Tianlong Optoelectronics (300029.SZ) in the first quarter of 2013, accounts receivable surged by RMB 45 million, accounting for nearly 50% of the current operating income. At the end of the first quarter of 2013, Tianlong Optoelectronics received accounts receivable of 314 million yuan, an increase of 54 million yuan from the end of 2012, which was twice the amount of accounts receivable in the first quarter of last year.
However, the company's operating income in the first quarter of 2013 was only 114 million yuan, and the current accounts receivable contributed nearly 50% of its operating income, reaching 47%.
According to the company's quarterly report, the industry continued to be sluggish in 2012. The downstream enterprises have stopped production in large areas, and even on the verge of bankruptcy. The funds are tight. The risk of payment to the company's accounts receivable is increased, and there is a risk of further impairment of receivables.
According to Wind data, on June 27, 2013, Tianlong Optoelectronics issued 387,600 shares of the original shareholder's restricted shares, which accounted for 12.6% of the total share capital of the current period.
Some investors believe that the company clearly knows that the industry continues to be sluggish, and there is further risk of impairment of accounts receivable, but it still continues to surge accounts receivable, suspected of escorting restricted shares.
It is worth noting that Tianlong Optoelectronics' asset impairment loss in the first quarter of 2013 was RMB 0.07 billion, a year-on-year increase of 39,606 times. In addition, the company's non-operating income in the first quarter of 2013 was 0.03 billion yuan, a year-on-year increase of 9699 times.
The explanation for this quarterly report is that the main reason is that the subsidiary Jiangsu Zhongyu received government subsidies.
However, the company's operating income in the first quarter of 2013 was only 114 million yuan, and the current accounts receivable contributed nearly 50% of its operating income, reaching 47%.
According to the company's quarterly report, the industry continued to be sluggish in 2012. The downstream enterprises have stopped production in large areas, and even on the verge of bankruptcy. The funds are tight. The risk of payment to the company's accounts receivable is increased, and there is a risk of further impairment of receivables.
According to Wind data, on June 27, 2013, Tianlong Optoelectronics issued 387,600 shares of the original shareholder's restricted shares, which accounted for 12.6% of the total share capital of the current period.
Some investors believe that the company clearly knows that the industry continues to be sluggish, and there is further risk of impairment of accounts receivable, but it still continues to surge accounts receivable, suspected of escorting restricted shares.
It is worth noting that Tianlong Optoelectronics' asset impairment loss in the first quarter of 2013 was RMB 0.07 billion, a year-on-year increase of 39,606 times. In addition, the company's non-operating income in the first quarter of 2013 was 0.03 billion yuan, a year-on-year increase of 9699 times.
The explanation for this quarterly report is that the main reason is that the subsidiary Jiangsu Zhongyu received government subsidies.
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