Boshen Tools: It is expected that Thai subsidiaries will still lose money in the future

Insiders of Boshen Tools told Dazhi News Agency that in 2013, the company's net profit attributable to shareholders of listed companies increased by more than 100% year-on-year. This is relatively certain, and the Thai subsidiary is expected to be in a loss in 2013.

Specifically, the person said that the Thai subsidiary had invested too much in the early stage and the business hours were not long. It is expected that there will be a loss in the future.

From January to September 2013, the Thai subsidiary lost about 7 million yuan, and the company’s previously announced 2013 results forecast shows that the company’s net profit attributable to shareholders of listed companies from January to December 2013 is 1534.88-19.18 million yuan, Thailand. The company's loss in the first three quarters accounted for 36.48%-45.61% of the company's 2013 net profit.

On May 30, 2011, the company announced that the company intends to invest in Thailand to set up a wholly-owned subsidiary to build a diamond saw blade production base overseas. The total investment of the project is 239 million yuan, and the investment construction period is 3 years.

According to the company, the investment project will effectively reduce the impact of anti-dumping lawsuits initiated by the United States on diamond circular saw blades originating in China, consolidate and enhance the market position of the company's products in the United States, and exploit the location advantages to develop and develop India. Waiting for the South Asian market.

It is worth noting that on November 7, 2013, the company announced that its 2013 results will change from pre-decreasing to pre-increment. On the day of the company's stocks in the secondary market daily limit, and then continued to be active, on November 20 up to 9.57 yuan, the range of cumulative increase of nearly 30%.

On November 20th, Chen Huairong, one of the company's actual controllers, reduced his holdings by 2 million shares at a price of 8.21 yuan per share. Chen subsequently reduced his holdings by 2 million shares at a price of 7.77 yuan per share on December 10. The total reduction in cash is about 31.96 million yuan.

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