Oriental Jia Sheng Want to start the gem

"It Times" reporter/Wang Bingrui (from Shanghai) More and more enterprises for landing the gem, in the examination of their business composition is not difficult to find, highly dependent on a single customer enterprise more than one or two home to cool shade, but if the tree lost shade, cool from where?　　This is outside of the Oriental Jia Sheng's a big concern.　　According to the SFC website September 8 issued a notice, issued by the Audit Committee on September 13 to review the Shenzhen Supply Chain Co., Ltd. (hereinafter referred to as "Oriental Jia Sheng") in the gem listing of the starting application.　　Oriental Jia Sheng's prospectus (report) shows that the company is a supply chain management integration service provider, the department by the Shenzhen East Jia Sheng Business Logistics Co., Ltd. on June 26, 2009 The overall change to set up a limited company, registered capital and Paid-in capital of 100 million yuan. After reviewing this prospectus, our correspondent learned that the main business of the Orient Ka Shing is mainly in it product logistics and supply chain management Service, initially expanding the supply chain management business of HP's main product line, such as notebook computer, liquid crystal display and so on, after 2005, it has expanded the printer with HP,　　It peripheral products such as product line supply chain management. Although Oriental Ka Shing is another it vendor Acer's integrated supply chain management service provider, it also provides supply chain management services to the world's second-largest liquor and wine group, but in the reporting period (six months from 2007 to 2010), the company's revenue to the top five customers has accounted for 96% of total revenue　　Above, notably, their share of HP's revenue in total revenue has remained above 92% per cent. Capital industry Personage thinks, the oriental Jia Sheng suffers from serious "parasitic disease".　　And in enterprises that have landed on the gem, the disease is not a family.　　High reliance on big clients oriental Ka Shengro lists 12 risk factors to alert investors, the first two are "risks to the IT industry" and "risks to key customers". The company admits that "in recent years, as the company to expand the business of other industries has gradually achieved results, but it industry customers are still the company's most important customers, the development of the company and IT industry is closely related to the IT industry is still a certain dependence." "It also notes that," during the reporting period, the company's top five customers operating income accounted for a higher proportion of total operating income, HP's operating income accounted for a higher proportion of the total operating income, therefore, the company has a certain degree of dependence on the main customers, if the main customer's business situation and the status of credit changes, Will affect the company's operating performance to some extent.　　"There is a securities industry analyst to the IT times," said the Oriental Ka Shing's main operating income almost from a Hewlett-Packard company, its own performance growth must be subject to HP's performance, resulting in its market share does not have an absolute advantage. The problem of relying too much on big clients also worries outsiders about the late development of several other companies that have landed on the gem.　　One of the most controversial is the Shenzhou Tai Yue. Shenzhou ThaiYue was founded in 2001, the main business is to domestic telecommunications, finance, energy and other industries of large and medium-sized enterprises and government departments to provide it operation and maintenance management.　　And in the real business of the Shenzhou Tai Yue, to undertake the letter from China Mobile operation and maintenance business has been its income and profit "cow." In 2007, 2008 and 2009, Shenzhou Thai Yue's letter of business revenue reached 87.7392 million yuan, 277.8308 million yuan and 441.0283 million yuan, respectively accounted for the company's current revenue of 19.82%, 53.5% and 61%　　The net profit of the business is 37.3191 million yuan, 90.9717 million yuan and 181.707 million yuan respectively, which accounts for 42.23%, 75.47% and 67.11% of the net profit of the company in the current period respectively. Backed by China Mobile, a giant tree, the Shenzhou Tai Yue was once wildly sought after in the stock market. October 30, 2009 The big curtain of China Gem opened.　　As the first listed enterprises, the Shenzhou Tai Yue shares issued as high as 58 yuan per share, as of the end of the day, the increase reached 77.41%, 2.373 billion of the transaction amount ranked first. March 22 this year, the Shenzhou Thai Yue stock closed at 168.84 yuan, replacing the value of investment benchmarking in Guizhou Maotai became the first high price stocks in the Shanghai and Shenzhen cities.　　Since then, the company's soaring share price has even reached a record high of 237.99 yuan in the April 16 price. A large number of securities operators have alerted investors to the high valuations of China's shares and the high risk of future growth.　　Mingda Investment Management Co., Ltd. Chairman Minda pointed out that the Shenzhou Tai Yue reliance on a single customer is too large, and the company's technology is bought from Microsoft, there is no core competitiveness, long-term profitability is not guaranteed. And the Shenzhou Thai yue similar, another gem listed companies star business is also highly dependent on China Mobile.　　