Kids Clock,Flip Clock For Kids,Table Clock For Kids,Desk Clock For Kids Guangzhou Huanyu Clocking Technologies Co., Ltd. , https://www.findclock.com
Recently, on a construction site in Shaanxi, dozens of migrant workers in Sichuan pretended to be Yuan Fang’s salary, which attracted attention. It is understood that the boss has owed them more than 4 million yuan of wages, and repeatedly urged them to fail. In order to attract attention, they came up with this "singular trick" and asked the boss to ask "Yuanfang", which is helpless. If the normal rights channel works, why do you have to rack your brains?
In fact, similar to the difficulty of wages for migrant workers, the LED industry is also facing the problem of high receivables. Judging from the Q3 financial report of LED-related listed companies last year, both accounts receivable and accounts payable have experienced a large-scale increase from the beginning of the year.
Taking the domestic chip leader Sanan Optoelectronics as an example, its bills receivable and accounts receivable increased from 450 million yuan at the beginning of the year to 1.49 billion yuan in Q3, an increase of over 200%. It is reported that Sanan Optoelectronics sales in the first three quarters of last year reached 2.35 billion yuan, an increase of 100%. However, Sanan received only 1.18 billion yuan in cash for selling products and providing labor services. This also means that nearly half of the goods sold by Sanan Optoelectronics in the same period failed to pay back in time, and only remained as accounts receivable and notes receivable. On the company's financial statements.
Sanan Optoelectronics receivables increased by 591.39% compared with the beginning of the year. The company explained that the sales receipts were settled by bill of exchange. Accounts receivable increased by 100.92% compared with the beginning of the year, and the company explained that the sales scale has increased significantly and the sales account period has not changed.
The market
In general, in order to expand the scale of product sales and increase their market share, companies will basically adopt price reduction or credit sales measures to carry out corresponding promotion activities. Through this move, although it can increase the sales volume of enterprises and rapidly increase their market share, it generates a large amount of accounts receivable. Once there are dead accounts and bad debts, it is inevitable that enterprises will suffer economic losses.
Wang Peng, general manager of Baishi Optoelectronics Sales, believes that enterprises must meet two conditions to achieve credit sales: first, the transaction generates profits enough to pay the capital cost, and secondly, the mutual trust is high enough, which is available in the early stage of LED development.
Therefore, in the field of LEDs, there has never been a case of price reduction and credit sales. In 2011, LED display company Ai Biessen launched a new zero down payment model, which sparked heated discussions in the industry. Ai Weisen's chairman Ding Yanhui mentioned at the time that customers have limited understanding of LED products. If the deposit is paid in advance, the confidence of customers is a huge challenge. Therefore, Abbison relies on its own capital advantage to choose a zero down payment marketing model to eliminate customer concerns. Get the goods first, then pay, that is, credit sales.
In addition, the current EMC model prevailing in the LED industry can also be seen as the way in which companies use credit sales to achieve market capture.
The use of energy-saving expenses to pay for the construction investment in the early stage of the enterprise requires the use of large sums of money to pave the way, ranging from a few million yuan to more than ten million yuan. The project deadline is often 5 to 10 years, and the return of funds is slow. If multiple EMC projects are carried out at the same time, the capital of the enterprise will be more than 100 million yuan, which puts higher requirements on the technology, capital and product quality of the EMC model enterprises. During the period, if there is a problem with the company's capital chain, it is easy to be dragged down by the EMC project being implemented.
Wang Peng believes that although the EMC model is mostly led by government projects, the premise is that the quality of the company's products should be good enough, and the risk that the later payments are difficult to recover is not ruled out.
Accounts are difficult to recover
At the end of last year, Shenzhen Daeyejie Optoelectronics was frozen by the shareholder CSST, which caused problems in the company's capital chain. As the company defaulted on the supplier's 70 million yuan in payment, the company's receivables amounted to 100 million yuan. After the event, many suppliers came to the door to commit debts, and the company faced a big test of life and death.
