The first major customers palm run state heavy industry and death second largest shareholder of the FireWire to share

Core tip: First free transfer of 24% of the right to finance, and then the transfer of the remaining 25% per cent of the equity, was once run state heavy industry, the second largest shareholder of Baomi (Finland), how will be a step-by-step to give up the run state heavy work this piece of fat.　　Zhang Yu Chunkai Beijing reported another private enterprise with stories to the capital market.　　August 23, the SFC issued the 134th meeting of the Commission to consider through the Jiangsu run Bang Heavy Industry Co., Ltd. (hereinafter called Run Bang) of the first application.　　Run state heavy industry's prospectus shows that from 2007 to 2010 January-June, run state heavy industry corresponding operating income of 432 million yuan, 746 million yuan, 11.11 and 572 million yuan, growing rapidly.　　However, the state-run heavy industry in recent years more than 90% of the operating income by the Cargotec group of the "big tree" to achieve.　　Oddly, in 2005 and 2009, the original investor, Baomi (Finland), the predecessor of Hong Bo's 49% stake in the company, withdrew two times "without self-interest" from the state-run heavy industry.　　First, free transfer of 24% of the investment rights, and then by the amount of capital transfer of the remaining 25% of the equity, Baomi (Finland) How to step by step to give up the run state heavy workers this piece of fat?　　Good shade under the tree? Run state heavy industry's prospectus shows that the company's main customers are in the global scope has considerable influence on well-known enterprises, including Mackigga, Karma, Isair (Shanghai) Aluminum Machinery Co., Ltd., Andritz company. However, the reporter carefully found that Mackigga and karma are under the control of the Cargotec Group of two subsidiaries.　　In recent years, Cargotec Group has been sitting in the top spot of the first major customer of the state-run heavy industry. From 2007 to 2010 January-June, the Cargotec group's contribution to the company's operating income was as high as 98.99%, 97%, 93.55% and 82.94%, respectively, from the state-run heavy industry.　　Thanks to the help of this super big customer, from 2007 to 2010 1-the first five major customers in the June run state heavy industry contributed up to 99.57%, 98.38%, 98.34% and 93.68% of the company's revenue.　　But it is not difficult to see, from 2007 to 2010 1-June, run state heavy industry second to the fifth largest customers brought by the total operating income of only 1.42%, 1.38%, 4.79% and 10.74%, relative to its first major customers for their business income contribution, but bucket. and run state heavy industry prospectus on a single major customer reliance on risk so prompt, "as the Cargotec group's main business brand, Mackigga and karma respectively in the form of business units or subsidiaries of independent operation, independent choice of their suppliers," but "if Mackigga and karma operating fluctuations, Reducing the share of purchasing from the company will have an impact on the company's business.　　At this stage, the company has a certain business focus on the main customer risk. Run Bang HeavyWorkers also stressed that the company constantly strengthen and Mackigga, Karma Cooperative relations, but also actively explore new customers, reduce customer focus on the company's impact.　　2008, the company and Isair, Andritz and other new customers to establish cooperative relations, and formed a more stable cooperative relations. But the reporter carefully inquires the discovery, Isair (Shanghai) Aluminum Machinery Co., Ltd. in the state-run shares from 2008 to 2010 1-June, the largest customer list, respectively, the fourth and two second, the contribution to its operating income in the last two or three years is indeed a rapid advance, but its share is still only a mere 0.43%, 3.6% and 6%.　　Another major customer, Andritz, has not even appeared on the list of its top five clients.　　Thus, the state-run heavy industry for its Super customers Cargotec group of dependence can be seen, but in the state-run heavy industry to obtain such a large customer's favor and happy at the same time, its reliance on a single large customer's hidden trouble has also been formed.　　Baomi (Finland): Capital Market "Norman Bethune" September 2003, Prestige Industry and Baomi (Finland) signed the "Sino-foreign joint venture business contract", decided to jointly invest in the establishment of run state heavy industry predecessor of the Rainbow Wave heavy industry. September 25, 2003, Rainbow Heavy Industries obtained the "business license of Enterprise legal person" issued by Jiangsu Nantong Industry and Commerce Administration Bureau, the legal representative is Sha Mingjun, the registered capital is 3.01 million US dollars, and the enterprise type is Sino-Foreign joint venture enterprise.　　