <p> Huayi compression will be reorganized? </ P> <p> Recently, Sichuan Changhong said that the price will be about 19.81 million yuan to the Chinese agreed to transfer its subsidiary Changhong compression .Changhong joint venture holds 100% equity interest in Jiangxi. .</ P> <p> Interestingly, Sichuan Changhong holds 29.92% equity interest Huayi compressed from its largest shareholder. .Although the major shareholder, Sichuan Changhong and China has continued to spread compression intriguing Italian scandal, first mechanical and electrical market rumors international giant Komatsu intends to 1.8 billion acquisition of Huayi compression options, and then Huayi compressed April 16 of an indicative .Notice: The actual controller of the Changhong Group has worked with an outside compressor business cooperation enterprises had contact. .The news came out strong continuous compression caused by Huayi rose. .</ P> <p> the second quarter to August of this year, Hisense Kelon sold a total of 1,139 shares of stock Huayi compression, a total of 99.28 million yuan cash. .This makes the rumors intensified restructuring Huayi compression, two shareholders of the firm exit is considered a precursor to equity restructuring. .</ P> <p> Sichuan Changhong, a long-term focus of the industry, said: "Sichuan Changhong who can be described as compression in China under the original capital intended to spare a gimmick, but the actual restructuring is expected Huayi compression is not obvious, perhaps for lack of .Sichuan Changhong money, it is also possible to separate Huayi compression. ."</ P> <p> financing for the sale of assets </ p> <p> Throughout recent years, Sichuan Changhong can be described in a variety of ways to keep selling assets in order to seek funding support. .</ P> <p> August 20 this year, Changhong, Sichuan Changhong Group, the largest shareholder of the transfer of fixed assets of over ten million yuan to seek financial support 7. .</ P> <p> only a month later, Sichuan Changhong followed in September 24 in an open manner at a higher price listing held by Great Wall Securities 2.42% stake. .Changhong, China announced that this move is based on "industry focus, resources together," the operating principle for focusing resources on core industries, and revitalize the company's non-core business assets and achieve the purpose of increasing the value of the assets. .Changhong was reported to June 30, 2010 as the base date, Changhong Electric shares held by Great Wall Securities market value of about 270 million yuan. .</ P> <p> 10 28, Sichuan Changhong financing approved by the Board two motions, respectively, Mianyang Branch of China Construction Bank to apply to the equivalent of 1.55 billion yuan a comprehensive line of credit and to apply to the equivalent of Sichuan Branch Bank of Communications .600 million yuan a comprehensive line of credit. .</ P> <p> weak performance of the main worrying </ p> <p> Sichuan Changhong operating income in the third quarter rose 26%, net profit flat; first three quarters, operating income of 29.3 billion and net profit of 0.94 .billion, corresponding to earnings per share of 0.03 yuan. .However, a negative operating cash flow up to 2.1 billion, mainly due to growth in receivables and inventory. .</ P> <p> third quarter results in a higher base last year under the slower growth. .Dragon plans to the company since the beginning of color TV market share and increase the size played a role in the overall growth above the industry growth. .</ P> <p> CICC-related, analysts said gross margin continued to decline, the main business profitability declined in the first three-quarter gross margin fell by 2.1%. .Mainly due to increased competition and the TV to the stock prices of foreign brands competing for market share. .</ P> <p> bottomless pit of the LCD panel demand for funds </ p> <p> 2010 年 6 29, Sichuan Changhong heavily into the exclusion of 27.2 billion yuan in Chengdu Hi-tech Zone 8.5 generation LCD panel production line planning, according to .Changhong this program will be among the highly competitive field of LCD panels. .</ P> <p> Industry analysts pointed out, PDP panel line a greater impact on the recent performance, one company will vigorously promote the PDP TV, PDP and LCD before then the balance is particularly important; the second is transferred to fixed assets of 3.9 billion .million, may increase the depreciation of 2-3 billion per year. .</ P> <p> LCD panel caused numerous domestic enterprises and foreign owned is not new has been heavily hit Hao, Sichuan Changhong can be described in time for the front, but the industry questioned the prospects of the LCD panel has heard. .</ P> <p> Liu Buchen, senior appliances observers told reporters: "generation LCD panels, especially high demand for capital investment panel almost bottomless pit, almost exhausted the domestic panel thought the financing company to invest heavily to meet the initial needs Shanggang Gang .without sufficient funds to support hard to win, strategic investment mistakes repeated problems in Sichuan Changhong to enter the LCD panel, it is people worried about the direction. ."</ P>.