129773160478750000_72function quotePop(a,b){ window.location.href=b ".html";} Famous capital are famous masters of BYD's old tricks again, but this time, BYD's superb capital operation tactics in the IPO on the financial package. A decline of more thanAnnual reports of the four, when BYD IPO financial whitewash practices exposed in front of investors: in the case of basic stock size did not change, the company's assets for impairment increased more than 20 times overnight, only this one has eaten the company nearly 460 million Yuan profit of sth BYD's first annual report since the beginning of the list, released today, however at the beginning of this listing is to voteFunding hopes company to produce a very bad report card. Financial data shows that BYD 48.827 billion yuan revenues last year, up modest increase 0.78%; enabling 1.385 billion yuan in net profit of listed company of belonging, per cent plunge in 45.13% if after deducting non-recurring profit and loss, company net profit of 6.$ 2.9 billion, up is a contraction of 69.62%. Case of the modest increase in the revenue from core businesses, BYD and why is net profit shrank more than 45%, after deduction of nonrecurring profit shrink near 70%? In the reporting year, BYD will slump attributed the performance car market growth to fall sharply and under the large customer market share in the mobile phone businessSlide. This really true? From the report data is not difficult to see, in fact, BYD's main business during the reporting period there has been no noticeable change. Company annual reports, according to two of the company's main business mobile phone parts and Assembly and automotive manufacturing to take its share of the total revenue of 90%, however, both during the reporting period and still remain in business income growth andProduct gross profit margin only fell slightly, mobile phone business gross profit margin remains at 13.54%, just drop 0.42%; car business gross margin reached 21.68% or just drop 2.06%. "Company main business operation is not dramatic deterioration of the environment, and can be said to be very good,Effects used in this industry to explain the business shrank significantly, is obviously untenable.
"A private person who declined to be named said in Beijing. So, what reasons for a company annual reports profit plunge? This paper through the company financial data in the report is not difficult to see that the company's performance has shrunk, mostly because of its pre-IPO to financeExcessive packaging.
BYD reported cause of decline in their performance has two main reasons: one is the sharp increase in its assets impairment losses recognized; the second is a line of government subsidies and tax breaks shrank sharply. According to the company tax return last year and the amount of government subsidies reduced more than $ 450 million compared with the previous reporting period, this is leading to the deduction for non-recurring profit and lossProfits shrunk after 70% the main reason. However, BYD, more exciting way of IPO financial package it was to follow.
Annual report shows, BYD, 2011 make up to $ 485 million of asset impairments preparation, and previous reporting periods
swtor credits, that is, a year before the listing of the company, BYD has made only a mere 20.7 million worth of assets for impairment. However, journalistNote that although both made during the reporting period differs from the asset impairment losses of more than 20 times, but in fact, BYD scale inventories and accounts receivable has not been a significant change. It is understood that, at the end of 2011, BYD stock size was 6.596 billion yuan, and a report on the final is $ 6.538 billion; in addition, the company's accounts receivable and notes, there is no clear change. "In key financial data and large changes in the operating environment of the industry is not case, BYD loss of assets before and after making a difference more than 20 times, this is obviously very good, obvious signs of manipulation. "These analyses have pointed out that
diablo 3 gold," according to this year's 2010 year of preparation of standard financial statements, BYD just asset impairment losses recognized and Government supportTwo
diablo 3 power leveling, it reduces the profits of more than $ 900 million. If such performance to Sprint back to the a-share market, company listing prospects I'm afraid of difficult material ".
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