The check is clean. Sichuan Changhong Fundamentals return to normal

The recent period, Sichuan Changhong trapped in the so-called "Changhong financial fraud Door", that is, the original Sichuan Changhong staff reported in Sichuan Changhong in the 1998 financial report of the virtual increase in sales revenue and other false financial situation. Although Sichuan Changhong immediately issued a notice to clarify that the contents of the report is not true, Sichuan Changhong does not exist financial fraud.　　However, this matter is still in the domestic security market caused a great response, and to Sichuan Changhong brought some negative impact. However, according to the reporter's understanding, securities supervision, the state tax and other relevant departments after nearly 3 months of verification and forensics, has made the official relevant investigation conclusions, that the report is not true, the Sichuan Changhong does not exist financial fraud problems, and the findings of the investigation to the relevant departments of Mianyang and Van der All hands.　　So far, three months of the so-called "Changhong financial fraud door" Storm can be ended, but also "Sichuan Changhong" to innocence. Calmly accept the supervision of the end of February this year, the media reported that the Van der has reported changhong suspected of financial fraud, falsely increase sales revenue news.　　Sichuan Changhong in the first time made a positive response and explanation, solemnly pointed out that the contents of the report is not real. After that, the Van der has published some so-called new materials and evidences in the form of blog, and posted the long text of Sichuan Changhong to the SFC on the Internet, for a time, the negative news of Sichuan Changhong is constantly attacking.　　Although Sichuan Changhong is convinced that he did not fake, but Sichuan Changhong still hope that the regulatory authorities can investigate and deal with the matter as soon as possible to restore the truth of the facts, restore Sichuan Changhong in the hearts of consumers and investors credibility. In the relevant regulatory departments of the verification period, and the Van der's High-profile open bo different, Sichuan Changhong chose low-key. The reason for this is that the investigation conducted by the relevant regulatory authorities is only a special check, not a case or a formal investigation, so Sichuan Changhong does not disclose relevant information. Also, according to the company law and other provisions, the core financial materials are not available to the outside, the provision is illegal or irregular, especially accounting vouchers can not be disclosed.　　This is one of the main reasons why the Sichuan Changhong chooses low-key. Of course, low-key does not mean Sichuan Changhong "'m not sure".　　It is understood that the Sichuan Changhong reported to the virtual increase in sales revenue and other content has already been checked, Sichuan Changhong also self-confidence supervision Department of all-round verification, can prove that they are innocent.　　From the current verification conclusions of relevant regulatory departments have confirmed this point, Sichuan Changhong does not exist financial fraud problem.　　Two reasons to deny the financial fraud has two reasons, or can prove that Sichuan Changhong even want to financial fraud is difficult.　　First, Sichuan Changhong as a listed company, its financial accounting system is a large and rigorous organizational system, human intervention in this system is difficult. According to Sichuan Changhong introduced, since 1999, Changhong introduced the SAP R3 system, with the help of this R3 system, Changhong's accounting information to achieve electronic, that is, accounting information has been the system solidified. In particular, according to accounting standards and accounting systemThe processing of electronic accounting information, it is impossible to produce in isolation, accounting information production and processing are a ring tight link.　　Therefore, from the integrity of the accounting treatment, the accounting account to want to make a false leave is also impossible to make.　　In this way, to say that the virtual increase in sales revenue of 5 billion yuan, it is not easy?　　The second is the electronic process of financial accounting processing, although may make some paper system original voucher loss, but at that time the note element information, still will be saved in different occasions.　　Because accounting firms generally follow the important principles of some important and significant business to check, if they will be in accordance with Sichuan Changhong collection vouchers (such as commercial acceptance bill) with the billing unit to consult the certificate of Inquiry, will also retain part of the letter of Inquiry card copy. According to Sichuan Changhong Related financial people, Van der has reported Sichuan Changhong suspected total of 2.25 billion yuan of 71 commercial acceptance, the supervision of the intermediary agencies also carried out the verification of evidence, just at that time the accounting firm kept the full records of these 71.　　Accounting firms do so because 2.25 billion dollars is equivalent to about 20% of the year's sales revenue, and they will naturally check some important and significant business by means of a letter of inquiry. From the current year accounting firm audit working papers and some of the accounting evidence saved, it can be proved that Sichuan Changhong business rationality and document verification, can also prove that Sichuan Changhong no financial fraud problems.　　This has now been confirmed by the regulatory authorities. Sichuan Changhong case tells us, to be in the modern audit, supervision system under the surprise of financial fraud, such as virtual increase of 5 billion yuan sales revenue, are difficult.　　In addition, the intermediary agencies of some working papers or accounting basis for preservation, can also support the listed companies clean or dirty. Of course, "the Qing people from the clear, rumors stop in the wise."　　Sichuan Changhong proved himself innocent by the fact. Accidental events do not affect current valuations since February this year, Sichuan Changhong deep in the so-called "financial fraud door" negative news, but also greatly affect investor confidence. Although Sichuan Changhong timely clarification, but still can not dispel the doubts in the minds of investors, resulting in some investors also difficult to objectively and accurately judge.　　This shows that the incident or Sichuan Changhong caused a great negative impact.　　But with the so-called "financial fraud door" incident is increasingly clear, in view of Sichuan Changhong There is no financial fraud problem, Sichuan Changhong market valuation will return to normal. At present, Sichuan Changhong is facing the rapid development of a good opportunity. For example, 2009 Sichuan Changhong's operating income, operating profit and net profit respectively achieved double growth.　　With the 2010 Sichuan Changhong in the black power of the profitability of further improvement, especially the three C integration and home appliances to the countryside dual industry development of the formation of a new pattern, will certainly promote Sichuan changhong to achieve relatively high speed, sustained profit growth, and further enhance the profitability of Sichuan Changhong. Of course, the current Sichuan Changhong's share price of 5.86 yuan per share of net assets 5.04Yuan is only about 15% of the analysis, close to the share price per share fails to fully reflect the current Sichuan Changhong's company value.　　From the point of view of value investment, the company is still in the margin of safety of investment. The fundamentals return to normal Sichuan Changhong, its valuation advantage will attract more investment eyes. and Sichuan Changhong focus on the development prospects of the information industry, but also gave its future good development vision.