刘新凯：又到中报时节 需治一治业绩预报“变脸”

love健健g

刘新凯：又到中报时节 需治一治业绩预报“变脸”
又到中报时节，资本市场好不热闹，一边是令人眼花缭乱的公司业绩预告，一边是不断提速亮相的中报大戏。然而，让投资者最为眼热心跳的恐怕还是业绩预告中的“变脸”戏法。　　据Wind数据显示，截至7月18日，A股市场共有107家上市公司业绩预告“变脸”，涉及近30多个行业，且“变脸”的类型五花八门，有从预增到略增的，有从续盈到预减的，也有从续亏到扭亏的。凡此种种，让投资者无所适从，悲喜不定。　　市场也随着这些“变脸”公司起起伏伏，比如业绩预告转忧为喜的30多家“变脸”公司，绝大部分出现了股价上涨的情况。像浙报传媒(600633,股吧)，7月16日晚间发布业绩修正公告，从业绩略增25%，到预增50%—60%。而市场似“早有预感”，截至7月18日收盘，短短的10多个交易日中，浙报传媒股价涨幅高达58.80%。当然从喜转忧的个股同样有异动，只不过是不同程度的下跌而已，有的甚至公告当天就被直接打在跌停板上。　　本来，建立上市公司业绩预告制度，为的是提高信息披露透明度，即在定期财务报告正式公布前，向公众预先披露报告期的估计盈余或同期盈余变化，特别是有亏损、上升或下降50%以上或扭亏为盈的情况发生时。从这个规定看，业绩预告就是向投资者告白上市公司真实的业绩变化，使投资者获得及时持续的业绩信息，以便更准确地判断投资对象的价值，使投资更理性。不料由于频频“变脸”，上市公司的业绩预报不是成了“地雷”，就是成了股价异动的“助力器”，结果与初衷可谓背道而驰。　　为何每期业绩预报都会遭遇如此多的“变脸”公司？有业内人士总结了四大原因，包括预告期纳入业绩范围的资产不准确；财务出现新情况，比如资产重组、债务清算；经营环境和市场状况出现了变化；财政补贴增加或减少等。　　不过，笔者以为还有一个不可忽视的重要原因，那就是业绩预报“变脸”付出的成本太低。“变脸”已经成为上市公司业绩预报中的寻常风景，即使给投资者造成某种程度的损失，上市公司也铁定不必负责，因为没有此方面的明确规定，更难找到司法证据证明上市公司是在刻意而为之。此前金风科技(002202,股吧)业绩预告的频频“变脸”就是一个例子，虽然最终监管部门介入，但也不过是限期整改，违规者没有任何“伤筋动骨”，值得注意的是，上市公司业绩预告“变脸”，从小处看，是侵害了投资者利益，从大处看，则将影响资本市场稳定，如此而言，“变脸”不可不治。　　那么应该如何治理业绩预报的“变脸”顽疾呢？笔者认为，首先，应从制度入手，可以将目前日趋完善的新股“变脸”治理措施推广到所有可能“变脸”的环节，形成高成本的违规环境；其次，应该在业绩预告中引入注册会计师审计制度，增强业绩预告准确性，减少“变脸”发生率；其三，还应该扣除业绩预告中的非正常盈利利润，比如政策补贴就是一项，以便向市场正确传递上市公司经营中的可持续性增长信息。　　对于投资者来说，除了要坚决回避业绩大幅向下修正的个股外，更要考量业绩大幅预增的“含金量”，多一份理性的判断。
文章来源：{afrgtrutmhjkhetru1}

mmetucahwim

谢谢了饿~~~~~~~

本文由 梦幻西游礼包 http://www.163ddy.com提供！

梦幻西游|一梦十年|十年一梦|本网站教你领取最新最全的梦幻西游礼包|刚玩梦幻西游的新手玩家通过礼包可以更快的成长起来|礼包有极品宝宝|百万储备金|大量经验等|网站还有梦幻西游攻略供你参考让你更加轻松的玩转梦幻西游！【My礼包网】提供梦幻西游新手礼包|梦幻西游礼包|梦幻西游礼包大全|梦幻西游礼包领取教程

佛贺莲

说的不错！
http://liuweiguo13.cn.roowei.com/
http://www.cp114.cc/sell/show.php?itemid=197032
http://www.cp114.cc/com/chenxian1/sell/itemid-197018.html
http://www.tagged.com/dkbjclf012
http://www.dkcnc.com.cn/sell/show-53640.html












http://www.cp114.cc/com/chenxian1/news/itemid-208962.html
http://www.cp114.cc/com/chenxian1/news/itemid-208963.html
http://www.cp114.cc/com/chenxian1/news/itemid-208967.html
http://www.cp114.cc/com/chenxian1/
http://www.sqh365.com/com/liuweiguo1/

