On February 11, the listed company Amethystum Storage Technology Co.Ltd(688086) (688086. SH) on the science and Innovation Board announced that the CSRC decided to file a case for investigation due to suspected illegal information disclosure.
Amethystum Storage Technology Co.Ltd(688086) said that during the filing and investigation period, the company will actively cooperate with the work of the CSRC and perform the obligation of information disclosure in strict accordance with the regulations. As of February 11, 2022, Amethystum Storage Technology Co.Ltd(688086)
Amethystum Storage Technology Co.Ltd(688086) the 2020 annual report shows that the company has frequently changed its business model after listing, and the entrusted R & D object and the nature of prepayment have also changed significantly. Some media inferred that the “qualitative change” of the company after listing should be the direct reason for the investigation. In fact, previously, the Shanghai Stock Exchange has conducted regulatory inquiries on the above issues for many times.
In addition, Amethystum Storage Technology Co.Ltd(688086) has also seen an obvious change after its listing, that is, the substantial increase of prepaid technology development fees and prepaid equipment payments. According to the 2020 annual report, Amethystum Storage Technology Co.Ltd(688086) prepayment balance reached 136 million yuan, a sharp increase of 2.53 times over the previous year, including 78.23 million yuan of prepaid technology development fee. At the same time, the rationality of the company’s equipment prepayment of 42.07 million yuan is also obviously insufficient, which has been inquired by Shanghai Stock Exchange (hereinafter referred to as “Shanghai Stock Exchange”).
In addition, from the audit opinion issued by the annual audit accountant, in the early stage, Lixin Certified Public Accountants issued a qualified opinion on the 2020 annual report disclosed by Amethystum Storage Technology Co.Ltd(688086) , which mainly involves the recoverability of prepaid technology development fee, prepaid equipment payment and accounts receivable. The audit institution believes that Amethystum Storage Technology Co.Ltd(688086) has not provided sufficient data and information, and it is unable to obtain sufficient and appropriate audit evidence for the commercial essence of prepayments and the recoverability of accounts receivable. Therefore, it expresses reservations on the annual report of Amethystum Storage Technology Co.Ltd(688086) .
Since the release of the 2020 annual report, the Shanghai Stock Exchange has made three regulatory inquiries about Amethystum Storage Technology Co.Ltd(688086) before and after, involving a total of 38 questions. In addition to the above two doubtful points of business model change and large advance payment, many details such as accounts receivable, upstream and downstream changes and monetary funds are also within the vision of continuous supervision.
It is understood that Amethystum Storage Technology Co.Ltd(688086) was established in April 2010 and officially landed on the science and Innovation Board on February 6, 2020. It is mainly engaged in the R & D, production and sales of optical storage devices and solutions. Its direct customers include system integrators, data center operators and telecom operators, and finally applied to the government, enterprises and institutions.
