Green Earth Once Again Revised The Performance &Nbsp; Repeated Mistakes Have Changed To Habit.

The financial affairs of green earth are like trifling matter. Only 2 months after the release of the 2010 business performance bulletin, the company revised a business bulletin of a performance bulletin today.

According to the revised data, the company achieved operating income of 359 million 50 thousand yuan during the reporting period, down 26.70% from the same period last year, and realized net profit of 14 million 470 thousand yuan, an increase of 109.39% compared to the same period last year, achieving a profit of 0.1 yuan per share and an owner's equity of 566 million 590 thousand yuan. According to the performance Bulletin released by the company in February 26th, the company achieved an operating income of 372 million 550 thousand yuan, a net profit of 25 million 180 thousand yuan, a basic earnings per share of 0.17 yuan, and an owner's equity of 597 million 50 thousand yuan. Two sets of data comparison found that the revised operating income and net profit decreased by 13 million 500 thousand yuan and 10 million 710 thousand yuan respectively.

For the reasons for the above performance correction, green earth gives 7 explanations. The most important reason is the change of accounting standards. As a result of the changes in the accounting method of BT projects, the company's operating income in 2010 was reduced by 15 million 70 thousand yuan; the management of the cost of 20 million 390 thousand yuan was included in the management cost; the financial subsidy of 4 million 200 thousand yuan was only 210 thousand yuan in the current operating income. In addition, during the reporting period, the company received a cash donation of 11 million yuan from Casey, the shareholder, and the adjustment reduced by 5 million yuan. The controlling shareholder He Xuekui incurred administrative expenses in order to fulfill the responsibilities and rights of the controlling shareholders. As the first stock option incentive plan failed, the original confirmed share payment cost was 2 million 810 thousand yuan, and the company's own stock assessment was reduced by 16 million 340 thousand yuan, and the net stock loss of each seedling base of the company was 7 million 950 thousand yuan.

Although the explanation of the green earth is detailed, the market is very common for the volatility of the company. During the period from October 2009 to April 2010, the green earth changed its performance forecast and bulletin five degrees. In October 30, 2009, the company announced the three quarter reporting time in 2009. It is estimated that the net profit in 2009 will increase from 20% to 50% over the previous year. In January 30, 2010, the company revised the net profit growth in 2009 to 30% less than that in the previous year; in February 27, 2010, the company released the third performance bulletin for the third time, the annual net profit changed to 62 million 120 thousand yuan, and the net profit revised to -12796 million; and the company's annual report revealed that the net profit was -15123 million yuan.

The green earth has repeatedly made mistakes in financial matters, reflecting the chaotic situation of the company from the side. The company also repeated several times in the appointment of the chief financial officer. Former Jiang Kaixi was removed from office and resigned from Wang Yueguang. In April 8th this year, the new chief financial officer Li Peng was coercive by the public security organs for suspected crimes of not disclosing and disclosing important information. In sharp contrast to the chief financial officer, the company changed its three auditor during the three years of listing. Also worth mentioning is that since last March, the green earth has always been under the hammer of supervision. In March 17th of last year, the SFC set up an investigation on suspicion of information disclosure, and the investigation has not yet come to the conclusion. In December 22nd last year, the controlling shareholders of the company held 43 million 257 thousand and 985 green limited stocks of the limited stock sold by the public security organs according to law. In December 30th last year, the company received notice from the public security organs that the investigation was being carried out on suspicion of illegal disclosure and no important information disclosure. In March 17th of this year, the controlling shareholder of the company and the former chairman He Xuekui were arrested by the public security organs for their alleged fraud in issuing shares.

Green land also released the first quarter results announcement in 2011. As the main source of revenue in the current reporting period is still engineering income, part of the construction progress has not been confirmed by Party A, and some projects have just started construction, and the revenue is not yet recognized. Therefore, the company expects a quarterly loss in the first quarter, with a loss ranging from 12 million yuan to 17 million yuan, compared with a profit of 15 million 394 thousand and 500 yuan in the same period last year.