Prior to the August 27 evening, Xiamen listed companies Yinrun investment announcement, the proposed asset replacement and to issue shares through the purchase of the entire equity interest Chenguang Rare Earths, thereby transformed into rare earth smelting enterprises. This means that a high degree of capital market concerns regarding a new dawn rare backdoor "object."

According Yinrun investment announcements, preliminary estimates, the restructuring of assets to be set out the estimated value of about 206 million yuan, value-added rate of 27.16%; estimated value of the assets to be injected and up to about 1.311 billion yuan, value-added rate was 105.81%. For the difference between the estimated value of 1.105 billion yuan part Yinrun investment to Chenguang Rare Earths to purchase outstanding shares of all shareholders, issue price of 9.4 yuan / share, a total of about 118 million shares issued shares.

Run Investment Bank, formerly known as Xiamen Marine Fisheries Development Corporation, 1992 already listed. Listing, performance perennial appetite, renamed several times, in 2012 changed its name to Xiamen Yinrun Investment Corporation, when annual net profit was only 3.6886 million yuan. Run Investment Bank on March 20 this year, re-suspension, publish backdoor after the announcement, on the 28th restored traded on the 28th, the 29th consecutive daily limit, the current price of 11.62 yuan.

Old backdoor object issued notice to protest

Chenguang rare earth "cheating" behavior make them the old backdoor object S Shun Yuan very dissatisfied. 28 evening, S Shun Yuan issued notice illustrated with Chenguang Rare Earths dispute arbitration case, noting in particular S Shun Yuan has worked with major asset restructuring Chenguang Rare Earths signed a letter of intent, expressly agreed to the dawn of rare earth with any other third-party exclusivity clause of restructuring ; the current dispute in arbitration proceedings, the dawn of rare earth but also with another listed company to promote a major asset reorganization, contrary to the principles of market integrity, the company and investors have been adversely affected.

S Shun Yuan also written to the reorganization of intermediaries Haitong Securities, that its agreement with the company's services are still valid under the premise of the same asset restructuring of listed companies also provide services for the two listed companies, is the multi-agent behavior, serious violation of the securities industry, industry standards and practice discipline financial advisers to retain the right to take further legal action.

Last April 25, the company and major shareholders Shun Yuan Investment and Chenguang Rare Earths and its actual controller Huang Ping, signed a letter of intent significant asset restructuring, agreed to a major asset restructuring matters. However, 26 October 2012, the program was meeting's veto. Seeing backdoor blocked, this year on February 7, Chenguang Rare Earths and its actual controller Huang Ping issued a termination letter, declared a unilateral lifting of previously signed "letter of intent", and subsequently filed for arbitration, bringing the two sides in court. S Shun Yuan is considered a breach of contract is Chenguang Rare Earths, the Commission filed a counterclaim to the arbitration request to Chenguang Rare Earths continue to perform the contract and pay a penalty of 30 million yuan. Shanghai International Arbitration Centre in July this year, hearing the case, the results are not yet available. August 9 this year, Huang Ping Yuan and the letter S Shun Shun Yuan investment, tough stance known whether the outcome of this arbitration are no longer with the company a major asset restructuring cooperation.

Morning drop more than 60% of rare earth valuation

Last year Chenguang Rare Earths has tried backdoor S * ST Tianfa (ie S Shun Yuan) to April 30, 2012 as the Valuation Date, Ganzhou Chenguang assessed value of 3.34 billion yuan, and now more than a year, Chenguang Rare Earths valuation which fell more than 60%, currently only 1.311 billion yuan.

Why so violent valuation decline? This downturn in the past two years on the rare earth industry. According Yinrun investment announcement, the proposed injection of assets Chenguang Rare Earths 2011, 2012 unaudited net profit attributable to shareholders was 606,005,500 yuan and 81.1927 million yuan, totaling 687,198,200 yuan; profit after deducting non-recurring Net profit attributable to shareholders was 598,024,800 yuan and 81.9399 million yuan, totaling 679,964,700 yuan. Visible in 2012 net profit fell dawn earth was more than up. First half net profit of dawn earth 24 million yuan, is still falling in.

