The popularity of the “digital currency concept” has not dissipated in the capital market, but Guangzhou Kingteller Technology Co.Ltd(002177) as one of the popular concept stocks is facing a delisting crisis.
Recently, Guangzhou Kingteller Technology Co.Ltd(002177) disclosed that the annual performance forecast for 2021 showed that the company realized a net profit loss of 45 million yuan to 65 million yuan, and a loss of 16 million yuan to 24 million yuan after deduction. In the same period of 2020, the company’s net profit attributable to the parent and net profit attributable to the parent after deducting non profits were 71.7569 million yuan and 21.7441 million yuan respectively, and the performance was changed from profit to loss. In addition, according to the announcement on January 29, the company faces delisting risk due to performance losses.
Guangzhou Kingteller Technology Co.Ltd(002177) why are we here? The answer is stocks.
According to the above report, the loss of the company last year was mainly caused by the loss of securities investment. The impact of non recurring profit and loss on net profit is – 29 million yuan to – 41 million yuan.
Guangzhou Kingteller Technology Co.Ltd(002177) also had a high light moment in “stock speculation”. In 2019, Guangzhou Kingteller Technology Co.Ltd(002177) relied on stock speculation to make profits and turn around losses. During the period, the non recurring profits and losses brought by stock speculation reached 93.43 million yuan, which turned around losses and took off the hat at one fell swoop. After that, the company’s securities investment has continued. Behind all this is the shrinking revenue and profit of Guangzhou Kingteller Technology Co.Ltd(002177) main business – ATM business. It is still unknown whether the so-called “digital currency” and “blockchain” businesses are conceptual speculation or the direction of the company’s real transformation.
On January 29, Shenzhen Stock Exchange also sent a letter to Guangzhou Kingteller Technology Co.Ltd(002177) asking the company to explain whether its main business has the ability of sustainable operation and the measures (if any) the company has taken or plans to take to improve its ability of sustainable operation; The reasons and rationality of the company’s large losses in securities investment.
stock speculation “blood loss” exposure position:
in the first half of last year, the China Equity Fund suffered a floating loss of 8 million yuan and the buy American group suffered a loss of 900000 yuan
Public information shows that in 2001, the current actual controller Yang Wenjiang founded Guangzhou Kingteller Technology Co.Ltd(002177) . In November 2007, Guangzhou Kingteller Technology Co.Ltd(002177) was listed on the Shenzhen Stock Exchange.
As an enterprise providing special equipment to financial institutions, Guangzhou Kingteller Technology Co.Ltd(002177) has won a high operating performance with a market share of 17%. In 2011, Guangzhou Kingteller Technology Co.Ltd(002177) net profit attributable to the parent company reached 179 million yuan, the highest value over the years, and also became the “ATM leading stock” in the capital market. However, with the rise of mobile payment in China, the original ATM market scale has been impacted continuously, and the company’s performance began to shrink year by year.
In 2016, Guangzhou Kingteller Technology Co.Ltd(002177) achieved revenue of 771 million yuan in the whole year, down nearly 30% from 1.097 billion yuan in the previous year. Since then, the company’s revenue and net profit have declined continuously. By 2018, the company’s revenue was only 394 million yuan, and the net profit attributable to the parent company suffered a significant loss for the first time since listing, which was -94.8176 million yuan.
Faced with huge losses and delisting crisis caused by losses, Guangzhou Kingteller Technology Co.Ltd(002177) thought of a new performance growth path – stock speculation.
Summary of net profit attributable to parent company since 2004
In the semi annual performance forecast of 2019, Guangzhou Kingteller Technology Co.Ltd(002177) showed the “stock speculation results” for the first time. It is estimated that the net profit attributable to the shareholders of the listed company in the first half of 2019 will be 50-60 million yuan, with a year-on-year increase of 1019.42% – 1243.3%. The announcement said that the main reason for the change in performance was that the company obtained securities investment income.
In the 2019 semi annual report, Guangzhou Kingteller Technology Co.Ltd(002177) also disclosed its position, and bought four stocks of Ping An Insurance (Group) Company Of China Ltd(601318) , Kweichow Moutai Co.Ltd(600519) , Wens Foodstuff Group Co.Ltd(300498) , China stock market news and some convertible bonds during the period. In the meantime, Kweichow Moutai Co.Ltd(600519) and China stock market news increased significantly, contributing considerable revenue to them.
The first battle was won, Guangzhou Kingteller Technology Co.Ltd(002177) followed by continuing to speculate in stocks and changing positions.
In the first half of 2021, Guangzhou Kingteller Technology Co.Ltd(002177) disclosed the latest position data: it bought about 97.48 million yuan of zhonggai Internet Fund (513050), 50 million yuan of e-fund daruijin Fund (009689), 64.96 million yuan of Jiangxi Copper Company Limited(600362) (600362), 33.25 million yuan of meituan (03690), and 30 million yuan of GF high-end manufacturing stock a fund… By the end of the first half of 2021, its cumulative securities investment was about 916 million yuan.
Among these funds or stocks, floating losses occurred during the period: zhonggai Internet Fund (loss of 8.65 million yuan), Jiangxi Copper Company Limited(600362) (loss of 7.69 million yuan), meituan (loss of 899000 yuan), Yiji industry leading fund (loss of 687000 yuan), Yiji Asia Select Fund (loss of 7.014 million yuan) and Hang Seng Internet Fund (loss of 41200 yuan).
