Ocean King Financial "Makeup" exposes the horse's foot "Lei Feng" supplier "enemy to eat"

The "Lei Feng" supplier's low-cost supply suspect has not yet been solved. The Ocean King, who is engaged in the production and sales of special environmental lighting equipment, has repeatedly exposed more financial doubts. The reporter noted that in addition to the low purchase price of parts and components, the financial indicators such as the sharp decline in the inventory of Ocean King and the sharp increase in accounts receivable were also abnormal. The company's financial data may be falsely disclosed.

"Lei Feng" supplier "enemy to eat"

After the report of "The Ocean King's Abnormal High Gross Margin Exposure and Uncovering Unspoken Rules" was issued, the company's largest supplier, Jin Hongxin Electromechanical, "low-cost supply" was questioned by the market.

After investigation, the reporter found that Jinhongxin Electromechanical Co., Ltd. was established in 2001. It mainly sells lighting products, and the sales of lighting parts is only a “side job”. Jinhongxin Electromechanical Co., Ltd. claims to operate and represent internationally renowned brands in the official website. It is the largest agent in the South China region, mainly involving Panasonic intelligent environment systems, lamps, electricians; Osram lamps, Philips lamps, and Siemens electricians. On July 13 this year, the company changed its business scope and increased the design and construction of indoor and outdoor decoration projects and the installation of lamps.

For Ocean King, international brands such as Philips and Osram are their “hard rivals”. Interestingly, Jin Hongxin Electromechanical is acting as a proxy for Ocean King's competitors, and at the same time, it is also the role of the marine king "Lei Feng supplier."

In 2011, Ocean King purchased 479,600 light sources from Jinhongxin Electromechanical Department, and the purchase price of the conversion unit was 59.37 yuan. Compared with the average purchase price of the company's 2011 light source of 136.26 yuan / piece, the supply price of the first largest supplier is significantly lower.

"Our company mainly deals with the lamps of major brands, but also sells some light source parts such as light sources, but the proportion is very small." The reporter consulted Jinhongxin Electromechanical Sales Department as a manufacturer and introduced a sales manager.

It is not difficult to see that the business development of “Live Lei Feng” Jinhongxin Electromechanical is not in the sideline of light source. Why do you still insist on supplying low prices to Ocean King? When the problem involves the Ocean King, the sales manager seems very cautious: "Our light source brands, specifications, varieties, and prices will vary. Like Ocean King's purchases, the price will definitely be cheaper."

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