Since the valuation of serious decline, why did the morning rush rare backdoor listing? According to the reporter, the past two years, through a series of intense Chenguang Rare Earths and transfer of equity capital, once ready to pass through the IPO. January 12, 2012, the Commission decided to terminate the examination Supervision Department issued Gansu Rare Earth New Materials Co., Ltd. IPO application, so rare earth companies IPO overshadowed the road. IPO road to nowhere, before deciding backdoor listing Chenguang Rare Earths, and in the backdoor on the eve of the introduction of a number of intensive PE. Chenguang Rare Earths current shareholding structure shows that the company's actual controller remains Huang Ping, directly or indirectly holds more than 60%, Redstone venture, Baotou Steel Rare Earth, Qian Sheng venture capital, venture capital Honiton, Wei Tong and other companies to create wealth holdings.

Chenguang Rare Earth backdoor successful, is expected to become the first 34 plate A shares of listed companies in Jiangxi, Huang Ping, will also be more than 500 million yuan in Jiangxi new Regal.


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August 29 hearing, the Baotou Rare Earth Rare Earth Strategic Reserve first half of 2013 decreased 31.69%, while the general manager Zhang Baotou Rare Earth revealed in an internal meeting and will continue to do lanthanum, cerium and other elements of surplus reserves.

Baotou Steel Rare Earth 2013 semi-annual report, the strategic reserve (rare earth compounds) Ending balance Beginning balance decreased over 465 million yuan, a decrease of 31.69%, due to the decrease of rare earth strategic reserves.

Zhang held in August 23 report the situation and tasks within the company said at the meeting that the company tailings end of this year to achieve zero emissions, oxidized ore up to the mountain and the "three concentration" Speeding up the transformation project to completely solve environmental problems; do lanthanum, cerium and other elements of surplus reserves; steadily promote regional integration upstream earth; focusing on the development of rare earth functional materials.

Zhang on August 9, 2012, at the "Fourth China Baotou Rare Earth Industry (International) Forum", said rare earth reserves will increase their short-term costs, but rare earth prices have offset these costs and derive benefits .

Since November 2012, Minmetals Group, Baotou Steel Rare Earth, the color of shares have been listed on purchasing and storage of rare earths. Since July 2013, the purchasing and storage of rare earth on State rumors malpractice.


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Have you ever had the experience of receiving counterfeit do ? This experience , even though we are not experienced , but also talked about how to listen to the people around them . Or bank cashier at the mall , see the staff with the detectors identify money, seems to be very ordinary things , convenient and safe behind , "technology " is how to expose counterfeit veil ?

Put a blend a blend yuan into the fluorescence detector, UV light irradiation at 365nm fast inventory encounter counterfeit money detector will sound the alarm . The principle is very simple , the RMB is manufactured using special paper , while counterfeit usually treated bleached plain paper, plain paper by bleaching of ultraviolet irradiation, will Blu-ray diffraction of Yingying , the so-called " fluorescent response " , which touches alarm system, screening out the counterfeit. This is the use of " light-induced color reaction ," one of the most typical for anti-counterfeiting applications .

In this process , rare earth then played a key role.

PL spectra of rare earth behavior is often used in anti-counterfeiting technologies , these technologies are some counterfeiters are some superb grasp , forcing anti-counterfeiting technology advances not always kept up to date , ahead of counterfeiters . Therefore, in most cases , using a set of anti-counterfeiting technology, but also reserves , development of a new technology. Beijing Technology and Business University, Faculty of Science Professor Sun Jiayue has been engaged in anti-counterfeiting materials research and development , he has presided over the "ff fd electronic transitions with ultraviolet and infrared photoluminescence emission chromogenic anti-counterfeit marking materials " and other three Beijing Natural Science Foundation of China , around the continuously improve the technical Suimi of anti-counterfeiting materials , exclusivity and anti-attack capability and other aspects of the application of the basic work , described as " magic goes , the road climbs ."

