I have many doubts the company’s self-expectations. I have seen too many lies and contradictions between the situation before and after. If you are an investor, the first principle is to know which companies can not buy.

Two months ago, I had this column in prompt and easy Katatada of seven-up computer, a company can not provide value to investors of the company. So, now I would continue this research project and tell you not touch the second company – code 002 143 high-money food [11.18 to 0.27%].

High King called Jin Xiangyu food controller. This is a very sunny young and rich. Golf played quite well. Unfortunately, his company is very bad.

Bad to what extent? A set of data to illustrate the problem: in 2006 net profit of 37.02 million yuan, 45.51 million in 2007, 2008, 6.46 million, 7.11 million in 2009, first quarter of 2010 was -1,533 million. Foods high gold highest net market 2007. Study the situation of its nearly 4 years, I suggest you get in a responsible manner, I did not find it any better basis.

Why high gold Jin Xiangyu food market was only 3 years, less and less money, or even a major loss? I column in the current period, the focus of this company only a few data were analyzed in the next period will focus on ” Why, “and this company in the future want to do.

Jin Xiangyu main business of high gold pig slaughter and processing of food, meat sales, meat processing and sales, canned products, frozen pork and pig breeding exports, behind China’s first 10.

Hongyuan Securities [16.38 -0.61%] in high-payment of food in an initial public offering prospectus, very detailed description of the slaughtering and meat processing industry, high growth and high gold food products more competitive. Raised funds four (Please note that this is a direct result of the company’s current situation appears a major factor).

The first project was the relocation of Suining technical transformation project of high gold, investment 150 million. Technical transformation project pigs before slaughter capacity 550 000, the main products include hot fresh meat, frozen meat production capacity equivalent to 41,250 tons. Technological transformation, the slaughter of 1.5 million, the formation of hot fresh meat, frozen meat, 75,000 tons. Add chilled meat of which 45,000 tons.

Kim is very optimistic about the high expectations of food, “can digest the new capacity.” Expected 2008 sales of 1.231 billion yuan project goes into operation, net profit 46.96 million yuan. The result is only 11.78 million yuan net profit in 2008, 2009, 15.32 million, not to the expected 30%.

The second project is the relocation of Guangyuan technical transformation project of high gold, investment 105 million. 1 year completed. To 500,000 in the country of origin on the basis of production capacity increased to 1,000,000, hot fresh and frozen meat from 2.5375 tons to 50,000 tons. Originally expected net sales of 822 million and 30.05 million yuan. 2 years have passed, the result is a net profit of 4.52 million in 2008, 2009, -207 million.

Have invested 56 million of the chilled meat cold chain logistics system projects and investments 13.5 million of Luzhou City High King Foods canned meat processing transformation, are expected to be a year investment, but that changed after the listing ran aground, so that the expected net profit of 14 million into bubbles.

I am full of food after high-gold, burst silent. 3 years ago swore an expected net profit after 3 years of more than 80 million companies, to the first quarter of 2010 was -1,533 million. A heaven and earth. Jin Xiangyu investors follow the natural fall of Trappe.

Kim Jin Xiangyu high for the food, the situation only began to deteriorate, more bad news still to come. Next tell you.

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