Securities code: 600748 securities abbreviation: Shanghai Industrial Development Co.Ltd(600748) Announcement No.: pro 2022-03
Bond Code: 155364 bond abbreviation: 19 Shangshi 01
Bond Code: 163480 bond abbreviation: 20 Shangshi 01
Shanghai Industrial Development Co.Ltd(600748)
Announcement on receiving the inquiry letter from Shanghai Stock Exchange
The company guarantees that there are no false records, misleading statements or major omissions in the contents of this announcement, and assumes individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Shanghai Industrial Development Co.Ltd(600748) (hereinafter referred to as ” Shanghai Industrial Development Co.Ltd(600748) ” or “the company”) received the inquiry letter on matters related to the company’s holding subsidiaries (SSE Gong Han [2022] No. 0109) (hereinafter referred to as “the inquiry letter”) from the management department of listed companies of Shanghai Stock Exchange on January 28, 2022. The contents of the inquiry letter are disclosed as follows:
” Shanghai Industrial Development Co.Ltd(600748) : in the early stage, your company disclosed that the unaudited receivables of its holding subsidiary Shanghai Shangshi longchuang Smart Energy Technology Co., Ltd. (hereinafter referred to as” Shangshi longchuang “) totaled 2.615 billion yuan, some of which were financing trade and may have unrecoverable risks. In this regard, our department issued a supervision letter asking your company to check and verify the relevant specific conditions. On January 28, 2022, your company disclosed and replied to the announcement, saying that relevant businesses are being verified, and the specific capital flow and business essence have not been verified. According to article 13.1.1 of the stock listing rules of the exchange, the company is requested to further verify and disclose the following matters.
1、 According to the announcement, the supplier of Shangshi longchuang’s financing trade business is designated by the customer, and the company pays the full payment to the supplier within 15 working days. The company receives the payment only after delivering it to the customer and passing the acceptance. The general payment collection cycle is 6-12 months. Your company is requested to verify and disclose: (1) upstream and downstream enterprises of Shangshi longchuang’s financing trade business, including the names of major suppliers and customers and their associated relationships, business development period, amount incurred and payment collection, current account balance, account age and bad debt provision up to now; (2) After penetration, whether the ownership structure, actual controller of the above-mentioned customers and suppliers have related relationships or other interest arrangements with the company, Shanghai shilongchuang and its major shareholders, directors and supervisors, and whether the relevant funds flow to the company or Shanghai shilongchuang related parties; (3) Whether the relevant business has commercial essence, including but not limited to whether the goods logistics is true, whether there are idle funds and false invoices, and then evaluate whether the early performance and assets are true and accurate. The annual audit accountant is requested to check the above situation and give opinions.
2、 According to the announcement, by the end of 2021, the total receivables of Shangshi longchuang were about 2.615 billion yuan, some of which were related to financing trade business. The company is requested to disclose: (1) in combination with the information obtained through self inspection, the composition of various businesses of the company since 2015 is listed according to the essence of business; (2) The development of financing trade since 2015, including but not limited to the revenue, profit and capital recovery recognized over the years; (3) Combined with the essence of financing trade business and the provisions of accounting standards, the rationality of early accounting treatment is. The annual audit accountant is requested to check the above situation and give opinions.
3、 According to the announcement, some business models of Shangshi longchuang may lead to the risk that receivables cannot be fully recovered. The company is requested to disclose: (1) in combination with the development, payment collection, litigation, etc. of the financing trade business of Shanghai shilongchuang, specify the time point when the relevant assets show signs of impairment, and whether there is any situation that the previous period should be accrued but not accrued; (2) The earliest time when the company learns about relevant risks and the company’s early information disclosure, indicating whether the company’s relevant information disclosure is timely, accurate and complete. The annual audit accountant, independent directors and the board of supervisors are invited to express their opinions on the above issues.
4、 According to the announcement, the company has dispatched directors, supervisors, deputy general manager and chief financial officer to Shangshi longchuang to participate in the daily business activities of Shangshi longchuang. The company is requested to verify and disclose: (1) the specific performance of the above-mentioned directors, supervisors and senior executives in Shanghai shilongchuang, how to participate in the daily business activities of Shanghai shilongchuang, whether they are fully aware of the specific conditions of Shanghai shilongchuang’s capital and financing trade, whether they have participated in the decision-making of financing trade business, and report to the listed company in an appropriate way; (2) The decision-making procedures of Shangshi longchuang on financing trade, and how listed companies and other major shareholders approve and supervise relevant businesses; (3) For the current losses, explain the accountability, recovery and other measures that the company has taken and plans to take, and how to strengthen the management of holding companies such as Shangshi longchuang, so as to ensure that the listed company’s control over its subordinate enterprises is in place. Independent directors and the board of supervisors are invited to express their opinions on this issue.
5、 According to the announcement, the company provided some shareholder loans to shangshilongchuang. According to the announcement, the company provided some shareholder loans of about 454 million yuan to shangshilongchuang. Please assess and disclose the impact of financing trade business risks on the company’s liquidity in combination with the monetary capital and long-term and short-term liabilities of Shanghai shilongchuang, and fully remind the risks. 6、 Please speed up the progress of self-examination, comprehensively evaluate the impact of relevant matters on the company’s production, operation and performance, and fulfill the obligation of disclosure in accordance with laws and regulations; Conduct a comprehensive self-examination on the defects of the company’s internal control and the diligence of all directors, supervisors and senior managers of the company.
Please disclose this letter immediately after receiving the letter, reply to our department in writing as soon as possible, and fulfill the obligation of information disclosure. “
It is hereby announced.
January 29, 2002
