Mei Sheng Culture Investment Project Digest doubt

Recently, some media reported the United States Sheng Culture Co., Ltd. (hereinafter referred to as "Sheng culture") illegal provision of false material registration information. The author followed up the investigation and found that the United States and Sheng culture also have to raise the project may be unable to digest the problem, or affect its listing road. The prospectus shows that the U.S.-sheng culture of the listing plan to raise 235.5 million yuan for expansion of animation and apparel production capacity of 10 million sets/year, and this data is equivalent to the company 2010 annual production of 4.6983 million sets of 2.13 times times. At the same time, 235.5 million Yuan plan to raise 178.51 million yuan for the acquisition of fixed assets, of which 148.88 million will be put into the building class fixed assets, and 29.63 million yuan will be put into the equipment class fixed assets, which is equivalent to the company's current two types of fixed assets of the original value of 3.29 times times and 3.25 times times. The prospectus shows that the current capacity of the U.S.-sheng culture digestion is not ideal. Mei Sheng Culture from 2009 to 2011 before the three-quarter production and sales rate is always less than 100%, indicating that there is a certain degree of product backlog. But for how to digest capacity, the United States and Sheng culture has not made a very clear explanation. An investment bank analyst Zhang Yu thinks, if after the expansion downstream once cannot digest, the United States Sheng Culture's capital chain will appear many hidden dangers. The industry will continue to pay close attention to the success of the U.S.-sheng culture in the capital market.