129773810122500000_43"Zhuangao financial network" trainee journalist Yu Hao Xiaobing China petrochemical (600,028. SH) 2011 annual report released yesterday. Report shows dramatic growth in the company's main revenue, net profits were flat. Worthy of note is the 2011 corporate asset impairment losses substantially reduced $ 15.4 billion, compared with last year to $ 5.8 billion, or 62.4%.To the annual report 2011 Sinopec asset impairment losses substantially reduced mainly in the goodwill (long-term equity investments), fixed assets and construction. Goodwill impairment losses for 2010 Sinopec 6.277 billion, 11, only 2 million; 10 7.567 billion impairment loss of fixed assets, reducing 11 to 2.781 billion; 10Construction in 644 million impairment loss, reducing 11 to 28 million. Inspection annual report last year found that of Sinopec, will significantly make 15.445 billion yuan in asset impairment losses, than the cent in 2009 was 7.992 billion, this provision than many analysts had expected. When impairment losses of goodwill to 62.77Here, 7.567 billion impairment loss of fixed assets.
China Petroleum made 4.408 billion asset impairment losses only, only China 29%. 2010 goodwill impairment losses primarily coming from Sinopec its three subsidiaries: qilu petrochemical and oil Daming, Yangzi petrochemical. Period of 1.361 billion oil out, LuPetrochemical 2.168 billion was made, Yangzi petrochemical 2.737 billion was made.
Strange is that they were making loss of goodwill is the subsidiary of Sinopec's acquisition in 2006. Recognized asset impairment losses of this scale, analysts say may be the petrochemical refinery business for themselves under the influence of oil price momentum, so as to attract more policy support.Sinopec 2008, 2009, 2010 loss is, 7.098 billion yuan, 7.567 billion yuan in fixed assets, are more than 7 billion.
2011 years 2.781 billion to $, $ 4.786 billion less compared to last year. Annual report, China 11 net profit to $ 71.7 billion, only from the1.4%, 2010 net income of $ 70.7 billion. In the case of rise in net profit was almost flat, if asset impairment losses of $ 15.4 billion, Sinopec net profit growth.
Even if calculated according to the 09 7.453 billion yuan in assets impairment losses, Sinopec net profit in the year remained negative. On Friday, the Committee made by the China Securities Regulatory Commission audits,Companies issuing convertible bond applications approved.
According to China after the announcement, Sinopec to issue a shares of convertible bonds to raise funds up to 30 billion yuan (about US $ 4.7 billion), for a period of six years
tera gold, coupon rate of not more than 3%. Reporter statistics 2011 Sinopec asset impairment losses for the last 3 years at least once a year. In the almost flat net profit growthCase, Sinopec to significantly reduce asset impairment losses, are paving the way for its subsequent convertible?
Reporters interviewed on the matter, analyst, who asked not to be named said the asset impairment losses substantially reduced is a good thing
tera power leveling, but the company is not paving the way for its convertible
tera gold, this comment. (Securities market weekly Syndication) "author:"Financial network zhuangao "cub reporter Hao Xiaobing" (Editor: the bean)
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