In the first six months of this year, the company's sales to China Mobile and its affiliates accounted for 70.02% of the current revenue. There are similar pitfalls in mainland China's first public relations company blue cursor.　　Founded in 1996, the blue cursor mainly to provide customers with brand communications, product promotion, crisis management and activity management, such as integrated chain-type services, on February 26 this year landing gem. Blue cursors more than half of the revenue from IT industry customers and High-tech Enterprises, the main customers include Lenovo, Microsoft, Cisco, AMD, Canon, Nokia, Sony Ericsson and Samsung. Among them, Lenovo, with its 12-year history of the Blue cursor, is its most important customer and one of its main sources of revenue.　　It is reported that over the past 3.5 hours, Lenovo has contributed 185 million yuan of revenue to the blue cursor, of which 2008 years of contribution to the blue cursor of the year's total operating income of One-fourth.　　Looking for the way out is the same as the Oriental Ka Shing, the companies in the risk of investors in the tip, the main customer or business depends on the risk listed in the front. Shenzhou Yue in its prospectus to specify: If the future of the Telecommunications industry macro-environment hairThe unpredictable adverse changes, or the large decline of the telecom operators ' investment in information construction, will have a great negative impact on the profitability of the company.　　At the same time, the Shenzhou Tai Yue also pointed out that if China Mobile's flying letter business situation is not good or China Mobile flying letter business operators in the future cooperation in the process of lifting or no longer with the company to renew the new cooperation contract, or in the process of cooperation to reduce the company's contract settlement Price, will have a greater adverse impact on the profitability of the company. The blue cursor also prompts investors in its prospectus: "Although the number of customers is increasing every year, the company still has a tendency to focus on a small number of customers because of the rapid growth in the volume of large customer business, and there is a risk of relying on important customers."　　"In acknowledging their own risks, these companies are also developing their own way to avoid risk." Shenzhou Yue chose to put the eggs in a different basket. According to Wang, the chairman of Shenzhou Yue, China Telecom Network optimization Two business, is the company's future potential. In addition, our correspondent in the first half of 2010, the report of China Thai Yue, during the reporting period, they increased the Chinese telecom, Unicom's marketing efforts to achieve business income of 95.9421 million yuan, than last year's growth of 475.61%, accounting for 13.27% of operating income, Accounted for a 10.06% increase.　　National Gold securities that become the exclusive partner is the Shenzhou Tai Yue rapid growth of power, the next few years the company's expansion will come from the mobile internet opportunities, in attracting high-end talent, expand and copy the letter model and customer structure optimization direction of the efforts will bring the company a profit model breakthrough. In business, acquisitions are widely used by enterprises to defuse risks and improve performance. The blue cursor has started the takeover strategy.　　At present, the blue cursor has a "blue cursor" "Wisdom Yang PR" and "Xin Feng Wing" three brands, "Xin Feng Wing" brand is the company's acquisition strategy products. September 3, the plan for mergers and acquisitions in the August 9 suspension of the blue cursor stock card.　　Blue Cursor The announcement said that in view of the inability of the company to reach agreement on the terms of the final deal with the transaction object of major asset purchases, it agreed to terminate the planning of the major asset purchases.　　The blue-cursor deal has been a concern before, and in the aftermath of the miscarriage, the company's executives have said they will continue to expand through the expansion of the road, and eventually become a worthy investment in China's WPP (Editor note: The world's largest advertising and marketing group). The external environment is changing, says Dongfangjia Sheng. According to IDC's report, China's PC market pattern, which has remained relatively stable for years in the second quarter of this year, change, with the exception of Lenovo continuing to sit on its first seat, with HP's market share falling from 11.1% in the previous quarter to 8.2%, with Dell, which climbed from 8.6% to 9%. Not long ago, Acer took over the founder-branded PC business. The throne of the second round of China's market, HP, DellAnd Acer are destined to start a fierce battle.　　In this battle, the Oriental Jia Sheng also inevitably suffered. Oriental Jia Sheng also intends to share business risk road. In the next three years of development planning, the company plans to dig deep into it, the foreign alcoholic products industry other product lines, while actively to auto parts, medical equipment, high-end consumer industries to expand, add new profit growth point. Strive to pass three years time, established in it, high-end consumer goods, hardware, machinery, retail and other industries leading position in auto parts, medical equipment, high-end consumption and other industries to establish a certain dominant position.