On the evening of February 16, China Dive Company Limited(300526) (300526, SZ) announced that it planned to change the audit institution of financial statements in 2021. The reporter of the daily economic news noted that China Dive Company Limited(300526) will disclose the 2021 annual report on April 22. Now there are only about two months left.
The imminent change of audit institution also makes people worry that it will affect the release of the company’s annual report. In this regard, the reporter called the China Dive Company Limited(300526) secretary office as an investor on the 17th. The staff of the company said that at present, the new accounting office has started the audit work and will promote it in accordance with the disclosure requirements of the annual report. At present, there is no sign that it will affect or delay the release of the annual report.
continuous change of audit organization
According to the announcement, China Dive Company Limited(300526) was originally employed by Tianjian Certified Public Accountants (special general partnership) (hereinafter referred to as Tianjian), which has provided the company with annual report audit services from 2019 to 2020.
The proposed new accounting firm is Asia Pacific (Group) accounting firm (special general partnership), which was established in September 2013 and has 43 audit clients of Listed Companies in 2020.
Recently, Yu Tianjian announced his resignation, “Due to the business development needs of your company, the signing accountants and key team members who provide audit services for your company can not fully meet the requirements of your company in terms of audit time and personnel arrangement. In order to ensure the audit quality and do not affect the timeliness of the company’s audit work and information disclosure, we take the initiative to resign the audit of your company’s annual report in 2021.”
The reporter noted that this is not the China Dive Company Limited(300526) first time to change the audit institution. In December 2019, China Dive Company Limited(300526) announced that it would not renew the appointment of Zhonghua Certified Public Accountants (special general partnership) (hereinafter referred to as Zhonghua), which “provided audit services for the company for many consecutive years”, and newly hired Tianjian to be responsible for the audit of the company in 2019 and issued the audit report of “standard unqualified opinion”.
However, in December 2020, China Dive Company Limited(300526) again announced the replacement of the accounting firm, no longer renewed Tianjian, and proposed to hire Zhonghua again. In February 2020, China Dive Company Limited(300526) said that due to the change of the audit schedule of the company, Zhonghua could not meet the needs of the company according to the original agreed time, and could not adjust and arrange personnel for the time being, so it continued to hire Tianjian for the audit of 2020.
In 2020, Tianjian issued a qualified audit report with significant uncertainties related to going concern for China Dive Company Limited(300526) .
China Dive Company Limited(300526) also received the inquiry letter from Shenzhen Stock Exchange, asking to explain the reasons for the company to change the annual accounting firm and whether there are major differences between Zhonghua and the company on major matters. The opinion audit report with significant uncertainty of going concern issued by Tianjian was also required to be explained in detail by Shenzhen Stock Exchange.
revenue fell sharply in 2021
Behind the continuous change of audit institutions, China Dive Company Limited(300526) also has many problems.
In October 2020, China Dive Company Limited(300526) received the notice of investigation from the CSRC. Because the company was suspected of violating laws and regulations in information disclosure, the CSRC decided to file a case for investigation.
On August 31, 2021, China Dive Company Limited(300526) received the decision on administrative punishment issued by Guangdong regulatory bureau of China Securities Regulatory Commission.
In addition, since late March 2021, China Dive Company Limited(300526) has replaced three chairmen. After the resignation of the former chairman Zhang Shun, who has been reappointed for many years, Chen Chunguo served as chairman for four months, and Zhou Qian served as chairman for less than three months. At present, the chairman of China Dive Company Limited(300526) is Han Zhenghai.
Under the frequent replacement of the chairman, China Dive Company Limited(300526) still has little improvement in performance.
China Dive Company Limited(300526) it mainly produces a series of snorkeling equipment and swimming supplies, such as diving goggles, diving breathing tubes, fins, swimming goggles, swimming caps and swimming accessories. On January 28, the company released the performance forecast for 2021, with an estimated operating revenue of 25.46 million yuan to 32.45 million yuan, compared with 167 million yuan in the same period of last year, a sharp decrease year-on-year; The net profit loss is expected to be 110 million yuan to 150 million yuan, with a year-on-year decrease of 20.73% ~ 41.87%.
According to the company, the annual revenue in 2021 decreased significantly compared with the same period of the previous year because the company stopped some production lines in October 2020 and has not recovered in 2021. The existing business did not meet the expectations due to changes in the market, production and sales personnel and other reasons.
