Shandong Molong Customer concentration reduce the loss of core customers

October 11, engaged in oil drilling and production of special equipment, Shandong Molong to 18 yuan/share IPO issue. The company first applied for an IPO in 2008 and was vetoed by the SFC. The industry speculated that a large part of the reason is Shandong Molong main excessive reliance on petrochemical double-hung.　　After two years, the company's customer concentration, although the decline, but not because of the increase in sales revenue, but its core customers are losing.　　Decreased customer concentration? Shandong Molong's prospectus shows that PetroChina and Sinopec are the company's two most important customers in the country. 2007, 2008 company to PetroChina Sinopec two companies selling products revenue accounted for the proportion of the company's operating income of 43.12% and 40.46% respectively.　　Shandong Molong 2008 Sprint after a A-shares, there have been speculation in the industry, a large part of the reason is over-reliance on petrochemical double-hung. It is doubtful that, two years later, Shandong Molong customer concentration of higher risk reduction? 2009 and this 1-June, Shandong Molong to PetroChina and Sinopec sales of products accounted for the proportion of the company's operating income of 36.47% and 18.67% respectively, on the surface, the company's customer concentration risk gradually released.　　But the reporter carefully read the prospectus, but found that the company's customer concentration is not only because of the increase in sales revenue, the greater reason in the petrochemical companies from the procurement scale of the company gradually shrinking. Hard to hide core customer churn data show that 07, 08, 09 and this January-June, PetroChina in Shandong Molong purchase amount of 650 million yuan, 770 million yuan, 550 million yuan, 190 million yuan, Sinopec in Shandong Molong purchase amount of 130 million yuan, 360 million yuan, 200 million yuan, not higher than 110 million yuan ( The first half of this year Sinopec has disappeared from the company's top five customers, 110 million yuan for Shandong Molong, the fifth largest customer purchase amount.　　At the same time, the company's operating income in the above year is 1.8 billion yuan, 2.8 billion yuan, 2.1 billion yuan, 1.3 billion yuan. "From 08 to present, Shandong Molong's operating income is about 2 billion yuan, and the company's major customers petrochemical double the purchase amount has been reduced since 08," an industry analyst said: "The real sense of customer concentration decline, is to retain the original big customers, but also to expand the new customers, From the data shows that the increase in operating income at the same time, the purchase of major customers accounted for a decline in the amount. And Shandong Molong Such a situation is essentially the loss of core customers. "The increase in government subsidy in addition to the loss of core customers over the year, the reporter read the prospectus found that in the" issuer's main financial data and indicators, "the description of Shandong Molong lack of" deduction of the net profit after the Non-recurrent profit "this indicator. "The net profit after the non-recurrent profit and loss" reflects the enterprise in the normal business activities, net income generated, this is a very important indicator, in normal terms, in the prospectus of listed companies and the main financial data of the annual report, this indicator can be found.A senior CPA told reporters.　　Shandong Molong Such an important indicator hidden, what reason? Data show that 07, 08, 09 and this January-June, the company's net profit of 200 million yuan, 320 million yuan, 270 million yuan, 120 million yuan, the same period of non-recurrent profit and loss of 7.6 million yuan, 11 million yuan, 50 million yuan, 14 million yuan.　　In the above years, after deducting the non-recurrent profit and loss after the net profits are 190 million yuan, 310 million yuan, 220 million yuan, 106 million yuan, very obvious, from 09 onwards, Shandong Molong deduction after the non-recurrent profit and loss of the net profit in the declining year. In the non-recurrent profit and loss, the biggest proportion is the government subsidy. Data show that 2007 to 2010 1-June, the accounting period of the company received the government subsidy is 17.12 million yuan, 5.98 million yuan, 45.17 million yuan and 29.23 million yuan, respectively, the proportion of total profit is 7.19%, 1.69%, 13.93% and 19.94%,　　Showing a gradual rise in momentum.　　For the company's dynamic, this newspaper will continue to maintain concern. Reporter Money Presented