129771772389624810_26Hexun homepage established mobile phone version of the stock/fund market for micro-blogging news blog live small company stocks the major new share placements by gem new third sector brokers New York themesBulletin deal prompted financial calendar results, lift ban on memo Finance Treasury capital flows the assessment centre is definitely big deals thousand unit new share purchase financing Twitter stock Moss Forum daily limit new shares of pioneer financial management training hexun.com > body font size print RSSMarch 25, 2012 from: Economic Review Committee made by the SFC 23rd rejected the small West dairy cattle in Qinghai company limited (hereinafter referred to as "little West cattle") IPO application.
Small cow landed West of Shenzhen Stock Exchange small dreams temporarily dashed. According to public information, is a small West cattle dairy products research and development,Production and sales of the main business, with local characteristics in dairy production enterprise of the Qinghai-Tibet plateau, the core product is the "Qinghai traditional yogurt", "hidden treasures of Highland barley" yogurt and grain "Thallen Bo" pure milk. However, in 2008 dairy industry is "melamine" effect when little xiniu was like "outsider", operating margins and other financialIndicators and Queen shares (600,887, unit) (600,887), and mengniu dairy (02319. HK) listed companies to larger differences suspected anthropogenic regulation of financial indicators of the company.
The causes may be the company's IPO was not important. In addition, the mystery attached to stakes of shareholders of the company, and control the person close relatives are occupiedAnd so, that corporate governance structure is flawed. Calculating doubtful authenticity of various financial indicators deviated from the proposed prospectus shows that from 2008 "melamine" effect, dairy industry is a huge shock, in the form of industry listed company's operating margins fell sharply, 2008 shares, mengniu, yili bright dairy(600,597, unit) (600,597) are at a loss. "Melamine" make society pay more attention to food quality and safety, dairy industry in the country started reorganization under supervision, average operating margin in 2009, 2010 and 2011, respectively, 3.64% and 4.99%,Has increased year by year, but is still at a low level. However, enterprises are dairy products, "melamine" does not seem to affect the small West cattle. 2009-2011, the company's operating profit of HK $ 15.2033 million, respectively, $ 18.225 million, and $, 19.08% operating profit rate for the same period, 20., 74%, significantly higher than the industry.
While Queen shares respectively, 2.74%, 4.17%, mengniu dairy, 5.24%, 5.64%, respectively. At the same time, company sales cost rate is significantly lower than the industry. 2009-2011 of listed companies in the same industry sales chargesAverage rate per cent, 21.53%
swtor credits, 23.4%
diablo 3 power leveling, and over the small West cattle sales fee rates, 11.83%, 7.53%, respectively. In addition, the company's liquidity ratio higher than listed companies in the industry, while the debt to asset ratio is much lower than the same industry. 2009-2011 industry company flow rateAverage 1.99, 1.63, respectively, average value of assets and liabilities, 41.63%, 47.03%, respectively, and small West cattle flow rate respectively, 1.94, 4.9, asset-liability ratio, 34.69%, 16.7%, respectively. Small xiniu Lieutenant in the prospectusThese exceptions due to company is a regional dairy company, high profitability, sound less related costs, management, and so on. Industry insiders said in 2008, "melamine", the domestic dairy companies are huge impact, product selling, alternative industry rapid growth in production and sales. Small West cattle of various financial indicators are significantly higher than the listed companies in the industry, not tooCommon sense, its financial calculation of doubtful accuracy and authenticity. Surprise mystery shareholders stakes next of kin who occupied the proposed prospectus shows that in August 2010, the small West cattle company limited for the fourth venture, the introduction of corporate shareholders 2 FIR blue, Ding, Shanghai hengrui Kat and 3 natural person shareholder Chen, Rong Chen, Zhang Ruihai. These 3 natural person shareholdersEach hold stakes in companies prior to release, 4.86%, 1.44%.
Among them, current Director of Chen, Rong Chen and Zhang Ruihai ranked top natural person shareholder of the company. In accordance with the relevant provisions, the company should be described in the prospectus before the new identity of the natural person shareholders and above 5 years work experience, but Rong Chen and Zhang Ruihai, the company only describes theTheir ages and addresses, did not disclose its professional and experienced. Rong Chen, 36 years old, living in Huangpu district, Shanghai Road, zhaotong; Zhang Ruihai, 52 years old, residing in the yuanmingyuan West Road, Haidian District
swtor credits, Beijing. If small West ox was listed on, which holds a stake of quickly doubled. Industry insiders said, natural people in the company "will be" attached to stakes the previous year, its relationship with the company should beNot in General, does not exclude the transport of interest may be. In addition, the management layer for the actual control of the small West ox people of close relatives, this enables companies running processes exist in terms of risk of confusion, the scientific management framework doubt. Among them, actual control of the small West cattle artificial Wang Weisheng, holding 55.6%, current President and General Manager of the company; 9% Zhang yuqin holding his wife,Department Manager; his brother Wang Weijun holding 2.37%, Director and General Manager Assistant; his brother Wang Wei's stake in 1.18%, sector Manager; qixiong Zhang Shun it into a holding 0.47%, Department Manager.
In addition, his father, Wang Yingrong, their sister Wang YINHUA holds a stake of the company 0.71%, respectively. Proposed prospectus does not introduce Yuqin Zhang and Wang WeiHi, Zhang Shun into specific sectors, economic Herald financial researchers call the Siu Sai cattle, staff informed, Yuqin Zhang and Wang Weixi respectively and Logistics Manager, financial manager, said Zhang Shuncheng, said only a "General"? Inform does not disclose, so strange.
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