Mei Bang Clothing Was Exposed To Financial Fraud, Resumption Of Trading Volume Fell 6.48%

On the 14 day, some media reported that Smith Barney was suspected of financial fraud.

Affected by this, the 15 day American state dress temporarily suspended.

Today, the United States of America clothing resumption, opened at the low and low, eventually closed at 16.75 yuan, the whole day fell 6.48%.

Information from the Shenzhen Stock Exchange shows that

Clarification announcement said, in October 14, 2012, a media published the title of Metersbonwe's account making secret, which is a report on how to digest the inventory beautifully and beautifully report. In the report, it questioned the United States State clothing inventory digestion and financial accounts, and found that the company "gloss over beautiful reports" and "suspected financial fraud" companies were concerned about the above reports, which was seriously untrue after verification.

In the first half of this year, the main revenue of Smith Barney apparel was 4 billion 600 million 343 thousand and 900 yuan, an increase of 21.21% over the same period last year. Net profit was 432 million 190 thousand and 500 yuan, an increase of 14.83% over the same period last year. Its net profit attributable to shareholders of Listed Companies in January -9 is between 745 million 541 thousand yuan and 894 million 649 thousand and 200 yuan, with a range of 0% to 20%.

Mei Bang apparel said that the company has always adhered to the direct channel and joint development strategy, as at the end of 6 2012.

The number of shops is 3817, accounting for 74% of the total number of stores. In the first half of 2012, the company joined the wholesale sales revenue of 2 billion 240 million yuan, accounting for 49.2% of the total sales revenue, an increase of 20% over the same period last year, lower than the same period last year.

Compared to the same period last year, the sales volume of wholesale sales dropped by 0.57 percentage points.

According to the Securities Daily, the reason for "the birth of the gorgeous report" is attributed to the pre allotment and the company's approval.

"And" suspected financial fraud. "

American Apparel explains that the apparel industry is not matched by the retail season and the allotment season. Before the retail cycle comes, the company's product predistribution is based on the futures contract of the franchisee, which is the basic operation mode of the garment industry.

The company's specific sales revenue recognition principle for franchisees is to confirm sales revenue when sending goods to franchisees, and the outgoing documents are retained for reference. There is no case of goods being out of stock or "virtual out of stock", that is, confirming revenue.

In addition, the company has strict internal control system for the business process and accounting treatment of the assigned products.

According to the futures order contract, the sales data entered by the business department can be automatically audited and judged by the ERP system (ERP), and the corresponding documents can be delivered to the Treasury before it can be pferred to the financial reexamination and accounting treatment. Finally, the finance can confirm the revenue.

It is impossible for the financial department to enter the false income data unilaterally.

In 2013, the first phase of the company's goods had not yet been put into storage, and it was impossible for them to "gloss over the beautiful statements."

As regards the inventory digestion problem, which is most concerned about the market, the announcement shows that by the end of 2012 6, the inventory of Smith Barney clothing had dropped by 800 million yuan compared with the beginning of the year, of which the sale of old products brought about a decrease of 1 billion yuan in inventory and an increase of 200 million yuan in the new product inventory.

In the first half of this year, the total sales volume of the company to the related party AI sang state was 320 million yuan, the total sales volume to the related party was 390 million yuan, the corresponding inventory reduced by about 200 million yuan, accounting for about 8% of the total sales cost of the company, which had little impact on reducing the inventory size of the company.

In addition, Smith Barney also explained the turnover rate of senior executives in recent years.

Since 2010, the total number of managers and managers in the company has been stable at around 300 people, the turnover rate in 2011 is 9.3%, and the turnover rate in 2012 has been 10.9%, which has always maintained a more reasonable level in the apparel retailing industry.