Supervision and investigation! The CSRC decided to investigate Amethystum Storage Technology Co.Ltd(688086) on suspicion of violation of laws and regulations.
It is worth noting that the business model of Amethystum Storage Technology Co.Ltd(688086) after listing has changed again, which has been questioned by the market. At the same time, it has also led to a sharp decline in performance, and the higher point of the share price has fallen by about 80%.
Amethystum Storage Technology Co.Ltd(688086) was filed for investigation by the CSRC
On February 11, Amethystum Storage Technology Co.Ltd(688086) announced that the company received the notice of filing a case from the CSRC on the same day. Because the company is suspected of illegal information disclosure, the CSRC decided to file a case for investigation in accordance with the securities law of the people’s Republic of China, the administrative punishment law of the people’s Republic of China and other laws and regulations.
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.
In this regard, the relevant person in charge of the Shanghai Stock Exchange said that the listed company Amethystum Storage Technology Co.Ltd(688086) on the science and Innovation Board was filed for investigation by the CSRC on suspicion of illegal information disclosure, which the Shanghai Stock Exchange paid close attention to. Since the opening of the scientific innovation board, the Shanghai Stock Exchange has always adhered to the concept of strict supervision according to law, strengthened pre research and pre judgment, managed early and small, and worked hard to prevent the “mild disease” of the scientific innovation board company from becoming a “serious disease” and the repetition of traditional chaos in the scientific innovation board, so as to effectively ensure the smooth operation of the scientific innovation board. Next, the Shanghai Stock Exchange will continue to follow up the progress of the case, effectively protect the legitimate rights and interests of investors and maintain the healthy development order of the capital market.
Amethystum Storage Technology Co.Ltd(688086) 2020 annual report was inquired
Although the announcement disclosed by Amethystum Storage Technology Co.Ltd(688086) has not explained the specific matters involved in the violation of letter phi, the market believes that this probability is related to the 2020 annual report.
Amethystum Storage Technology Co.Ltd(688086) since the listing of the science and innovation board in 2020, we have received regulatory inquiry letters for many times, and internal problems have been exposed frequently. At Amethystum Storage Technology Co.Ltd(688086)
The 2020 annual report shows that by the end of 2020, Amethystum Storage Technology Co.Ltd(688086) prepayment balance had reached 136 million yuan, a sharp increase of 2.53 times over the previous year, including 78.2344 million yuan of prepaid technology development fee. In addition, the company signed a technical service contract or sales contract with relevant suppliers in 2020, with a total contract amount of 87.7874 million yuan. The company paid the full amount of the contract in the form of bank acceptance bill according to the contract. The company’s prepaid technology development fee suppliers and R & D fee suppliers involve a total of 9. However, in the end, because the original planned project could not be implemented as scheduled, after negotiation, the relevant suppliers signed the original contract agreement with the company and recovered the relevant funds.
The Shanghai Stock Exchange asked it to explain the reasons for making large advance payments to suppliers without realizing sales revenue. Whether the funds flow to the controlling shareholders, actual controllers or other related parties of the company.
After repeated inquiries from the regulatory authorities, Amethystum Storage Technology Co.Ltd(688086) said that among the top ten debtors of accounts receivable by the end of 2020, some customers had related relationships with the company.
In addition, Amethystum Storage Technology Co.Ltd(688086) at the end of 2020, the book balance of accounts receivable was 684 million yuan and the balance of bad debt provision was 64.8598 million yuan. The provision for bad debts was 4.48 billion yuan, representing a significant increase of 4.48 billion yuan over the previous year. In this regard, the Shanghai stock exchange requires it to explain the reasons and rationality of the significant increase in the balance of accounts receivable aged more than one year.
Amethystum Storage Technology Co.Ltd(688086) performance fell sharply
business mode I regeneration change
It is understood that Amethystum Storage Technology Co.Ltd(688086) is a leading optical storage technology enterprise in China. It carries out the R & D, design, development, production, sales and service of optical storage media, optical storage equipment, intelligent hierarchical data storage based on optical storage technology and information technology solutions.
