Weekend thunder! Another listed company was checked!
On January 9, Shanghai Hongda New Material Co.Ltd(002211) announced that because the company was suspected of violating laws and regulations in information disclosure, the CSRC decided to file a case for investigation. such a bad news undoubtedly gave a blow to Shanghai Hongda New Material Co.Ltd(002211) 40000 shareholders, and the company’s share price will also be tested. Under the bad news, Shanghai Hongda New Material Co.Ltd(002211) stock bar also “fried the pot”.
Shanghai Hongda New Material Co.Ltd(002211) 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. The reason for the investigation, Shanghai Hongda New Material Co.Ltd(002211) was not disclosed in the announcement. according to media reports, insiders said that the probability was related to the previous Shanghai Hongda New Material Co.Ltd(002211) thunder stepping private network communication scam.
It is reported that on May 31, 2021, Shanghai Hongda New Material Co.Ltd(002211) revealed that there was a big thunder in the private network communication business: the wholly-owned subsidiaries Shanghai Hongzhu and Shanghai Guanfeng signed a series of private network communication product sales agreements with customers such as Jiangsu hongcui Industrial Development Co., Ltd. and poly Civil Explosive Technology Group Co., Ltd. from 2020 to 2021, but the above-mentioned customers were concentrated and overdue payment occurred, It brings significant risks to the company’s accounts receivable and inventory of nearly 500 million yuan.
It is understood that Shanghai Hongda New Material Co.Ltd(002211) was listed in 2008. According to the semi annual report of 2021, the company’s main business is mainly divided into processing and sales of silicone rubber and its products, processing, assembly, testing and sales of private network communication equipment, among which the subsidiary Dongguan New Oriental is engaged in processing and sales of silicone rubber and its products. As of January 9, Shanghai Hongda New Material Co.Ltd(002211) had a total market value of 1.777 billion yuan.
Wang Chikun, an independent economist, believes that filing an investigation is a major bad news for listed companies, the company’s share price will also face a stress test , and investors are afraid to sleep. After the disclosure of the information about the investigation, the shareholders of Shanghai Hongda New Material Co.Ltd(002211) wanted to cry without tears. As of September 30, 2021, Shanghai Hongda New Material Co.Ltd(002211) has 400200 shareholders.
In the Shanghai Hongda New Material Co.Ltd(002211) stock bar, the topic of investigation was quickly brushed on the screen. Some investors wrote in the stock bar “see who runs fast, turn off the lights and eat noodles for the Spring Festival”, and some investors said, “it’s estimated that they can\’t get rid of it in this life”.
It is worth mentioning that Shanghai Hongda New Material Co.Ltd(002211) received a notice from the controlling shareholder Jiangsu Weilun Investment Management Co., Ltd. on November 25, 2021. It received the filing notice from the Dantu District Supervision Committee of Zhenjiang city. Jiangsu Weilun was filed for investigation on suspicion of bribery. At present, there is no latest public information on the progress of the matter.
Since 2021, Shanghai Hongda New Material Co.Ltd(002211) has been receiving negative news.
Involvement in the “Sui Tianli” incident also directly affected the company’s operating performance. Financial data show that from January to September 2021, Shanghai Hongda New Material Co.Ltd(002211) realized an operating revenue of about 406 million yuan, a year-on-year decrease of 38.24% ; The corresponding attributable net profit loss was about 205 million yuan, with a year-on-year decrease of 696.42%. Shanghai Hongda New Material Co.Ltd(002211) in the third quarterly report of 2021, it is said that the decline in operating revenue is mainly due to the stagnation of private network communication business and the uncertain revenue from the sale of goods; The loss of attributable net profit was mainly caused by the acquisition of Shanghai Guanfeng, which is expected to fail to meet the performance commitment and the high risk of recovery of private network communication receivables, resulting in large amount of impairment.
Public information shows that Shanghai Hongzhu and Shanghai Guanfeng, wholly-owned subsidiaries of Shanghai Hongda New Material Co.Ltd(002211) , filed a lawsuit and arbitration against their customers on their defaulted private network communication service contract. Shanghai Qingpu District People’s court held a court session on the afternoon of December 22, 2021. The court informed that it was unable to serve litigation materials to the defendant Zhonghong Zhengyi Energy Holding Co., Ltd. due to the epidemic situation of covid-19 pneumonia. After examination, the court considered that the case was not suitable for further trial and ruled to suspend the case.
Shanghai Hongda New Material Co.Ltd(002211) in the announcement disclosed on December 24, 2021, the company acquired Shanghai Guanfeng in October 2019 and formed goodwill. The acquisition agreement stipulates that Shanghai Guanfeng needs to complete the three-year performance commitment. Now, due to the abnormal production and operation of Shanghai Guanfeng private network wireless communication business, it is possible to fail to complete the relevant performance commitments. Therefore, the company plans to withdraw the goodwill impairment loss of about 165.97 million yuan for the goodwill formed by Shanghai Guanfeng during the reporting period.
In addition, since November 2021, Shanghai Hongda New Material Co.Ltd(002211) has ushered in a wave of executive turnover . On November 30, 2021, the announcement disclosed by Shanghai Hongda New Material Co.Ltd(002211) at that time showed that the board of directors recently received written resignation reports from non independent directors and senior managers of the company, Zhou Jun, Zhang Yuren, Le Meiyu, independent directors Wang Hua and Dong Hongman.
(source: Beijing business daily)
