Sino-Union Electric avoids talking about the related people huaxing transformer financial data doubtful

The financial data disclosed by the listed company is different from the annual inspection data issued by the Industry and Commerce departments. For the CLP, which has just spent $118 million to complete a merger, it is clear that more explanation is needed. With the in-depth investigation of reporters, China-Union Electric (002323.SH) acquisition of Jiangsu Huaxing Transformer Co., Ltd. (hereinafter referred to as huaxing transformer) of the Strange acquisition case (see this newspaper September 19, 13 version of "The" "the" "Abandon son" suspected affiliates benefit 3.48 times Times ") and show a new side of the unknown. Relevant information shows that not only the shares of Huaxing transformer hidden behind the relevant party Jiangsu Huaxing Investment Group Co., Ltd. (hereinafter called Huaxing Group) figure, even huaxing transformer itself financial data also have doubts. And earlier, for this newspaper related reports, the September 23 night in the joint Electric Power issued a clarification announcement, but the entire bulletin did not have the market to question the relevant figures to explain. In addition, prior to the acquisition of the announcement, the Chinese-Union Electric for huaxing Transformer is its IPO withdrawal of Yancheng Huaxing Transformer Co., Ltd. did not make a statement. It was not until this newspaper had made the relevant report that the company acknowledged the issue in the clarification announcement. At the same time, however, the financial situation of huaxing Transformers has attracted new questions. Disappearing assets according to the announcement of the February 28, 2013, the total assets of huaxing Transformer at the end of 2011 were 487.7402 million yuan, while the total assets at the end of 2012 were only 166.7955 million yuan. In a short period of one year, the total assets of huaxing Transformer will be reduced by 320.9447 million yuan? In this respect, the China-Union electric did not explain. The 2012-year audit report of Huaxing Transformers disclosed by the China Union Electric Power show that the major changes in total assets in a year are mainly from the change of current assets. Reporter noted that huaxing transformer in the early 2012 liquidity for 4,458,435,000,000 yuan, and at the end of the year, the current assets only 126.2872 million yuan. In current assets, the two accounting subjects that change the most vary from monetary funds, prepaid accounts and other receivables. Huaxing Transformer 2012 Annual audit report shows that At the beginning of 2012, the Monetary Fund was 170.9521 million yuan, and only 3.1066 million yuan was left at the end of the year, and the advance payment was 88.4356 million yuan, and only 711,000 Yuan was left at the end of this year. Other receivables were 81.5682 million yuan at the beginning and 12.8424 million yuan at year-end. It is easy to see, the above changes are the main reasons for the total assets of huaxing transformers, but how can the huge amount of money from 170 million yuan to 3.1066 million yuan? Where have these assets gone after the reduction in both prepaid and other receivables? Similarly, huaxing Transformer's total liabilities also fell a lot, its total liabilities at the end of 2011 was 409.4595 million Yuan, 2012 end to 78.0563 million yuan, reduced by 331.4032 million yuan. The reporter consulted its audit report found that the reduction in the amount mainly from the current liabilities, huaxing changeIn the beginning of 2012, the current liabilities for 314.4596 million yuan, and only 68.0563 million yuan at the end of the year. The major decrease in current liabilities is mainly from short-term liabilities, from $84 million in early 2012 to $20 million at the end of the year, and from $154.5 million in early 2012 to $3 million at the end of the year. , from 12.5314 million yuan in early 2012 to 4.564 million yuan at the end of the year, and other payables from 22.8172 million yuan in early 2012 to 9.3821 million yuan at the end of the year. A Shanghai brokerage a relevant industry researcher told reporters that such a significant change in assets, the joint electric should be given a description and truthfully disclosed, "otherwise investors do not know what happened to huaxing Transformer in 2012?" Why the total assets will be reduced by 300 million yuan, this has no effect on the future operation, even the acquisition of assets will have some kind of fishy. "The final transaction price of the Walkson (Beijing) International Assets Assessment Limited is 118 million yuan," the company said in a clarification notice. The value added was 15.6221 million yuan, the value-added rate was 15.26%, the value added was 29.2608 million, and the value-added rate was 32.97%. However, in the reporter's survey, including Jiangsu Sifang Culture Industrial Co., Ltd. (hereinafter referred to as the Quartet culture), Jiangsu Red Power Industrial Co., Ltd., Hu Hong and Chen Biyu, etc. in Huaxing Transformers repeated equity transfer, the use of the transfer price is based on registered capital. Moreover, Huaxing group January 8, 2008 will huaxing Transformer 100% equity (15.88 million yuan) is transferred to the Quartet 13.6 million yuan culture, belong to the discount transfer. May 19, 2010, the quartet culture will be huaxing Transformers 100% equity (15.88 million yuan registered capital) to 15.88 million yuan price to the Jiangsu Red Power. Why is it when the Chinese union Electric acquisition, in accordance with the net assets to make a premium assessment, but no longer in accordance with huaxing Transformer in the previous transfer of the use of registered capital as the basis? In this respect, the Chinese Union Electric's clarification announcement also did not mention. Do not understand the data for huaxing Transformer shares of the shareholders involved in the transfer, the company did not disclose the history of the details, and in the clarification of the bulletin has not been questioned by the related party huaxing group to make any explanation. In addition, the reporter also found that the Sino-Union Electric disclosed huaxing Transformer financial data and the Yancheng Industry and Commerce Bureau annual inspection information is not the same. China-Union Electric disclosed "on the acquisition of Huaxing Transformer shares of the announcement" shows that huaxing Transformers 2011-year operating income of 132.2139 million yuan, net profit of 10.7166 million Yuan, 2012-year operating income of 134.3532 million yuan, net profit of 10.4584 million yuan. However, huaxing Transformer 2011 Industrial and Commercial inspection data show that its main business income of 130.0614 million yuan, net profit of 8.2842 million yuan; 2012 Annual business inspection data show that its main business year income of 127.3188 million yuan, netThe profit is 12.7252 million yuan. In addition, huaxing Transformer's total asset data is also problematic. The total assets of huaxing Transformer in 2012 were 166.7955 million yuan and 487.7402 million yuan in 2011. However, its industrial and commercial inspection data show that huaxing Transformer 2012 total assets of 153.8726 million yuan, 2011 for 375.7457 million Yuan, the difference is quite obvious. According to the Sino-Union Electric Clarification notice, huaxing Transformer is a duty to carry out securities, futures related business qualifications of international accounting firms (Special General Partnership) audit, and issued a standard without reservation of the Bounden duty Shanghai SJ (2013) No. 998, "audit report." The so-called authoritative "audit report" Why and more authoritative business information is not the same? "This is unlikely, the annual inspection of enterprises is the industry and commerce departments according to the annual inspection of enterprises, and should be the audit report." "A CPA told reporters that domestic enterprises in the annual Industrial and commercial annual inspection, to be audited by accounting firms, and issued an annual industrial and commercial audit report," Huaxing transformer Why this error, this is only to ask in the joint electric. "" In considering huaxing Transformer shareholder shareholding during the increase in equity and huaxing transformer own net assets accumulation and huaxing transformer existing production license qualification and mining flameproof transformer industry status and so on. "China Union Electric believes this is the ultimate premium for the acquisition of Huaxing Transformers. However, the above-mentioned brokerage researcher bluntly, the Sino-Union Electric and huaxing Transformer's main business income exactly the same, operating are mine flameproof transformers. "Downstream industry is mainly the coal industry, the main demand from the new coal mining investment, in the case of huge surplus of coal production capacity, the increase in coal investment growth sharply decline, the inevitable reduction of investment in coal equipment, mining explosion-proof transformers from where the growth?" "If the 2012 and 2011 financial data of Huaxing Transformers disclosed by China Union Electric were shown, its operating income was close to zero growth, only about 2 million yuan, and net profit declined." Huaxing Transformer Industry and Commerce annual inspection data show that Its 2007 revenue of 94.2474 million yuan, net profit of 2.1643 million Yuan, 2008 revenue of 115.5297 million yuan, net profit of 2.1731 million yuan; 2009 revenue of 119.1886 million yuan, net profit of 5.9076 million yuan; 2010 revenue is 112.7917 million yuan, net profit is 10 572,000 Yuan. If the data disclosed by the Sino-Union Electric Power is true, it is equal to the net profit of Huaxing transformer from 2010 to 2012 is below 11 million yuan, three years did not appear growth. The former researcher said frankly, China-ITU Electric for the acquisition of the 118 million yuan, in the coal industry in the context of the overall recession, when the investment can be recovered, it is worrying, not to mention in the first half of the 2013, the net profit of the China-Union electric has almost zero growth. Financial data "Fighting", clarifying the announcement to the evasive, the Central Union Electric andHuaxing Transformers between the acquisition of "drama" who is behind the scenes "director", perhaps still need to be the regulatory level of the relevant investigation.