Once again, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) is being watched by regulators.
On January 29, Shenzhen Stock Exchange issued a letter of concern to the company. According to statistics, since “lithium related” in May 2021, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) has received 6 letters of concern and 1 letter of inquiry.
the latest attention letter of the exchange did not “care” too much about the “old topic” of the company buying lithium, but focused on new problems such as the company’s pre loss in the fourth quarter of 2021.
In view of the problems that the annual revenue after deduction is lower than that in the first three quarters and the loss in the fourth quarter, etc. made in the company’s performance forecast, the regulatory authorities require the company to explain the specific composition and recognition basis of operating revenue and operating revenue after deduction, whether the asset impairment complies with relevant regulations, and the reasons for the sharp decline of net profit in the fourth quarter.
Specifically, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) disclosed the performance forecast of 2021 on January 28. The company expects the annual revenue of 2021 to be 180 million yuan to 230 million yuan, and the revenue after deduction is expected to be 120 million yuan to 150 million yuan. Meanwhile, the company expects a loss of 90 million yuan to 110 million yuan in 2021.
Why did the annual performance suffer a significant loss in advance? The explanation given by the company is the impairment of assets and the increase of annual operating expenses. As for why part of the operating income should be deducted, the company’s explanation is that the deducted part is the income that has nothing to do with the main business and does not have commercial substance.
The reporter noted that the third quarterly report of Anshan Heavy Duty Mining Machinery Co.Ltd(002667) 2021 showed that the company achieved operating revenue of 159 million yuan in the first three quarters. It is not difficult to see that Anshan Heavy Duty Mining Machinery Co.Ltd(002667) it is expected that the operating income after deduction in 2021 will be less than the recognized operating income of 159 million yuan in the first three quarters of 2021. In other words, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) the main business revenue in the fourth quarter may be “negative”.
For the “self pre deduction” of Anshan Heavy Duty Mining Machinery Co.Ltd(002667) revenue, the regulatory authorities require the company’s branches to explain the specific composition of operating income and operating income after deduction, the recognition time point and recognition basis of relevant income, and whether the deduction of operating income has included the income generated by new trade business in 2021 and 2020.
In addition to the reasons for the deduction of revenue, the exchange also requires the company to check whether there are other income that has nothing to do with the main business or does not have commercial substance. “If yes, explain the reasons for the non deduction; if no, check item by item according to the specific deduction items listed in relevant regulations and explain the reasons.”
The continuous expansion of losses in the fourth quarter of 2021 is also the focus of the regulatory authorities. The performance forecast shows that the company expects a loss of 90 million yuan to 110 million yuan in 2021. It should be noted that Anshan Heavy Duty Mining Machinery Co.Ltd(002667) previously disclosed that the net profit in the first three quarters of 2021 was -16.4971 million yuan.
Based on this calculation, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) has a maximum loss of more than 90 million yuan in the fourth quarter of 2021, and the loss in a quarter has reached several times that in the first three quarters.
What makes Anshan Heavy Duty Mining Machinery Co.Ltd(002667) choose to “lie flat” in the fourth quarter? The company said that asset impairment and increased operating expenses caused a sharp decline in the company’s performance.
Taking asset impairment as an example, this part of the amount will reduce the company’s net profit of about 33.6194 million yuan in 2021.
In response to this matter, the Shenzhen stock exchange requires the company to itemize the asset scope, reasons for impairment and estimated amount of impairment, and explain whether the impairment of relevant assets complies with the relevant provisions of the accounting standards for business enterprises.
Meanwhile, the Shenzhen stock exchange requires Anshan Heavy Duty Mining Machinery Co.Ltd(002667) to explain the reasons and rationality of the sharp decline in net profit in the fourth quarter and the mismatch between operating revenue and net profit growth.
Over the past year, the company has repeatedly established subsidiaries or increased the capital of subsidiaries. In addition to asking about the operation of newly established subsidiaries, the Shenzhen stock exchange requires the company to check whether the fund transfer and use behavior generated by the establishment of subsidiaries and capital increase to subsidiaries are in compliance, and whether the company’s interests such as the occupation of funds by related parties are embezzled.
In addition, the exchange also paid attention to the progress of deposit refund after the company failed to buy “lithium mine”.
According to the retrospective announcement, Anshan Heavy Duty Mining Machinery Co.Ltd(002667) disclosed the termination agreement with Qiangqiang investment to purchase assets on January 10. If Qiangqiang investment returns the deposit of 58 million yuan paid by the company within 25 working days from the date of termination of the original agreement, there is no need to pay interest to the company. In this regard, the Shenzhen stock exchange requires the company to explain whether the deposit is recovered when replying to the attention letter before February 11.
