Associated with too much debt because of Lida Optical rectification was ordered

 Securities Times reporter Zhang Jia

business association because of too much debt and some financial accounting and related issues such as accounting standards do not match, profit photoelectric (002189) has been Henan CSRC shall order rectification.

SFC January 10, 2011 the company received

profit of the main problems is the optical business association increasing the amount of arrears, affecting liquidity of listed companies. As of December 31, 2008, December 31, 2009, June 30, 2010, associated Fang Zhongguang School Group Co., Ltd., Nanyang Optical Co., Ltd. South intelligence combined operating profit of optical 17,999,500 yuan less, 30.0781 million yuan , 52.7946 million yuan. The amount owed the two companies operating more and more, affecting the flow of funds of listed companies. Securities Regulatory Bureau ordered the company by contract to step up collection of accounts receivable and maintain the interests of all shareholders.

Secondly, the Leader confirmed that the percentage of completion photovoltaic solar concentrator project revenues, costs, accounting standards do not meet the income requirements. June 2010, the company under the Public Investment Co., Ltd. Nanyang Xin Sun recognized income shaped the progress of 5.38 million yuan, the cost of 6 million yuan provisional estimate carry-over, the cost does not match the revenue recognition criteria, revenue is recognized more than 5.38 million yuan, the cost of 6 million dollars.

In addition, the profit of the financial accounting and related optical part of the accounting standards do not match or the company disclosed accounting policies do not match. For example, the commission material processing accounts processing problems; inventory impairment provision, back and other related accounting and accounting standards do not meet the requirements; the bill of lading without the consignee's signature.

It is reported that South Nanyang Lida Optical Intelligent Photoelectric Co., Ltd. entrusted processing materials, respectively, in financial accounting as sales, purchases for processing, not as a delegate processing to accounting and accounting standards do not meet the requirements. The basis of recognition of income for the company bill of lading, and bills of lading on delivery and approval of people per capita sales for the company, preparation of bills of lading without the customer's receipt or acceptance certificate.

address the problem, Henan Securities Regulatory Bureau asked Lida Optical seriously study the laws and regulations, the reform measures put forward practical and rectification plans, and in February 7, 2011 to submit a written report.

Lida Optical, said the company will actively find the root of the problem, a detailed description of the above problems, recommend practical measures for rectification and norms in the formation of rectification within a time limit programs, and timely performance information disclosure obligations.