Shenzhou computer once again into the gem two private equity fund shares

In the first year after the failure of the gem, with the 2011 improved financial data, Shenzhen Shenzhou Computer Co., Ltd. (hereinafter referred to as "Shenzhou computer") again through the gem. China Securities Regulatory Commission disclosed the prospectus of Shenzhou computer July 6.　　According to the latest disclosed prospectus, Shenzhou computer 2011 years of operating income of about 5.696 billion yuan, net profit of 297 million yuan, operating activities cash flow of about 240 million yuan. Compared to the 2011 GEM listing application was not, at that time, a problem is that Shenzhou computer 2009, 2010 net profit total of 486 million yuan, while operating activities net cash flow total is only 240,000 yuan (note: According to the latest prospectus,　　The net cash flows for 2009 and 2010 were 23.86 million and 26.25 million respectively, that is, the sum of two years has been revised to 2.39 million yuan. At present, the actual control person of Shenzhou computer is 47 years old Wu Haijun, direct and indirect shareholding 92.01%.　　Wu Haijun Other main duties are: CPPCC Guangdong province Shenzhen the last Committee standing member, Shenzhen General Chamber of Commerce (Federations) Vice president. A number of financial indicators "optimization" 2011 Shenzhou Computer Listing is the reason is that Shenzhou computer's three "mishap" on the Shenzhou computer continued profitability of the major adverse impact.　　In contrast to the latest version of the application, the problems seem to be "completely" changed. In 2011, the Board of Management of the gem that the Shenzhou computer company in 2009, 2010 net profit total of 486 million yuan, while the operating activities net cash flow total of only 240,000 yuan, the company net profit and operating activities net cash flow there are significant differences.　　According to the financial data disclosed, the net profit of 2011 was about $297 million and the net cash flow of operating activities was 240 million yuan.　　For such a huge change, the Shenzhou computer gave the explanation: 2009 out of the expectation of economic recovery, the year increased the procurement of raw materials, such as the large increase in inventories. The 2nd "mishap" that the Board of Auditors pointed out at that time was, "the inventory turnover rate of the reporting period declined year by day, the gross profit margin increased year by day, the analysis in the declaration material was insufficient to fully explain the rationality of the above phenomenon." "According to Shenzhou Computer disclosed last year prospectus, Shenzhou Computer 2008, 2009, 2010 inventory turnover is 4.37 times, 3.88 times, 3.66 times, while the gross margin is 13.98%, 15.22%, 15.81% respectively."　　In the disclosure of the prospectus, the Shenzhou Computer 2011-Year inventory turnover rate of 4.5 times, up 22.95% Year-on-year, the gross margin was slightly lower, to 15.55%. The 3rd concern of the Board of Auditors in 2011 is that Shenzhou Computer "2010 main business income growth mainly from the purchase of computer parts sales of large growth." "The 2011 financial data disclosed in the prospectus revealed that computer revenue was 4.178 billion yuan in 2011 and the growth rate was 73."62%. Computer accessories revenue 1.497 billion yuan, growth rate of 26.38%.　　Two private equity shares according to the latest prospectus, in 2011 Shenzhou computer Gem Listing was not, the Shenzhou computer total equity increased by 9 million shares.　　This is: Chongqing tai Ho Yu Sheng Equity Investment Fund Center (Limited partnership) to 6 yuan/shareholder price increase of 8 million shares, Tianjin Rui-Yin Jingcheng Equity Investment Fund Partnership (limited Partnership) by 6 Yuan/unit price increase of 1 million shares. Among them, the public data show that the Chongqing tai Ho Yu Sheng Equity Investment fund is July 31, 2011 set up a fund, by the Tellhow Sheng Big Venture Co., Ltd. was launched, its main advantages include "with the Federation of Commerce and the provinces and federations established a wide range of communication channels," and so on. The Fund's main partners are: The headquarters in Shenzhen Sheng Big Investment (group), headquartered in Jiangxi, the Thai Hao Group and Zhongqing Science and Technology Commission under the Chongqing Venture Capital Investment Guide Fund Limited.