Whether the general road will be investigated over reliance on the Great Wall computer

Li Yu December 20, Shenzhen Supply Chain Management Co., Ltd. (hereinafter referred to as "General Road Pass") will be on the IPO, which also made the 2008 stake in the General Road pass, and look forward to the listing through the general road to achieve "a rich dream" of Zhejiang Business venture to create a temporary "dream broken."　　And the intriguing is that, after the Zhejiang business venture into the Stock Road pass, 2007 has not yet become the top ten major customers of the Great Wall computer (000066.SZ), 2008 appeared to become the first major customers, the first half of 2010 is accounted for more than 44% of the operating income, the general road to become a "food and clothing parents" one.　　Zhejiang Business ventures to invest 30 million yuan into the main business of General Road, including supply chain design and optimization, procurement distribution, inventory management, capital settlement, customs logistics and information systems supporting many links, including a number of integrated supply chain management services.　　According to the prospectus (report), General Road Tong intends to be listed in Shenzhen Stock Exchange, the first public issue of a 16.8 million shares, accounting for the total share capital after the issuance of 25.15%, the net assets per share of 2.37 yuan/share before the issue, CIC Securities as the main underwriter.　　The release plan will be used to raise funds for two projects, of which 52.25 million will be used in the medical device supply chain management project, about 200 million yuan for the electronic information industry supply chain management project, the total investment amount is about 253 million yuan. Through the General road in July 2008, the shareholders will consider the adoption of investment in Zhejiang Business venture invested 28 million yuan into the general Road pass; in May 2009, the natural person Li Jushang will hold 0.94% of its stake to 2 million yuan of the price transfer to Zhejiang business ventures, so that the Zhejiang business to create appeal to a total of 30 million yuan, The shareholding ratio reached 14.06%.　　October 2009, General Road General Change set for the joint-stock company, Zhejiang Business ventures to hold 7.03 million shares.　　Over-reliance on the Great Wall computer?　　In the first half of 2010, the general road to the Great Wall of computer sales revenue of 274 million yuan, accounting for the current period of business income of 44.22%, 2009, the whole year amounted to 592 million yuan, the operating income of 50.61%, visible General road to the Great Wall computer This single customer's high dependence.　　In 2007, the Great Wall computer was not seen in the top ten clients list, and the Great Wall computer in 2008 contributed 20.8% of the sales revenue, reaching 202 million yuan. Plouton said that the supply chain management industry in China's development process is not long, the current customer focus on the business in China's multinational companies and more involved in the international market leading enterprises, which led to a relatively concentrated company customers.　　The company is currently providing supply chain management services in the field mainly in the electronic information industry, faced with the industry's boom level fluctuations in the company's profitability impact on the risk.　Cash flow "lost" the combined cash flow statement shows that the net cash flows from operating activities in the first half of 2009 and 2010 were 9.18 million yuan and 70.35 million yuan respectively, while net profit was 20.3 million in the first half of 2010.　Plouton explained that the increase in capital strength, the commercial credit among customers, the proportion of the company's purchase of credit also rose faster, the company's accounts payable at the end of June 2010 increased by 79.0856 million yuan.　　In the first half of 2010, the company's advance procurement and inventory of goods continued to improve, at the end of June 2010, the company prepaid and inventory increased by 46.28 million yuan and 38.09 million yuan respectively at the beginning of the period. On the other hand, the company's business contribution to customer advances in the service category has also increased, leading to a widening of the company's other receivables and other payables (mainly reflecting the scale of the company's advances to clients) from 8.78 million yuan at the end of 2009 to 51.08 million yuan at the end of June 2010.