Letter of concern about 0023}
Attention letter of the company Department [2022] No. 86 Souyute Group Co.Ltd(002503) the board of directors:
Your company disclosed the performance forecast for 2021 (hereinafter referred to as the performance forecast) on the evening of January 28, 2022, which said that your company expects to realize a net profit attributable to the shareholders of the listed company in 2021 ranging from 3400 million yuan to 3950 million yuan, and a net profit after deducting non recurring profits and losses ranging from 3330 million yuan to 3880 million yuan; It is estimated that the net assets at the end of the period will be - 17 million yuan to 0 yuan. The reasons for performance changes are as follows: first, due to the impact of liquidity, the company has risk issues such as overdue debts, freezing and sealing up of bank accounts and some assets, and the business income fell sharply during the reporting period; Second, the inventory has been greatly reduced and promoted, resulting in a negative gross profit margin; Third, downstream customers have difficulties in capital turnover and collection of accounts receivable, and the provision of credit impairment losses has increased; Fourth, the provision for impairment losses of other assets increased; Fifth, the increase of financial expenses and non operating expenses such as default interest and liquidated damages caused by overdue loans; Sixth, due to the decline of income and continuous losses, it is likely that sufficient taxable income will not be obtained in the future to offset the benefits of deferred income tax assets, and the book value of deferred income tax assets will be written down.
The performance forecast shows that if the audited ending net assets of your company in 2021 are negative, the company's stock trading will be warned of delisting risk after the disclosure of the 2021 annual report. According to the announcement on the provision for impairment of assets and write off of assets in the half year of 2021 disclosed by your company on August 30, 2021, your company has made a total of 1256238200 yuan of impairment provision for assets with signs of impairment in the first half of the year, including 37.1563 million yuan of bad debt provision for accounts receivable, 13.8971 million yuan of bad debt provision for other accounts receivable The inventory falling price reserve is 1205184800 yuan, a total decrease of 945652900 yuan of net profit attributable to the parent company in the half year of 2021. According to the announcement on withdrawing the provision for impairment of assets in the third quarter of 2021 disclosed by your company on October 30, 2021, your company has withdrawn the provision for impairment of assets with signs of impairment in the third quarter of 655.6924 million yuan, including 304.8185 million yuan for bad debts of accounts receivable, 51.4604 million yuan for bad debts of other accounts receivable, 176.6417 million yuan for inventory depreciation The provision for impairment of long-term equity investment was 101.892 million yuan and the provision for impairment of fixed assets was 20.8798 million yuan, a total decrease of 535.3274 million yuan of net profit attributable to the parent company in the third quarter of 2021.
Our department is highly concerned about the above matters. Please verify and explain the following matters:
1. For performance forecast, please your company:
(1) Explain the specific reasons leading to the expected large loss in 2021 and the specific circumstances, calculation process and recognition basis of the amount affected by various factors. For the provision of asset impairment, the asset scope, impairment reasons and the expected impairment amount of each asset shall be clearly defined;
(2) For the impairment provision at the end of the half year, the end of the third quarter and the end of the year in 2021, explain the basis and rationality of the provision for asset impairment at each time point, whether the provision for asset impairment complies with the relevant provisions of the accounting standards for business enterprises, and whether there are significant changes in the accounting policies and the basis for recognizing the amount of impairment compared with the same period of the previous year, On this basis, explain whether the provision for asset impairment of your company in previous years is sufficient and whether there is improper earnings management through asset impairment provision;
(3) In combination with the changes in your company's production and operation environment since 2020, please explain whether there is major uncertainty in your company's sustainable operation ability, the countermeasures your company has taken or plans to take (if any), and timely and fully disclose the risk tips.
2. With regard to the provision for bad debts of accounts receivable and other accounts receivable, please your company:
(1) Explain the transaction background, causes and recognition of relevant business income of the receivables involved in the provision for impairment;
(2) In combination with your company's current accounting policies related to accounts receivable and actual collection, explain the proportion and relevant basis of bad debt provision, and the rationality of your company's continuous large amount of bad debt provision since 2020. On this basis, explain whether your company has fictitious business or assets in 2021 and previous years Manipulation of financial position or operating results by means of related party transactions, non related transactions and transactions without commercial substance.
3. With regard to inventory falling price reserves, please your company:
(1) Describe the details of inventory disposal through price reduction and promotion in 2021, including but not limited to the involved inventory category, quantity, amount, difference between promotion price and normal sales price, time of promotion activities, etc., as well as the collection by the end of the year;
(2) Combined with the demand of commodity market, the calculation method of net realizable value of inventory, the calculation method and calculation process of inventory falling price reserves, explain the specific reasons and rationality of your company's continuous large amount of inventory falling price reserves since 2020, and on this basis, explain whether your company is using inventory falling price reserves for improper earnings management.
4. As for the write down of deferred income tax assets, please explain the calculation process of the write down amount, whether there is any sign of write down of deferred income tax assets in 2020, and the reasons and rationality for your company to think that the deferred income tax assets should be written down in 2021 compared with the situation in 2020, On this basis, explain whether your company has improper earnings management by adjusting the amount of asset impairment provision.
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. The annual audit accountant is requested to verify the above problems and give clear opinions, submit the verification opinions and supporting materials to our department for disclosure before February 18, 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, 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 28, 2022
