Shandong gold lost nearly 10 billion market value in two days

According to China nonferrous metals. Com's two stop falls on July 4, smashing the circulation market value of Shandong gold (600547) of 8.861 billion yuan. Investors holding Shandong gold in the stock bar call "can't afford to hurt.".

On June 29, Shandong gold, which had been suspended for nearly three months, announced the company's restructuring plan. The company will obtain 9.984 billion yuan of assets from the controlling shareholder Shandong gold group and other companies, thus increasing about 401 tons of gold reserves. After the reorganization, the gold reserves of Shandong gold will double to 800 tons, and the company will really wear the halo of "China's first gold share".

Since the third quarter of last year, the international gold price began to enter the downward channel. Since the suspension of trading in Shandong gold in early April to plan the overall listing, the gold price has gone down all the way. At present, it has fallen from the highest point of about 1800 US dollars / ounce to the current 1200 US dollars / ounce, a drop of more than 30%. At the same time, the share prices of other gold companies in the A-share market also experienced a dramatic decline.

In addition, institutions have also questioned the impact of assets acquired by Shandong gold on performance. Goldman Sachs Gao Hua Securities report pointed out that Shandong gold's acquisition of mining rights is mainly exploration rights, and it is expected that the initial gold production is less, and the contribution of the acquisition assets to the company's performance needs to wait for the release of production capacity. UBS Securities believes that the completion of the acquisition will dilute the company's earnings per share in view of the impact of falling gold prices on the company's earnings and the current performance contribution of the acquired assets. UBS Securities has removed Shandong gold from the A-share core buying list.

The insiders said that Shandong gold wanted to acquire 10 billion assets at a premium, the price of gold fell sharply in the second quarter and the stock market fell sharply in three months after the company's suspension of trading. It is not surprising that the company's stock price fell by two stops, and according to the current situation, the decline is far from enough, so investors should pay attention to the risk.