According to statistics, in the first half of 2021, Guangzhou Kingteller Technology Co.Ltd(002177) securities investment suffered a total floating loss of 17.588 million yuan, and the amount of non recurring profit and loss during the period was -18.913 million yuan. The loss of securities investment accounted for about 93% of its non recurring profit and loss.
suspected stock price speculation
the chairman of the company cashed out 42.5 million months ago
The banking business represented by ATM machines is shrinking. Has Guangzhou Kingteller Technology Co.Ltd(002177) considered transformation?
In the 2021 semi annual report, Guangzhou Kingteller Technology Co.Ltd(002177) said that the company closely focuses on the R & D investment of new generation information technologies such as big data, artificial intelligence, blockchain and cloud computing, adheres to customer-centered and continuous R & D innovation… Deeply tap the market potential of industrial upgrading, and actively explore expanding and extending the industrial chain and enhancing the value chain.
The reporter of shell finance and economics noted that as of the first half of 2021, the company’s main business, main products and services had not changed. The report shows that the company’s operating revenue is 41.617 million yuan, a decrease of 62.36% over the same period of the previous year. From the perspective of the industry, the revenue of special equipment manufacturing business (products are ATM sales and related businesses) accounts for 100%.
At least before the end of June 2021, the “transformation” claimed by the company has no substantive transformation action. This does not hinder the speculation enthusiasm of the capital market for Guangzhou Kingteller Technology Co.Ltd(002177) share price.
Since around October 20, 2021, Guangzhou Kingteller Technology Co.Ltd(002177) share price has been hyped again because of the east wind of the concept of “digital currency”, ushering in a continuous surge. According to the statistics of shell finance and economics, from October 19, 2021 to January 18, 2022, Guangzhou Kingteller Technology Co.Ltd(002177) share price reached an inter day high of 9.8 yuan, with a cumulative increase of 88.46%.
Recent stock price trend
Meanwhile, Yang Wenjiang, the actual controller of Guangzhou Kingteller Technology Co.Ltd(002177) , took the opportunity to reduce the company’s shares and announced that Yang Wenjiang reduced 7390775 shares of the company (including 6670928 shares reduced through the credit account) through centralized bidding trading, with an average reduction price of 6.37 yuan / share. The total reduced shares accounted for 0.97% of the company’s total share capital, and the amount of cash set was about 42.494 million yuan (including tax).
The sharp rise was followed by a sharp fall soon.
According to the statistics of Shenzhen Stock Exchange, from January 21 to January 28, 2022, Guangzhou Kingteller Technology Co.Ltd(002177) shares fell by 27.34% and fell to the limit on January 25. In this regard, the letter of concern of Shenzhen stock exchange requires the company to check whether the shareholders, directors, supervisors, senior managers and their immediate family members holding more than 5% of the shares have bought and sold the company’s shares in the past three months and whether they are suspected of insider trading; And explain the recent research of the company’s reception institutions and individual investors, and whether there is any violation of the principle of fair disclosure.
In addition to questioning the company’s speculation in the stock price, the attention letter focuses more on the company’s performance changes and “stock speculation”.
The attention letter requires the company to explain the reasons and rationality of the mismatch between the company’s operating revenue and net profit growth in the fourth quarter; Whether the company’s production and operation environment has undergone significant adverse changes, whether its main business has the ability of sustainable operation, and the measures taken or proposed to be taken to improve the ability of sustainable operation (if any); Explain the reason and rationality of your company’s large loss in securities investment.
Screenshot content of attention letter since January 29
these listed enterprises are also keen on “stock speculation”
Although from the perspective of investors, minority shareholders of many listed companies prefer listed companies to focus on the development of their main business and do not want to get involved in “stock speculation”.
However, the reporter of shell finance and economics noted that many listed companies speculate in stocks, bonds and even futures. As for profits and losses, they can only bet on luck.
According to public information, Shenzhen Guangju Energy Co.Ltd(000096) , Maoming Petro-Chemical Shihua Co.Ltd(000637) , Lanzhou Huanghe Enterprise Co.Ltd(000929) , Shanghai Weihong Electronic Technology Co.Ltd(300508) , The Pacific Securities Co.Ltd(601099) disclosed in the performance forecast of 2021 that the securities investment income has achieved a good return.
On January 27, the performance forecast disclosed by Maoming Petro-Chemical Shihua Co.Ltd(000637) under Liu Jun, the leader of Taiyue department, showed that the net profit attributable to shareholders of Listed Companies in 2021 was 65 million yuan to 80 million yuan, a year-on-year increase of 346.72% to 449.8%. In addition, the income from securities investment increased by more than 3.7 million yuan over the same period last year (belonging to non recurring profits and losses).
Similarly, some companies, like Guangzhou Kingteller Technology Co.Ltd(002177) , have suffered large losses in securities investment.
On October 12, 2021, Hangzhou Haoyue Personal Care Co.Ltd(605009) announced that its subsidiary Jiangsu Haoyue futures account had a cumulative loss of 69.3415 million yuan.
Yunnan Baiyao Group Co.Ltd(000538) last year’s “stock speculation loss” was even more famous in the capital market. According to the third quarterly report of Yunnan Baiyao Group Co.Ltd(000538) 2021, the profit and loss from changes in fair value during the holding period of the company’s trading financial assets was – 1.55 billion yuan. According to the semi annual report of Yunnan Baiyao Group Co.Ltd(000538) 2021, during the reporting period, Yunnan Baiyao Group Co.Ltd(000538) invested Xiaomi group, Inner Mongolia Yili Industrial Group Co.Ltd(600887) , Jiangsu Hengrui Medicine Co.Ltd(600276) lost 610 million yuan, 170 million yuan and 180 million yuan respectively.
