Financial News Agency, June 8th, after a long period of silence, Qin'an Shares, which fell from the altar after creating a "21-game winning streak" in the futures market last year, has come out again?
This evening, Qin'an Shares announced that as of June 4, the company's futures investment closing proceeds will affect the pre-tax amount of investment profits and losses in 2021 by 53.9846 million yuan. In addition, the company ensures that the principal of futures investment will never exceed 200 million yuan, and the funds can be used on a rolling basis.
It is worth noting that Qin'an Shares attracted market attention last year because of its futures investment.
In the months after mid-April 2020, according to incomplete statistics, Qin'an Shares initially closed its positions 21 times without any loss. The cumulative income from futures investment was once as high as 769 million yuan, which was the company's cumulative net profit since its listing. 3 times the profit. Therefore, Qin'an Shares is also nicknamed the "Futures King" by investors.
Therefore, at the same time, as the side business of futures continues to increase market popularity for Qin'an shares, starting from the end of April 2020, as of early September, the company's stock price has also been rising, with a cumulative increase of up to 118.5%.
But the good times did not last long. After entering mid-September, Qin'an stock futures trading suffered repeated losses. On the evening of September 24, 2020, Qin'an Co., Ltd. announced that the company's latest batch of futures investment liquidation losses were 73.4838 million yuan. Only one day had passed since the last futures loss announcement, and the cumulative liquidation losses rose to 143 million yuan.
In addition, the announcement also disclosed more worrying issues. As of the close of trading on September 23, 2020, the floating loss of Qin'an's futures account has reached 258 million yuan. If the closing loss is added to the floating loss, the company's early futures will be flat. More than half of the 770 million yuan profit from the warehouse has been given back.
Finally, on September 29, 2020, Qin'an Shares announced that it had closed all futures contracts on the 28th, with a loss of 223 million yuan in this liquidation, and a cumulative profit of 297 million yuan since April 15. The company will withdraw from investment futures trading and will still focus on its main business operations in the future.
Public information shows that as an auto parts manufacturing company, Qin'an Co., Ltd. is mainly engaged in the research and development, production and sales of core automotive engine parts - cylinder blocks, cylinder heads, crankshafts, transmission cases and other products. It is also engaged in new energy in the field of new energy. R&D, production and sales of energy drive system products.
Judging from the 2020 annual report and the first quarter report of 2021 disclosed by Qin'an Co., Ltd., the company's main business income has turned a loss into a profit, and the "contribution" to the bright returns from futures investment is not small.
In 2020, the company achieved total revenue of 914 million yuan, a year-on-year increase of 53.51%; net profit attributable to the parent company was 325 million yuan, a significant year-on-year increase of 175.34%. Among them, the company's net cash flow generated from investment activities in 2020 increased by 198.98% compared with the same period last year. The company said that this was mainly due to the increase in the net amount of investment and financial management funds and the large gains from futures investments. In the
financial report, the company explained the significant changes in profits caused by non-main business, saying that in 2020, based on the judgment of the spot price trend of bulk commodities, the company made futures investments and obtained corresponding profits without affecting normal operations and operating in compliance with laws and regulations. 259 million yuan. At the same time, the company also reminded that this matter is an occasional transaction and is not sustainable.
