Professor Bnu a stake in Qianshan pharmaceutical cash machine

Trainee reporter Lin Lin December 14, the Commission will review the Hunan Qianshan Pharmaceutical Machinery Co., Ltd. (hereinafter referred to as "Qianshan Pharmacy") of the starting application. Like many companies prepared to do so, the revenues of Qianshan Pharmaceuticals surged before the IPO, but at the expense of increased accounts receivable. In addition, in Qianshan Pharmaceutical planning on the eve of listing, there is an associate professor from Beijing Normal University to 6.75 million yuan to the high prices of Qianshan pharmaceutical.　　If the Qianshan pharmacy goes smoothly, the BNU professor can earn at least a profit of nearly 105 million yuan and nearly 16.6 times times the return on investment. Accounts receivable surge Qianshan Pharmaceutical is the main injection production equipment suppliers, the main business for all types of injection production equipment production and sales. The company is the main injection production equipment suppliers, 2009 annual injection production equipment sales and sales revenue are ranked the top three in the same industry, including large infusion production equipment sales and sales revenue in the same industry first.　　The Qianshan Pharmaceutical project issued 17 million shares, the total share capital after the issuance of 67 million shares. Like many companies ready to go, the company's performance in the reporting period has soared. The IPO report shows that in the last three years, the revenues of Qianshan pharmaceutical business continued to grow, from 2007 to 2009 the company's operating income is 96.47 million yuan, 124 million yuan and 155 million yuan. And the company's net profit is also rapid growth, the report shows that nearly three years, the company's net profit is 12.59 million yuan, 17.36 million yuan, 31.01 million yuan. In the first half of this year, the company's net profit has increased to 24.35 million yuan.　　2008 and 2009 net profit increased by 37.82%, 78.67% respectively. However, in the company's business income doubled, the Qian Shan Pharmaceutical accounts receivable and advances are increasing.　　From the information of the Declaration, the company's accounts receivable from 2007 to 2009 are 68.14 million yuan, 88.46 million yuan, and 72.55 million yuan respectively. The reason for the proliferation of Corporate accounts receivable, the company said mainly because, in the reporting period, the characteristics of its machinery industry and the company's products themselves.　　Qianshan Pharmaceutical belongs to the special equipment manufacturing industry, the balance of accounts receivable is generally higher, and accounts receivable turnover is lower. In addition, in addition to the characteristics of the industry, Qianshan Pharmaceutical in order to win the favor of major customers, but also relaxed the customer to confirm payment time. By the prospectus can be seen, 2007, 2008 company orders significantly increased, delivery time intensive, customer requirements of tight delivery, and the company processing capacity is difficult to meet the short-term demand for centralized delivery, the company has been in the annual delivery and commissioning qualified to meet the company's income recognition conditions,　　There are still some contracts can not be agreed within the period of delivery, the company for brand building and maintenance of customer relations, the general will take the initiative to relax on the part of the customer's credit period, and to seek long-term stability with this part of the customer cooperation. Professor Bnu a stake in the current shareholder of Qianshan Pharmacy,All 27 are natural persons.　　The reporter found that among the 27 natural person shareholders, one is from Beijing Normal University, an associate professor-Yu Yunchun, and its 2,500,000 shares, a shareholding ratio of 5%, is the company's third largest shareholder. The report shows that at present, the top four of the former pharmaceutical shareholders of Qianshan, Liu Xianghua shareholding 9,215,000 shares, the shareholding ratio of 18.43%, She shareholding 3,500,000 shares, the shareholding ratio of 7%.　　In addition, Yu Yunchun and Ting each hold 2,500,000 shares, the shareholding ratio is 5%, is the third largest shareholder of Qianshan Pharmaceutical. According to the data, the BNU Professor began to hold Qianshan pharmacy before teaching. July 29, 2007, by the joint stock company in 2007, the first general meeting of the Provisional shareholders approved, agreed to Ting, Yu Yunchun and other 11 natural persons to 2.7 yuan per share of capital increase, the total subscription of 14 million shares of shares.　　After the completion of the increase, the company registered capital changed to 44 million yuan.　　According to the subscription information at the time, Yu Yunchun subscribed to the 2.5 million shares of Qianshan Pharmacy, the subscription amount of up to 6.75 million yuan. The information about Professor Bnu is not much described in the report.　　Simply put, Yu Yunchun is an associate professor at the School of Management, Beijing Normal University, only 39 years old. The reporter learned from public information that the BNU Professor passed the accreditation of teachers in the fall of 2008 and began working as an associate professor of accounting at the BNU School of Management.　　In fact, the professor has a deep academic attainments, published several academic papers and written a textbook on financial management. According to Qianshan Pharmaceutical 2009 annual income of 0.68 yuan, as well as the latest 65.63 times-fold price-earnings ratio of the pharmaceutical and biological industry listed by the exchange, assuming that the stock prices of Qianshan pharmaceutical market is 44.63 yuan, in the equivalent of 2.5 million shares of Yu Yunchun Holdings, if the company successfully listed, Yu Yunchun's shareholding can be as high as 112 million.　　Compared with the original Yu Yunchun only 6.75 million yuan to participate in Qianshan Pharmaceutical, this listing makes the Professor Bnu easy to catch nearly 105 million! How can the BNU professor, before teaching, to the high price of 6.75 million yuan to the Qianshan pharmaceutical? Reporters try to the BNU inside the "invisible rich" contact the staff of the company, but Qianshan pharmaceutical Dong Office Contact Phone has been no answer.