Private placements came into the air, but Xiaofei chose to "escape" - this is what happened recently in the diamond production leading company Yu Diamond (300064, shares it) (300064.SZ). It is understood that due to the shortage of products, many people in the industry believe that the company's product price increase is more than expected. Despite this, the company's recent performance in the secondary market has been poor due to factors such as the small non-lifting of the ban. As of May 20, the company closed at 16.60 yuan, down about 17% from the April high. The price of diamonds rose slightly. "The subject matter of the company is quite unique. There are not many listed companies related to diamonds in China." Yang Zhongning, an analyst at Guodu Securities, said. It is understood that Yu Diamond's main business is the development, production and sales of synthetic diamond and its raw and auxiliary materials, as well as the development of synthetic diamond synthesis equipment. Synthetic diamond has high compressive strength, high wear resistance and corrosion resistance, so it is widely used in sawing, grinding, cutting, drilling and other tools. According to the news of China's super-hard materials network, the price of diamonds has risen again in recent days. The major domestic diamond manufacturers Zhongnan Diamond, Huanghe Cyclone (600172, stock bar) (600172.SH) and so on have raised prices. The price of diamonds generally rose by about 0.5 yuan / carat, of which the diamond crushing material of the Central South Diamond rose by nearly 10%. From the perspective of the entire industry, diamond manufacturers have full orders, and some companies have even placed orders for several months. "There are some models in our products that have raised prices, but the price increase is not obvious." On May 20, Zhang Kai, a representative of the Henan Diamond Securities Affairs, told the reporter of the First Financial Daily "Financial Business". “This price adjustment is not caused by the price increase of raw materials, mainly due to changes in supply and demand.†Yuan Zhibin, a researcher in the metallurgical industry of CIC Consulting, said that on the one hand, as traditional abrasive cutting technology was gradually eliminated, diamond-based abrasives were used. The demand for cutting equipment has increased significantly, which has led to an increase in demand for diamonds. On the other hand, in recent years, domestic diamond sales have increased significantly, and domestic supply has been affected by this decline, which has increased supply tension. Zhang Kai also said that the downstream of the company is mainly some tool manufacturers, including saw blades, grinding blocks, drill bit manufacturers, etc. From the current point of view, the demand is indeed relatively strong. Chen Hua, an analyst at CICC, said in his research report that the value of synthetic diamond products has risen slightly, raising the possibility of a profit increase. At present, the company's production and sales rate is close to 100%, and the expected prosperity will continue. The gross profit margin in the second quarter is slightly higher than that in the first quarter. High gross profit is a bright spot It is understood that China is a big producer of synthetic diamond. According to statistics from the Diamond Industry Association in 2009, the global production of synthetic diamonds is 5.5 billion carats, while China accounts for about 70% of the total. The Henan region where Yu Diamond is located is the main production base of synthetic diamond in China, accounting for about 80% of the total output of synthetic diamond in China. The Yellow River whirlwind, Yu Diamond and the South China Diamond 3 companies that are about to IPO account for 80% of the total output in Henan. Among them, the main competitor of Yu Diamond is the Zhongnan Diamond and the Yellow River whirlwind. Zhongnan Diamond is one of the largest synthetic diamond producers in the world, with the highest production capacity in China; the Yellow River cyclone production capacity ranks second in China. “The Yellow River whirlwind is similar to the products we make. Relatively speaking, they are doing relatively downstream products, including tools, etc.