Associated arrears too much Lida photoelectric was ordered to rectify

Due to the excessive business related arrears, as well as some financial accounting and related accounting standards do not conform to such issues, Lida Photoelectric (002189) was recently ordered by the Henan Securities Regulatory Bureau rectification. According to the SFC's "listed companies on-site inspection measures", Henan Securities and Regulatory Bureau from December 6, 2010 to December 9 to the financial management of Lida photoelectric field special inspection.　　January 10, 2011, the company received the "About Lida Photoelectric Co., Ltd. to take orders to rectify the decision", the company asked the existing problems to standardize and rectification. The main problem of Lida Optoelectronics is that the amount of business-related arrears is increasing, which affects the liquidity of listed companies. As of December 31, 2008, December 31, 2009, June 30, 2010, the related party in Optical Group Co., Ltd., Nanyang Southern Intelligent Optoelectronics Co., Ltd. operating total owed to Lida photoelectric 17.9995 million yuan, 30.0781 million yuan, 52.7946 million yuan. The amount of business arrears of the two companies is increasing, which affects the capital circulation of listed companies.　　The SEC orders the company to tighten the collection of accounts receivable as stipulated in the contract and to safeguard the interests of all shareholders of the company. Second, Lida photoelectric according to the percentage of completion to confirm solar energy project income, cost, not in line with the accounting standards Income regulations.　　June 2010, the company based on the Nanyang Xin Public Investment Co., Ltd. Solar energy project progress to confirm the income of 5.38 million yuan, the provisional assessment of the cost of 6 million yuan, not in line with the cost of recognition conditions, more than the recognition of income of 5.38 million yuan, the cost of 6 million yuan. In addition, Lida photoelectric part of the financial accounting and related accounting standards are inconsistent or the company disclosed accounting policy does not match.　　For example, there are problems in processing accounts for commissioned materials, accounting for the depreciation of inventories and the related provisions of accounting standards do not conform to the bill of lading. It is reported that Lida Photoelectric commissioned Nanyang Southern Intelligent Photoelectric Co., Ltd. processing materials, the company in the financial accounting for sales, procurement processing, not as a commissioned processing accounting, not in line with the accounting standards.　　The company confirms that the income is based on the bill of lading, and the consignee on the bill of lading and the approving person for the company sales staff, the preparation of the bill of lading did not obtain the customer's signature or acceptance certificate.　　In response to the above problems, the Henan Securities and Regulatory Bureau requested Lida photoelectric seriously study the relevant laws and regulations, put forward practical corrective measures and rectification plan, and submitted a written report before February 7, 2011. Lida Photoelectric said that the company will actively look for the root cause of the problem, detailed description of the above issues, put forward practical rectification and normative measures, within the stipulated time frame to form rectification plan, and timely implementation of information disclosure obligations.