Funding, grants, enterprise reform Fund sth����NSFOCUS on tax incentives and Government subsidies under nearly 10. access to government benefits, to a certain extent, is also the company's ability, but if most of the profits benefit-dependent contribution, we have to doubt the true Cartier Handbags profitability of the company.����In 2011, NSFOCUS net profits of 93.0207 million Yuan, net rates of 22.43%. but that enjoy tax incentives and Government subsidies in the amount of $ 52.1614 million, per cent of net profit in the year amounted to 56.08%. in 2009, 2010, it is also up to and 51.67%.����In other words, the net profits of the company, more than half from tax incentives or subsidies. If this income exclusion, roughly 10% per cent of net profits of the company only. Visible effect concessions to be made net profits of major
Essence. preferential policies are not without periods, if the policy changes, Cartier Handbags may have an adverse effect on the operating results of the company. only rely on business to achieve real profit, is the foundation of sustainable development. Addition, although Green au technology in offering manual in the everywhere performance out on industry prospects of good, but under IDC research report forecast, 2010-2015 information security products market of composite growth only for 18.8%, and 2012 yihou of growth every year fell. While, has has manufacturers also will faced international manufacturers and the domestic new into manufacturers of impact. Although Green au technology as industry within Prada Handbags of leading enterprise may will get relative better of growth of space,����But are difficult to get rid of the entire industry's development trend.����Cash flow from operating activities of a sharp reduction in accounts receivable and cash flow changes, further reflecting the NSFOCUS earnings quality poor. In 2011, the company revenue to 4.1
$ 500 million, an increase of nearly 40%. but it should be more than 100 million of accounts receivable, 63.49% per cent, accounting for revenues of nearly one-fourth. at the end of current assets, receivables accounted for more than 27.61%, far higher than the level at the Prada Handbags end of 2010. current assets structure, monetary funds accounted for a 10% lower than 2010.����In should accounts receivable paragraph surge in of while, 2011 by produced of cash and the cash equivalents net increased amount appears plays reduction. which, business activities produced of cash flow per cent fell has 60%. business activities cash flow and net profit of ratio is evaluation Enterprise profit quality of a index, green au technology 2011 this a ratio insufficient 50%, company to out of explained is year business sexual meet project increases fell and should received project amount increased. Integrated accounts receivable and cash flow situation, despite the revenue and profits of the company, but there is a big part of staying in accounts receivable
Shang, poor quality earnings. once the bad debt risk, the company's operations will be affected.����PE charge effects on stability performance of NSFOCUS has not only uncertainty, hidden risks of instability on the ownership structure.����NSFOCUS, formerly known as the Green Alliance limited, August 11, 2010, company for wholly foreign-owned enterprise, established by the sole shareholder is registered in the Cayman Islands Cayman NSFOCUS. to tie in with the list goal, after a series of complex equity plans and interests after the split, by wholly foreign-owned enterprise of the company changed to Sino-foreign joint venture enterprise. After equity structure formation, holding more than 5% of only four shareholders, Investor AB Investment Limited, Lenovo, respectively, Lei Yan and Shen Jiye investments, stake, 29.7948%, and 17.8254%, respectively. ownership structure of the company distributed, no