In fact, before the IPO, Amethystum Storage Technology Co.Ltd(688086) had accepted five rounds of examination and inquiry. The Shanghai stock exchange required Amethystum Storage Technology Co.Ltd(688086) to make a detailed description of related parties and related transactions, large dividends before the issuer’s declaration, sales mode and customers, large prepayments and other current assets.
However, after Amethystum Storage Technology Co.Ltd(688086) was listed, the business model changed greatly and the performance also declined sharply. Recently, Amethystum Storage Technology Co.Ltd(688086) disclosed that the net profit attributable to shareholders of listed companies is expected to be 6.5 million yuan to 9.75 million yuan in 2021, a decrease of 97.2764 million yuan to 94.0264 million yuan compared with the same period last year, a year-on-year decrease of 93.74% to 90.60%. The company expects that the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses in 2021 will be – 3 million yuan to 250000 yuan, a decrease of 101 million yuan to 98.1043 million yuan compared with the same period of last year.
As for the main reasons for the performance changes in the current period, Amethystum Storage Technology Co.Ltd(688086) said that the company’s revenue declined due to the change of the company’s business model and the service revenue of the superimposed new model business was not formed during the construction period.
Amethystum Storage Technology Co.Ltd(688086) the business of local government data disaster recovery center in 2020 is mainly invested and constructed by the company’s joint-stock companies. The company sells equipment and solutions to the joint-stock companies to form sales revenue, which accounts for a large proportion of the company’s revenue in 2020. In 2021, the company’s local government data disaster recovery center business was mainly invested and constructed by the company’s holding subsidiary, and the data storage service fee was charged by stages after the construction was completed. In 2021, affected by covid-19 epidemic, the construction of such projects lagged behind, and the main projects were in the construction period or did not form service fee income temporarily.
In addition, Amethystum Storage Technology Co.Ltd(688086) the expansion of Xinchuang business in 2021 is in the early stage and needs a lot of market expansion. The gross profit margin is relatively low, resulting in the decline of the overall gross profit margin of the company. In addition, some Xinchuang projects are still in the delivery stage, making the contribution of Xinchuang business to the gross profit of the company limited in the reporting period. Amethystum Storage Technology Co.Ltd(688086) increase investment in subsidiaries and project companies, increase sales staff, expand sales office space, participate in industrial exhibitions and vigorously explore the market, resulting in a significant increase in employee compensation, venue rental expenses and business promotion expenses, resulting in an increase in the company’s sales expenses and management expenses.
In consideration of prudence, Amethystum Storage Technology Co.Ltd(688086) withdraw bad debt reserves at 100% of the accounts receivable of Shenzhen yuweishitong Technology Co., Ltd. as of December 31, 2021, and the impact on the annual profit of 2021 is about 27.0869 million yuan. The company is actively strengthening relevant Dunning measures. In the future, the company will timely adjust the amount of bad debt reserves according to the collection of Yuwei Shitong, the cashing of acceptance bills and the implementation of litigation.
“Chenda system” frequently reduces its holdings
Amethystum Storage Technology Co.Ltd(688086) the higher point of the share price fell by nearly 80%
Since 2021, Shenzhen Dachen Chuanglian equity investment fund partnership (limited partnership) (“Dachen Chuanglian”), the largest circulating shareholder of Amethystum Storage Technology Co.Ltd(688086) , has frequently reduced its holdings.
On January 13, Amethystum Storage Technology Co.Ltd(688086) announced that the total number and proportion of shares held by Dachen Chuanglian and its persons acting in concert decreased from 15725109 shares (accounting for 8.2598% of the total share capital of the company) to 951902 shares (accounting for 4.99996% of the total share capital of the company) from March 15, 2021 to January 12, 2022. Dachen Chuanglian is no longer a shareholder holding more than 5% of the total shares of the company.
By the end of the third quarter of last year, Dachen Chuanglian was the largest circulating shareholder of Amethystum Storage Technology Co.Ltd(688086) , holding 5358900 shares, accounting for 4.92%.
Throughout the stock price performance of Amethystum Storage Technology Co.Ltd(688086) , it has dropped from a high of 86.15 yuan / share to 19.3 yuan / share. The current high point of the stock price has fallen by nearly 80%. As of press time, the total market value of the stock was 3.674 billion yuan.
