4 company placement disclosure for major violations

【 Editor's Note: 】 Shanghai xinmei 4 companies such as directional add-issuance without propulsion but no timely disclosure progress so that investors are subject to different degrees of misleading, the industry's challenge such disclosure may not be bad hype left space

: Before, after verifying the http://, yangzhiguang, space communications, Shanghai xinmei, Bluestar cleaning and other 4 companies directional add-issuance without propulsion but no timely disclosure progress so that investors are subject to different degrees of misleading.

The industry believes that the company in the placement process behavior, and current corporate disclosure management regulations of the "access" exists. For already notice a directional add-issuance of listed companies, when significant events and changes are likely to affect the stock prices, should be disclosed in a timely manner in accordance with the provisions of the progress and changes in important events to confidentiality, to have been disclosed and market rumors, the listed companies should also be clarified in a timely manner.

Recently, this newspaper has received public investors and funds and other institutional investors on the company's progress in directional add-issuance, studying information verified, yangzhiguang, space communications, Shanghai xinmei, Bluestar cleaning and other 4 companies directional add-issuance without propulsion but no timely disclosure progress so that investors are subject to different degrees of misleading.

Some call this investors reflect on these 4 companies be concerned and the actual investment, with the intent of the placement or programme. Analysis of the structure of the investors, both retail investors due to placement bulletin or hearsay, these four companies for investment and private equity funds based on market information and rumors of investment, more public placement Fund under implemented jiancang, wait for the notice of private placement through circumstances exist.

Feature 1: withdrawn scenarios but not timely disclosure

This was informed by various verifications, these four companies, yangzhiguang, space communications last year its directional add-issuance of Directors and general meeting of shareholders, and to conduct a private placement. Since then, the two companies were submitted to regulatory authorities officially a directional add-issuance programme.

Of these, yangzhiguang disclosed in December last year, preparing to release 3.7 billion shares, raise funds for the acquisition of Shenzhen East sunshine the yidu East sunshine high-purity aluminum 75% stake, milk East sunshine fine foil 75% stake, Shenzhen East Sun formed foil 98.49% stake, photo of plant-derived Dongyang 75% of the shares and 100% of imports and exports of milk xingyuan's equity, of aluminium processing industry chain and related assets. Through SEO, aluminium processing industry chain integration, the company's main business is from a single hydrophilic aluminum foil into a wide range of processed products. Accordingly, the company profit forecast results: If the shares at January 1, 2007, is expected to be completed in 2007 increased net profit of about $ 2.5 billion in 2007, earnings per share will reach $ 0.56.