A Large Number Of Registered Trademarks In Xun, Hidden Risks In Financial Data

< p > data show that Zhongxun agricultural science was established in 2002 with a registered capital of 75 million yuan. The company is located in Zhongkai national hi tech Industrial Park, Huizhou, Guangdong. It is a agro chemical enterprise specializing in pesticide formulation development, production, marketing and providing professional plant protection technology for farmers.

< /p >

< p > > a href= "http://sjfzxm.com/news/index_f.asp" > Company < /a > party said, as of the prospectus day, the company has three products, 230 products, 49 patents (48 patents), and 780 registered trademarks. Among them, "Zhong Xun", "kelilong", "hight agricultural" and other brands are well-known throughout the country.

< /p >

< p > previous reports indicate that there are 780 registered trademarks, which are unique among the listed pesticide companies.

It is understood that there are only 634 salespersons in the Agriculture Department of XXX, less than their trademarks.

< /p >

< p > prospectus says, in the process of brand operation of the company, from single brand, double brand development to multi brand operation, the profit brought by brand extension and differentiation increases year by year.

The company performance pull mode is mainly for the old brand to maintain scale and appropriate growth, the rapid development of new brands, bringing the overall sales scale growth.

< /p >

< p > < a href= > http://sjfzxm.com/news/index_z.asp > > /a >, the practice of the company is not a permanent solution.

The company said frankly that since 2011, this model has begun to encounter bottlenecks, the value of brand differentiation has reached a critical value, and it is difficult to continue to differentiate the brand to achieve greater returns.

During the reporting period, the growth rate of the company's pesticide preparations revenue slowed down, compared with 10.89% in 2012, and 8.83% in 2013 compared with 2012.

< /p >

< p > in addition to the above problems, the hidden risks in the financial sector of the agricultural sector are also not to be underestimated.

< /p >

< p > prospectus shows that from 2011 to 2013, the operating income of the company was 434 million 613 thousand and 800 yuan, 488 million 825 thousand and 100 yuan and 560 million 516 thousand and 300 yuan respectively, showing a steady upward trend.

< /p >

P, however, at the same time, the company's stock balance is also rising.

At the end of 2011, the end of 2012 and the end of 2013, the company's inventory balance was 165 million 142 thousand and 400 yuan, 178 million 524 thousand and 600 yuan and 208 million 194 thousand and 600 yuan respectively, accounting for 37.92%, 37.33% and 37.84% of total assets respectively.

< /p >

< p >, the company also bluntly said that if the market changes, improper storage, natural disasters and other reasons, resulting in the company's inventory damage or impairment, will have an adverse impact on the company's performance.

< /p >

< p > in addition, prospectus shows that the accounts receivable at the end of the reporting period were 85 million 394 thousand and 700 yuan, 71 million 29 thousand and 100 yuan and 83 million 929 thousand and 700 yuan respectively, representing 19.61%, 14.85% and 15.26% of total assets respectively.

< /p >

< p > the company said that with the continuous expansion of the company's sales scale and the further development of the market in the future, the number of dealers in the company's cooperation will be more and wider, and the proportion of accounts receivable and accounts receivable in total assets will probably increase.

The growth of accounts receivable may lead to a rise in the provision for bad debts of accounts receivable, resulting in a decline in corporate performance.

< /p >