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1、AnalysisoftheFinancialFraudMethodaboutZixinPharmaceuticalIndustrialCo.,LtdPart1:CompanyProfileJilinZixinPharmaceuticalIndustrialCo.,Ltd.,asatraditionalChinesemedicinecompany,alsoisahigh-techjoint-stockenterprise.OnMarch2nd,2007,thecompanywaslistedontheShenzhenStockExchange
2、.ThecompanyisprincipallyengagedinproprietaryChinesemedicinesR&D,productionandsales,andmedicinalplantcultivationandbreeding,thetreatmentofcardiovasculardiseases,digestivediseasesandbone-settingclassofproprietaryChinesemedicinesforthedominantspecies.Mainproductsaretabletforp
3、romotingcoronarycirculation,muskcapsuleforcoaptation,capsuleforrefreshingreengineering,fourwonderfulpill,capsuleforrenalrehabilitationcapsule,oralliquidfortonificationandsedative,andsoon.Makingabriefintroductionofthecompany'sdevelopmentprocess:In May1998, thelimitedliabili
4、tycompany(LLC)wasestablished.In November1998, the EGM decided to increasetheirinvestment, itsregisteredcapitalincreasedto 30million yuan.OnFebruary9,2001, thecompany’snet assetswereconvertedinto equalshares,andthetypeof thecompanywaschangedtothestocklimitedcompany,andthe c
5、apitalstockwas35.65million.OnMay28,2001, changedtoZiXin PharmaceuticalCo.,Ltd.OnMarch2,2007, listedontheShenzhenStockExchange.In November2010, in cooperation withJilin Tonghuagovernment,andfirstforayintothe ginseng business.OnAugust9,2011,First temporary suspension.On Augu
6、st10, resumptionoftrading,share pricewas19.58,amountofincreaseis0.93%OnAugust17,2011,thesecond temporarysuspension.OnOctober24, resumptionoftrading, threeconsecutive lowerlimit.Part2:AnalysisofZixin’sFinancialFraudFromtheabovefigure,wecansee,inthepastfouryears2006-2009,the
7、totaloperatingincomeandnetprofitofZixinhadmaintainedasteadygrowth.Intheopinionofindustryanalysts,before2010,althoughrichproducts,itssalesofthesinglespecieswassmaller,thereisnoabsoluteadvantageamongthecompetitiveproducts,andmostproductswerefacedwithfiercecompetition.Sothest
8、ockperformanceontheopenmarketalsoshowedtepidandnetprofitamountedtojustabout￥50-60million.
