The soaring stock price is seriously deviated from the performance.
In the first quarter of this year, Ren Zixing achieved an operating income of 94 million yuan, down 0.42% year-on-year, and the net profit attributable to shareholders of listed companies was-22 million yuan, a loss of 565,438+0.58% compared with the same period last year, but it was still a loss. Its non-net profit in the first quarter was-30 million yuan, which was also at a loss.
Ren Zixing was listed on the Growth Enterprise Market on April 25th, 20 12. The company's main business is network security. In the year of listing, the performance of high-speed growth slowed down obviously, and the company's operating income, net profit and non-net profit changed by 10.20%, 1. 14% and -7.20% respectively. From 20 13 to 20 16, both net profit and non-net profit showed steady growth.
In 20 17 years and 20 18 years, the company realized operating income of10/0/90,000 yuan and165438+790,000 yuan respectively, with year-on-year growth of 53.74% and155438. However, the deduction of non-net profit did not increase rapidly. In the past two years, the company realized the deduction of non-net profit of RMB 32 million and-0.10.80 billion respectively, with year-on-year changes of 105.55% and-156.53%. 20 18 is the first deduction of non-net profit loss after listing.
The operating performance of 20 19 is even more bleak. In that year, the company achieved operating income of 996 million yuan, down 65,438+0.5.51%year-on-year. The net profit and non-net profit after deduction were-65,438+0.01100 million yuan and-246 million yuan respectively. Operating income declined, and both net profit and non-net profit were at a loss.
In 2020, the company achieved an operating income of 878 million yuan, a decrease of 1 1.87% compared with the previous year, and a net profit of170,000 yuan, barely turning losses into profits, but its turnaround was not the improvement of the profitability of its main business, but the result of non-recurring gains and losses. In that year, the company's non-recurring profit and loss was 34 million yuan, and the company deducted non-net profit of-170,000 yuan, which was still a loss.
To sum up, during the three years from 20 18 to 2020, the non-net profit of Renzi Bank continued to lose money. This shows that the profitability of the company's main business is poor.
Buy at a high price and sell at a low price.
The issue price of Ren Zixing is 15 yuan/share, and the share price in 20 12 years mostly appears below the issue price. 20 13 and 20 14, the stock price rose slowly to 20 15, 1.7 1 yuan/share. With the arrival of the bull market, the company's share price soared. By June of that year, the share price reached 102.85 yuan/share, an increase of 3.74 times in less than six months. However, with the sharp fluctuations in the A-share market that year, the share price of Ren Zixing plummeted.
On July 9, 20 15, the lowest share price was 20.56 yuan/share. Major changes in the secondary market may be related to the company's capital operation. Since 20 14, the company has implemented a series of asset mergers and acquisitions. 2065438+September 2004, Ren Zixing acquired 0/00% equity of Suzhou Tangren Digital Technology Co., Ltd. (hereinafter referred to as Tangren Digital)/KLOC by paying cash and issuing shares, and the transaction price was 603 million yuan. The premium rate of this acquisition is as high as 698.69%.
2065438+In March 2005, Ren Zixing invested150,000 yuan to acquire the 5 1% equity of Yahong Century. Although the transaction price is not high, the premium rate is equally amazing. At the end of 20 14, the net assets of Yahong Century were only 163438+05000, which was in a loss state. In 20 17, Ren Zixing acquired the remaining 49% equity, and the value-added rate of this acquisition was close to 19 times.