Huge loss Qingshan Paper Center Daily News Big Shareholders 173 000 000
August 5, Qingshan Paper published semiannual reports, not only the first half of Qingshan Paper huge loss, but Big Shareholders of issues remain unresolved.
Not only by the loss of 49.1491 million yuan Financial Crisis
Statements showed revenue Wei 592 million yuan, 893 million less than the same period last year 300 million yuan, or 33.67 percent; total profit -4581.79 million, 35.3908 million yuan less than the same period last year profit 81.2086 million yuan, reduction of 229.46%; net profit attributable to parent company -4914.91 million, 24.3669 million yuan less than the same period last year profit 73.516 million yuan, or 301.70%. deducting non-recurring gains and losses after the net profit -4965.24 million, a decrease of 322.96%.
Statements explain the sharp drop in operating income and benefits of the main reasons, one of the global financial crisis, the continuing impact of economic recession, and export packing are closely related Cardboard Products continued weakness in the market, sales dropped 27.19% year on year, prices fell sharply, continuing low volume and price run; photoelectric processing trade exports Sell Volume down 38% or more, and lower prices; second weak demand, the output of machine, underemployment, resulting in higher manufacturing costs over the previous year; Third, early digestion of raw materials and finished goods inventory cost; Fourth, current provision for part of the assets for impairment.
Same report also said the forecast end of the beginning of the next reporting period the cumulative net profit or loss may occur with significant changes over the same period last year. By the global economic downturn and is expected to export packaging company and the main products are closely related Cardboard , High-strength Corrugated paper Products and photo processing trade export markets remains severe, early to predict next reporting period's cumulative net loss remains.
Big Shareholders implementation of the program is still 173 million
Report also announced progress in the proceedings, on the first major shareholders of Fujian Qingshan Paper Qingzhou Papermaking Limited liability company 173 million operating funds used the case of disputes, the Supreme People's Republic of China was June 18, 2008 Final Judgement in favor of Qingshan Paper, Higher People's Court in Fujian Qingshan Paper has been seeking to enforce the current The case is being implemented.
2007 Big Shareholders dispute continues today, Qingshan Paper on this issue has been clearly received ineffective handling arrears and just write-offs, loss of assets of the huge responsibility not seen anyone.
From the report view, Qingshan Paper has been this huge sum of money for the provision for bad debts. Current Qingshan Paper Industry, "the disclosure of accounts receivable for bad debts by type" table the amount of bad debts has reached 59,810,900.
Report shows, Big Shareholders as the largest shareholder of Green Island in Fujian Qingshan Paper Co., Ltd. due to business operating 173 million accounts receivable balance.
As for the accounting section of the detailed reasons, Qingshan Paper has not been disclosed, only to disclose the progress of the litigation itself. January 10, 2007 announcement, the decision on the largest shareholder in Fujian Qingzhou Paper Co., Ltd. occupied the company's funds matters to the courts and agreed to accept a draft or part of the company's physical assets accumulated not more than 90 million yuan as preservation of the security related litigation. After the announcement of the content is the limit of large shareholders sell shares 7140 shares were frozen and the proceedings progress, until this year's report shows the state-owned legal person shares of 85.68 million were frozen.
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