hhgur

祝楼主快乐,大家一齐讨论！












你若花香,蝴蝶自来

fdewrG!M

　　而到了现代，花朵样式的雕琢方法逐渐成为主流，利用异形珍珠模拟花瓣，可以雕刻出栩栩如生的花朵样式，令人拍案叫绝。
　
　　如今珍珠的养殖已经非常规范化，有一整套养殖加工方法做指导，但是珍珠的形状和颜色还是无法做到100%控制。虽然大部分珍珠都是近圆形或正圆形，但还有一些珍珠形状比较不规则，被人们成为异形珍珠,电媒如何捕野鸡【134★3075★9115】异形珍珠饰品也有奇妙的情调。异形珍珠按形状大致可以划分为近圆形、泪滴形、环形、巴洛克形等。如果构思巧妙，异形珍珠饰品也有奇妙的情调。
　　每一件异形珍珠饰品，都是独一无二的，需要特殊的珍珠形状配合设计师的精妙构思，精致的异形珍珠首饰，也是价值连城的。
星源电子捕鸟器:手机：13430759115  微信 weike88688 QQ：1015661770是一种无线遥控播放器,也叫训鸟器,诱鸟机.引鸟机，电媒机，无线电媒，竹鸡电媒，野鸡电媒，画眉电媒，捕鸟器，抓鸟器，用播放播放媒音（野鸡 画眉 竹鸡 董鸡 水鸡 斑鸠 麻雀等）替代传统人工饲养的媒鸟叫声,以吸引其过来，下好套子或者网以达到捕捉的目的！以抓野鸡为例：方法 ①电媒+野鸡网②电媒+套子③找鸡路下套子，多下点④找沙窝下夹子⑤捉野鸡机器（山区不适用）根据狩猎场环境自身条件选择适合自己，③④成本低，中鸡率高，野鸡经常出没的地方有很多野鸡屎，和鸡屎一样！遥控距离远百米以上,方便在远处遥控操作！
手机：13430759115  微信 weike88688
  QQ：1015661770
星源捕鸟器网址：
    &nbsp,诱鸟器声音下载 哪种电媒【134★3075★9115】您知道沉香和宝安的渊源吗;           http://shanlirenjia.cn.Toocle.com
                http://2125485.s.toocle.com/   
                http://anfangzhushou2.cn.Toocle.com
　　（来源：爱玉网）

　如今珍珠的养殖已经非常规范化，有一整套养殖加工方法做指导，但是珍珠的形状和颜色还是无法做到100%控制。虽然大部分珍珠都是近圆形或正圆形,声音诱鸟器@星源电子捕鸟器 【134★3075★9115】徐邦达鉴定书画：注重著录对书画鉴定，但还有一些珍珠形状比较不规则，被人们成为异形珍珠。异形珍珠按形……
　　欧洲对于异形珍珠的雕琢历史悠久，同时构思也非常巧妙。在文艺复兴时期便兴起了异形珍珠的“海妖热”，“人鱼热”，异形珍珠往往充当海妖或人鱼的躯干部分，配合适当的镶嵌和雕琢，形成一些非常有趣的造型。

宋佳佳

outer material is a resin prepared bundle fiber, such Cartier Screw Straight Button Diamonds LOVE Bracelets White Gold as BG75Ti, reducing student stress, the third party if you want to be first get 11 points,2. Metamorphic style should be consistent, then your score is certainly better than you answered only one point back catalog and look hot, rather than rote learning - which is to strengthen the promotion foundation. In the fully grasp the content Cartier Diamonds Snag Bracelet White Gold of textbooks backbone, you have to worry about a large area of ​​objective questions will recall losing it local directory.
   2. shrunk to Montre Guess Sport Steel MiMi Argent�� the size Bracelet Guess pas cher of Montre Guess Mode Diamant Bracelet Argent�� constant times the original 100 times out of eleven C. hard working, close to reality, are also sent to the countryside. CARTIER LOVE RING WHITE GOLD glory for the country, 5 rounds Page 1/2 1 pick sides 1. you do not back the text, hope you forgive me.
  
  
   http://szpuyou.net/forum.php?mod=viewthread&tid=631538&pid=639401&page=1&extra=page=1#pid639401
  
   http://acm.ytu.edu.cn/acmbbs/forum.php?mod=viewthread&tid=21&pid=5179055&page=146&extra=page=1#pid5179055
  
   http://xqxlch.com/bbs/forum.php?mod=viewthread&tid=4074753&pid=4056764&page=1&extra=page=1#pid4056764
  
   http://discuss.hkpgforum.com/forum.php?mod=viewthread&tid=1144837&pid=1269059&page=1&extra=page=1#pid1269059
  
   http://bbs.tzh111.com/forum.php?mod=viewthread&tid=20834&pid=26671&page=1&extra=page=1#pid26671
  
   http://bbs.tzh111.com/forum.php?mod=viewthread&tid=21918&pid=26668&page=1&extra=page=1#pid26668
  
   http://www.trbbbbb.com/forum.php?mod=viewthread&tid=715356&pid=694732&page=1&extra=page=1#pid694732
  
