On March 2, the management department of gem company of Shenzhen Stock Exchange issued a supervision letter to Guangzhou Hangxin Aviation Technology Co.Ltd(300424) company. According to the supervision letter, the announcement on retroactive recognition of financial assistance to related parties and the announcement on correction and retroactive adjustment of previous accounting errors disclosed by the company on February 28, 2022 show that the company signed sales contracts with related parties Tianhong airlines and Nantong Huaxia respectively in April 2019, and the company purchased two aircraft fuselages from Tianhong airlines at the price of 59.64 million yuan, Then resell it to Nantong Huaxia at the price of 60.22 million yuan. The essence of the transaction of these sales contracts is that the company provides loans to Tianhong Airlines by purchasing aircraft asset packages, and recovers the principal and interest of the loans by selling aircraft asset packages to Nantong Huaxia. The company actually provided Tianhong airlines with a loan of 20 million yuan with a service life of 68 days. The profit generated from the transaction of 580000 yuan is counted as interest income. The company did not fulfill the review procedures and information disclosure obligations on the above financial assistance matters until February 28, 2022, and corrected the accounting errors, reducing the operating revenue of 2019 by 59.64 million yuan, accounting for 4.17% of the corrected operating revenue of 2019. There was a situation that the information disclosure was not timely and accurate.
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