subject: Yang Said The Company's Ipo Shares Nine Statements Have Not Been Manipulated - Soymilk, 9 Yang - [print this page] Recently, some media reported that nine Yang shares (0022420,2006 in income tax expense 0 yuan, to infer that there are hidden benefits company's history, the suspicion of tax evasion. Core business revenue in 2007 doubled over the previous year However, total profits increased 8.6 times, serious reports of suspected manipulation of IPO companies, and that the 2007 report and previous annual reports the two are not comparable.
Response to these reports, the company clarified that the holding company and subsidiary of Hangzhou, Shenyang in the absence of nine violations of the state's tax laws and regulations due to be punished in the case, there was no manipulation of case reports.
Tax during the reporting period on the company's situation and income tax expense in 2006 the issue of 0 dollars the company to enjoy the "two exemption three half" of the tax incentives, so the company in 2006, tax holidays, so that year 0 income tax charges .
On the company's total profit growth in 2007 and the statements of comparability problems quickly under the regulatory supervision of the IPO enterprise spirit, with the industry to eliminate competition, reduce the related party transactions, the company in June 2007 with the holding of the original merger ability of new technologies by the Shanghai Investment Co., Ltd. Hong Holdings Hangzhou Hong Yang. The merger is the same under the control of mergers. By the same act under the control of mergers retroactive adjustment to the financial statements reported during the first principle, the Company has prepared pro forma consolidated income statement during the reporting period. According to the pro forma consolidated income statement, the company revenues in 2007 increased 87.23% over 2006; the same period, gross profit increased by 2.48 times. Media misnomer total profit of the company in 2007 was 8.6 times higher than the previous year, the company reported consolidated income statement is based on 2007 and 2006 data to compare the results. But according to the "Enterprise Accounting Standards," prepared for filing the consolidated income statement data for 2006 does not include the operating results of Yang Hangzhou 9, 2007 and 2006 data not comparable, the company should be disclosed in the prospectus pro forma consolidated income statement data as a basis for comparison. Companies do not control the behavior of statements.
Our main products are soybean milk,
Cooker And other kitchen Small appliances Products, in 2007 the company sold 4.38 million units Soymilk, the market share of over 85%, industry ranked first; cooking machine, juicer sold 222 million units, the domestic market share of over 30%, industry ranked first; Induction sold 302 million units, more than 10% market share, industry ranked second; open kettle, purple clay pot sales of 121 million industry ranks second.
Basic as Soymilk company synonymous with soybean milk market is expected to maintain growth of more than 40%. Meanwhile, the company's own brand, continue to expand food machine, juicer and other kitchen appliances market and create new profit growth point.
Kitchen small appliance industry in China booming prospects. China, with the cost advantages of scale and technology to undertake the world's most small appliance orders, has become the world's most important production base of small household appliances. Currently, the average household has fewer than 10 small home appliances, with European and American countries is much lower than the level of 20-30 per household. The life cycle of small household electrical appliances generally only 3 to 6 years, the product replacement rate faster than the traditional household appliances, small household electrical appliances continued consumer demand for redemption. As people's living standards improve and the increasing importance of the kitchen supplies, small household appliances market prospects, the next 5 years industry sales growth will reach 20%.
