Tick money increases to make not only decrease a value to prepare to increase first half of the year, also increased the administrative pressure of receivable money at the same time. The newspaper in Baiyao shows, number of day of have enough to meet need of money of receivable first half of the year 2008 Zhang and on year the corresponding period lengthened 4.24 days, suffer national money market to tighten epitome to ring at the same time, baiyao payment for goods reclaims will increase difficulty.

Subsidiary is integrated whether to continue " corrode capital "

The newspaper in Baiyao shows, accuse in its in 14 main subsidiary, dali, Li Jiang, Wen Shan 3 companies total loss 3.31 million yuan, and Baiyao is other in joining holding company, besides province medicine company, the management situation of other company is very general also.

Regard domestic Baiyao as the first brand, baiyao product is the main profit drop of the company, and the manufacturing sale performance of other product is very average. The Dali of outstanding achievement deficit, Li Jiang, Wen Shan 3 companies present advocate battalion product is not Baiyao, nevertheless these 3 companies before 1996 also produce Baiyao. Established Baiyao group 1996, later the Baiyao production of these 3 companies merges into Baiyao parent company, after this obtains fund of certain Baiyao quota every year from Baiyao parent company, be in about 800-1000 is controlled 10 thousand yuan.

2008 first half of the year, although these 3 companies advocate battalion product deficit, if calculate,go up nevertheless Baiyao quota money, so they are gain. Controlled 2000, these 3 companies still are to control share company partly, in recent years, baiyao parent company begins to buy the odd equity of 3 companies gradually, at present besides article hill company, two companies had realized the others wholy-owned accuse.

Yin Pinyao expresses, baiyao will be next farther wholy-owned control a Wen Shan company, in a planned way undertakes business conformity to these 3 companies, change current management condition.

From the point of public data, baiyao besides advocate besides already battalion, there also is sortie in the domain such as electronic business affairs, landed, negotiable securities, besides relatively pretty good to the yield of red tower negotiable securities besides, the earnings performance of other investment is average. And to red tower negotiable securities hold have 1.44% only, gains is limited.

Afore-mentioned certificate business analyse a personage to think, baiyao is in advocate on already battalion all the time very " concentrated " , baiyao kind the product is drop of its core profit. Baiyao parent company is done rarely to the subsidiary of its deficit, basically be to maintain manage just, future is to use augment Baiyao produce can farther still conformity to manage its oneself product to not be clear about at present.

Benefit of the investment outside the course of study of Baiyao is average, the product development that is core with Baiyao nevertheless is business emphasis all the time, be like sortie domain of medical makeup product. Its are the closest add hair also showed prospective business way, namely Baiyao, commerce, medicine makeup. And Baiyao accuses the earliest a lot of outstanding achievement flatly how does the company undertake outstanding achievement of integrated, implementation turns round what also will become at present to must be solved.
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