Chenzhou Mining IPO project profit not "pass"

Chenzhou Mining (002155. SZ) today announced the Hunan Securities Regulatory Bureau ordered to correct the decision book.　　This order to correct the decision on the disclosure of a number of companies in the financial, corporate governance problems.　　Orders to correct the decision to disclose the Chenzhou mining in the financial, internal control system, IPO fund-raising and the three operating four aspects of the problem. In finance, there are 8 major problems with Chenzhou mining. First, the company to the holding subsidiary to reduce the value of the preparation is not timely, not fully disclose the risk. Company holding subsidiaries in Gansu Chenzhou, Shaanxi Chenzhou, Xinda Mining, three-run Nano, Xinshao four-dimensional, baby 8th, Hebei Xin Feng 2008 and 2009 consecutive losses. Second, Sun Company's new Shao Chenxin continued operation is not clear, not to long-term investment in the full extraction of impairment. Third, not to the subsidiary company of Xiangtan Tungsten Industry division of the assets impairment of the value of the preparation of the relevant issues are not fully considered. Four is the receivable a bad debt preparation for inadequate, not in accordance with the unified accounting policy adjustment. Five is the company has not to large receivables to increase the strength of the collection. Six is the company did not part of the long-term ledger in the construction of the self-examination and timely carry-over of fixed assets. Seven, the company did not timely to the controlling shareholder and related party funds to collect and clean up.　　Eight is not strengthened subsidiary company Accounting Management. In raising funds, the company did not meet the 2007 first-round fund-raising project profit forecast. The prospectus predicts that all of the projects are up to the postpartum, the new sales revenue of 466 million yuan, the new after-tax profit of 186 million Yuan, the company 2009 to achieve operating income of 1.692 billion yuan, net profit of 101 million Yuan, respectively, below the earnings forecast of 2.65% and 69.58%.　　In addition, in the project, the company controlled the mineral resources of gold, antimony, tungsten ore resource exploration project has not reached the reserves forecast, Xupu Wang Jiang Gold Mine Resources Comprehensive Utilization project has not reached the profit forecast.　　In addition, in the internal control system, the Hunan Securities and Regulatory Bureau considers that there are 4 aspects of the company, including an excessive delegation of authority, the lack of a rigorous audit evaluation process for foreign investment or capital increase, the need to strengthen inventory management, and the need to improve and strengthen the fixed Asset management system. In the three-meeting operation, Hunan Securities and Regulatory Bureau that the company has two aspects to be rectified. This includes further standardizing the procedures of shareholders ' meetings, meeting records and information disclosure, urging directors and independent directors to perform their duties responsibly, and disclosing the relevant work of the Board's professional committees in the annual report, and giving full play to the supervisory and decision-making functions of each professional committee.