Xin Jiang Ready Health Industry Co.Ltd(600090) (600090. Sh, hereinafter referred to as Xin Jiang Ready Health Industry Co.Ltd(600090) ) stepped on the timeline to disclose the performance forecast of 2021. Since the company has been warned of delisting risk in 2020, Xin Jiang Ready Health Industry Co.Ltd(600090) shall make performance forecast in January 2020 according to the stock listing rules of Shanghai Stock Exchange.
On January 27, Xin Jiang Ready Health Industry Co.Ltd(600090) disclosed that the net profit attributable to the parent company in 2021 was -21217600 yuan to -141.4118 million yuan. It is worth noting that the performance forecast of Xin Jiang Ready Health Industry Co.Ltd(600090) has not been audited by a certified public accountant, and the company has not hired an annual audit accountant as of the announcement date.
Prior to this, Xin Jiang Ready Health Industry Co.Ltd(600090) was punished by the CSRC for suspected violation of the letter phi. Zhang Meihua, the then chairman of the company, was banned from the market for life. Zhang Meihua, who had been involved in official career and business circles, ended up in financial fraud, became a negative footnote in the capital market, Xin Jiang Ready Health Industry Co.Ltd(600090) or was forcibly delisted.
or forced delisting
On January 27, Xin Jiang Ready Health Industry Co.Ltd(600090) disclosed the performance forecast. The forecast shows that the net profit attributable to the parent company in 2021 will be -21217600 yuan to -141.4118 million yuan; The deduction of non net profit is -206364400 yuan to -137.5762 million yuan. It is worth noting that the performance forecast of Xin Jiang Ready Health Industry Co.Ltd(600090) has not been audited by certified public accountants, and the company has not hired an annual audit accountant as of the announcement date.
On January 17, 10 days ago, Xin Jiang Ready Health Industry Co.Ltd(600090) received the supervision letter from Shanghai Stock Exchange. The working letter urges Xin Jiang Ready Health Industry Co.Ltd(600090) to hire an annual audit accountant as soon as possible and disclose the company’s financial statements on schedule.
According to the provisions of the stock listing rules of the Shanghai Stock Exchange, a listed company shall disclose its annual report within four months after the end of each fiscal year, and the financial and accounting report shall be audited by an accounting firm. If the audited annual report is not disclosed within the statutory time limit, the company’s shares may be subject to the risk of delisting. In addition, if the listed company’s shares have been warned of delisting risk due to the financial delisting indicators touched in the 2020 annual financial report, the performance forecast shall be made within one month after the end of 2021.
The reporter contacted Xin Jiang Ready Health Industry Co.Ltd(600090) about the reason why the company did not hire an accounting firm, and no reply was received as of the press time.
Xin Jiang Ready Health Industry Co.Ltd(600090) received the advance notice of administrative punishment and market prohibition from the CSRC on October 24, 2021. The notice disclosed that Xin Jiang Ready Health Industry Co.Ltd(600090) was involved in “four crimes” such as financial fraud from 2016 to 2019.
According to the notice on Xin Jiang Ready Health Industry Co.Ltd(600090) issued by the CSRC, Tongjitang has committed performance fraud almost every year since its backdoor listing in 2016. From 2016 to 2019, the company falsely increased its operating revenue by more than 20 billion yuan by fictitious sales and procurement business, falsely increasing sales and management expenses, and forging bank receipts. In addition, the company was also involved in related party transactions that did not disclose the non operational occupation of funds by the controlling shareholders and their related parties in time, and did not disclose the information Phi violations such as providing guarantees and major litigation for the controlling shareholders and their related parties as required.
The CSRC decided to order Tongjitang to make corrections, give a warning and impose a fine of 3 million yuan; Give a warning to Zhang Meihua and Li Qing and impose a combined fine of 5 million yuan; Wei Junqiao, then chief financial officer, was given a warning and fined 1 million yuan. Take lifelong measures to ban Zhang Meihua and Li Qing from entering the market; The Weijun bridge was banned from entering the market for 10 years. Tongjitang may be subject to major illegal compulsory delisting due to major illegal compulsory delisting.
“accurate” bet
The experience of Xin Jiang Ready Health Industry Co.Ltd(600090) chairman Zhang Meihua is quite “legendary”. In 2001, Zhang Meihua served as the chairman of Tongji hall. Before taking office, Zhang Meihua’s experience was not related to the pharmaceutical industry, but had a smooth career. Citing media reports, Zhang Meihua started politics at the age of 21, became an official at the “right place” at the age of 22, entered the League Central Committee at the age of 31, and became one of the youngest “deputy department level” cadres of the unit at the age of 33. In 2001, he gave up his career and devoted himself to business. According to Tongjitang’s official website, under the leadership of Zhang Meihua, at the end of 2005, Xin Jiang Ready Health Industry Co.Ltd(600090) chain pharmacies reached 3425, ranking second in the country; The chain sales revenue is 1.45 billion yuan, ranking the third in China.
In 2016, Xin Jiang Ready Health Industry Co.Ltd(600090) successfully backdoor Xinjiang hops Co., Ltd. entered the A-share market. Xin Jiang Ready Health Industry Co.Ltd(600090) signed a performance gambling agreement with hops company, requiring that the net profit deducted from non parent company of Xin Jiang Ready Health Industry Co.Ltd(600090) in 2016, 2017 and 2018 should not be less than 460 million yuan, 529 million yuan and 561 million yuan.
And Xin Jiang Ready Health Industry Co.Ltd(600090) also completed the gambling agreement very “accurately”. According to the annual report, from 2016 to 2018, Xin Jiang Ready Health Industry Co.Ltd(600090) realized net profits deducted from non parent company were 470 million yuan, 530 million yuan and 564 million yuan respectively, with completion rates of 103.51%, 100.55% and 100.60% respectively.
These numbers are then “injected”. According to the notice, Xin Jiang Ready Health Industry Co.Ltd(600090) falsely increased the operating revenue by 6.442 billion yuan in 2016, and the corresponding falsely increased the total profit by 680 million yuan, accounting for 90.43% of the total profit disclosed in the current period; In 2017, the operating income was inflated by 7.232 billion yuan and the net profit was inflated by 701 million yuan, accounting for 120.65% of the net profit disclosed in the current period; In 2018, the operating income was inflated by 7.061 billion yuan and the net profit was inflated by 608 million yuan, accounting for 107.61% of the net profit disclosed in the current period.
Just after the “completion” of the bet agreement, Xin Jiang Ready Health Industry Co.Ltd(600090) ‘s paper revenue changed immediately. In 2019, Xin Jiang Ready Health Industry Co.Ltd(600090) net profit attributable to the parent company was 98 million yuan, a year-on-year decrease of 81.43%. In 2020, Xin Jiang Ready Health Industry Co.Ltd(600090) net profit attributable to the parent company was a loss of 2.262 billion yuan. It is worth noting that even the two changed annual reports in 2019 and 2020 were given “audit reports that cannot express opinions” by accounting firms.
An accountant working in the four major accounting firms told the Huaxia times: “audit report without expressing opinions” said in the audit standards for Chinese certified public accountants that the accountant could not obtain sufficient and appropriate audit evidence for relevant matters and could not draw the conclusion that there were no major errors in the financial statements as a whole.
