The hottest Zoomlion annual report data is no prob

2022-08-11
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Zoomlion: no problem with the annual report data, the profit growth comes from innovation

Zoomlion: no problem with the annual report data, the profit growth comes from innovation

China Construction machinery information

Guide: the 2011 Annual Report data disclosed by Zoomlion Heavy Industry Co., Ltd. last year, the company achieved a cumulative operating income of about 46.323 billion yuan, a year-on-year increase of 43.89%, and realized a net profit attributable to the shareholders of the parent company of about 8.066 billion yuan, a year-on-year increase of 72.88%. The annual report shows that Zoomlion's profit growth in 2011 was much higher than its revenue

according to the 2011 Annual Report data disclosed by Zoomlion, last year, the company achieved a cumulative operating income of about 46.323 billion yuan, a year-on-year increase of 43.89%, and a net profit attributable to the shareholders of the parent company of about 8.066 billion yuan, a year-on-year increase of 72.88%

the annual report shows that the profit growth of Zoomlion in 2011 was much higher than the revenue growth. On the one hand, it was due to the technological innovation of the enterprise, which constantly launched high value-added products, and the gross profit margin increased by 2.1 percentage points year-on-year; On the other hand, while expanding its scale, the enterprise strengthened the control of period expenses and continuously improved its operating efficiency. The period expense rate (sales expenses, management expenses, financial expenses, sales taxes and surcharges, asset impairment losses and other five expenses) decreased by 1.73 percentage points year-on-year

stock trend of related companies

Zoomlion 2. Digital display tensile testing machine: also known as microcomputer tensile testing machine: the test data are directly displayed on the LCD screen, with the interest rate of 11.00+0.151.38% increasing by 2.1 percentage points year-on-year; On the other hand, while expanding its scale, the enterprise strengthened the control of period expenses and continuously improved its operating efficiency. The period expense rate (sales expenses, management expenses, financial expenses, sales taxes and surcharges, asset impairment losses and other five expenses) decreased by 1.73 percentage points year-on-year

as a leading enterprise in China's construction machinery industry, Zoomlion's annual report attracted much attention. Some media questioned the accounts receivable and individual related party transaction data of Zoomlion's parent company, Ms. hongxiaoming, vice president and financial director of Zoomlion, said in an interview: "Zoomlion's domestic and international annual financial reports have been reviewed by Baker Tilly International Certified Public Accountants Co., Ltd. and KPMG certified public accountants Co., Ltd. respectively, and a standard unqualified audit report has been issued. The financial and accounting report is true and complete, and there are no false records, misleading statements or major omissions."

the top five accounts receivable of the parent company and the top five sales revenue are not the same entity. The total number of customers in the top five accounts receivable balance of the parent company "top five accounts receivable" disclosed on page 149 of Zoomlion's annual report within one year is 3367.7403 million yuan. According to the information disclosed on page 153 of the company's annual report, Zoomlion's parent company's "sales of the top five customers totaled 147.1042 million yuan" in 2011. Because there was a large gap between the two groups of data, some media concluded that Zoomlion's information disclosure "violated the normal financial logic" and may even lead to "Zoomlion's parent company falsely increased a large amount of profits."

in response, Hong Xiaoming responded that: in the 2011 Annual Report of Zoomlion, on page 149, four of the top five accounts receivable balances of the parent company have a total aging of 3.367 billion yuan within one year. These four companies are subsidiaries within the scope of the consolidated statements. The main reason for the data is the parent company's sales to subsidiaries, which is due to the sales model of Zoomlion, and this part of the sales revenue has been offset in the consolidated statements. On page 153, the sales of Zoomlion's parent company's top five customers in 2011 totaled 147.1042 million yuan, which is the sales data of the parent company to end customers other than subsidiaries. Because the balance of accounts receivable is static time point data and the sales revenue is dynamic period data, at the same time, the accounting entities of the two groups of data proposed above are inconsistent, so it is not comparable

at the same time, in the accounting policy disclosed on page 92 of Zoomlion's annual report, Zoomlion classified the accounts receivable from subsidiaries within the consolidation scope as a combination of nature, excluding bad debt reserves, while the top five manufacturers in the parent company's accounts receivable balance within one year were all current accounts of subsidiaries, and there was no practice of less withdrawing asset impairment losses by adjusting the aging of current accounts of subsidiaries. According to the disclosure rules of listed companies, the net profit, earnings per share and net assets per share in the financial statements are reflected by the test consolidated financial statement data of body, chassis, frame, car interior, seat belt, window glass, etc. the parent company's data will not play a role in regulating profits, and the theory of "falsely increasing large profits" simply cannot be established

"this is actually a misreading". A senior securities analyst said: as investors, if they want to really understand the financial information of a company, their focus is on the consolidated statement information. Because the consolidated statements of enterprises are based on control and reflect the overall financial situation, operating results and cash flow of the enterprise. Generally speaking, the data in the consolidated statements exclude the data of related party transactions between the parent company and subsidiaries. It is a comprehensive summary of the financial status and operating results of the enterprise. It is very important and more referential for accounting information users to understand the financial status and financial results of the whole enterprise

in addition, according to the related sales information disclosed on page 146 of Zoomlion's annual report, 2. Open the experimental gearbox. In 2011, the amount of goods purchased by the company from the related party Hunan Taijia New Material Technology Co., Ltd. was 45900 yuan. However, according to the "related party transactions" part of the prospectus published by Taijia new material on May 9, the sales amount to Zoomlion in that year was 118600 yuan, It is 72700 yuan more than the data released by Zoomlion. In this regard, Hong Xiaoming said: the main reasons for the differences need to be further checked by both parties. "Zoomlion has always put integrity first and adhered to transparent information disclosure. The company can ask auditors to re audit the data. If there are errors, the company will correct them

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