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WanFuSheng department chairman says don't want to concoct fiction performance for leave a good impression

Posted Oct 30 2012 6:58am

Previous 25 evening, the company announcement said, 2012 half the annual report, virtual increase  Cheap Beats By Dre  business income is 188 million yuan, virtual increased operating costs 146 million yuan, virtual increase profit is 40.2316 million yuan, did not disclose in the first half of the company production matters.

Its real performance for, revenue of 82.1694 million yuan, with
Related company stock movements

Ratio decreased by 64.61%; Net profit - 16.412 million yuan, up 157.86% decrease.

"The hunan company courage also too big!" On October 28, A gem company executives to our reporter regrets, "a-share market, haven't seen financial fraud so rampant company, so far it nature are very serious".

"The company itself is not simple, listed by the end of last year, in shenzhen to the  Cheap Beats By Dre  company bell is, yuan longping, academician." A source told reporters.

"We don't want to give a bad impression for the investors well, although also don't want to do (financial fraud). We prospect is good, the subsequent development is good." On October 28, chairman of the board of directors GongYongFu WanFuSheng families to our reporter said.

Exaggerated false

Lies a world looks very beautiful.

On August 23, WanFuSheng department released 2012 annual report and a half years, the report period, to achieve the company revenue of 270 million yuan, a year-on-year increase of 16.18%; Net profit of 26.5532 million yuan, reduced by 14.84% year-on-year. On the same day, WanFuSheng section rose 2.38%.

Contrast  Cheap Beats By Dre  corrected announcement, can discover, WanFuSheng families in the semi-annual report false traces everywhere areas the main income data, the first five big customer transaction data, construction in progress input data, etc., are exaggerated or even adjust.

For example, in the first half of 2012 the company in hubei area and no actual revenue, but be adjusted after, hubei area of revenue in the first half to 2.6552 million yuan.

"It also reflects the problem of agricultural company, its way to trade some are very primitive, even if really performance cheating, single look after the adjustment performance report is not easy to see through." A person close to the shenzhen told reporters.

Performance decline is the basic driving force of fraud.

"We raise funds (circulation economy rice production lines for deep processing projects) will continue to reform, have to suspend production." On October 28, GongYongFu explained to reporters, plus local and in the first half of it has been raining, leading to a delay time limit for a project, so the performance decline is very severe.

In particular, the company offering for project general rice  cheap dr dre beats  production line in the first half of 123 in total shutdown day. Polished rice production line accumulated production 81 day. Starch sugar production line accumulated production 68 days.

On October 29,, the company complex brand at the same time issued a 2012 three quarterly report. In 2012, 7-9 months, the company business revenue of RMB 98.645 million yuan, up to reduce 39.53%; Net profit of 12.7443 million yuan, reduced by 36% year-on-year.

The financial director exist in name only

Semi-annual report shows, the principals GongYongFu, chief accountant working controller QinXueJun and accounting institution principals (accountant in charge) LuXiaoQing statement: ensure semi-annual report financial report true and complete.

Nowadays, the need to the existing "false records or major omissions" report of the directly responsible for, it is also the several people.

"The financial director whether want to finish this ran the chairman of the board of directors? Why can't control the financial director?" This is the gem company executives heard WanFuSheng family event first reaction.

In fact, in the beginning of QinXueJun founded and responsible for finance, and GongYongFu relationship bandit shallow.

Born in December 1956 QinXueJun, female, college degree, once was appointed TaoYuanXian bearing plant technician, TaoYuanXian hail rice plant competent accounting and so on, as early as in 2003 May has to join our company.

"Since the first half of WanFuSheng families performance report can make so exaggerated adjustment, have to let a person doubt, prospectus is also had a similar problem?" The gem company executives said.

Listed before, WanFuSheng section is far higher than counterparts because of its high growth rate and been questioned. Prospectus shows, 2010, 2009, 2008 three years in a row, the main business for the starch sugar products and edible class m product WanFuSheng division overall gross profit rate is about 23%.

The chairman of the board dictatorship "soil way" management company

"WanFuSheng families the company, basic is the chairman of the board GongYongFu a person have the final say." One has to WanFuSheng department checks investment personage says to the reporter.

GongYongFu and his wife YangRongHua tied for the first big shareholder, actual controller, the two aggregate hold 59.98% of the shares.

Born in August 1959 GongYongFu expert was born, in 1976 to 1980 in guangzhou military region and army TanKeTuan service, meanwhile to participate in our self-defensive counter-attack, heroic injured, was named very disabled servicemen.

Since then, 1980 years after GongYongFu gathers to 1994 in TaoYuanXian busy town grain supply center work; In 1995 TaoYuanXian food system restructuring and began to start their own businesses; In 2003, the predecessor was founded WanFuSheng department of hunan LuWanFu.

According to the investment sources, and GongYongFu once in a business dinner says, appear on the market when you decide not to management award equity, is don't feel should give, have to wait until the development of the company, profit to a certain degree and the stock ownership incentive to consider.

"GongYongFu speak very straight, he thought, as they that enterprise or soil way more work, don't the modern enterprise system that set of things. He concern is that this group of executives suddenly have so much money, he didn't know what to do, may be adventurous." The investment personage says.

Another with WanFuSheng section about business people to tell a reporter, WanFuSheng section listed, originally established in accordance with the provisions of the accounting ShiWuShi, securities ShiWuShi, etc., but then some combination, some still changed to the bathroom.

"The company doesn't like the company claims of high-tech concept company should have the same." This personage says.

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