Chapter 467 [Quick Approval of Tax Amount Technical Concealment Plan]
Chapter 467 [Quick approval of technical tax hiding plan]
The annual report revealed that Weibo's performance was better than market expectations, which can be considered a performance that slightly exceeded expectations.
The excess of expectations is mainly reflected in the number of user registrations, which is also the data that the market values most. The market expected that the number of users as of February this year should be 330 million. Unexpectedly, there were 20 million more users than expected.
As for the company's performance losses, who cares about this?
Only novice investors who have just entered the market will read this and struggle with this. According to the latest annual report data, Weibo’s static price-to-earnings ratio has reached 182 times. Many investors find it difficult to believe that this company lost nearly 600 million last year, but its stock price
It has skyrocketed more than ten times, and its market value has reached more than 110 billion.
What everyone is speculating on now is a dream. This price-earnings ratio of more than 180 times should be most appropriately called the "price-to-dream ratio." If Weibo makes money at this time, the stock price will not be able to sustain it. What the capital market looks at is its growth.
The imagination space of mobile Internet.
After all, the country has a population of more than 1.3 billion, and the growth rate of Internet users is still exploding, which has also brought about an increase in the mobile Internet market.
Different from Fang Hong's previous life, Weibo now has the support of WeChat next door, which further opens up the space for expectations.
There is no doubt that what Weibo is currently speculating on is the valuation part, which is now rising sharply and is far ahead of its value growth part.
Therefore, the capital market does not care at all how much money Weibo earns from its performance. What matters is the speed of user growth and how the incremental scale performs. If the stock price exceeds expectations, the stock price will perform beyond expectations.
…
The following day is Thursday.
A-shares opened, and Weibo's intraday call auction opened at a price of 215.30 yuan, +2.06% higher. After the opening, its stock price rushed to a price of 216.72 yuan, an increase of +2.73%, which is one step away from the previous high of 218.11.
However, 216.72 yuan is today’s highest price, and today’s stock price started to fall after it hit this position.
Short-term funds betting on the annual report began to make profits after the high opening today, but the trading volume was not low at all. There was a phenomenon of heavy volume and stagnation. In the afternoon, Weibo's stock price turned green.
After the close, the stock fell -1.37% to close at 208.07 yuan. The trading volume reached 11 billion, which was 300 million more than yesterday.
Volume and price are inconsistent, and some technical analysts are beginning to be bearish.
…
When the market opened on Friday, Weibo opened directly higher by +0.91%. After trading back for five minutes at the opening, it immediately turned back.
Around 10:27, major market software pushed messages:
[Weibo rose more than +5%, the stock price hit a record high, and the current transaction volume exceeds 4.7 billion yuan]
When investors saw this push message, they couldn't help but switch to Weibo's time-sharing panel to take a look. The stock price has risen to 221.79 yuan, and the increase has expanded to 6.59%.
The price of 218.11 yuan was exceeded in November last year, which also pushed Weibo's market value to a new historical high of 117.3 billion yuan.
Since the stock's recent upward trend, the stock's cumulative increase has reached +60.05%, and this year's cumulative increase has reached +52.17%. After a flash crash at the price of 218 yuan, it fell to the limit continuously and has achieved a cumulative increase of +109.09% since the price of 106.07 yuan.
times.
After the price fell by the limit in November last year, everyone thought that the price of 218.11 yuan was the top of the Weibo universe. Unexpectedly, it doubled to a record high in just over three months.
As of the close of trading, Weibo surged +5.77% today to close at 220.08 yuan. The trading volume for the whole day was 8.65 billion yuan, marking a shrinking and reversing trend.
Today's selling pressure is not big, because yesterday there was heavy volume and stagflation, but there was no big drop, and it withstood the biggest selling pressure, so today's rising resistance is much smaller, and it has already reached a new high.
…
In the afternoon, stay in the villa quietly.
"Your proposed corporate financial dual strategy has been replied to by the superiors." Tian Jiayi came back and looked for Fang Hong. He was still in the trading room at this moment. Evelei and the others had finished their trading tasks for the day and went to play or do other things.
Other work.
Upon hearing this, Fang Hong glanced at the beautiful assistant and said in surprise: "So fast?"
Tian Jiayi sat down, nodded and said, "I approved it without changing a word."
Fang Hong immediately smiled and said: "It's unexpected, but it's also reasonable."
His proposal can provide a large amount of additional taxes for the national tax. The specific plan is 30-70. Most of the taxes paid by Qunxing Capital are concentrated in the fourth quarter, to be precise, they are generated in December.
.
In 2010, the actual full amount of taxes and fees paid by Qunxing Capital was 139.5 billion yuan. According to the 30-70 split plan, 70% of the tax amount, or 97.65 billion yuan, will not be disclosed, and all will be paid directly to the national tax.
The remaining 30% of the tax amount of 41.85 billion yuan is the publicly disclosed data. What outsiders have seen is that the tax amount paid by Qunxing Capital in 2010 was 41.85 billion yuan. As for the other 97.65 billion yuan that is not public, of course they do not know.
Even the number 41.85 billion is quite astonishing.
Based on this number, Xincheng is still the absolute largest taxpayer, and it is leading the second place. The total tax paid by the top 100 local enterprises in Xincheng is not even lower than this figure.
As for the tax amount of 41.85 billion, the national tax and local tax are split 60-40, that is, the national tax takes 60% of it, or 25.11 billion yuan, and the amount attributed to Xincheng local tax is the remaining 16.74 billion yuan.
In other words, of the RMB 139.5 billion in taxes actually paid by Qunxing Capital, the national tax took away RMB 122.76 billion, and the remaining RMB 16.74 billion went to the Xincheng local tax.
If there is no technical hiding of the seven-tier tax amount, Xincheng's local tax amount is 55.8 billion yuan. Now taking 16.74 billion yuan is equivalent to a shortage of 39.06 billion yuan. The missing part will naturally be reflected in the national tax.
It can be seen that it is not unreasonable for the approval to be so fast and efficient.
For Xincheng, the loss of more than 39 billion yuan in tax revenue is definitely a big loss, and the loss is a bit big.
However, the amount of taxes paid by Qunxing Capital is indeed too large. With 70% of the tax amount not disclosed, a single company contributed 16.74 billion in tax revenue to Xincheng, which accounted for a quarter of Xincheng's fiscal revenue.
Even calculated based on this number, the rise of Qunxing Capital has caused Xincheng's financial revenue growth to skyrocket by +27% year-on-year, which is already second only to those first-tier cities.
It can be seen that Xincheng's finances are not tight and the money bag is very rich.
If there is no technical concealment and it is revealed directly, then the tax amount of Xincheng Capital alone is equal to the total amount of other fiscal revenue and billions more. The year-on-year growth will directly double. The absolute fiscal
Revenue exceeded 100 billion, directly catching up with Pengcheng.
Finally, Fang Hong thought about it and said: "Since it is approved, the annual report will be published again."
Tian Jiayi nodded.
After re-listing, it is absolutely impossible for the outside world to calculate the true total asset size of Qunxing Capital from the public data. It is not a listed company, and many important data do not need to be disclosed to the outside world.
As for third-party institutions to penetrate the underlying assets of Qunxing Capital?
The layer cake inside can never be penetrated. The space for maneuver is too large. For such a huge enterprise, the complexity of its asset structure, intentional hiding, and the fact that it has obtained a license from above, it is difficult for anyone to use it.
.
In the end, there is a high probability that Qunxing Capital's current net assets will be calculated to be in the one trillion range, but in fact it is 1.81 trillion.