As a LED display company with a large production capacity, in addition to providing more than 200 square meters of LED display at the opening ceremony of the Universiade, the sales in 2011 will reach 300 million yuan.
According to the internal staff of the big eye, the big eye has always lacked orders, but because of the high receivables, it has brought great pressure on the company's capital chain, resulting in the distrust of the investor CSST, freezing the company's funds and causing today. Situation.
In fact, the case of the big eye is only a microcosm of the high receivables of the industry, and the recent high-spirited Lehman Light and supplier quality door incidents are also caused by unnecessary troubles caused by the credit sales method. It is not uncommon for the listed company's financial report to be opened. What is worrying is that this momentum has greatly expanded and spread.
Qinshang Optoelectronics is recognized in the industry as a major EMC project. As its orders are seized, accounts receivable are also rising. According to its Q3 financial report last year, the company's accounts receivable amounted to 334 million yuan during the reporting period, while sales in the first three quarters were 593 million yuan, and the proportion of receivables to revenue was as high as 56%, compared with 34 in the same period of 2011. % has grown substantially.
Similarly, from the Wanrun Technology Q3 announcement, we can not easily see the sharp increase in its accounts receivable. The receivables increased from 85.81 million yuan at the beginning of the year to 130 million yuan at the end of the reporting period, with an increase of 45.32 million yuan. The range is 52.84%. In response to the surge in corporate accounts receivable, the company's explanation is that for some quality customers, the credit period has been appropriately extended.
Bad debts
If the accounts receivable are high, it will occupy a large amount of funds of the enterprise. If it cannot be effectively solved, the development of the enterprise will be dragged down by it.
First, it affects capital turnover and reduces corporate efficiency. If the capital turnover is not working, it will definitely make the production plan of the enterprise and the sales plan cannot be implemented normally, resulting in a decline in the efficiency of the enterprise. The collapse of the big eye is an example of a loan that causes production and sales to be in trouble.
Second, inflating corporate profits and increasing operational risks. Usually, when the company makes relevant financial statements, it will account for the credit sales to the current receivables, resulting in an increase in corporate profits does not mean that the company has realized cash income. If the company has too many accounts receivable, the possibility of bad debts will also increase, leading to an increase in sales revenue and an increase in business risks. Sanan Optoelectronics is the best example.
Again, accelerate cash outflows and affect business cycles. The biggest disadvantage of credit sales is that the company's cash inflow cannot be increased. Enterprises can only use their limited liquidity to advance various taxes and expenses, but will accelerate the company's cash outflow.
Wang Peng mentioned that in the early stage of enterprise development, it is very important to seize market share. The focus should be on sales first, then profit and then cash flow, while in the later stage of development, it must first profit, then cash flow, and then sales.
Bad debt risk is difficult to remove
"The phenomenon of arrears in the industry is worrying. Because the suppliers are not unique, they did not give money before delivery. Now they don’t give money, and they turn to find the next one." Just past the high-tech LED conference Liu Xiao, general manager of Intermec Optoelectronics, is very impressed by the current arrears in the industry. “In addition to the arrears, the collection period is also very long, usually 60 days, actually 180 days or even 200 days. What is more serious is that the receipt of money is not given to cash, it is for the acceptance of the bill of exchange."
How can we effectively avoid the risks and troubles caused by the high receivables? Wang Peng believes that there is no particularly good way to solve the high receivables, and it can only work hard to strengthen the management of corporate accounts. Some insiders have suggested the following:
Improve the examination and approval system, strictly examine and approve each sales and collection business, prevent unnecessary increase of accounts receivable; strengthen the daily dynamic management of accounts receivable, and order relevant personnel to collect and update the dynamic information of collections, and urge Collection; develop a reconciliation system for current transactions. For the receivables that have exceeded the agreed time limit but have not been recovered, an effective collection means shall be adopted.
Establish customer files, carry out credit evaluations; formulate credit lines, strictly control the scale of accounts receivable; establish and improve the credit approval system to ensure credit lines for credit customers. 
[Source: LED Engineering magazine's "LED lighting channel" 1 monthly text / Xiongyu Heng]