Among them, prestige industry invested 1.5351 million U.S. dollars, owns 51% of the company's equity; Baomi (Finland) contributed $1.4749 million to get a 49% stake in the company.　　However, it is noteworthy that in March 2005, Baomi (Finland) and prestige Industry signed the agreement on the transfer of shares, the former agreed to the latter free transfer of its holdings of Hong Bo 24% of the investment rights, only to retain the Hong Bo heavy industry 25% Equity. Since the ratio of 25% per cent is just enough to satisfy the standard of foreign-invested enterprises in China, Baomi (Finland) holds a 25% stake which makes the Rainbow heavy industry receive a tax concession of "two free from three halves". And the state-run heavy industry in 2010 1-June, 2009, 2008 and 2007, respectively, 8.2038 million yuan, 1,937 280,000 yuan, 1,727 760,000 yuan and 1, 2.6842 million yuan income tax concessions, respectively, the company in the current period of the net profit of 9.01%, 12.23%,　　19.33% and 16.93%. Baomi (Finland) there may be specific reasons for the transfer of the right to finance, but in September 2009, after the profit growth of Hong Bo heavy industry entered the fast Lane, its second largest shareholder, Crane (Finland), signed with China, the investment entity controlled by Carlyle Investment Group's management fund.　　Crane Investment Holdings Limited Equity transfer agreement. Baomi (Finland) decided to hold its 25% Hong Bo heavy Industrial stake(a corresponding contribution of $752,500) was transferred to the Crane at a price of $752,500.　　On September 1, 2009, the total amount of the transfer is 5.14 million yuan, which means that the Hong Bo heavy industry is only 205,600 yuan per 1% of the transfer price of the $6.8308 exchange rate.　　Is it reasonable to transfer 25% of Hong Bo's shares in the 752,500 dollar equivalent to the original contribution? Reporter inquires run state heavy industry's prospectus found that from 2007 to 2009, the company obtained total profit of 75.67 million yuan, 100.72 million yuan and 184.29 million yuan, to Baomi (Finland) 25% of the shareholding ratio calculation, only in 2007 to 2009,　　Hong Bo heavy industry for it to create a 90.17 million yuan investment income, close to its original investment of more than 20 times times, the benefits are quite rich. Much more puzzling than this, in September 2009, Baomi (Finland) decided to transfer its holdings of 25% Hong-Bo Heavy Industries to China crane a few days later, prestige industry, Chenguang Investment, Shanghai Italian Xuan, Wu, Shixiao, Sha Mingjun, China　　Crane, with the square and Hangzhou Sen Miao signed the "about Nantong Rainbow Heavy Industry Co., Ltd. of the increase agreement", agreed to increase the registered capital of 660,000 U.S. dollars. Among them, the new entrants to the shareholder with the Square venture and Hangzhou Sen Miao to 42 million yuan and 25.2 million yuan of capital contribution respectively to obtain Rainbow wave heavy work 5% and 3% of the equity, the equivalent of every 1% of the transfer price of 8.4 million yuan.　　More than a few days ago Baomi (Finland) 205,600 yuan transfer per 1% stake jumped 40 times. Put aside two equity transfer price gap not to say that sell the "cash cow" with an annual average income of up to $752,500, and the net worth of up to 240 million yuan (audited data as at the end of September 2009), is not Baomi (Finland) is the capital market "no self-interest, the specialized benefit person"　　Bethune?　　According to the reporter understands, Baomi (Finland) is specialized in the machinery manufacturing industry's multinational purchaser, September 2003 and prestige Industrial Spirit "blows the yellow sand beginning to gold, after the wind and rain to see Rainbow" philosophy of the enterprise, in Nantong Economic and technological Development zone set up in the area of the first China-Nordic joint venture-　　Six years later, the company listed in sight, will be "blown sand, see the Rainbow", what is the reason for Baomi (Finland) to opt out? "I'm not quite sure about the company's situation, but it may be because of the issue of compliance with such listings, or perhaps to address other issues such as tax avoidance," he said.　　August 23, a senior investment banker told reporters, "However, the SFC's review of equity transfer is very strict, the company should have a reasonable explanation." Reporter This call run state heavy Industry Dong Office, a staff member said, "Dong Secretary and Securities affairs representatives are on business, all issues are in publicI'm not quite sure about the specifics.