Shanghai New Time Tatsu subsidiary was accused of posing as a Sino-foreign joint venture

Economic Herald reporter Shi Xianliang listing can be rich overnight, but pay the price is "must take off their own naked."　　If you do not go public, some lies can always be covered up; July 2, Shanghai new Time Tatsu Electric Co., Ltd. (Shanghai New Time Tatsu) IPO.　　However, before and after the meeting, a lot of careful investors in their joint venture with Germany questioned, the company a major subsidiary of the public profile and the company's pre-disclosure prospectus there are many contradictions. Subsidiary posing as "Sino-foreign joint venture" prospectus shows that Shanghai new time is the largest elevator control system supporting suppliers, computer control Board (the core of the elevator control system) of the domestic market share of nearly 3 years of stability in the industry first, 2009 domestic market share of 15.4%. The company's operating income for 2009 was 408 million yuan, with a net profit of 65.11 million yuan. The company currently has a total share capital of 150 million shares, proposed to issue 50 million shares.　　The company's actual control for the Ji de law, Liu Liping and Ji-yi, including the Ji de law and Liu Liping relationship, Gui is two women, three total holding the company issued the first 52.08% of the shares. Shanghai Singrinna Motor Co., Ltd. (referred to as the Motor Company) is one of the major subsidiaries in Shanghai, in accordance with the introduction of the prospectus, The Electric company was founded on April 19, 2006, registered address for Shanghai Jiading Nanxiang Town, the legal representative for the law, registered capital of 10 million yuan, operating range of " Mechanical and electrical equipment parts production and sales.　　"Up to now, the structure of the shareholders of the electromechanical company is: Shanghai new time amounted to 9.5 million yuan, accounting for 95% of registered capital; Shanghai new Time Tatsu Software Technology Co., Ltd. (Shanghai new Time Tatsu wholly-owned subsidiary) to invest 500,000 yuan, accounting for 5% of the registered capital.　　At the end of 2009, the total assets of the motor Company were 24.54 million yuan, net worth was 11.66 million yuan, net profit was 4.11 million yuan.　　Economic Herald Reporter Read the full text of Shanghai new time, did not find the electrical company and German companies, German technology has any relationship. But on the Motor Company website, July 2 still have such a brief introduction: Germany Singlinna Electronics Co., Ltd., is the German electric control and drive industry well-known enterprises. Products are mainly used in the field of defense industry drive and motion control. In order to transform cutting-edge technology into civil industry and open up the global market, 2006 Germany Singlinna Electronics Co., Ltd. and Shanghai new time Tatsu Strong cooperation, a total investment of 500 million yuan, in Shanghai to build a world-class drive and movement control product development and manufacturing base, set up a motor company.　　The company has also deliberately demonstrated that it will use German technology, German quality, to provide you with industrial control and drive the field of first-class products and perfect solutions. If the advance disclosure is true, then the propaganda on the Motor company website obviously has "lying" suspicion. The electric company two shareholder all is the domestic company, how to with the German company powerful cooperation? At present, the total assets of the company is only 24.54 million yuan, and how to "total investment 500 millionYuan "said? "Germany Singlinna Electronics Co., Ltd." is not appearing in the full text of the "well-known German company", but the company's English name (ANTON sigriner INDUSTRIE elek-tronik GMBH) appears.　　So what does the German company, which is touted by the electric Company as "a well-known company in the German electric control and drive industry"? As described in the prospectus, ANTON Sigriner INDUSTRIE Elek-tronik GmbH was incorporated in Germany on February 11, 1987. The company's registered capital was 50,000 marks (about 250,000 yuan) before being acquired by Shanghai's new time, and all of its equity was held by the Germans Herr Anton Sigriner (74%), Herr Tomas sigriner (26%) father and son. The company is mainly engaged in the production and sale of elevator control system, the main customers for Germany and the surrounding areas of Germany elevator machine manufacturers.　　In the year before the takeover, in 2002, the German company had a total assets of € 306,000 and a total liability of € 379,000, which was insolvent, and its operating income in 2002 was only 279,900 euros, with a net profit of 90,000 euros.　　Some investors said it would be too easy to become famous in Germany if a company with less than 280,000 euros a year would be a "well-known German enterprise". May 22, 2003, Shanghai new Time Tatsu to Anton Sigriner INDUSTRIE Elektronik GMBH invested 296,000 euros, of which 18917.80 euros as the acquisition of Herr Anton 74% of the shares of the acquisition,　　277082.20 Euros as an additional contribution to the German company, while another shareholder, Herr Tomas Sigriner, added € 97353.21 to Anton Sigriner INDUSTRIE Elektronik GMBH. Upon completion of this acquisition, ANTON Sigriner INDUSTRIE Elek-tronik GmbH name becomes more step Sigriner Elektronik GmbH (Germany Nova Sida Singrina Electronics Co., Ltd.), total investment and registered capital changed to € 400,000　　, Shanghai's new-Herr holds its 74% per cent stake and Tomas Sigriner holds its 26% per cent stake. October 22, 2007. Shanghai new-time Tatsu to Germany to increase the new time of 500,000 euros, Germany's new total investment increased to 900,000 euros, the registered capital of 400,000 euros unchanged.　　Meanwhile, the company's shares rose to 88.44% in new Shanghai. However, the"German well-known enterprises" after the acquisition of the operation is difficult, at the end of 2009, the company's net assets into 2.9953 million yuan, the former Shanghai new time to invest nearly 70 euros, but also owed the equivalent of 3 million yuan of foreign debt. Advertise "Germany" to fool people more investors have said that, from the new time in Shanghai has been a large number of public sales of the IASTA-S3 series of product brochures cover, the order of the company name labeling is: Germany Sigriner Electronics Co., Ltd., Electric Company. What's more, its home page has such a description: "Germany Sigriner Electronics Co., Ltd. authorized the electrical company solely responsible for the inverter German version of the translation, printing."　　"We have no idea why Shanghai's new-time-reaching customers in China should be prompted to do so," he said.　　Investors questioned, in their company's mainstream product specifications, the site appeared on the "German Sigriner Electronic Co., Ltd.", unexpectedly in its prospectus can not find any description of the company (no Chinese translation), this is what is going on? According to local media in Shanghai, in 2005, Gide, Shanghai's new-time chairman, said publicly in a review of the acquisition of German companies in 2003, "It now appears that the impact of acquisitions on the company in intangible assets and corporate philosophy is far greater than the role of technology-fed, and that overseas companies are still struggling to "In addition to fake joint ventures, some investors also pointed out that the company suspected of false capital increase, shareholder tax evasion, the lack of sustained profitability."　　Investors believe that some of the content disclosed in Shanghai's new time is not in conformity with corporate propaganda and the actual situation, and that regulators should further investigate the company's listing eligibility. July 4 Herald reporter found that the electrical company's Web site has not been able to log on, the network prompted the reason for "server can not be found."