Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
These guys beat my expectations in getting this issue resolved so quickly.

From the following article http://finance.yahoo.com/news/yongye-international-provides-...

During the first quarter of 2012 the Company collected $140 million of $154 million accounts receivable, net of allowance for doubtful accounts at the end of 2011."

It seems with tight credit conditions the distributors took advantage of Yongye credit terms. Again, from the article...

Recent tightening of local credit markets has increased utilization of the Company's full six month credit term by its distributors, which contributed to the Company's account receivables at the end of 2011. The delay in payments from the distributors was not due to excessive inventories of unsold product held by such distributors, nor was it due to a decrease in demand for Yongye products among distributors and end customers.

jrSocrates
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement