St Precision Lun hidden behind the loss of "set the current" path?

Will St fine-Lun become the next Lantian stake?　　Some investors are wondering. After 7 years of unpaid dividends, 2008 and 2009 consecutive losses, fine-LUN electronics finally put on the St hat.　　However, since the three quarter of 2010, St-Lawrence seems to have a sign of resurrection. According to the bulletin, St fine-LUN semi-annual and three quarter after the deduction of non-recurrent profit and loss is 77635.67 Yuan and 3004657.79 yuan respectively. After scrapping or reducing the value of the treatment, St-LUN has made clear the direction.　　"St Jing Lun Dong Zhang Wanhong said.　　However, at this time, there are Shanghai shareholders because of the suspicion of false statements will be fine LUN electronic prosecution, the court decided that the General Assembly resolution is invalid. St Fine-LUN is facing the risk of a return to the city is worse.　　According to a reporter investigation found that St fine-LUN for the company employees pay "five risks a gold", the same serious fraud.　　In the 20 anniversary of the securities, the study of such a "China's first authorized to issue a shares of the entire natural person companies, the first domestic to the level two market investors in full market value of the listed companies," appears to be particularly valuable.　　Alleged false statement according to Shanghai shareholder indictment, St fine-Lun in 2006, 2007, 2008 and 2009 four consecutive annual reports of the existence of false statements, to investors caused losses. According to the calculation, the company's 2006 annual report has a false profit of about 27.7436 million yuan suspicion. The 2006 annual report disclosed a combined net profit of 2.546 million yuan, but according to the calculation, the company should be a loss in 2006.　　Among them, the 2006 annual report disclosed raw material sales revenue should be greater than semi-annual disclosure of the amount, but when the annual report disclosed raw material sales revenue for less than half a year, it is believed that the information disclosed in the annual report is false.　　The plaintiff considers that the net profit of Shanghai Bowmacks Electronic Technology Co., Ltd. disclosed in the 2006 annual report is 12.7549 million yuan, the value of which is suspected of false record, because the subsidiary is included in the merger scope, this also indicates that the net profit of the consolidated statement disclosure also exists false record suspicion.　　Some lawyers think: the 2007 annual report disclosed the main business income there is a false suspicion of 22 million yuan, 2007 annual report (merger) disclosed "Business receivable Project Reduction" There are more than 17.8029 million yuan suspected, also indicates that net profit exists 17.8029 million yuan difference. The 2008 Annual report (merger) disclosed the "Reduction of operating receivables" is 52.4707 million yuan, the value of which is about 27.915 million yuan, the net profit value disclosed in the annual report or the net operating cash flow value is about 27.915 million yuan.　　The information on staff remuneration disclosed in the 2008 Annual report (merger) is about $8.6154 million. The 2009 Annual report (merger) disclosed that the information about the employees ' remuneration is suspected to be about 5.681 million yuan, and the sales expenses and management expenses of the annual report are about 82.1748 million yuan.。 There is doubt in the end of the problem so, St fine Lun whether there is no false statement?　　October 28, 2010, the company's Dong Zhang Wanhong also admitted that the company's 2006 Annual report, the existence of data "flaws." This "flaw" refers to the 2006 annual report of three major suppliers, customer disclosure: the first five suppliers to purchase the total amount of 53.5383 million yuan, accounting for the total purchase weight of 25.83%, the first five sales customer sales amount to 55.6994 million yuan, accounting for total sales proportion of 23.85%. Zhang Wanhong said: "These two ratio is the annual report and the Board of Directors in the presentation of the gap is not a big problem." However, a November 13 announcement proved that St-Lawrence seems to have more serious facts than flaws. Notice shows: Wuhan State Administration of Taxation Bureau of the five from May 4, 2010 to October 18, 2010 for the company from January 1, 2002 to December 31, 2009 tax status checks.　　And on October 25, 2010 issued a five National Tax Office "2010" No. 259 tax processing decision, decided that the company needs to pay 2009 VAT 3,022,504.23 Yuan. According to the public tax, the company also needs to pay the tax basis for the 2009 additional local tax is 408,038.07 Yuan, of which: urban construction tax 211,575 30 yuan, education costs additional 90,675 yuan, embankment fee 13 60,450 yuan, local education plus 08,　　337.56 Yuan.　　According to the provisions of the Enterprise Accounting Standards, St fine LUN to the above tax inspection matters as a preliminary error retroactive restatement, so that the company to reduce the end of 2009 not distributed profits 3,430,542.30 yuan, the adjustment increased by the end of 2009 should pay tax 3,430,542.30 yuan. In the annual report of listed companies, there is always a "data no trivial" said. "It shows how careless the company is about investors," the case's agent said.　　As for the other data, Zhang Wanhong promised to give reporters a written statement, but as of the press, the reporter did not see the answer to the St-LUN. According to the annual report, the company's net profit was 82.5 million yuan in 2002 and the net profit of 2003 was 44.77 million yuan.　　2004 net profit fell rapidly to 5.64 million yuan, 2005 years the most serious loss, net profit is-111.88 million yuan, reduced to loss shares, 2006 continued to lose 2.24 million yuan, 2007 profit 6.91 million Yuan, 2008 loss 77.23 million Yuan, 2009 continued to lose 170 million yuan. St-Lun in the face of the risk of withdrawal of the key node, there will always be "back to the dead." According to St fine-LUN July 30 released 2010 reported that this January-June, the company achieved a net profit of 227,200 yuan. "In order to reverse the loss of the situation, 2009 St-Lun in the direction of development has also been adjusted." CutLost the project that does not conform to the company development direction, cannot create the profit for the company.　　"Zhang Wanhong said. Good things are in succession.　　According to St Jing-LUN Three quarterly statement Ming: The company three quarter after the deduction of non-recurrent profit and loss of 3004657.79 yuan. A survey by the reporter found that the company through a large number of staff to reduce costs to achieve profits.　　According to Zhang Wanhong, the company's staff has been reduced from more than 1000 people to the current 560. October 29, 2010, the reporter learned from the Wuhan Housing Provident Fund Management Center, the company actually paid housing Provident Fund staff number of 360 people.　　This and Dong Zhang Wanhong beforehand said 560 people all pay existence nearly one times disparity. In fact, according to the relevant regulations of the State and Wuhan, companies, especially listed companies, must pay "five risks and one gold" for employees. Zhang Wanhong said: "If some of the internal security staff, workers because of low wages, willing to take more money in hand, unwilling to participate in insurance, the initiative to ask not to do Social Security and Provident Fund."　　"A lot of spending will not become St Precision Lun" turn to win "performance, investors do not know.　　Loss does not hinder major shareholder "cash"?　　All of this does not prevent the major shareholder from actively "cash in". According to statistics, December 31, 2001, the company's net assets of 184.72 million yuan (5 natural person controlling shareholder full input). June 2002 IPO raised 501.58 million yuan, to the end of 2009, the cumulative book losses amounted to 209.78 million yuan; in the 8-year listing as at December 31, 2009, all shareholders only one time in 2002: The company 2002 profit distribution plan: to 2002 year end company Total Capital 123　　, 022,300 shares for the base, to all shareholders 10 shares of 4.00 yuan cash dividend (including tax), of which: controlling shareholders to distribute cash dividend of 36.8 million yuan, the circulation of shareholders to distribute cash dividend is only 12.4 million yuan. May 29, 2007, restrictions on the lifting of the day, the majority of the original holding shareholder Liu Qitao and his ex-wife Xi Mei all reduce its holdings of fine LUN 18.82 million shares, profit about (on the day of the average price) for 203.5 million yuan; Liu Qitao and his ex-wife all cashed out, plus the aforementioned two dividends,　　They profited as much as $218.1 million, and their investment in listed companies (which had lost all losses by the end of 2009) was only $23.09 million, with a return rate of 944%. From May 29, 2007 to February 9, 2009, the second largest holding shareholder, chairman Zhang Xuyang's brother-in-law Rogen a total of 12.72 million shares of fine-LUN stock, at an average price of 8 yuan, profit of 101.76 million yuan; August 24, 2009 to September 7,　　The second largest shareholder Cai Yuanhong and Cao Johin respectively reduce 1.71 million shares, 2.33 million shares, respectively, profit 12.993 million yuan and 14.024 million yuan. Between July 2010 and September, the actual control of the company Zhang Xuyang, the current Chairman of the board to reduce the 2.21 million shares(no announcement), profit 12.08 million yuan. By analyzing the benefits, we can find out the drawbacks of Chinese stock market clearly. Compared to the end of 2001, the 184.72 million yuan net assets and cumulative book losses amounted to 209.78 million yuan, the controlling shareholder's personal cash income is as high as 381.15 million yuan, all the Liu Qitao and his ex-wife return the investment yield as high as 944%;　　The public shareholders invested in cash amounted to 845.93 million yuan, 8 years they received only a few 12.4 million yuan, the investment yield is 1.47%, and Liu Qitao investment yield ratio, the difference is 642 times times. In response, Zhang Xuyang, the company's chairman and general manager, boarded the list of the worst CEOs of Forbes China's listed companies in 2007 and 2009.