129792403209062500_328Kang facing super poor quality performance footwear bottom peers or pay a tax one has evaded
In September last year, applications for sports footwear first agreed, has listed only after six months due to market concerns. Today, on April 18, AO Kang shoe purchase, but investor concerns about the company's future business prospects. To the reporter of the gold stock investor Mr Wong pointed out that "leather shoes, leather goods not belonging to the State lists the key support areas of high-tech industry, if higherNew qualification to cancel, means that the AO Kang shoe to pay income tax at a rate of 25%, instead of 15% discount rates can be obtained as before, fate is like. "This Olympics sports shoes and not given a positive reply of the gold stock reporters. Poor quality, high-tech: or faces Super pay a tax one has evaded one-April 12, 2011, the top "high-tech enterprise" auras, ZhejiangBay landing small due to the United States. However, only half a year, company tax authorities issued the "ticket", needs to pay taxes 2008, 2009, amounted to $ 58.927 million. According to the beiyinmei disclosure of information, national tax Bureau of Zhejiang Province, according to the Audit Commission on 2009 audit of the tax collection and management decisions, audit finds, Beiyinmei in 2008 to declare when a high-tech enterprise qualification, three years before the actual investment share of the sales revenue for only the cost of research and development 0.65%; and report inventions patented core technology and its main products are not directly related. High-tech enterprise income tax relief in 2008 and 2009, and to tax 58.927 million Yuan. "KangShoes leather shoes, leather does not belong to the field of high-tech, I am very worried about future financial condition of the enterprise. "Mr Wong said. The gold stock reporter noted, Kang shoes leather shoes, leather goods production does not belong to the national support of high technology support in the field of electronic information technology, biotechnology and new medical technologies, eight major areas such as aerospace technology. As atOn June 30, 2011, the company number 242, 3.21% per cent of the total number, this high-tech enterprise requirements and 10% far; degrees
tera gold, Bachelor Aucamp shares of only 250 people, than 3.32%. First half of 2008, company research and development account for revenues respectively, 0.16%, and 1.05%,; well below the percentage of research and development of 3% provisions. "More enterprises in Jiangsu and Zhejiang, Guangdong, many are low-end manufacturing, is locked in the lower end of the industry chain, a very important due to a lack of investment in research and development. "One expert said. According to the prospectus, first half 2011Year and in 2010, the AO Kang shoes in accordance with 15% the enterprise income tax rate of $ and $ 64.562 million respectively. If calculated based on the rate of 25%, respectively $ 107.6033 million and $. In this calculation, Olympics sports shoes two years pay less income tax because of access to high-tech enterprise qualification 1.1$ 600 million. A single shareholder: gross margins low and sluggish AO Kang shoe Chairman Wang Zhentao proportional control company, its direct and indirect stake in holding company 76.15%, a total of 244 million shares. The reporter found the gold stock, according to the current issue price at $ 25.5, Wang Zhentao stake could fetch as much as more than $ 6 billion, can definitely ranks among the forefront of the China rich list."Pre-IPO high-tech enterprise qualification is clearly flawed, after listing, a single shareholder General Assembly will not be difficult to guarantee performance? "Mr WONG expressed concern. The gold stock reporter noted, current lowest gross profit margins in the industry of sports shoes, lack of profitability. Aucamp prospectus disclosure of data display, 2010 gross margins are 47.38%, aokang only 3261%. From 2008 to 2010, Olympics sports footwear gross profit margin, 24.96% and 32.61%, respectively, it is far less than the listed companies in the industry. It is understood that the 5 listed companies in the same industry, nearly three years minimum of gross margins, respectively
tera gold, 44.87% and 47.38%, respectively 64.88%, 6And 5.42%. In addition, from the perspective of performance on the growth, aokang 2009 revenue growth compared with 2008 54.51%, in 2010 compared with 2009 growth 32.64%; net profit in 2009 compared with 2008, an increase of 363.04%, in 2010 compared with 2009 growth 39.75%. Stand contradictions: strategic confusion was put on flaws? Yesterday, one of the gold stock investors to reporters, in institutional road show on tour, aokang high qualification, enterprises simply says, its only 18 companies is a high-tech, involving more than 2 million worth of tax incentives is expected to continue to target. However,Whether as the company said, due to the absence of more detailed information cannot be tracked.
The gold stock was informed that, on a tour, aokang side stressed that markets exaggerated the company of high-tech issues and at the same time inadvertently exposed a prospectus on the part of the data. According to the information provided by the institutional investor promotion meeting, Chairman Wang Zhentao Aucamp said, "as the next store andExpansion of sales, production may decline, only 30%. "But the discovery of the gold stock, Aucamp said in a prospectus, in the last three-year period
tera power leveling, scale, 85.27%, and 46.7%, respectively. Prospectus 1-1-138 pages, Kang shoe claimed that: "the company will retain its own corePlant and accordingly with the growth of product sales and expanding core of factory production scale, We produce over at 40% per cent of total product sales. "" Inconsistent, corporate disclosure on Earth is rough, is the strategy of confusion? "It said puzzled. This reporter asked from the company, but ended before the press had still not received a positive reply. ��Gold stock journalist will continue to monitor the company's replies to these questions.
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