SFC to check the results of the provisional Friday

Saint De such as sales data are false, sponsor agencies and accounting firms have to bear greater responsibility "the first financial daily" yesterday learned that the day before the listing due to be questioned the performance of fraud and the postponement of the listing of Hunan Scenic mountains and Rivers Biotech Co., Ltd. (hereinafter referred to as "scenic mountains and Rivers"), More than 100 of its total dealers will be subject to further verification by intermediaries, tentatively scheduled for the Friday results.　　This is the regulatory directive that the SFC made last week.　　Yesterday, the scenic mountains and rivers of the sponsoring institutions ping an securities and accounting firms in the international accounting Firm, Inc. (hereinafter referred to as "the CPA") jointly dispatched more than 10 road investigation team, divided to the company across the country more than 100 general distributors to investigate the brand of rice wine sales data.　　It is understood that the investigation team in each group of three people, in addition to ping an securities investment bank, the wind control personnel, also includes a person dispatched by the CPA, to each dealer, each consumer terminal, each bank that has the business to carry on the verification, depends on the packing material list, the shipping list and the tax invoice, currently tentatively is the Friday preliminary verification result.　　The sales figures are being questioned. The market is being questioned by a rice wine manufacturer whose sales figures have been raised by a series of recent surveys of its nationwide sales. The company was scheduled to be listed on the Shenzhen Stock Exchange on December 17, 2010, but on the first night, the company and its intermediaries received an urgent inquiry from the SFC requesting immediate verification of the sales figures for the scenic mountains and rivers, and the need to check the entry and exit statements of all its national dealers, which must result within two days of　　For a short period of time to provide a wide range of verification assurances, 17th Scenic mountains and rivers stay on the market, in the first "subscription funds in place, emergency postponement of the listing" of the Li-E, it became the latest case of such incidents, triggering the securities market concern. It is reported that the SFC to deal with such problems generally have two stages, two ways. The regulator said the first phase requires the sponsor to check and then discuss the resumption of the listing on the basis of the verification results.　　There are two ways to deal with the time conflict between verification and listing.　　One is to check after the listing, the other is first listed after verification, the pros and cons of these two approaches are clear: if the company is ultimately proven to be unable to go public, the second will hurt investors because the stock is already trading and the first is better because it can be refunded to investors.　　Last week, after a number of consultations with intermediaries, the SFC after understanding the situation, agreed to suspend the listing, and then an emergency intermediary agencies to discuss the verification program. Verification Focus: Direct Sales Model One industry personage said, the scenic mountains and rivers market is more dispersed and adopts the direct marketing model. The company has more than 100 total dealers nationwide, the prospectus only disclosed the top ten dealers. If more than 100 total dealers under the average of more than 500 dealers, each also on the average annual distribution of more than 2 million yuan, each 1000 bottles to 2000 bottles, scenic mountains and rivers in the middle-grade wine price of 800~900 yuan, the highestis 1999 Yuan.　　The winery also took the reception route, which was served by the Hunan Provincial government, and then expanded to 15 provinces, such as Sichuan Province and Jiangsu province.　　Previously, the sponsor and the local tax authorities in Hunan communication, to determine that the company's capital transactions are bank transfers and no cash sales, cash sales more easily fake, and the local tax authorities also found that the company's income has been taxed. For why the landscape is below the industry average level of inventory turnover to win higher than the industry average profit margin, a participant in the scenic mountains and rivers to explain that the inventory turnover is low, there are seasonal reasons for drinking rice wine in winter, as well as storage reasons.　　Scenic mountains and rivers of sales to buy and guide the main way, group purchase is a big hotel, shopping guide is the distributor sales, no advertising costs, and the industry and other well-known yellow rice wine enterprises have higher advertising costs, their profit margins are lower because the advertising costs accounted for a larger. For the alleged packaging scenic mountains and rivers two times listed, sponsor body said, July 26 last year recommended the enterprise on the gem, but because the gem issued a landing enterprise industry guidelines, and the food and beverage industry is not listed, so the enterprise and fuling mustard, Jinhua ham, Guangdong Jialong Food and other three enterprises were transferred to the plate,　　Not by the Gem audit did not pass back. Although the results of the verification have not been released, but some scenic investors have been online to communicate how to claim the rights of the matter. such as scenic mountains and rivers sales data are false, in addition to the sponsor agencies to be responsible for the investigation of the responsibility, accounting firms also have to bear greater responsibility, because each of the list needs accounting firm letter of confirmation.