129742938788750000_70An ordinary anime clothing manufacturer, was transformed into cultural and creative companies, in the ascendant when the wave of cultural industries, was launched to the gem impact.
However, if you tear this "creative" coat, carefully observe the essence of the company, the results may surprise you. Relying too much on large customers, located inIndustry chain, lack of own-brand, high gross profit margin at the end, issues a lot. "Mei Sheng shares only OEM business. "Pointed out sharply, analyst at a securities company in Shenzhen.
Even more absurd is that the joint-venture company of actual control Zhao Xiaoqiang false registration, suspected of an offence. Contract manufacturing, has nothing to do with creative "Mei Sheng shares to produce cartoon costumeMaster, relying on indirect authorization does not design, segmentation of this processing model is end of the industry chain, developing space-constrained, margins.
"These brokerage analyst told a press conference. It is understood that the business model there are three main types of anime dress: brand carriers (OBM), original design manufacturers (ODM), and original equipment manufacturers (OEM) model, domestic enterprises currently using the OEM mode. Mei Sheng stake claim to be long ODM model, but look at the prospectus found, Mei sheng and Disguise, Christy and other foreign suppliers, owned by the independent brand enterprise of providing clothing samples or drawings, Mei Sheng accordingly for fabric development, procurement and production, there is noPrimary design of cartoon images.
Prospectus that, since the beginning of 2010, Mei Sheng started OBM in domestic sales, however, during the reporting period, product export ratio of Mei sheng, 93.15%, and 96.83% respectively, the domestic market is insignificant. Although the Terminal sales price for the production of the traditional costume sales3-5 times the price, and cartoon costumes for 8-10 times, vendors and terminal space larger premium outlets, but manufacturers lack of bargaining power, unable to share high profits in the animation industry line. Shing flagship Disney clothing to the United States, for example, from 2009 to 2011, sale price $ 30.33, respectively, $ 32.51, 3$ 7.26 and $, and the Terminal price gap. Rely on large customers, the agreement will expire and different OEM manufacturers in other industries, Mei sheng has not received direct authorization of the Disney, but indirectly through the Disguise, Christy and other vendor authorized production. Its product suppliers and United States ' Disguise,Mega Toys and the United Kingdom, such as Christy.
During the reporting period, Mei sheng first Disguise large customer sales, 72.38%, and 56.63%
world of tanks power leveling, respectively. In addition, Mei Sheng opened three stores in 2010 in the domestic direct sales cartoon costumes, but only ifObtain authorization.
Prospectus shows, and huatedishini (Shanghai) limited the effective period of the license agreement is June 1, 2010, the contract is about to expire. Mei Sheng industrial chain in the passive direct also have a raised risk of investment projects, raise investment project expansion full postnatal added capacity of 10 million sets of cartoon costume. Not, Mei sheng has been in accordance with the "producing according to sales" modes of production, yield but also its 2010 anime costumes 4.6983 million, project capacity was quite "full fat".
False registration, suspected of illegal and most absurd of all, Mei Sheng Zhao Xiaoqiang false cultural control people registered, in the name of joint-venture companies tax leakages. 2002 years, Mei Sheng registered as a joint-venture company, but the reality is the Chairman of Zhao Xiaoqiang Rafael · yintesixun without the knowledge of the case, using the copies of their passports and to apply for company registration and subsequent registration of changes in the name, Raphael himself is not to the US funded Seng jewelry, their contributions to the Hong Kong company is financed by Zhao Xiaoqiang KELFORD (HongKOng) LTD borrowings, and entrusted the company holding jewelry capital account fund remittance to the United States. In other words, the company established the contribution actually paid by little Johnny Zhao, Zhao Xiaoqiang is the only shareholders of yoshimori real. This is in clear violation of the provisions of the company law, "false report of registered capital, submission of false information or other fraudulent concealment of material factsAchieved registration of companies, the company registration office ordered corrective action and submitted false materials or other companies for fraudulent concealment of material facts, is punishable by a fine of $ 50,000 and 500,000 yuan the following, in serious cases, revocation of registration or revocation of the company's business license ". However, since 2005
wot power leveling, Mei sheng began foreign-invested enterprises enjoy income tax "halve the two from three"The preferential tax policies, applicable income tax rate was 15%
wot power leveling, applicable income tax rate for domestic enterprises 25%. In 2009, little Johnny Zhao the same trick again, to 10.0938 million price was held by Rafael cent of equity, but this is not a real transfer, prospectus explains: "the fact is the result of xinchang foreign trade and economyCooperation Council and Shaoxing city industrial and commercial Administration Bureau agreed that, to correct the problems left over by history.
"Beautiful sung by change of Sino-foreign joint ventures for domestic enterprises, and pay a $ 3.4808 million used to enjoy tax benefits as a Sino-foreign joint ventures. In this regard, Rafael completely uninformed, the prospectus said it has pledged to "do not seek legal responsibility", related legal persons that: "Rafael's rights had been violated, but no trial in civil cases and do nothing, Zhao Xiaoqiang does not constitute economic crimes, administrative punishment can be light to".
In 2011, Sheng received government grants $ 4.9679 million, $ 1.4871 million more than the amount of back taxes. Two low price master shareholder lurk lurking in the list of shareholders of yoshimori shares for twoEquity investments, and they are He Xiaoling and Hu Lijuan.
In December 2009, Beijing capital increase, He Xiaoling, Hu Lijuan, respectively to subscribe to 700,000 and 840,000, subscription price of $ 10.8 million, and $ 9 million. 2010 Mei Sheng shares changed as a whole, each 3.15 million shares and 2.625 million shares, the average cost per share is only 3.43. Data show that He Xiaoling had held China Star Enterprise (300,025) (300,025. SZ) 4.32 million units, was ranked the sixth-largest shareholder. Hu Lijuan is electronic (300,270) (300,270. SZ) 1.05 million units, is the fourth-largest shareholder, at the same time, Hu Lijuan, Shenzhen greatpack machinery 99.Of 50% shares. It is understood that the Lai shing and Hongsheng industrial investment advisory class belongs to the industrial investment, asset management companies, the stake in capital of Zhao Xiaoqiang of the two games, assets from the left hand to the right hand.
