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最近用友软件公司的10派6元(含税)分红方案一出,舆论哗然,指其让人感到中国中小股民的“悲哀与无奈”。有评论说.用友软件大股东以8000万元出资,而这8000万元是经过评估增值后的资产,实际上大股东们并非真金白银拿出十足8000万元,然而,他们一年就分得红利4500万元,王文京持股73.6%,一人独得3321万元。持有用友流通股的中小股东买股票花掉20亿元,但是按其股份分配只能得到1500万元。前者收回投资只用2年,后者却需用133年,前者的市盈率为2倍,后者的市盈率却为133倍。错在哪里?个人投资是为了赚钱,资本的目的是为了增值
Recently, UF Software’s 10-paying 6-yuan (tax included) dividend plan came out. Public opinion was awe-inspiring, referring to the “sad and helplessness” of Chinese small and medium investors. Some commentators said that UF Software’s major shareholder contributed 80 million yuan, and that 80 million yuan was assessed as a value-added asset. Actually, major shareholders did not use real gold and silver to produce a full 80 million yuan. However, they are divided in a year. With a bonus of 45 million yuan, Wang Wenjing holds 73.6% of shares and one person wins only 33.21 million yuan. Small and medium shareholders holding UF’s tradable shares spent 2 billion yuan to buy shares, but they can only get 15 million yuan according to their share allocation. The former only takes 2 years to recoup the investment, while the latter needs 133 years. The former has a P/E ratio of 2 times, while the latter has a P/E ratio of 133 times. Where is wrong? Personal investment is to make money, and capital is to add value.