Panorama CTCK 2013-United 1: khễnh this report.

To the puzzle piece on the State of operation of the block Assembly is CTCK the complete picture, series 3 article States below will analyze the activities of 80 of 85 CTCK has published financial statements (there is still nearly 20 companies have published reports) The CTCK are back to the nature after the strong restructuring efforts over the past 2 years. This khễnh report fourth quarter of 2013 most CTCK when published financial statements (FINANCIAL STATEMENT) the fourth quarter of 2013 comes with a explanation. The reason is that under the current rules, business loss or profit in the report period fluctuates from 10% compared with the same period a year ago, when it announced FINANCIAL STATEMENT must accompany the prize. However, the low quality of interpretation, sketchy content, many reports cited the reasons causing volatility results in reverse order. For example, the same explanation about the results of the fourth quarter of 2013, but some CTCK said this was due to better market (ASTC, FPTS, ISC, IVS, SJCS, VDSC,. ), While the weak results CTCK "blame" for the market is not good (ASC, BMSC, HBS, HVS, IRS, KVS, VGS, VSEC. ). In particular, Dragon CTCK (VDSC) said "the market situation to the fourth quarter, 2013 has much improved compared to the same period" or An CTCK (ATSC) said "the STOCK MARKET, the NĐT sale of more of the same". Meanwhile, Asian CTCK (ASC) award process one of the causes leading to the loss in the fourth quarter of 2013, "the STOCK MARKET slump," or CTCK hung Vuong (HVS) said "the general situation of the market does flourishes to lure NĐT back". The quality of some of the FINANCIAL STATEMENT at a low level. No cases of fusion of VITS and MBS, to now have 85 CTCK is member of the Hose. HCM announces fourth quarter FINANCIAL STATEMENT\/2013. As a rule, a full FINANCIAL STATEMENT should include the balance sheet, income statement, cash flow statement and FINANCIAL STATEMENT presentation, yet there is no CTCK announced FINANCIAL STATEMENT presentation. Several companies announced results of the fourth quarter of 2013, but does not have the number estimated for the whole year as ATSC, CTCK (NSI), Southern CTCK (PNS); If you want to know the result for the whole year, the NĐT only self plus figures each quarter. HVS shall compare the results of the fourth quarter of 2013 with the third quarter of 2013, rather than the same period of the previous year and also do not have the number estimated from the beginning of the year, while Berjaya SaigonBank CTCK (SBBS) has the fourth quarter figures\/2013 and estimated the entire year, but it doesn't compare at all. CTCK Tonkin even just announced the results of the fourth quarter of 2013 without compare, there's no estimated. Also in FINANCIAL STATEMENT of CTCK (VSEC) are very hard to read, because the chèm nhèm. Should also be added, some CTCK compared to figures in 2013 to 2012, but in 2012 doesn't update the results audited. The reduced revenue, increased profits in addition to the above mentioned defects, the general picture is pretty bright and shows the CTCK was in on a new, more substantive and expected to accelerate from 2014. The highlight of the year 2013 it is net profit of 34% increase above 80 CTCK and reached a total of more than 2,000 billion. Note that the total revenue last year fell 21. 15%, of which the sales brokers fell 6. 52%, reached 1,313 billion; investment income fell 28. 14%, reaching more than 2,000 billion and other revenue fell more than 29 percent, reaching close to 3,000 billion. Private consulting revenue rose nearly 25 percent, but the absolute numbers are not large, only 714 billion. Strong increase in profitability when revenue plummeted by other income increases, but due to cost reduction that means nothing? A major cost of Group 2 have CTCK, is that the cost of operations and management costs. For costs of doing business, the main components include the hole from selling securities (margin from selling below original price are accounted into the costs of running the business, and when sold on the original price, the investment income in accounting)redundant costs, investments and loan costs, capital business, capital investment trust. Cost of operations in 2013 of 40. 3% decrease CTCK 80 firstly and mostly by multiple fallback entry is completed CTCK. This can mean a lot of CTCK in 2012 expose all the risks to his portfolio, and in 2013, when the market recovers, the company was refunded what was quoted. For example, Kim Long CTCK (KLS) by 2012 to stock discounts backup excerpt 130. 3 billion and 2013 is completed enter the 167. 3 billion. In 2013, not least CTCK continued "strong hands" quote. Business operations costs reduced by the cost of using the above capital reduction. Short term loan balance in 2013 decreased 23. 7%, while long-term loans rising 26 percent. However, this is just the surface. Indeed, some CTCK receive money from banks or other objects in the form of "trust agreements" or "business partnership contract", then bring another bank or lender other objects with very large amount. Interest received, other revenues on accounting, while capital expenditures are included in the cost of doing business. Cost of doing business and other income have strong correlations; other revenue grows, the costs are also great and vice versa. Capital cost reduction coupled with the decline of other receivables and paying another money transfer phenomenon mediated CTCK fell. The CTCK are returned to its essence, instead of in the past, many companies are "Tools" for the purpose of the subject has the right to govern. Corporate management costs are also past year falling more than 20. 5%. This is one of the efforts to restructure and streamlined CTCK apparatus. However, the provision of backup and redundancy pay is also part of the Group corporate management costs. Thus, group costs reduced due to multiple redundant input undone CTCK provision. For example, Sacombank – SBS in 2012 to extract backup provision nearly 220 billion and 2013 were added near 90 billion. So, the profit in 2013 rising substantially due to cost reduction and cost reduction is due to the efforts to restructure as compact apparatus, exposing every weakness, returns to the essence of a new position in CTCK, with better economic prospects in the year 2014, can expect CTCK block will have the acceleration. View more States 2: strong differentiation in Germany.