The Balance Of Cistar Shares Has Been Suspended For Several Months, And The Amount Of Compensation Has Been Broken 600 Million.

According to the data released by P on Friday, the balance of the company's guarantee amounted to 1 billion 316 million yuan at the end of 1, a decrease of nearly 1 hundred million compared with the previous month. The data has declined for fifth consecutive months, indicating that the company has made some progress in finding a solution to the problem. But at the same time, the amount of compensation for customers has exceeded 600 million yuan, which is almost two times that of the company's net profit of 284 million yuan -3.41 billion last year. < /p >
< p > buyer's credit mode includes two ways: Sales guarantee loan and entrusted loan. Cixing shares has been immersed in the industry for many years, and has been adopting this sales mode, and has set up a wholly-owned guarantee subsidiary to isolate the guarantee risk. In the industry boom, this way undoubtedly played a role in accelerating the promotion of business, and the rate of loan non-performing also maintained in single digits. But people do not calculate well. The subprime mortgage crisis and the European debt crisis have seriously affected the textile industry in the downstream of the company. The negative power of the "double-edged sword" of buyer's credit model shows that the rising proportion of compensation and bad debts has eroded the profits of the company, making it very difficult for Cixing share. < /p >
< p > 2012, < a href= "http://www.91se91.com/news/index_c.asp" > Cixing shares < /a > for 18 customers, the total amount of 96 million 457 thousand and 900 yuan guarantee loss was 60 million 23 thousand and 200 yuan, and the proportion was 62.22%. For the end of the year, although the single amount was not significant, the other receivables for the provision of bad debts were 73 million 369 thousand and 300 yuan, the provision for bad debts was 33 million 623 thousand and 200 yuan, and the proportion was 45.83%. < /p >
Less than half a year, the situation became worse and worse. < p > In the middle of 2013, the total provision for bad debts raised by the total guarantee amount of 78 million 515 thousand and 400 yuan for 17 customers reached 73 million 351 thousand and 700 yuan, with a proportion of up to 93.42%, of which 11 customers made full loss. With a large number of compensable customers who can not repay the loan principal and interest paid by the company, the amount of other receivables at the end of the term is not significant, but the single receivable account for bad debts is raised to 268 million yuan, with a loss of 89 million 799 thousand and 700 yuan and a proportion of 33.52%. < /p >
< p > the situation has not changed since last month's estimate of Citi's annual performance in 2013. It acknowledges that due to the default of customer sales guarantee loan, the company's compensatory payments for customers continue to rise. The company's compensation for assets has been substantially increased in the form of a href= "http://www.91se91.com/news/index_c.asp" > bad debt reserves < /a >, and the sum of assets impairment losses and operating expenses has increased by nearly 80 million yuan compared with the same period last year. A large number of bad debt charges further resulted in an increase of income tax expense of about 30 million yuan over the same period last year. < /p >
< p > facing the dilemma of "a href=" http://www.91se91.com/news/index_c.asp > textile industry < /a >, Sun Ping fan, chairman of Cixing shares, said it could consider the scheme of customer equity debt repayment. But he also pointed out that the company needed to consider the risk of entering the sweater processing industry, and the compensatory assets and operating conditions of such companies were not good. The implication is that equity debt is really a way out. < /p >
< p > in the first half of last year, there was a rebound in the market of computerized flat knitting machines. In June, the main business income of Cixing shares reached the highest level of 254 million yuan since its monthly disclosure report, but then it began to decline month by month. In recent four months, the main business income was less than 100 million yuan. Revenue dropped to 34 million 615 thousand and 800 yuan in January this year, down 76% compared with the same period last year, the lowest value for its monthly business situation. Despite the influence of the Spring Festival, it is still 7% below the February Spring Festival. Just like the recent weather, the company feels "deep cold". < /p >
"P >" Cixing share ", at the end of last year, accepted the agency research, said that the computerized flat knitting machine has several hundred thousand units in the market, and the life of the product is about 10 years, which means that the replacement demand of computerized flat knitting machine will increase gradually after 2 or 3 years, so the market demand will gradually stabilize. < /p >