Letter of concern about Global Top E-Commerce Co.Ltd(002640)
Attention letter of the company Department [2022] No. 93 Global Top E-Commerce Co.Ltd(002640) the board of directors:
On January 29, 2022, your company disclosed the performance forecast for 2021, which shows that your company is expected to realize an operating revenue of 7.8 billion yuan to 9.8 billion yuan in 2021, and an operating revenue of 7.5 billion yuan to 9.5 billion yuan after deduction; It is expected to realize a net profit of 670 million yuan to 980 million yuan, and a net profit of – 1.6 billion yuan to – 2.3 billion yuan after deducting non profits. Our department is concerned about this. Please verify and supplement the following questions:
1. The announcement shows that your company expects the impact of non recurring profits and losses on the net profit during the reporting period to be RMB 2.8-3.1 billion, mainly due to the excess loss in the early stage of bankruptcy of Shenzhen global Tesco e-commerce Co., Ltd. (hereinafter referred to as “Shenzhen global”), which confirmed that the investment income increased the profit by about RMB 2.2 billion. Please list the recognition basis and specific calculation process of the investment income, and whether the relevant accounting treatment complies with the provisions of the accounting standards. Independent directors and annual audit accountants are invited to give verification opinions.
2. The announcement shows that your company sold Shenzhen Qianhai patuoxun Network Technology Co., Ltd. (hereinafter referred to as “patuoxun”) and confirmed an investment income of about 800 million yuan. On August 31, 2021, your company disclosed in the 2021 semi annual report that the sale of patoson’s equity realized an investment income of 757 million yuan; On September 29, 2021, your company said in the announcement on the reply to the inquiry letter of the 2021 semi annual report of Shenzhen stock exchange that as of the reply date, the collection of the transfer payment for the sale of patoson’s equity has not been completed, and the remaining amount to be paid is about 628 million yuan. Your company is requested to supplement the latest progress of payback of patoson’s equity transfer up to now, and the measures your company has taken and plans to take to urge relevant parties to pay back; Combined with the above payment collection, further demonstrate the rationality and compliance of your company’s confirmation of 800 million yuan of investment income from the sale of patoson’s equity during the reporting period. Independent directors and annual audit accountants are invited to give verification opinions.
3. The announcement shows that your company has made a full provision for bad debts of about 1.8 billion yuan for the current accounts of Shenzhen universal and an estimated liability of about 200 million yuan for the amount of guarantee litigation of Shenzhen universal. Please supplement and disclose the basis and details of withdrawing the above bad debt reserves and estimated liabilities, and whether they comply with the provisions of the accounting standards for business enterprises. Independent directors and annual audit accountants are invited to give verification opinions.
4. On January 24, 2022, the general meeting of shareholders of your company deliberated and approved the proposal on the proposed appointment of accounting firm. Your company plans to appoint Hexin accounting firm (special general partnership) (hereinafter referred to as “Hexin firm”) as the financial statement and internal control audit institution of your company in 2021. The former accounting firm of your company is Zhongxi accounting firm (special general partnership) (hereinafter referred to as “Zhongxi accounting firm”), which has issued an audit report with no opinion on your company’s 2020 financial report.
(1) Please verify and disclose the specific reasons for the replacement of Zhongxi firm, and whether the previous and subsequent accountants have done a good job in communication; The audit committee and independent directors of your company are requested to verify whether there are other reasons or matters leading to this change of accounting firm.
(2) Please explain whether Hexin firm has sufficient time to ensure the smooth implementation of annual audit projects and the full implementation of key audit procedures, and whether the relevant audit and review procedures comply with the relevant provisions of the auditing standards for Chinese Certified Public Accountants on ensuring audit quality.
(3) Please explain whether Hexin firm has professional competence, whether your company has relevant arrangements or consensus with Hexin firm on the audit opinion of the company in 2021 in advance, and whether there is any situation of purchasing audit opinion.
Your company is requested to make a written explanation on the above issues, submit relevant explanatory materials to our department and disclose them to the public before February 8, 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
