Since the launch of the GEM in less than a year, listed companies have received a large amount of over-raised funds. According to statistics, a total of 103 listed companies received 45.9 billion yuan in super-raised funds, of which 26 have chosen to spend money on mergers and acquisitions. Of the 26 companies that had mergers and acquisitions, the fastest-growing number was Jifeng. This year, Jifeng Farm Machinery has carried out 8 expansions. In January, Jifeng Agricultural Machinery said that it would use 24.05 million yuan to increase capital for Jilin Jinqiao Agricultural Machinery and transfer some shares of the original shareholders of Jinqiao Agricultural Machinery. In March, Jifeng Agricultural Machinery plans to invest 11.1 million yuan to establish Ningxia Jifeng Tongde Agricultural Machinery, and 7.72 million yuan. Invested to set up Gansu Hexi Jifeng Agricultural Machinery, 2.04 million yuan to establish Sichuan Jifeng Sanli, and 2.04 million yuan to set up Sichuan Jifeng Lianke; in April, Jifeng Agricultural Machinery will increase capital for Liaoning Huifeng Agricultural Machinery City with 19.41 million yuan, holding 51% after the completion of capital increase. In the same month, Jilin Jinqiao Agricultural Machinery Co., Ltd. increased its capital by 7.2 million yuan. In July, the Jifeng Agricultural Machinery announced that it would use 25.5 million yuan to establish a Sichuan subsidiary. It is understood that in the first half of the year, Jifeng Agricultural Machinery achieved a total operating income of 1,370,603,200 yuan, an increase of 68.43% over the same period of the previous year, and realized a net profit of 24,210,300 yuan, an increase of 8.63% over the same period of the previous year. The company’s balance of accounts receivable was 65,589,700 yuan, accounting for 34.77% of the current assets, an increase of 536.5176 million yuan over the end of 2009, an increase of up to 449.59%, 27 times the net profit of the current period, ranking first in the GEM. .
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