Green Earth false billion level error up to 12

March Spring City Kunming, Sunny. The thick vines "closed" the green Earth headquarters, but the cloud shrouded. March 17, Yunnan Green Earth Biological Technology Co., Ltd. (002200.　　SZ, hereinafter called "Green Earth") Chairman He Xuequ was arrested according to law.　　Securities regulators from the green earth last year, "spoof" A quarterly bulletin to start, trace, found that the original chairman of the company He Xuequ suspected criminal matters. However, the green Earth does not want to touch He Xuequ arrest matters. "The leaders are too busy to be interviewed.　　"Green Earth Securities Representative Sun Yangze March 22 on the other end of the line, said the company's original chairman He Xuequ was arrested by the public security organs, the current pending results, then the announcement." China Securities Regulatory Commission website March 21, said the information, the SFC in March 2010 because of green land suspected information disclosure violation of its case for inspection. Administrative investigation found that the company is suspected of virtual increase in assets, virtual increase in income, false increase in profits, and many other illegal violations.　　Due to suspected criminal offences, in September 2010, the SFC transferred the case to the public security organs, public security organs of the formal investigation. Green Earth on March 18 announced that March 17, 2011 Night the company was informed that the company's controlling shareholders, chairman of the He Xuequ for the suspected fraud issue of shares, approved by the local procuratorial organs, on the same day by the Yunnan Provincial Public security organs to execute the arrest.　　The case is still in the process. The wall of barren hills: 1268 yuan per meter green ground is located in Kunming Economic and Technological Development Zone (hereinafter referred to as "Kunming Development Zone"), hidden in the impenetrable vines woven walls, around the wall to walk, faintly can see several workers in the building malcontent some plates, plate some diameter of about 10 centimeters of glass cans.　　The glass jars have not been loaded with cultured soil or culture fluids and are empty. Due to the current refusal of the relevant parties to interview, it is difficult to determine the specific He Xuequ crimes.　　However, a careful reading of the prospectus of the Green Land IPO in 2007, the actual value of many of the assets is questionable. According to the instruction, as at June 30, 2007, the net fixed assets of the green Earth is 50.6635 million yuan, the company's office building in Kunming Development Zone and other fixed assets amount of 9.4259 million yuan, a total of 26.5 acres of land, its headquarters in addition to housing, roads and court before the green "outside Ping, ditch", Also priced 1.0766 million yuan.　　This reporter March 22 at the scene to see, its office building after a few seedlings plastic shed, these greenhouses have about 1.3 meters between the interval, part of the channel depth of about 25 centimeters.　　Another fixed asset "maming base" wall of fixed assets value of 6.869 million yuan, the prospectus showed that the base 4 land (formerly Barren Mountains) a total of 3500 mu, if its wall only around the perimeter of the block, converted down, its price per metre of the fence as high as 1268.86 yuan. In addition, the maming base of 3 deepwater wells also cost staggering, accounting for 2.1683 million yuan in fixed assets, 72.2 per mouth value70,000 Yuan.　　In another deep well in the prospectus, the sham shui well at the Golden Temple is worth only 81300 yuan, and the price is nearly 10 times times the difference.　　Financial statements: Before and after the difference of hundreds of millions of yuan the official information of the SFC said the green land is also suspected of falsely increase income, false increase in profits. The trigger for the green Ground is the quarterly bulletin of the company in March 2010. This is an amazing quarterly report: April 28, 2010 forecast basic earnings per share of 0.27 Yuan, April 30 officially issued a quarterly earnings per share unexpectedly only 0.1 yuan.　　Two days of difference, operating income, net profit, earnings per share "plunged".　　As the green Earth in recent years in the quarterly, annual reports of "cramp" symptoms, securities regulators from its March 2010 quarterly disclosure after the investigation, the result is "eye-opening", financial reports can be so arbitrary.　　Green Earth June 17, 2010 released "On the 2010 Quarterly report correction differences in the special note" shows that its original quarterly business income of less than 100,000 yuan, operating profit of more than 675700 yuan, net profit of more than 525,700 yuan. Its 2010-year quarterly fixed assets of more than 59.8367 million yuan, should pay more than 62.9575 million yuan. Green Earth to this explanation is that the difference in fixed assets is due to "failure of work", the Beijing branch of the fixed assets are included in this part of the report, and it is included in the consolidated report (that is, 2 times), resulting in a virtual increase in the project.　　But these big mistakes and mistakes don't seem to be enough, and the cash flow statement is ridiculously wrong (see table).　　In its 2010 quarterly bulletin, only cash flow projects were combined with as many as 27 errors, of which 8 errors were tens of millions of yuan, and hundreds of millions of errors were up to 12.　　