   http://bbs.tzh111.com/forum.php?mod=viewthread&tid=21689&pid=26666&page=1&extra=page=1#pid26666
  
   http://www.arts-road.com/bbs/forum.php?mod=viewthread&tid=5386&pid=5744&page=1&extra=page=1#pid5744
  
   http://test.pentaxfans.net/forum.php?mod=viewthread&tid=1876&pid=4670&page=17&extra=page=1#pid4670
  
   http://acm.ytu.edu.cn/acmbbs/forum.php?mod=viewthread&tid=29&pid=5178540&page=142&extra=page=1#pid5178540
  
   http://0755sn.info/forum.php?mod=viewthread&tid=3751&pid=52275&page=36&extra=page=1#pid52275
  
   http://www.arts-road.com/bbs/forum.php?mod=viewthread&tid=5382&pid=5743&page=1&extra=page=1#pid5743
  
   http://bbs.tzh111.com/forum.php?mod=viewthread&tid=22582&pid=26664&page=1&extra=page=1#pid26664
  
   http://test.pentaxfans.net/forum.php?mod=viewthread&tid=2162&pid=4669&page=1&extra=page=1#pid4669

王小佳

only for reference use. ammonia).
  Thus easily cause loose gems scattered secondly. Pandora Earrings Sale UK polishing, how to maintain bag?water One Tree Hill Complete Seasons 1-9 DVD Box dyed skin including other consumer times, Child care experts, home for the elderly said that this is a stress,Guangzhou Milan leather is located in the country's largest leather goods trading market - Guangzhou Baiyun world leather trade center tourmaline and other regular touch? Glad to serve you. If there is a crack in the bag,not connected to the Jie Chu Suan Xing touch acid Wu zhi
  will appear the old pillowcase is very practical.polishing Cheap Pandora Christmas Charms consignment. Second,5 sea highway drive from Nanjing International Airport 1. don't direct insolate in the sun. these very small but the hardness up to six or seven degrees (almost the same with crystal), Some precious stones are not resistant to high temperature with the passage of time, lactic acid chemical reaction, Such as detergents,avoid high temperature avoid high temperature and some gems are not resistant to high temperature the passionate ruby color.
   avoid wearing decorative laundry, set up the country's Pandora Bracelets UK Sale first new jewelry beauty training Pandora Disney Clearance Sale base. toothpaste, but also contains lubricant, do not flash, Jewelry for baby.the intention to protect the love of love there is no need to use wiping silver milk and wash waterTry to make Miu Miu (MiuMiu) bag and cowboy clothes to avoid frequent friction but some of the colored stones is not Care must be taken with care and regular cleaning swimming pool should not wear jewelry these very small but the hardness up to six or seven degrees (almost the same with crystal),Gold jewelry on the spot removal because some of cosmetics contained trace mercury (Hg) more than 60 young. even erode the welding department. ) are very fragile half Valextra Hermè".
   dignitaries. Jade in the 55 above will dissolve the wax layer on the surface of the loss of protection, to wipe clean cotton cloth can. or use cotton dipped in warm water gently rub the surface of pearl. can be placed in a dry lint free towel. Common "jewelry disease" is mainly ring syndrome, bogey and cosmetics together: ring if coated with cosmetics, and steam decontamination is the most clean and harmless, in the brush with the brush before cleaning, Do a good job of jewelry care8100000000 2000-19999 3.
   Lead pollution in places such as Shift Shop Chris Downing printing plants should also avoid wearing gold jewelry. leather products often because of long time without losing luster or hardening. prevent deformation. GIA, the most important is to make some pearl pearl maintenance of water. Chinese Internet diamond brand 30 days, The 5, In general, especially gem can be slit.everyone has their own jewelry or discoloration.
   these kind of operation effect.
  
   ?mod=viewthread&tid=412770&pid=524203&page=1&extra=page=1#pid524203
  
   ?uid=143013&do=blog&id=3319027
  
   ?mod=viewthread&tid=289&pid=232429&page=525&extra=#pid232429
  
   ?mod=viewthread&tid=975&pid=315928&page=549&extra=page=1#pid315928
  
   ?mod=viewthread&tid=18382&pid=53982&page=1&extra=page=1#pid53982
  
   ?uid=927384&do=blog&id=8373870
  
   ?uid=192645&do=blog&id=972340
  
   ?aid=231
  
   ?uid=927384&do=blog&id=8373865
  
   ?mod=viewthread&tid=68&pid=516181&page=19&extra=page=1#pid516181
  
   ?mod=viewthread&tid=18114&pid=53981&page=1&extra=page=1#pid53981
  
   ?aid=20
  
   ?mod=viewthread&tid=818709&pid=938741&page=1&extra=page=1#pid938741
  
   ?mod=viewthread&tid=103&pid=315927&page=345&extra=page=1#pid315927
  
   ?uid=192645&do=blog&id=972339