Securities code: Shenzhen Minkave Technology Co.Ltd(300506) securities abbreviation: Shenzhen Minkave Technology Co.Ltd(300506) Announcement No.: 2022030 Shenzhen Minkave Technology Co.Ltd(300506)
Announcement on the company’s outstanding losses reaching one third of the total paid in share capital
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of the situation
Shenzhen Minkave Technology Co.Ltd(300506) (hereinafter referred to as “the company”) convened the 13th meeting of the 4th board of directors on April 1, 2022, deliberated and adopted the proposal on the company’s outstanding losses reaching one third of the total paid in share capital. As of December 31, 2021, the undistributed profit in the audited consolidated financial statements of the company was -44018370164 yuan, the amount of the company’s outstanding loss was 44018370164 yuan, the company’s paid in share capital was 695596569 yuan, and the amount of the outstanding loss exceeded one third of the total paid in share capital.
According to the company law, the articles of association and other relevant provisions, this matter needs to be submitted to the general meeting of shareholders of the company for deliberation. 2、 Reasons for loss
1. During the reporting period, the company sold the equity of Zhejiang Yongqi Lighting Engineering Co., Ltd., an important subsidiary. According to the agreement, the company and the equity purchaser made a performance bet on the net profit realized by Yongqi lighting during 20212023. Combined with the current industry situation and the performance forecast of Yongqi lighting in 2021, the company reasonably expects that the remaining equity transfer will not be recovered after the end of the gambling period. This part is non recurring profit and loss, and the amount of impact on the company’s net profit in 2021 is -1365999 million yuan.
2. Combined with the current scale of accounts receivable and expected credit losses of the company, according to the accounting standards for Business Enterprises No. 22 – recognition and measurement of financial instruments and accounting standards for Business Enterprises No. 8 – asset impairment, a total of 199797800 yuan of credit impairment losses and asset impairment losses were accrued during the reporting period.
3. During the reporting period, the company realized an operating revenue of 554353700 yuan, an increase of 8.09% over the previous year. However, with the intensification of industry competition and affected by factors such as the rise of raw material prices, the overall gross profit margin of the industry has decreased.
3、 Countermeasures
1. Innovate business model and fully build core competitiveness. Strengthen market development capacity, establish new infrastructure investment division and photovoltaic division, and vigorously expand urban lighting, intelligent multi-function pole and photovoltaic power generation business while comprehensively promoting new infrastructure investment projects. Through the M & A and reorganization of high-quality related industries and enterprises, broaden the horizontal and vertical industry performance growth points, carry out internal technological innovation, upgrading, transformation and upgrading, carry out external extensive M & a resource integration, further optimize the company’s industrial chain, and improve the industrial chain integration ability and cross regional cooperation ability.
2. Consolidate the management foundation and reform the business operation system. The company implements all-round fine management to promote the achievement of strategic objectives. Strengthen project contract management, strictly control relevant costs, improve project implementation efficiency and optimize the company’s business structure; In terms of operation and management, more emphasis is placed on improving efficiency and forming a higher quality input-output relationship. In the future, while promoting business growth, we will accelerate capital turnover and improve profitability by continuously strengthening management, strengthening collection and accelerating the turnover of accounts receivable.
4、 Documents for future reference
1. Resolution of the 13th meeting of the 4th board of directors;
2. Resolution of the 12th meeting of the 4th board of supervisors.
It is hereby announced.
Shenzhen Minkave Technology Co.Ltd(300506) board of directors
April 2, 2022
