Nanjing Medicine: How many secrets are there behind the hidden trade?

Introduction: On May 19, the first financial channel of the "Company and Industry" column exposed to the company's Nanjing Medicine violation Insider, the company actual losses serious, but through a number of means to sell their own fixed assets, let themselves become a "blue", gorgeous coat under what exactly hidden what kind of secret, Detailed below. In the run-up to the reform of state-owned capital, some state-owned enterprises are not in reverse, there are irregularities, Nanjing Medicine in March this year, the company was the Jiangsu Securities Regulatory Bureau found that the letter batch irregularities, the latest may be a new issue of the letter batch irregularities. Some media have questioned that the company in the last Half-year and annual reports still have no timely disclosure of information. Nanjing Medicine last year's annual report showed that last year, the company has transferred a company called Hefei Jin Yi Culture Media 49.7% of the equity, the sale of a total of 62.879 million yuan, resulting in a total investment income of 11.5 million yuan. But for the deal, the company did not make an interim announcement, nor did it submit a proposal to the Board for consideration. According to the SSE regulation, the profit of the listed company is more than 10% of the net profit in the recent fiscal year, and the absolute amount exceeds 1 million yuan, it should be disclosed in time. In accordance with the company's net profit of about 10.82 million yuan in 2012, the transaction should clearly be disclosed in a timely manner. In addition, there is a doubt on the letter, in accordance with the Constitution of Nanjing pharmaceutical Company, more than 30 million yuan investment to be reported to the board of directors, and to make announcements, if the Nanjing medical investment in gold a culture when the amount of capital contribution of more than 30 million yuan, Nanjing Pharmaceutical also to disclose, but then Nanjing In response, Shang, the company's chief executive, said in his reply to the first financial reporter that the company had reviewed the 2013 earnings report and found no "matters to be disclosed". However, the reporter then call the company chairman Tao, the other side admits there is a problem. The following is a telephone interview with Nanjing Pharmaceutical Chairman Tao: Tao: It is true that there is no disclosure on this matter, first of all, to determine that 2012 years have not been done, the investigation after the discovery is completely an oversight, then the flow of the process, is not required to board and disclosure, only 26 million, later because of the management of state funds, The use of public tender, the final tender to 63 million, to tell the truth is also our own link on an omission, that is, after the program went below, do not know below this standard, it also needs to return to the parent company, and then to do a process (disclosure). Aside from admitting to negligence, Tao also struggled to clear his relationship with the deal. Tao: This is what happened in 2012 and I didn't come at that time. Journalist: So you think the transfer. Mainly the behavior of the former chairman, right? Tao: What happened from September 2012 to October. Journalist: You were not in office at the time. So this is the same thing as you say or not? Tao: Although it doesn't matter to me, but my company's business, I still have the responsibility to investigate this matter clearly. Tao said the former chairman is Zhou Yaoping, he from 20Since 04 as Nanjing Pharmaceutical chairman, until March 2013, Tao said that he will continue to pursue the matter. In this respect, a person familiar with the matter also told the first financial correspondent that the deal really needs to be investigated because of the questionable inside. Insider revealed that this so-called Hefei Jin Yi Culture Media Co., Ltd., in fact, is a few real estate in Hefei, a shell company, then Nanjing Medicine to these real estate shares, but the procedures, methods and prices have a lot of doubt, insiders believe that the Nanjing medical executives may have the suspicion of conveying interest. So whether Nanjing medicine exists in the interests of transport, is the former chairman Zhou Yaoping or the current chairman of Tao? Or someone else? Company and industry journalists will continue to follow the story. According to the insider said that Nanjing Medicine in addition to the interests of the transmission of suspicion, there are major business issues, the company's future development prospects are not optimistic. The current chairman of Tao since taking office last March, Nanjing Medicine on the turmoil, the company often proud of the big negative coverage of the front page. First last April, Jiangsu Securities and Regulatory Bureau ordered Nanjing Medicine rectification, said the company exists in the letter of law violations, decision-making process irregularities, the board failed to do the three major issues. This March, the company received the Jiangsu Securities Regulatory Bureau issued the "Administrative Penalty decision book", said the company has 3 items should be disclosed without disclosure, was warned and fined 300,000 yuan. Later, a number of investors decided to sue the company for litigation claims, the first batch of investors have been indicted by the Nanjing Institute, and will be heard on June 26. These are just the tip of the iceberg. In the past few years, Nanjing Medical three senior executives left, first former chairman Zhou Yaoping, then the former executive vice president Ding, then the former president He Jinxian also resigned last September. People familiar with the matter said that, in addition to these executives, more serious is the company's large number of business backbone has also left, and its negative role has gradually emerged, many of the upstream pharmaceutical companies have been with the company to release drug agency relations. This for a main drug circulation enterprises, the basic should be seen as the core competitiveness gradually lost. And after the company staff turnover, the company's compensation mechanism has been a problem. Public data show, Nanjing medicine nearly hundred dismissal staff angrily, to the local authorities to focus on petitions, has hit. Mismanagement and in order to look at the financial statements and avoid being St, the company can only through the continued sale of assets to turn around. According to the data, only last year, the company acquired a non-recurrent income of more than 50 million yuan by transferring or listing the shares of several holding and participating companies. Last week, the company issued a notice, ready to sell the company's wholly owned subsidiary of Henan Golden Baokang Pharmaceutical Services Co. The story says here, seems to have had a probably. According to the reporter's narration, Nanjing Pharmaceutical executives replaced, first witch-hunt, personnel adjustment, but then the situation of mismanagement, the last resort to the sale of assets to maintain financial statements, which related personnel are also suspected of selling state-owned assets, for the benefit of transport. And with these questions, the first financial reporter traveled to Nanjing, hope that the company sideFace to be clarified, but the company flatly refused, and attitude is extremely arrogant. In this respect, the first financial will continue to track, but also hope that Nanjing Medicine as a public company, can respond to the market at an early stage of questioning.