Daily life, we usually put a variety of faint light are called " fluorescent " , few people would go carefully investigate and distinguish a variety of fluorescent light-emitting principle . " Fluorescence is a light emitting cooling phenomenon," Professor Sun Jiayue explains , in essence, is a kind of electronic transition emission phenomena .

Electronic transitions are constituent materials emitting particles ( atoms, ions or molecules ) an electron energy state changes. According to the principle of conservation of energy , the particle outer electrons from low level to a higher energy level transition process will absorb energy ; transition from a high energy level will return to a lower level in the form of fluorescence energy is released , fluorescent colors level corresponds to the energy difference between the two levels .

At room temperature, when a substance by one kind of incident light ( usually ultraviolet or X -ray ) irradiation, it will absorb the light from the ground state into the excited state , when the material from the excited state back to the ground state, will be in the form of fluorescent the excitation energy released. Once stopped the incident light , luminous phenomenon disappeared. This nature of the emitted light is called " fluorescence ." When the object by external light source to obtain energy, resulting in the phenomenon of luminescence excitation leading called " photoluminescence ."

The " Photoluminescence " is used for " banknotes " is a technology innovation. In all phenomena can produce photoluminescent material , the most important one is the rare earth elements. Rare earth ions have unfilled 4f electron configuration , has a rich spectrum of energy levels and long term life excited state , which can produce a wide variety of radiation absorption and emission . Constituted by the rare earth compounds of rare earth ions in the excited state, can be emitted from the infrared light , visible to the ultraviolet region of the electromagnetic radiation of various wavelengths , the light rare earths into a huge treasure.

"We are the choice of a particular rare earth ions as activator , R & D for ultraviolet or infrared light source rare start photoluminescence and the chromogenic material , thereby seeking to stable performance , high brightness materials , and synthetic printing inks, to determine the best ratio, ultimately making counterfeit labels applied to actual production . " Sunjia Yue said.

From the use of , the photoluminescent material is not limited to anti-counterfeit labels can also be used to produce electroluminescent materials, LED fluorescent powder , super long afterglow ( night out ) materials, auxiliary materials, solar cells , infrared up-conversion materials, electron capture materials, etc. , can be described as widely used. China rare earth industry in the world's resources reserves and production in the first place , however, the Chinese are about 2 /3 of the rare earth export outflows , and the prices of rare earth products has long been controlled by foreign businessmen .

" Rare is very important to our country 's mineral resources, mainly as a raw material exports of rare earth in the past , especially as the lack of features , and low-tech products of blind production , resulting in China's rare earth product characteristics of small differences , which are on the China's rare earth resources, resulting in a great waste and only focus on the development and high-tech rare earth functional materials, will put China's rare earth resources into production advantages, the technological advantages into economic advantages , rich riding . " Sunjia Yue said.


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China Rare Earth offer for the Japanese began to rise. In early August quote dysprosium and neodymium mid-June than recent price about 40% higher. Chinese Government to strengthen the ban illegal mining products, estimated future needs will be further strained.

Neodymium towards Japan Quote As early as 8 around $ 95 per kilogram, up 36 percent compared to June, and some even offer about $ 100 per kilogram. Dysprosium is around $ 700 per kg, 40% higher than in June. Praseodymium neodymium praseodymium mixtures and the prices are rising.

China factory inspection by going to strengthen the illegal exploitation of goods banned, some analysts believe that future supply will be reduced. Chinese magnet manufacturers stepped up purchases, leading Chinese domestic prices, but also reflected on the daily quotations. According to information provided by other Japanese trading companies, the Chinese government's policy is to ban activities will continue until mid-November. But Japan's magnet alloy manufacturers currently adequate inventory, the trend has not yet appeared eager to purchase.

Made in China, the price of rare earth exports to Japan in July 2011 reached a peak of neodymium prices rose to around $ 460 per kg, followed by declining to June this year, less than one-fifth of the time.


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