Category: Money tips Release Date: 2007-04-22
August 30, Changfeng Communication (000892.SZ) announced on, it is proposed the company changed its name to Star-US joint Co., Ltd., company directors and senior at the same time to adjust.
Qin Hui Qin Hong younger brother, Star-US media, will become president and Hao Bin Star-US joint chairman, president and role.
Including two directors, Chief Financial Officer, Deputy Chief and other key positions have also been re-scheduled.
Following the April incident, Qin Hui again appeared the capital market.
Star-US Joint CEO Hao Bin, said in an interview in the coming year, Zhuo Jing's star America Media, DFI and star quality assets investment in the U.S. will work with non-performing assets of Star-US joint replacement, the star-US joint effort to build for digital media operators.
The case, then the Qin Hui in the territory of the Triple major business segments: Changfeng communications, media and friends sing the United States pass, will be the first into one. 2001 Triple of the industry is divided into a framework, now re-gathered.
A result of reorganization "Broad restructuring plan early this year, had been scheduled to good." Closer to Qin Hui, a senior said, "is not implemented for various reasons later, more than two months after the end of May to finalize the program."
With regard to a result of reorganization, there are high-level Beijing, said Zhuo, first of all due to operating difficulties Changfeng Communication. In accordance with the high-level statement, Changfeng main problem is the communications industry, the first drop of the economy, the huge initial investment failed to achieve the expected benefits purposes, followed by a single business model, without a complete business platform, self-only MAN, There is no national backbone network, in the business and user aspects of resource development has been severely limited.
In addition, the high-level point out that the lack of adequate content Changfeng communications products and service offerings to attract users, the slow development of value-added services and asset poor, management, team management's lack of capacity also contributed to the plight of the reasons.
In this regard, Qin Hui Zhuo Beijing in the house has also repeatedly acknowledged that the operation of Changfeng Communication a mistake.
Changfeng Communication August 25 released in 2005 mid-year report also exposed the problems herein. Its income statement shows that the first 6 months of this year's main income of 43.8 million yuan to achieve only 10% over the same period of last year; half of a substantial loss of 116 million, down 544.76 percent compared with same period last year.
According to the consolidated balance sheet, its consolidated total assets of 2.478 billion yuan, 1.788 billion yuan total liabilities of the merger, the merger net assets of only 642 million asset-liability ratio as high as 72%.
Successively in the majority of loans were expected to freeze the creditor banks such as the full circumstances, Changfeng Communication in July 19 this year, was a securities regulatory bureaus of criminal investigation.
For the investigation of the matter, August 29, the current chairman of Changfeng Communication HU Yi-Tung said, "is currently in progress, mainly related to information disclosure and other issues."
There are indications that self-help is no longer alone Changfeng communication possible, Qin Hui had an emergency rush to the rescue.
"I hope to sing the U.S. media, DFI and star-US joint investment and Changfeng Communication to realize the media and digital docking. This is the purpose of reorganization," Hao Bin said, "after the reorganization, Changfeng Communication from the previous single network access income and value-added telecom operators, to the convergence of telecommunications and media as one of the digital media integrated services across the operator's direction and transformation. "
