With regard to the attention letter on Suning.Com Co.Ltd(002024) , the attention letter of the company Department [2022] No. 97 Suning.Com Co.Ltd(002024) the board of directors:
On January 29, your company disclosed the performance forecast for 2021 and the suggestive announcement on the expected provision for impairment and investment losses. It shows that your company expects the net profit attributable to the shareholders of the listed company to be 42.3 billion yuan to 43.3 billion yuan in 2021, and the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses to be 43.9 billion yuan to 44.9 billion yuan, The reasons for the loss include the provision for impairment of relevant assets, the recognition of investment losses, the sharp decline in operating profits, the reversal of deferred income tax, and the impact of non operating profit and loss items such as bond discount repurchase. Our ministry is concerned about this:
1. During the reporting period, your company accrued the expected credit loss on the accounts receivable of Suning convenience supermarket (Nanjing) Co., Ltd. and its subsidiaries. Please specify the transaction background of the accounts receivable between the customer and your company, including but not limited to the time, content, amount, aging, historical payment collection, whether the customer and your company form a related relationship Whether the transaction has fulfilled the corresponding information disclosure obligations and review procedures, and in combination with the operation of the customer during the reporting period, explain the basis and time point of the significant increase of the above credit risk, and explain the basis and rationality of your company’s choice to withdraw the expected credit loss during the reporting period.
2. During the reporting period, your company made an impairment provision of about 1.3 billion yuan for intangible assets such as trademarks and domain names related to Tiantian express logistics and about 1 billion yuan for goodwill of Carrefour China. Please explain the reason and rationality of your company’s choice to make an impairment provision for its goodwill in 2021 in combination with the operation of Tiantian express logistics and Carrefour in recent three years, Whether there is centralized large amount provision for impairment.
3. During the reporting period, your company recognized an investment loss of about 3.5 billion yuan for the net loss share of the associated company Shanghai Xingtu Financial Services Group Co., Ltd. (hereinafter referred to as “financial services company”), and made an impairment provision for long-term equity investment of about 8.2 billion yuan for financial services company according to the equity method. In combination with the operation of the financial services company during the reporting period, explain whether the recognition basis of the above investment profit and loss and the provision for impairment of long-term equity investment comply with the provisions of relevant accounting treatment standards.
4. During the reporting period, due to the sharp decline of your company’s sales revenue and substantial loss of operating performance, your company made an impairment provision of about 2.65 billion yuan for the stores to which some long-term assets belong as the asset group. Explain the basis and rationality of the above amount of impairment provision of your company in combination with the operating profit and loss of your company’s stores during the reporting period, including the number of profit, loss and breakeven stores.
5. During the reporting period, for the deductible losses that can be carried forward to subsequent years, your company recognizes the deferred income tax assets to the extent that it is likely to obtain the taxable income used to offset the deductible losses in the future. In combination with the changes of the external environment and the company’s own operation, the business strategy of some subsidiaries has been adjusted, As a result, the taxable income that is likely to be obtained to offset the deductible losses in the future will decrease, and the deferred income tax assets will be reversed accordingly, which is expected to reduce your company’s net profit by 8.5 billion yuan to 9 billion yuan. Explain the rationality and compliance of the specific accounting process of your company’s reversal of deferred income tax assets in combination with the adjustment of business strategies and specific reasons of your company’s subsidiaries during the reporting period.
6. Without considering the impact of impairment provision, investment loss, deferred income tax reversal and other factors, your company is expected to realize net profit in the fourth quarter, expected loss of 1.2 billion yuan to 1.7 billion yuan, and expected net profit loss of 8.768 billion yuan to 9.268 billion yuan in 2021. In combination with the operation of your company in the same industry, explain the reasons for the sharp decline in sales revenue and substantial loss in operating performance of your company in the reporting period by quarter, and analyze and explain whether your company has the ability of sustainable operation in combination with the measures that your company has taken and plans to take.
7. During the reporting period, the impact of your company’s non operating profit and loss items was about 1.6 billion yuan, mainly including the impact of Zhuhai Puyi logistics industry investment partnership (limited partnership) on the acquisition of logistics assets company and the second bond discount repurchase of 18 Suning bonds. Supplement the specific situation of the impact of the above items on your company’s net profit, and whether your company has any situation of untimely information disclosure according to the stock listing rules and other relevant provisions.
Please make a written statement on the above issues, submit the relevant explanatory materials to our department for disclosure before February 11, 2022, and send a copy to the dispatched office at the same time. At the same time, remind your company and all directors, supervisors and senior managers to strictly abide by the securities law, the company law and other laws and regulations, as well as the stock listing rules of the exchange, and perform the obligation of information disclosure truthfully, accurately, completely, timely and fairly.
We are writing to inform you that
Shenzhen Stock Exchange listed company management department 1 January 29, 2022
