Guild Wars 2 Power Leveling

"Three-high" Hubei Yinfeng high inventory risk approximation to escape the hedge losses Downstream of the cotton industry continued to loss, meant that Hubei Yinfeng making enterprises difficult to find sales in the market space, only able to rely on hedging and acquisition of State-owned reserves, both of which are not too optimistic this year. "The journalists from the securities industry was also informed that the current market conditions are not conducive to cotton and enterprise development, Hubei Yinfeng cotton resistant to change in the short term high liability risk。 As an industry leading enterprise, future performance in Hubei Yinfeng cotton do? Taobao systolic high inventories to escape loss this week, Hubei Yinfeng insiders disclosed to the securities, "the company revenue higher cotton prices this year". Yesterday, the Soochow futures industry researcher in understanding the operating condition of the Hubei Yinfeng last year after the reporters of the securities analysis, "publicDivisions for 2011 sales accounted for only 20% per cent of State-owned reserves, have little coverage last year on the hedge. In the case of cotton products most of the digestive tract through the market, if you continue to slump this year, will certainly lose. "Hubei Yinfeng prospectus shows that June, 2009 cotton reserves Management Corporation of China is its largest customer. 2009 publicDivision to State reserve sales of 909.3775 million Yuan, sales income proportion 47.3% 2011 to sell State-owned reserves 943.3514 million Yuan gw2 power leveling, accounted for more than 22.37%. Journalist of the securities at the same time notes that in 2011, the company buys insurance coverage declined. Company's interpretation of this is, mainly due to the seed cotton purchasing strong seasonality, in cityLower ongoing cases, the introduction does not appear in the short term sharp price rises, buying hedge need to reduce, you reduce the buy hedge positions. However, the Soochow futures industry researcher said, operate in accordance with Hubei Yinfeng habits, current cotton inventories should be very high. In 2011 hedge reduced circumstances, these inventories in the spiral of falling cotton prices this yearCase, will definitely increase the company's costs. It is understood that the 2010 cotton about 30,000 dollars a tonne at the end of guild wars 2 power leveling, and cotton domestic standard grade about 18,350 Yuan a tonne, nearly half cut SB in two at the waist. Difficult high liability risk to enlarge while the cotton industry in the lower overall debt ratio is relatively high, rates of indebtedness however Hubei Yinfeng close to 90%, still have concerns cotton industryDevelopment of eyebrows. Corporate earnings showed that nearly three years report asset-liability ratio of the parent company, 94.27%, 88.86%, respectively. Company explained that the main reason lies in the cycle of cotton processing and marketing industry is not consistent with the fiscal year, so the end of the year, corporate debt will reach a maximum. However, even in cotton sales to repay debtPoint in time, the company asset-liability ratio remains in-60%. Aware of the securities, corporate debt reduced, dependent on increases in net assets on the one hand, the other hand relies on cotton sales return situation. However from the cotton trade in Anhui Province told reporters of the securities, downstream of cotton textile enterprises, since the beginning of the second half of last year was a loss, the situation in thisYears of continuity. China textile industry association's latest data also show that in January-April this year, national textile enterprises above designated size benefits declined significantly, nearly one-fifth per cent loss, loss-up 120%. "This means that lint sales this year is not going well, Hubei Yinfeng liability risk will increase further. "Soochow futures said.Purchasing difficult high expectations or hopes for domestic cotton enterprises, takeover of the State reserve is the most important. It is understood that between March 31 and September 8 last year, cotton GB level III purchasing fixed-price is 19,800 Yuan/ton. As the new year, acquired State-owned reserves have not started this year, but industry insiders are expected to purchase price of about 20,400 Yuan/ton, slightlyAbove the current market price. However it is worth noting that this is, and is not limited to buy last year, but this year the acquisition not determined. "Domestic stocks have reached high, certainly not unlimited, bought State-owned reserves, which impacts on cotton enterprises should not be overlooked, expectations are too high are clearly not appropriate. "Industry said. According to the latest data, current inventory of national cotton industry of about 1022,000 tons, an increase of 2.4%. The cotton industry considers that, in the real market, cotton enterprises difficult to obtain better development space this year, compared to 2009, unilateral, cotton fell to benefit hedge's situation, risk of futures market this year will also increase, companies such as Hubei Yinfeng profit decline is indisputable. 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