"Pseudo Italy" Brand Hits A Stumbling Block Again

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"Listing road" has attracted much attention from all circles. Just before George White's dress was ready to go public, the rapid growth of profits was suspected of being whitewashed.

At the recent stage, the Foreign Trade Committee of the Ministry of economic development of Italy came to China to crack down on the "pseudo Italy" brand.

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The prospectus shows that George white dress is "a Sino Italian joint venture", born in

Italy, in strict accordance with the management of Italy headquarters clothing management and production technology, adhering to the ancient Rome Royal classics, showing the European fashion customs, and the brilliant Italy culture and art come down in one continuous line, is a symbol of taste, status and fashion.

However, after Georges white foreign shareholding ratio dropped to 18.06% after 2009, it did not conform to the nature of foreign-funded enterprises and should not enjoy the preferential tax policy of "two exemption and three reduction".

Starting from 2007, George White enjoyed the "two exemption and three halved" policy of income tax, and the company was suspected to pay less than 30 million yuan of corporate income tax.

At the same time, Georges white dress Kunming and Inner Mongolia branch said in the external propaganda: "Italy Georges white dress Group Co., Ltd. was founded in 1896, is a professional clothing group integrating design, production and marketing.

The company has several production bases in Italy, France, Britain and Japan.

The reporter found in his prospectus that the predecessor of George White Dress Limited by Share Ltd, Wenzhou George White, was jointly funded by Pingyang County shirt factory and Italy Georges white Garment Co., Ltd. in May 1995, while Italy Georges white dress Co., Ltd. was founded by Mr. Chen Liangren, the major shareholder of Georges white dress Limited by Share Ltd, in March 24, 1992. That is to say, Italy Georges white Limited was born in 1992, so the brand can only be traced back to 1992.

Before long, the Foreign Trade Commission under the leadership of the Ministry of economic development of Italy established the office of intellectual property in Beijing. After 1 years of collecting and investigating, 60 counterfeit Italy brand enterprises were found in the Chinese market.

The Commission has submitted 30 batch of "pseudo Italy" brand to China, calling on China to take measures to protect Italy brand.

The reporter asked whether the white costume was "fake Italy" brand counterfeiting object. The committee set up the office of Intellectual Property Office in Beijing and told reporters that they will pay close attention to this brand.

In addition, financial analysts also pointed out that the rapid growth of Georges white costumes on the eve of the listing has been whitewashed.

Prospectus data show that the prospectus data show that in 2009, 2010 and 2011, the business revenue of Georges white dress was 302 million 297 thousand and 100 yuan, 416 million 486 thousand and 700 yuan and 589 million 708 thousand and 900 yuan, respectively, which accords with the growth rate of 39.67%.

The growth rate of net profit is obviously higher than that of operating income. Data show that in 2009, 2010 and 2011, net profit reached 40 million 577 thousand and 300 yuan, 72 million 453 thousand and 800 yuan and 94 million 240 thousand and 800 yuan respectively, which accords with the growth rate of 52.40%.

Especially in 2010, when operating income grew by only 37.77%, net profit growth reached an astonishing 78.56%.

Analysts pointed out that to achieve net profit can achieve substantial growth purposes, there are no more than several means, such as the sharp rise in product prices, or further expand the sales channels.

The prospectus shows that the main products of George White are Western-style clothes, trousers and shirts. The total sales revenue of these three products account for more than 70% of the main business income.

In fact, the contribution of price factors to profits is limited.

In 2010, nearly 30% of the Western clothing prices were reduced by 7.61% compared with the same period last year, while shirts rose by 1.10%, and only the price of trousers increased by 14.56%.

This shows that the net profit growth in 2010 has reached 78.56%. It may only be through other aspects, such as adjusting sales, management, finance and other expenses to achieve the goal.

However, in the past three years, Georges white dress statistics show that the "three costs" statistics show that from 2009 to 2011, they were 96 million 490 thousand and 900 yuan, 110 million 775 thousand and 200 yuan and 151 million 192 thousand and 700 yuan respectively, and the increase in 2010 was 14.80%, far below the 37.77% increase of the main revenue in that year. However, in 2011, the increase was 36.49%, which was not much different from that of the main business.

Experts say that although the "three costs" can not be fabricated, it is easy to achieve the purpose of regulating profits through it.

For a normal enterprise, it will maintain relatively stable three expenses, and increase simultaneously with the performance, but the growth rate is slightly lower.

However, there is a big gap between the two data.