Management confusion to the operation of the chaos of the ancient Chinese performance face huge loss more than billion

For the Purple Guhanshan (market, inquiry) performance by the profit turn deficit quickly face, some analysts believe that there is a suspicion of manipulation January 17, purple Ancient Han released 2013 years of performance notice, said the company report period net profit is expected to be-130 million yuan ~-1.5 billion, and last year the company profits 138 million yuan. According to the three quarterly report, Purple Guhanshan the first three quarters to achieve net profit of 1.03 million yuan, although a significant reduction of 98% year-on-year, but still in a profitable state. For the purple Guhanshan performance by the rapid change of the deficit, some analysts believe that there is a suspicion of manipulating performance. Subsidiary production and lawsuit against the loss of the main due to the results of the forecast, the company said because of the Hengyang urban planning adjustment, the company's wholly-owned subsidiary of the ancient Han group Hengyang Pharmaceutical Co., Ltd. (hereinafter referred to as pharmaceutical companies) will face demolition. In this reporting period, it is estimated that a total of about 83 million yuan is expected to be included in the loss of impairment of fixed assets, the loss of impairment of goods, the cost of employees ' internal refund and inventory scrap. Violet Guhanshan Another asset impairment loss of the big head from the company and Tongde Cheung Medicine lawsuit against the losing compensation. August 2013, the company Bulletin said and Tongde Cheung's lawsuit first trial. Since then, Purple Guhanshan filed a lawsuit, according to the final verdict, Violet Guhanshan together with the pharmaceutical companies need to pay Tong Xiang Medicine, Tongde Cheung Pharmaceutical Fixed asset acquisition price of 64.4511 million yuan, and in the Hengyang of the existing land in the High-tech development zone to draw a piece of the same nature, the same area, The same lot of land and Tongde Cheung Pharmaceutical all the land (area of 56.73 acres) for replacement. According to the outcome of the final judgment, it is expected to reduce the company's current profits by about 53 million yuan. On the above two large sums, some analysts think the company is obviously Zhangbao, bad one-time clean. A financial person said that as long as the appropriate evidence can be used to make long-term investment impairment, the latter can also be rushed back to the earlier period of the impairment of the value of the assets, and impairment of assets are often utilized to adjust profits. Management confusion led to the operation of Chaos Bureau December 28, Hunan province serious investigation of the destruction of Hengyang election news release. Violet Guhanshan immediately issued a notice said the company president Cheng Changheng because involved in bribery case was revoked deputies representative qualifications, Violet Guhanshan also became the first of the cities listed in Hunan bribery case of the public companies. Coincidentally。 Violet Guhan President Liu Arrow is also due to financial fraud by the SFC punishment, and two of the President has been involved in the company is just a tip of the iceberg. In recent years, the purple Guhanshan has been negative news constantly, the letter wearing irregularities, financial fraud, litigation disputes has become a hot topic of public debate. "Hunan Capital market of pharmaceutical listed companies, such as nine Cheese Hall (market, interrogation), the daughter of medicine (market, interrogation), Han-sen Pharmaceutical (market, interrogation), er Kang Pharmaceutical (market, inquiry) and other companies have maintained a sound development, but the purple-violet ancient and Chinese chaotic like frequent. This is mainly related to the confusion of corporate governance structure. "A veteran Hunan medical profession personage is analysis. Data show that the purple Guhan as Hengyang Traditional Chinese Medicine Industrial Co., Ltd., Hengyang state-owned Assets Administration (hereinafter referred to as "Hengyang state-funded bureau") as the first major shareholder。 2000 Hengyang 24.18 million shares transferred to the Tsinghua Violet Group, from Violet Group to become the largest shareholder, Hengyang state-funded bureau to the second largest shareholder. "Violet Guhanshan management has violet Group and Hengyang state-owned Bureau of the people, and then introduced a professional broker, plus purple Light Group before the old staff, the Quartet did not organic integration, leading to the company in the management of the chaos." A person close to Violet Guhanshan told reporters. Second-tier market trend and fundamental departure according to the performance of the forecast, Violet Guhanshan 2013 Total operating income is expected to reduce about 20% year-on-year (of which, Western medicine decreased by about 33%, Chinese patent Medicine year-on-year reduction of about 16%), resulting in the reduction of operating profit. However, the Violet Guhanshan of the two-tier market is clearly out of the company's fundamental departure from the market. According to statistics, Violet Guhanshan's share price in 2013, the cumulative increase of 41.6%, far away from the same market index, and its dynamic P/E ratio has been as high as 2000 times. And January 17, that is, the company issued 2013 annual results of the announcement on the day, the company's shares in the Shanghai Composite Index 0.93% decline in the case still maintain a strong pattern of 0.22%. It is worth mentioning that the company's holding shareholder Violet Light Group and its concerted action on November 28, 2012 through the SSE securities trading system to buy part of the company's shares, and plans to be in the next 12 months to increase holdings. Quite coincidentally, the purple Light group began to increase the point of time is almost the last two years, the lowest of the stock price, and in the 2013 years of sharp decline in performance, the company in the two-tier market still give a full year 41.6% of the increase. Large shareholder's precise overweight and clearly deviate from the fundamentals of the two-tier market trend, so that market people confused.