Late at night on January 11, Shanghai Industrial Development Co.Ltd(600748) (600748. SH) exploded a “thunder”.
According to its announcement, it has recently received a regulatory letter from the Shanghai Stock Exchange. According to the requirements of the regulatory letter, the company has carried out self-inspection on the accounts receivable of its holding subsidiary Shanghai Shangshi longchuang Smart Energy Technology Co., Ltd. (hereinafter referred to as “Shangshi longchuang”). At present, the above verification is in progress.
It’s really “I don\’t know if I don\’t check, I\’m scared when I check”!
After preliminary self inspection, “as of December 31, 2021, the unaudited accounts receivable of Shangshi longchuang totaled about RMB 2.615 billion, of which some businesses may involve financing trade, and the accounts receivable involved in such businesses may have unrecoverable risks. The company is stepping up further verification on the specific amount involved.”
Shanghai Industrial Development Co.Ltd(600748) the semi annual report of 2021 shows that Shangshi longchuang lost 152 million yuan and the cash flow from operating activities was – 585 million yuan.
Shanghai Industrial Development Co.Ltd(600748) the initial acquisition of Shangshi longchuang formed a goodwill of RMB 259 million. By the end of June 2021, the goodwill balance was still RMB 220 million.
Shanghai Industrial Development Co.Ltd(600748) said, “the company will continue to make every effort to find out the above matters as soon as possible, carefully evaluate the impact of the above matters on the company’s operating performance in 2021, and timely fulfill the obligation of information disclosure. Please pay attention to the investment risks.”
(source: 21st Century Business Herald)
