129834176565577500_143Wuxi xuelang environmental technology Corporation on May 25 in the SFC Web site after the initial prospectus disclosure gem, its vast amounts of financial data changes caused by the question of professionals, reporters on May 28 to the company to outline an interview related questions, to which the reporter the next day claiming to be snow wave environment a third party bridge PR telephone company personnel, said the company received an outline
Rift Platinum, but notIn response, discuss with the companies, investment banks, by its reply on his behalf. Explain the PR company on the relevant issues, and guidelines for journalists read prospectus page. Reporter has been concerned about the related explanations of the prospectus, but failed to clear up doubts, this time read more numerous doubts. Secret of the cash flow changes xuelang environment primarily for garbage power generation enterprises andFlue gas cleaning and ash handling system in iron and steel enterprises to provide equipment. Prospectus disclosure, Xue lang environment 2009 net profit respectively, 2006.9, 50.824 million, HK $, compared with a net cash flow from operating activities amounted to $ 5853.31-1398.44,. Professional questionsThese data anomalies: 2010 and 2011 cash flow-$ 3.0322 million total, and totals $ 83.8422 million net profit in the same period the difference is huge. Snow wave environmental prospectus on this interpretation: the 2009 cash flow from operating activities of the company for $ 58.5331 million, mainly due to the effect of pre collection, due 2009Year new orders amounted to $ 434 million in 2008, representing a sharp increase of $ 218 million, advance accounts payable balances in late 2009 2008 growth in 2010 and 2011, net cash flow from operating activities of the company-$ 13.9844 million and $, mainly due to increased corporate orders, Increased scale of production inputs, confirmation and payment of the revenue from circulation due to timing differences. Professionals think that interpretation seems barely, many companies use this exception to cover cash flow and net income. At the same time as those reported on the balance sheet of the company and the other a question. According to this explanation, you can calculate the companies charged customers contract of orderCollection ratio is around 23%. Xuelang environmental prospectus said companies last year signed the order amount of $ 434 million
Diablo 3 gold, $ 415 million and $ 546 million, respectively, shown on the balance sheet of the company, from 2009 to 2011-accounts receivable, 88,747,095,.44, 83,835,280,.48, respectively. FromThese data can be calculated, with the exception of 2009 pre collection other than order amounts by reached 20%, only about 15% in 2010 and 2012, respectively. Is the contract of the company policy has changed, is also due to the 2009 figures are too great, so that for the last two years of financial loss? Professionals have pointed out that, in conjunction with other data can be found,Company 2009 "lucky" to receive an additional 218 million orders and 50.8 million of cash after the big cake, operations may not work out, two years after-$ 3.0322 million total net cash flow, but profits still rub rub on the report on channeling, companies need to do more work to modify these clear bruising. Profit growth of suspicious xuelang environment offeringCollection disclosures, company revenues during the reporting period by the cent in 2009 increased to $ per cent in 2011, compound annual growth rate of 27.51%; attributed to owners of the parent company's net profit increased from $ per cent in 2009 to $ per cent in 2011, compound annual growth rate of 5 per9.14%. From nearly three years of new orders, the company's business development
Rift CD-key, except for Magic blast 2009 orders increased 1 time, 2010 orders y/y even fall, 2011 year of impact listed on crucial growth only 30%. Under the company's outstanding earnings growth data, actual money-making ability. And the snowApproximate Cheng Yun shares environmental business gross margin respectively in 2009-2011, and, 33.69%, Xue lang environment 6% and higher. Below the average market performance, profit growth is unusually beautiful, what is the secret? Snow wave environmental prospectus disclosure, 2009-2011 company accounts receivableNET dollars, $ 70.954 million and $ 65.5263 million respectively, notes receivable $ 685.9, 987.1,. The two sets of data may explain xuelang environmental mystery of high profit growth: companies in the past two years accounts receivable and notes receivable 44% annual increase, far more than the revenues in the same period 27%Growth rates. Accounts receivable and notes receivable for 2011 totals $ 142.7264 million, up surge 76.6%. "This shows that the company has the potential to advance sales and customer consultation, confirms 2011 sales and profit in advance, arrested for profit. "Professionals have pointed out that, in fact, has not received any customer the purchase price of the company. "This section explains whyCash flow declined in recent two years. "It is worth mentioning that, Xue lang environment during the reporting period the primary products of the highest gross margin in ash handling system of equipment marked reduction in share of revenue in absolute terms and, but the company's consolidated gross profit margin remains up year after year. Prospectus showed that ash processing system gross margins increased by the cent in 2009 toPer cent in 2011, but their share of revenue has dropped from 66.54% to 37.68%; another flue gas purification systems equipment gross margin fell from per cent in 2009 per cent in 2011, share of revenues rose from 15.62% to the cent. Gross profit and gross profit margin in a table of business reporterFound an odd data: 2011 other products and other business for the gross profit of the company and 4.44%, both product gross margin was up to and 100%, respectively. Experts say, regardless of what products to achieve gross margin of 100% is a miracle! Both of these products in 2011, the company's gross margin growthWork very well. Retrial and wave-stock snow environment shown on the balance sheet, from 2009 to 2011, company stock, and $ 39.61 million, respectively, $ 96.79 million, inventories rise far exceed revenue and growth in orders, this change is challenged by an wide spent by public opinion. Prospectus of the company on high inventories is interpreted as the company continuedGrowth, due to the raw material and products remain at a higher level. "Details of the scale of production and all reasonable shelter. "Professionals have pointed out that, if the growth is not of high quality, the scale also makes very much sense? Compare with Cheng Yun shares a similar business, Xue lang environmental inventories of assets than the significantly higher. Xuelang environmental inventories accounted for three years earlier the respective proportions of total assets14.09%, and 20.15%, company stock assets than rising year by year and Cheng Yun 2010 pre-IPO-stock inventory assets of more than three years, only 18%, and the downward trend. The last two years, Beijing Games stock inventory has been maintained at around 13% per cent of total assets, far less than the snow environment. High inventories, accounts receivable andBill a huge, negative cash flow or annual decline, this is snow wave environments to regulators and investors to provide a prospectus after dressing up, and more suspicious circumstances are also hidden.
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