Light Media Listed Documents Frequently Missing &Nbsp; Registered Capital Difference Of 6 Million

The company's listed documents are also "Oolong".

Open the listing document of Beijing light media Limited by Share Ltd (hereinafter referred to as "light media").

A sponsor of the investment bank told reporters that it was inevitable that there would be clerical errors in the prospectus, but it was the first time he heard of such a sensitive information.

Data "Oolong"

Light media June 17th knocking on the door of gem, according to the door

The home page of the above capital evolution document indicates the evolution of the equity of light media.

The left side is the evolution process of registered capital, with the explanatory notes of each increase in the right side, the layout is quite concise, and the error is clear at a glance.

The first line of the left side, "Beijing light Advertising Co., Ltd. was established in April 24, 2000, the registered capital of 10 thousand yuan" description is questioned.

According to the company law, where the minimum amount of registered capital of a limited liability company is RMB 30 thousand, where does "10 thousand yuan" come from?

Reporters also found that on the left side of the front page of the home page, "the registered capital is 88 million 200 thousand yuan", while the right side reads "

The detailed description of the light media prospectus and the capital stock evolution documents shows that in April 24, 2000, the registered capital of the company was 500 thousand yuan, while the total registered capital before the prospectus was 82 million 200 thousand yuan.

"50" and "1", "8220" and "8820", the company applied for listing, so sensitive information has repeatedly made mistakes?

As of press release, light media has not yet responded to this newspaper question.

Is there any mistake in the pre disclosure documents?

The two sponsors said in an interview with reporters: "it should not, because it does not cause substantial obstacles."

But the wrong content still surprised them. "The preparation time for the prospectus is 2~3 months, but in a hurry, but the registered capital is sensitive information and key observation data. It is unbelievable to make mistakes on this."

The sponsors also told reporters that the capital stock evolution manual is a statutory document, which must be of importance.

The material is prepared and signed by the sponsor. Now it is not clear whether the reason for the specific mistake is whether it is deliberately modified or the template is mistaken.

Similarly, there were 11 directors and executives of the light media.

For the sponsor of the light media, CITIC Jian, once again, it is unbelievable: the material is rough and the business team is not strict.

Litigation integrity

Another incident of light media has also attracted the attention of journalists.

Jiahua Li Yin's main activities include hosting, acting, making and so on.

In June 2009, natural persons Mou Sufang, Yang Shaoqian and Yang Jian (Jia Hua Li Yin's original shareholders and actual controllers) filed a civil action, requesting confirmation of the agreement on pfer of shares between the light media and the light media, and effectively ordered the light media to pay the remaining share pfer price in cash by 28 million 641 thousand and 822 yuan.

In July 15, 2009, the light media filed a counterclaim, requesting the lifting of the equity pfer agreement and returning the paid share pfer price.

In December 2, 2009, the second intermediate people's Court of Beijing made a judgment of first instance and decided that the equity pfer agreement was effective and required that the light media should pay 28 million 641 thousand and 822 yuan to Mou Sufang, Yang Shaoqian and Yang Jian within ten days from the date the judgment came into effect.

In December 23, 2009, the light media appealed.

In May 25, 2010, the Beijing Higher People's court made a final judgment, dismissed the appeal and upheld the original judgment.

The process of equity pfer agreement was disclosed in the prospectus: in October 2007, the two sides made four payments, and the first three prices were fixed prices, which were 1 million 800 thousand, 7 million 200 thousand and 10 million 800 thousand respectively, totaling 19 million 800 thousand yuan.

The amount of last payment is derived from the formula of net profit in 2008 (PE). Net profit is more than 8 million yuan, PE is 6, PE is 4.5.

Audited accounting firms are designated by light media in the four largest accounting firms.

The first three payments were held on schedule, until the last payment in 2009. The two sides had a dispute over the net profit of Jiahua Li Yin in 2008. The light media not only failed to fulfill their obligation to pay, but the defendant filed a counterclaim after the Court went to court, and hoped to get all the prices back.

In the prospectus, the description of Jia Hua's net profit data is not consistent. In the risk warning item, he wrote, "Jia Hua's 2008 profit."

It has reached the 6 million 870 thousand and 800 yuan entrusted by the pferee to audit, but in introducing the part of the subsidiary company, the form also shows "4 million 593 thousand and 900 yuan".

Therefore, the reporter selected the court's judgment amount of 28 million 641 thousand and 822 yuan, compared with the light media accounting account at the end of 2008, found that if the light media fulfil the agreement in early 2009, the cash will be in short supply. At this time, the light media has only 30 million 586 thousand and 200 yuan in cash and cash equivalents.

In 2010, cash assets in its hands were slightly better.

Some analysts questioned whether to choose the net profit at this time point, whether it was to defend the company's interests or to change the space in time.

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Related comments

Listing is an addiction.

Light media to be listed, "Jianghu" has long been rumored, but the choice of gem is still a bit of a puzzle.

As soon as we mention the light media, a film and television industry immediately reacts: "the entertainment news program has been sold to the national level stage, and has painted" painted skin ".

In his speech, he was quite sure about the status of the light media "entertainment scene".

But is there any innovation in film production?

The above said that the production process is the same, and innovation is the content, form and sales.

Due to the listing of 300027.SZ and 300133.SZ, cultural industry companies are beginning to seek the "fast lane" of listing.

In the absence of a reasonable "lift board" mechanism, these companies seem to be blind to the financing problems in the later stage. In fact, the cultural production industry demands no less than the Real Estate Company chain.

The refinancing system of gem is advancing. However, regulators have repeatedly indicated that the threshold will be higher than that of the motherboard.

Perhaps, the motherboard is "short pain", and the gem is a "long pain."

Nevertheless, many companies prefer the latter when they go public. Listing may be a real addiction.

Or is there a view that the extra capital raised by the gem can make the company do not need to refinance for a certain period of time?

Unfortunately, the consequences of creating over raised capital are emerging. The bubble of high price earnings ratio is on the verge of collapse.

However, many companies are going to go public first, no matter what they will do in the future.