Mei Xin Da Zhong Bao Disclosed That Net Profit Fell By Nearly 97% In The First Half Of The Year.
On the evening of August 24th, Mei Xinda (002034.SZ) issue the 2012 China Daily. In the first half of 2012, the company achieved a total revenue of 585 million yuan, down 7.59% from the same period last year, and realized net profit of 2 million 131 thousand and 200 yuan, down 96.85% from the same period last year.
Affected by this, the price of Mei Xin Da fell 4.18% in August 27th.
In addition, investors found that the accounts receivable account for more than 3 years in the China Daily reported a strange phenomenon of "growing over time".
Net profit fell 96.85%
ODA textile performance plummeted
Although Mei said that the company's production and operation during the reporting period is in good condition, but due to the impact of the international and domestic economic downturn, the first half of 2012, the company achieved a total revenue of 585 million yuan, down 7.59% compared to the same period last year, and realized operating profit of 3 million 972 thousand and 200 yuan, down 77.87% compared to the same period last year. Net profit of 2 million 131 thousand and 200 yuan, down 96.85% compared to the same period last year, and realized net profit of 1 million 396 thousand and 600 yuan, down 87.55% from the same period last year.
In this regard, the company explained that the company's operating income and operating profit has declined, mainly due to the domestic and international economic downturn, shrinking sales volume, customers squeezing profit margins caused by gross profit and net profit fell sharply, the main reason is that the last stage of the ODA textile land use rights were seized, the corresponding increase in the disposal of illiquid assets due to profits, and this period did not happen.
Mei Xinda, a textile and dyeing and printing company, landed in the capital market in August 26, 2004. The legal representative is Rui Yong, the chairman of the company. The company actually controls Dan Jianming.
According to the industry, in the first half of 2012, the absolute income of the textile industry of Mei Xin's main business decreased by 38 million 63 thousand and 400 yuan, down 22.25%, gross margin dropped by 7.57 percentage points, and the absolute income of printing and dyeing industry decreased by 20 million 376 thousand and 400 yuan, down 4.6%, and gross profit margin decreased 1.1 percentage points.
At the same time, the absolute sum of domestic sales revenue of Mei Xin Da decreased by 19 million 359 thousand and 400 yuan compared with the same period last year, a decrease of 5.32%, and the absolute amount of export income decreased by 39 million 80 thousand and 400 yuan, a decrease of 15.61%.
Compared with the same period last year, maindda's gross profit has declined considerably this year. Raw cotton The price of the company's textile products continued to decline, but the sales price of the textile products of ODA textile company also declined. However, due to the large inventory, the cost remained at a higher level, resulting in a monthly decline in gross profit margin, which directly led to the gross profit margin of the textile industry lower than that of the same period last year. The printing and dyeing industry is mainly affected by the international economic downturn.
From the operation and performance of several major subsidiaries and shares of the company, in the first half of 2012, ODA textile lost 2 million 183 thousand yuan, compared with a profit of 123 million yuan in the same period last year, a year-on-year decline of 101.77%.
In several other subsidiaries or shares, the company lost 831 thousand and 500 yuan in its dyeing and printing, a decrease of 50.31% in the same period, and a profit of 537 thousand yuan in raw material supply, an increase of 191.35% over the same period last year. The profit of the company was 305 thousand and 800 yuan, a decrease of 44.69% compared to the same period last year, and the profit of green refining was 14 thousand and 200 yuan, a decrease of 92.73% over the same period last year.
For the future, the United States Xinda expects 1-9 months in 2012, the net profit change interval is 3 million yuan to 5 million yuan, the net profit change range is -93.10% to -95.86%. The reasons for the overall change in net profit over the same period last year are still mainly due to the non recurring gains and losses gained from the acquisition and storage of the textile land use rights of ODA, a subsidiary of the controlling company last year, but this is an accidental event.
Affected by its performance, in August 27th, the price of Mei Xin Da opened below the highest price of 9.45 yuan, closing at 9.16 yuan, down 4.18%.
More than 3 years of "odd" increase in accounts receivable
In addition, investors found that there seemed to be some problems in the accounts receivable of the company.
According to the 2012 China Daily, the accounts receivable of bad accounts prepared by Mei Xinda were accounted for by the age analysis method. As at the end of June 2012, the book balance of accounts receivable for more than 3 years was 13 million 839 thousand and 400 yuan; but at the end of 2011, the accounts receivable balance of accounts receivable for more than 3 years was 5 million 492 thousand and 200 yuan, even assuming that all accounts receivable in the 2 to 3 years of the same period occurred in the first half of 2009, the book balance of 7 million 195 thousand yuan would be transferred to more than 3 years.
In 2011, the China Daily reported that the book balance of 2-3 years of accounts receivable of maxinda was 7 million 447 thousand and 500 yuan, and the book balance of accounts receivable at least 3 years or more was 4 million 556 thousand and 600 yuan. To 2012, the total account balance of accounts receivable in 2012 was at most 12 million 4 thousand and 100 yuan, which is also less than the account balance of accounts receivable for more than 3 years in 2012.
However, since the first half of 2011 to 2012, the company has not disclosed significant acquisitions, nor did it write off accounts receivable in the current period, and accounts receivable collected in 2011 were only 36 thousand and 700 yuan.
Then, as time goes by, it should be gradually reduced due to the repayment of arrears by the arrears. Accounts receivable How did the amount increase?
In August 27th, the reporter called Liu Zhaohe, a manager of the company, but did not answer the phone.
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