On June 15th, the International Women's Volleyball Grand Prix Foshan Station kicked off. What many people don't know is that Foshan Lighting, the Chinese women's volleyball sponsor, almost became a stumbling block to this event.
"I originally decided that Foshan Lighting is the sponsor of this competition, but near the competition day, Foshan Lighting suddenly canceled the sponsorship temporarily, which made us very embarrassed. At that time, the tickets for athletes from all over the world to Foshan were already booked." Foshan Municipal Sports Bureau The person in charge told the reporter.
More than two weeks after the end of the Grand Prix, Foshan Lighting broke the scandal of undisclosed related party transactions.
Yesterday, Foshan Lighting Chairman Zhong Xincai still refused the reporter's interview on the grounds of “being in a meeting, thank you for your concernâ€. According to some sources, Foshan Lighting will explain the related transactions on the 12th.
Affiliated company transaction amount or oversized shareholder
A number of reports have pointed out that Zhong Xincai's two sons involved the undisclosed related party transactions, namely Foshan Snowo California Electric Co., Ltd., controlled by Zhong Yongliang, and Foshan City Slangbo Enterprise Co., Ltd., which Zhong Yonghui actually controlled.
The reporter visited Foshan Lighting Chancheng headquarters yesterday. The company security and several employees shook their heads and shook their heads after hearing the reporter mentioning the related party transaction. The shop in the north of the Lijiang River is still closed, and the adjacent Snooker is half-open.
An employee who left Shinoqi told reporters that Snowy will buy finished products and semi-finished products from Foshan Lighting, assemble the parts themselves, and then sell them on their own brands. At the same time, it will also be procured from Other suppliers. “The size of the company is not very large, and there are probably more than 20 employees in the factory.â€
According to the data, Snoch is registered by Zhong Yongliang with a capital of 140,000 US dollars. The business scope includes lighting products, mold production and import and export business. On its official website, Snooker claims to be a subsidiary of Schnoch Commercial Appliances Co., Ltd. in China.
The Schnoch website claims that its main product is energy-saving lamps. The reporter made a simple comparison of the energy-saving lamps displayed by Schnoch and Foshan Lighting on their respective websites, and found that the product models and development plans of the two companies are extremely uniform. The two are very close in terms of color rendering index and luminous flux.
The Slang cyber controlled by Zhong Yonghui is even more mysterious. According to the information provided by the Foshan Industrial and Commercial Bureau, the company's industry category is wholesale and retail, but in its official English website, Slamba claims that the company has a manufacturing plant in Luocun Town, Nanhai District.
According to the information registered by Sri Lanka in "Alibaba", the company's annual turnover is RMB 30.01 million/year - 50 million yuan/year, and the number of employees is 51-100. According to its English website, 60% of the ZLAMP brand of lighting products are exported to the United States, Europe, Australia, Southeast Asia and other countries and regions.
The company's product list also includes LED products, and the proportion is not small, and Foshan Lighting has just suffered a setback in the LED business.
How much the amount of related transactions between the two companies and Foshan Lighting is undoubtedly the key. Previously, the former sales director of Foguang Lighting told the media that Foshan Lighting’s output to the two companies accounted for no more than 10% of its total OEM sales, and the proportion of Foshan’s domestic sales was about 1 % or 2%.
According to Foshan Lighting's 2011 annual report, the company's related transaction amount of selling products or providing labor services to controlling shareholders and its affiliates during the reporting period was 96.22 million yuan. The buyer with the highest sales volume was Youchang Lighting Equipment Co., Ltd., which was 70.78 million yuan. During the annual report period, Foshan Lighting's domestic operating income was 1.38 billion yuan. If the above-mentioned former sales person in charge disclosed the facts, according to this calculation, the total amount of Foshan Lighting's output products to Schnoch and Slamba may be between 9 million and 13 million yuan.
It is worth noting that the transaction amount of Foshan Lighting's sales or provision of labor services to the major shareholder Osram during the annual report period was only 7.3 million yuan.
Insiders comment: Zhong Xincai is a strong character and easy to offender
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