Three Fung Intelligent high margin is accused of outrageous local exemption how to circumvent the system

Information picture three Fung Intelligent IPO series three Fung Intelligent high margin is accused outrageous local exemption how to evade system Editor's note: Hubei Sanfeng intelligent Conveying Equipment Co., Ltd. (hereinafter called "Sanfeng Intelligence"), its IPO road seems to be left only one foot distance. It is understood that three Fung Intelligent main rail car technology threshold relatively low, the relevant production enterprises nearly 20, "vicious competition is particularly serious, market price war prevails, and low profits." "And the three Fung Intelligent Prospectus disclosed in the first half of this year's main intelligent transmission equipment gross profit margin as high as 37.04%. "37% gross margin, in this industry is almost a miracle." "The same day, is located in Huangshi, another main vehicle transport equipment, the head of the business in the phone told reporters.　　Similar doubts have been expressed by a number of people in the industry.　　Hubei Sanfeng successfully through the Gem September 20, Hubei Sanfeng Intelligent Conveying Equipment Co., Ltd. (hereinafter called "Hubei Three Abundant") as scheduled.　　In addition to the imminent boom in entrepreneurial assets, a special distributor behind it is equally compelling.　　Late to 2010 to enter Hubei Sanfeng top five customers list of 31 Group Co., Ltd. (hereinafter referred to as "31 group"), in September "surprise" shares in Hubei three abundant, become its 9th largest shareholder.　　As a result, it was not long before a group of 7 executives made a collective debut of the 2011 Forbes rich List of 31 groups, and will be "small" to make a fortune. Gaumauli is accused of outrageous three Fung intelligent new plant located in the south of the city Golden Hill Development Zone Jinshan Avenue, from the city in the past need to go through a cave, according to local drivers, the future of urban factories will be relocated to this point, three Fung Intelligent plant and office building has been built, the plant is stacked with steel materials, it is obvious that　　This is a new factory.　　According to the three Fung Smart prospectus, the company's first half of this year's comprehensive gross profit margin of up to 36.48%, and in 2008, 2009, 2010, the data are also high 29.77%, 32.42%, 35.55% respectively. "It's strange that gross margin is impossible. It (product) price or low, in order to market impulse, the price is relatively low, and we cost is the same.　　"A senior industry insider in Yellowstone said to reporters. Reporter in the interview learned that Yellowstone has more than 20 of its own car enterprises, after more than 10 years of development, market homogeneity of competition, the industry's gross margin has been "washed" very low. "Often only 10% to 20%.　　"One industry personage to this newspaper reporter expresses. "The gross profit margin between 20%~25% and over 25% is often very difficult," said a senior executive at the Yellowstone Economic Development zone.　　"Although there are different criteria for gross margin, respondents agreed that the gross margin of the three-abundant intelligence was" outrageous ". How to evade the system of local exemption three Fung intelligence is a company in Huangshi, Hubei province. Since Huangshi have not been listed in the last 14 years,Three Fung Intelligent on the meeting, placed the great expectations of Yellowstone. So Yellowstone has a great deal of "care" for the suspected tax evasion of the three-abundant intelligence.　　Not only the three abundant intelligence evasion tax behavior is high-sounding to call "The installment pays enterprise income tax", and after Huangshi the local tax bureau to decide does not constitute the serious illegal act, to levy the tax the related responsibility not to investigate. But the "exemption" of the Yellowstone Local government does not alter the existence of the IPO mishap of the three-abundant smart-evasion tax. In fact, this mishap, even the three Fung Intelligent company is also scary.　　In the company's prospectus, the "tax risk incurred by instalments of corporate income tax" is also listed as one of the "risk factors" that specifically alert investors. However, this makes the three abundant intelligence scary "risk factor", incredibly in the three abundant intelligence will not be thrilling. It can be said that in the three-abundant intellectual tax issue, the Commission has seen the face of the Yellowstone government. However, this time, it is clear that the performance of the audit committee is not strict. In the face of the three-abundant intelligence meeting, the Commission should at least put the issue of taxation at a minimum to inform the public about the reasons why the three-abundant intelligence will be passed. If the local government "exemption" to the problems of the company will replace the audit committee, I believe this "exemption" will be overwhelming.