†Zhang Kai said. The reporter learned that Yu Diamond's gross profit margin and net profit margin are much higher than other companies in the same industry. According to a quarterly report, the gross profit margin of Yu Diamond is 45.75%, and the gross profit margin of the Yellow River cyclone is only 25.78%. “Yu’s diamond has a higher gross profit margin. On the one hand, the company originated from the supplier of raw and auxiliary materials, and the raw material self-sufficiency reduced the cost; on the other hand, the company’s advanced technology, all equipped with large presses will help to increase the proportion of high-grade products and increase production. Efficiency," said a brokerage analyst in Shanghai. Despite the downside in the gross margin, the performance of the Yellow River whirlwind is even better. It is understood that Yu Diamond achieved a net profit of 2,709.32 million yuan in the first quarter of 2011, a year-on-year increase of 52.79%, and earnings per share of 0.18 yuan. In the same period, the Yellow River cyclone realized a net profit of 31,190,800 yuan, an increase of 213.57%. It is understood that Yu Diamond is actively transforming and expanding its research and development and products to the photovoltaic industry. The micro-diamond line for the photovoltaic industry, which has been widely concerned by the market, has now reached the stage of production from the pilot stage of the product. The micron diamond cutting line production plant for the photovoltaic industry is scheduled to be put into production at the end of the year. The product will be mainly used for the cutting of polycrystalline silicon, monocrystalline silicon and LED sapphire materials required by the photovoltaic industry. "This is our extension to the downstream of the industrial chain, and we are also optimistic about the prospects of the photovoltaic industry." The company said. Zheng Dong, a researcher at Guosen Securities, expects the production capacity of the production line to reach 150,000 kilometers in 2012, which is a good opportunity for the explosive growth of the photovoltaic solar industry and will become a new profit growth for the company. The good prospects of private equity pursuit of small non-selling company business have attracted the entry of various funds, and the company's top ten tradable shareholders can also be described as "stars gathering" - Huashang Shengshi Growth (630002, fund bar), E Fund Science Fund All are listed among them. According to the company's quarterly report, the shareholdings of Hongdao Phase 1 and Phase 3, which were run by Sun Jiandong, the “biggest†in the investment community, were 2,994,300 shares and 3,422,600 shares, respectively, an increase of 1.066 million shares and 1,595,100 shares from the end of 2010. It is understood that Hongdao appeared in a number of stocks at the end of last year, including Fujing Technology (002222, shares it) (002222.SZ), Yinlun shares (002126, shares) (002126.SZ), Ruiqi shares (300126 (Stocks) (300126.SZ), etc., but in the first quarter of this year, they chose to quit, but they only loved Yu Diamond. Despite this, Yu Diamond, the “Stars of the Moonâ€, has recently been reduced by Xiao Fei. On May 11, Zhengzhou Regal Wang Jiayu reduced its holding of 920,000 shares through the Shenzhen Stock Exchange's block trading platform. The price of the shares was reduced to 16.50 yuan per share, equivalent to 91% of the closing price of the day. A total of 15.18 million yuan was cashed. The share ratio decreased from 5.289% to 4.987%. From April 26 to May 6, Wang Jiayu has reduced 2.84 million shares in the secondary market at a price of 18.72 yuan per share, and reduced his holdings on the block trading platform by 1.08 million on May 6. Shares, the price per share is also 16.50 yuan. In addition, on April 19th, Shanghai Shangli Investment Co., Ltd. also reduced its holding of 3 million shares at a price of 18.59 yuan per share through a block trading platform, and its shareholding ratio fell below 5%. "Small non-cost is relatively low, so seeing the stock price is OK, it is likely to choose to throw away. The cost of private placement is relatively high, it takes a lot of time to study the company's fundamentals, so it is relatively cautious when buying and selling stocks. Specifically, this is the fact that two completely different people pursue different goals in the same market. It is not surprising that the practice is different.†Yang Zhongning said. CICC said that it maintained its profit forecast of 0.50 and 0.75 yuan/share for the company from 2011 to 2012, up 100% and 50% year-on-year. The current stock price corresponds to 36 times P/E ratio in 2011, and there has not been a rise in the current round of diamond price increase due to the small non-lifting of the ban. Based on product prices and sales may exceed expectations, the likelihood of a profit increase will continue to be measured. As of May 12, a total of 67 institutions have forecasted Yu Diamond's 2011 annual results. The average forecasted net profit was 130 million yuan, an increase of 71.15% over the previous year.
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