Another doubt is that the green Earth in the 2010-year quarter of the sales of only 59.8935 million yuan, why pay the tax as high as 302 million yuan?　　Another major difference in its cash flow is under the "cash flow generated by fund-raising activities": cash received from borrowings, cash inflows from fund-raising activities, cash payments for debt repayment are 157 million yuan, 157 million yuan, 614 million yuan, respectively, after correction are blank. Did the green land borrow 157 million yuan in cash? 614 million yuan debt or not? Why is there a huge amount of fictional data?　　The reason is unknown.　　In addition, the company's fund-raising activities here cash outflow subtotal difference of 608 million yuan, the cash flow generated by the net difference of 452 million yuan, cash and cash equivalent net increase difference of 705 million yuan, which three after being checked are revised to tens of millions of yuan. The doubts and the green ground from being looked up to now, has been using the term "alleged disclosure violation" to define its recent financial reports and the performance of the annual report.　　However, the SFC and the public security departments at present to its characterization is suspected of criminal offences. Current information shows that the company does not have only a 2010-year quarterly issue of similar problems. In the last 3 years, the company's annual report,A similar situation occurs in successive situations. SSE in the July 9, 2010 "On the Yunnan Green Earth Bio-Technology Co., Ltd. and the relevant parties to the punishment of the notice" that the company's "2008 Annual report of major accounting errors, the sale returned to the account processing."　　The green land did not count the 2008 returns into the annual report.　　After investigation, the company disclosed in the 2009 Annual report of April 30, 2010 the following correction of major accounting errors: retroactive adjustment to reduce the 2008 merger and the parent company operating income of 23.4852 million yuan, of course, the year's unallocated profit also decreased by 10.384 million yuan.　　The financial means of the green Earth, by 2009 has played to a new height, set the annual report of the Chinese securities market face record: October 2009 ~2010 years April, the Green Earth revealed the performance of the notice and Express has five degrees repeatedly, by the prior increase of billion, changed to the last huge loss of 150 million yuan. October 30, 2009, the company released the 2009 Quarterly report, estimated 2009 annual net profit growth 20%~50% (its 2008 net profit of 86.77 million yuan).　　January 30, 2010, the company announced that the 2009 net profit growth revised to 30% lower than the previous year, a major turnaround. But when the company released its 2009 annual performance letters for the third time February 27, 2010, the net profit turned to $62.12 million. April 28, 2010, the Green land also revised the net profit to a loss of 127.96 million yuan, again a big reversal.　　April 30, 2010, the official release of the 2009 annual report, the company 2009 net profit fixed to a loss of 151.23 million yuan.　　At present, the SFC on the Green Ground "information disclosure violations," the Ministry of Public Security door to the green earth "because of alleged violations of disclosure, not disclose important information" is being investigated, He Xuequ holdings of green land 43,257,985 shares of restricted circulation shares also on December 20, 2010 by the Public security organs of the law frozen. The case of He Xuequ and green earth is still questionable.　　He Xuequ was a "flower girl", relying on flower business to earn the first bucket of gold, into the horticulture industry, June 1996 spent 1 million yuan to set up the Green Earth's predecessor, Yunnan Estuary Green Dadi Industrial Co., Ltd. Selling flowers, gardening nearly 20 years of accumulated wealth, far less than to do a company on the SME board, an instant "zoom in."　　Green Earth's shareholders have a Chinese translated as "Treasure Land Enterprise Co., Ltd." foreign companies, but the company and several other investors before the intervention of the same shareholders, in the June 2009 after the disappearance of the other green Earth executives in this time node has gradually reduce the set. Earlier on the network of the Securities Regulatory Commission of Yunnan Province, the director of the Fan Hui of a photo and net text, said that the price of their bracelets. Another network posts speculation He Xuequ and Fan Hui close relationship. SFC March 21 in response to He CoWhen Kwai was arrested, he also responded to the issue of Internet postings. The Committee "immediately organized the content of the network posted a serious investigation and verification." After investigation, the contents of the net post are purely fabricated and completely inconsistent with the facts. The network post through the virtual mailbox and mobile Internet to send anonymously, after identification, network posts attached photos are artificial synthesis. "The sponsor of the Green Earth case, the sponsor, the accounting firms that have been regularly replaced in the last three years, almost every year before the annual report, have remained silent, but if the" three crimes "of the He Xuequ and the green land case were finalized, the intermediaries would also be in trouble.