The Risk Of Environmental Trouble In The State Of Asia

< p > recently, the Jiangsu Asian Bond dyestuff Limited by Share Ltd (hereinafter referred to as "ABA dye") issued the prospectus.

The company is mainly engaged in R & D, production, sales and service of "a target=" _blank "href=" http://www.91se91.com/ "textile" /a "dye and dye intermediates.

The planned landing at the Shanghai Stock Exchange is about 1 billion 360 million.

It is worth noting that the amount of the fund-raising plan is 500 million yuan to repay bank loans.

In this regard, the company explained that "compared with the same industry listed companies, the company's asset liability ratio is high.

Meanwhile, the tight supply of bank funds affects the cash flow situation of the company.

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< p > as early as 2011, there were many environmental sensitive problems in the process of environmental protection verification, which attracted the attention of the environmental protection department.

Because of the large quantities of acrylonitrile, liquid chlorine and other dangerous chemicals used in the production of the state of Asia, there are many residents around the factory area and the environment is sensitive. For this reason, the Jiangsu provincial environmental protection department put forward 5 environmental protection requirements, and called for further measures.

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< p > in addition to the above questions, according to the value line, the comparison between the prospectus issued by the company and the prospectus issued by the company earlier found that there were great differences in the data of the actual controller Xu Xiaochu's education background, the capacity output of the state's dyestuff and the amount of purchase.

Therefore, the industry analysis, the two documents are not unified data, one of the data is suspected of fraud.

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< p > investors can not help but sweat for such a company that has all kinds of hidden dangers before listing.

Therefore, the reporter called the telephone of the dye company of Asia, and received no reply at the end of the press release.

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< p > < strong > involving environmental protection problems, declining performance and risk < /strong > < /p >

< p > with China's < a href= "http://www.91se91.com/news/index_c.asp" > dye industry < /a > industrial upgrading, product optimization speeding up, and textile printing and dyeing industry's demand for characteristic and high quality dyestuffs is increasing, some domestic funds and strong dyestuffs enterprises accelerate to enter the high-end dyestuff market.

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< p > according to the prospectus, the net profit of the company belonging to the parent company in 2011, 2012 and 2013 was 179 million 724 thousand yuan, 125 million 298 thousand and 100 yuan and 259 million 399 thousand yuan respectively, showing a large fluctuation.

The reason is that in 2012, due to the worsening of the European debt crisis, the slow global economic recovery and the slowdown of China's economic growth, the market demand of the downstream textile and dyeing industry was weak, and the competition in the dyestuff market was fierce, and the price of products declined.

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< p > apart from the risk of declining performance, environmental protection is also the top priority.

In the process of production, the products of the state can produce a certain amount of waste water, waste gas and solid waste, especially the discharge of waste water is large, which will cause a certain degree of pollution to the environment.

Once the national and local governments promulgate new and stricter environmental regulations and improve environmental standards, the company will surely increase the cost of environmental protection management, thereby bringing about a certain impact on the company's profitability.

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< p > < strong > the duration of construction of investment and investment projects is much longer than that of /strong > /p >

< p > according to the reporter's inspection of the Bon dye prospectus, it is found that the utilization rate of the company's capacity is relatively high, basically in full load production condition, and the production and sales rate of the product is also kept at a high level, showing a prosperous situation of production and marketing.

The bottleneck of production capacity has restricted the development of the company to a certain extent. The company urgently needs to expand its capacity to meet the fast growing demand of the market.

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< p > and the four projects invested by the company raise funds for a long period of time, and the project is completed to full load production for a certain period of time. During this period, changes in market supply and demand, national industrial policy, industry competition, technological progress, company management and talent will all affect the implementation of the project, thereby affecting the expected revenue of the project.

Therefore, there is a certain uncertainty in whether the construction plan of the capital investment project can be completed on time and whether the project can achieve the desired results.

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< p > at the same time, the two Xu Xiaochu and Xu Xudong brothers control 44.38% of the company's shares through direct and indirect ways, and are the actual controllers of the company. After this issue, they are still in control.

The actual controller of the company may use its control position to do something that is beneficial to its own interests, but it will damage the interests of other small shareholders or companies in the company.

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< p > it is worth noticing that by the end of 2007, the proportion of the stake in the a href= "http://www.91se91.com/news/index_c.asp" > the Asian state dye < /a > by the way of capital raising was 7.41% before the issue. If the state of Asia's dyestuff went smoothly, Lantai pharmaceuticals would get a huge investment income directly.

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