Institution test water On January 10, Huitong Energy announced that its 2010 net profit was expected to decline by more than 50% from RMB 22.6224 million in the same period of last year. However, Huitong Energy's share price suddenly started after the Spring Festival. On February 11th, the stock was sealed open; on February 14th, its heavy volume rose by 5.40%, and the transaction volume surged 4.17% at the head of the two cities, with a net inflow of 1.41 million yuan; February 15th. It closed at a gain of 6.42%, and it once fell within a 10-minute period from a 1.5% drop to a daily limit. The gains reached 23.43% in three trading days. The Shanghai Stock Exchange's public trading information shows that the funds used to raise the stock on the above trading day were all due to hot money from the sales department, and no agency was found. In fact, there are no institutional investors in Huitong Energy’s list of the top ten circulating shareholders in the previous year. In addition, apart from the fact that Tianxiang Investment Consulting published a research report on Huitong Energy in each of 2009 and 2010, no other securities firm reported on this stock. The newspaper was also informed in the interview that there was even a situation in which the trade industry researcher and the new energy industry researcher “do not look at itâ€. However, this does not mean that institutional investors completely ignore Huitong Energy. The stock's stock price has started to show signs since the fourth quarter of 2010: On November 10th, Huitong Energy Limited daily limit, Guotai Junan headquarters appeared on the seat of the second place to buy the amount on the day and bought 13.6894 million yuan; on November 19th, The stock continued to limit daily. On November 30th, the stock plunged 9.60%. According to the Shanghai Stock Exchange's public trading information, the fourth-largest institutional seat sold was the amount of 4,402,200 yuan. Even with the intraday highest price of 15.03 yuan, the agency sold nearly 300,000 shares. The company’s third quarterly report in 2010 showed that the tenth largest shareholder’s holdings at the end of the period amounted to 347,400 shares, that is, even if the agency had already cleared the position on the above trading day, its number of shares held once was close enough to that of the stock. Top ten shareholders. The newspaper was informed that an agency established Huitong Energy in the fourth quarter of 2010 and stayed at least until the end of the fourth quarter. Therefore, in the 2010 annual report released by Huitong Energy in the future, the absence of institutions from among the top ten circulating shareholders may change. Wind legend In spite of the lacklustre performance in 2010, we welcome the pursuit of funds, especially the quiet testing of institutions. Among these, it must be mentioned that this Shanghai old stock has been legendary for five years of "wind power story." As early as 2006, the new major shareholder Shanghai Hongchanghao Group Co., Ltd. (hereinafter referred to as “Hongchangâ€) promised to inject wind energy assets into the listed company, enabling the company to gradually form new energy and trade. , Real estate industry goes hand in hand with three industries. In September 2007, it was renamed Huitong Energy because it established the direction of development for the transition to "a new professional energy company that focuses on wind power generation and new energy." According to public information, Hongchangyi owns 400 square kilometers of wind farm resources in Wulanchabu, Inner Mongolia. After being put into production, the company has a total installed capacity of 1,500 megawatts and an annual power generation capacity of 37.5 kWh. It is estimated that the annual sales revenue will reach 20.63. Billion yuan and net profit of 3.71 yuan. In December 2007, the Huitong Energy Shareholders' General Meeting passed the proposal for the acquisition of Inner Mongolia Huitong Energy Investment Co., Ltd. held by Hongchangyi and its related companies. Through a related transaction of RMB 99 million, Huitong Energy obtained the 49.5 MW wind concession rights and related approvals for the Zhuanyi County Wind Farm (Phase 1) in Zhuozi County, Wulanchabu, and the exploration of a 1,000 MW wind farm at Siziwang Banner. right. In the second half of 2009, Bayinxile Wind Farm started construction. The company’s wind power equipment procurement contract was also signed in early 2010. Since the wind farm construction cycle is 1.5 years, it has no impact on the 2010 performance. The above assets will be put into operation in the first quarter of this year. A fund research fellow in the new energy industry believes that, theoretically, Huitong Energy's “de-conceptualization†of the concept of wind energy is a hype for hype, but existing domestic wind power shares such as Sinovel and Jiuding New Materials are all wind power. For equipment, purely wind power generation, there are fewer reference companies available for horizontal comparison, and the actual financial data of Huitong Energy's wind power assets are still unknown. In addition, another reason why organizations choose to test water instead of making large-scale grabs is that More than 50% of the company’s share capital is concentrated in the hands of the first and second largest shareholders. The actual circulating equity is only about 70 million shares. If the institution’s purchase volume is too large, it is easy to increase the stock price, but shipping is more difficult. In addition, there is still 1,450 megawatts of production capacity of Hongchang Yi did not inject into the listed company, which can cause the imagined potential production capacity to be nearly 30 times the “existing†production capacity. Therefore, if the company successively injects wind power Phase II and Phase III assets, it must refinance. Huitong Energy insiders disclosed that if it continues to inject subsequent wind power assets, it will refinance it through additional issuance. However, so far, the company has no plans for private placement and timetable. "Iron cock" hope "wind" red Huitong Energy's net profit in 2010 will drop by more than 50% year-on-year, which means that the net profit for 2010 will be only about 10 million yuan. The net profit realized by the company in 2009 was 22,622,400 yuan, which was 46.88% lower than that in 2008. The reason for the decline for two consecutive years was the decrease in income from non-recurring gains and losses. In fact, since Hongchangyi became the largest shareholder in 2006, Huitong Energy has been able to maintain profitability by selling assets so far, thus avoiding a loss for two consecutive years and even being suspended by ST. In fact, Huitong Energy's stocks in 32 listed companies in the trading industry accounted for only 658 million yuan in total assets, which was the second-lowest, higher than the number of *ST Jingu before restructuring. From 2007 to 2009, the company’s net profit after deducting non-recurring gains and losses was RMB 58,579,600, RMB 68,286,600 and RMB 20,222,400, respectively. During the three years, the company sold assets mainly for real estate assets previously leased commercially. In other words, before the wind energy assets see benefits, the company's main business trade is actually a year-on-year loss. Based on the long-term downturn in the existing main business, the history of the non-profit dividends of the old Shanghai stocks that registered in Shanghai's main board as early as 1992 also approached 12 years. The last dividend is still required to be traced back to 1998. The history of continuous dividends tops A shares. The company's explanation for the indiscriminate dividends of successive years is that profits have been invested in wind power projects. Whether this remark is sufficient for shareholders' satisfaction, the actual data of wind assets will be the best judge. A topless Tower Crane, also known as a flat top tower crane, is a type of construction crane that does not have a traditional horizontal jib or boom. Instead, it features a horizontal machinery arm that is used to lift and move loads. The absence of a jib allows for easier maneuverability and greater flexibility in confined spaces. 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