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e-Future Information Technology Inc. Message Board

  • mmmparsley mmmparsley Jun 16, 2011 8:45 AM Flag

    The market got it completely wrong...

    > Inventory and work in process increased 37% to RMB21.4 million (US$3.3 million) from RMB15.6 million as at the end of December 2010, largely reflecting a rise in new client projects during the first quarter of 2011 that had not been completed as of March 31, 2011.

    > Advances from clients increased 31% to RMB55.9 million (US$8.5 million) from RMB42.7 million as of December 31, 2010, in line with the increase in inventory and work in process due to a rise in incomplete client projects for which payment had already been made.

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