129724959025081844_194Although China car rental before the Spring Festival, begun in 2012 China companies went to the US IP o first, greatly boosted investors and some of the planned landing United States market for the company's confidence. But there are still many people in the investment community concerns about China car rental the IPO, the present United States capital markets is not an all-round improvement, and the company's revenues also areShowed continued losses, therefore completely unnecessary at this point in time falling market IPO. According to China car rental now submitted to the United States Securities and Exchange Commission (SE c) F-1 file first 9 months of 2009, 2010 and 2011, a net loss of $ 3.2 million and $ 43.3 million and $ 117.6 million
rs items for sale, respectively, means that companies in recent 3 yearsNot only was not profitable, losses are increasing. Other analysts to the economic information daily reporter, financial data of China car rental points, increase the gross margin of allegations that might be unfavourable to its IPO. In response, analysts pointed out that a reasonable explanation is that China car rental in the inverse IP o, as well as his reported doubts behind may be the largest shareholderHolding capital game layout. Recommended reading on January 31 illustrations: normal technical adjustments to shocks to a-shares in local rally die auspicious start Outlook cautious rebound pattern of renewal of China a-shares in HKEx offering worry-start a shares opened weaker Outlook was langma several points of thinking on nuggets of information the man higher up "plans break unit" [micro-Bo] RMB appreciation and the a-share the mysterious relationship [shares] old shareholders said there would be this position by the end of the investment community have pointed out that F-1 file (the file that information in a prospectus is incomplete, you may make a difference) showed that China car rental vehicles for a period of 3 years, 3 years after the disposal. The vehicle price range given according to the F-1 file, and each timeCalculate the number of vehicles
runescape items for sale, vehicle depreciation rate is 39% per cent of the average 3 year around average depreciation rate of 13% per cent. With this data, one industry source told reporters, according to the current domestic situation, passenger cars in previous years, the average annual rates of depreciation of the vehicle at around 20%, and car rental carsFrequently, poor maintenance, and therefore depreciation is more serious. Another company is engaged in car rental services to reporters, at present, several major car rental service vehicle company average annual rates of depreciation at 20%, where a company data released at the time of financing is 19%. In addition, domestic cities, used car's depreciation rates are higher thanAt this level, three years before even giving some used car dealers, 30% and 45% the rate of depreciation. In response, the analysis of a financial analysts told a press conference, differences in depreciation rate is only about 5%, but for the company's profit and loss, particularly gross margin has a big impact. Car rental F-1 files because China does not disclose detailed gross margin data, we do notCalculation on its impact.����Comparison to industry average depreciation rate level, China car rental "depreciation" may raise suspicion of gross margins. Other analysts, professional investment site wrote, China car rental direct operating costs significantly lower management costs obviously too high, the same doubts. F-1 documents show that China car rental managers now 509, marketAnd sales of 118 people, a total of 627; the third quarter of 2011, the corresponding management costs $ 77.89 million, an average of $ 120,000, that figure significantly higher than similar levels of car rental companies. In addition, throughout 2010, the administrative cost of China car rental is $ 15.52 million, 2011 growth markedly 62.37 million Yuan, an increase of up to 400%�� These analysts pointed out that, according to the characteristics of the car rental industry, managers on the number of slow growth.����Therefore, China car rental has the potential to be part of the direct operating costs go to administrative costs, reducing direct operating costs, and improve gross margins. In this respect, investment bankers believe that reporters, did not rule out China car rental through reasonable financial means "beautiful"Financial data, that can help companies gain a higher valuation, for landing United States markets, a higher stock price and market capitalization.����Among other things, the analysis of investment bankers, inverse IPO in China car rental and financial concerns
runescape items, is likely to be the wishes of the legend of big shareholders. Publicly available data showed that Liu Erhai and legend holdings executives Zhu Linan control g rTo the China car rental investments and accumulated nearly 2. $ 200 million, current equity ratio 64.; and c e o h aodeG roupInc Lu Zhengyao through their holdings and his wife holding SkySleekLim ited together holding companies 29.12% shares. It is worth noting thatIs that China car rental up to about $ 2.5 billion of debt, part of the legend-guaranteed loans, part of Lenovo holding shares of financial companies secured loans.����In addition, Lenovo Chairman LIU Chuanzhi, has said publicly before, legend holdings to achieve within the next three years the overall listing. A combination of the background, once the landing legend capital marketsThe immediate objectives, you need to submit a satisfaction of the investors "report card". Is widely believed that if China car hire excellent performance, ideal disposition should be as one of the assets owned by legend holdings, included in the legend's listed as a whole. But according to the revenue in the current situation, China car rental are likelyA legend of a headache "hot potato". Investment banker analysis mentioned above, if we can achieve legend listing as soon as possible, on the legend, would be the best outcome. Doing so can keep listing split the "burden", and raise money to repay loans, guaranteed legend's are good assets of the listed subjects as possible. In addition, borrowed list legendSubstantial capital gains, further optimizing their financial data, its listed as a whole. For the above analysis, many investment professionals agree and pointed out that, very typical paths to market for China car rental, investment holding is one of the big shareholders and then helping subsidiary massive borrowing and repression at loss price competitors, thereby expanding market share, up-endTo the capital market, financing major shareholders of money, large shareholder profit exits. The capital operation of routine, in the capital markets is not uncommon, especially in the more common markets in Hong Kong. But the United States market is more focused on value investing, so China car rental with successive years of losses, "record" impact IP o can be investors recognized, can bring substantial gains to the legend, untilIts officially before it can be seen.
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