Securities code: Easy Visible Supply Chain Management Co.Ltd(600093) securities abbreviation: ST easy to see Announcement No.: 2022041 Easy Visible Supply Chain Management Co.Ltd(600093)
Announcement on outstanding losses reaching one third of the total paid in share capital
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important contents and risk tips:
According to the audit report issued by Dahua certified public accountants, as of December 31, 2021, the consolidated financial statements of the company show that the undistributed profit in the consolidated statements is -1037391553047 yuan, the paid in share capital of the company is 1122447500 yuan, and the amount of outstanding loss exceeds one-third of the total paid in share capital.
The audited ending net assets of the company in 2020 are negative, the financial and accounting report has been issued with an audit report that cannot express opinions, and the company's shares have been warned of delisting risk. The company has disclosed the annual report of the company in 2021. The net assets of the Company attributable to the listed company at the end of 2021 are -4971656800 yuan. Dahua Certified Public Accountants issued an audit report on the annual report of the company in 2021, and the company's shares are subject to financial compulsory delisting and face termination of listing. The trading of the company's shares will be suspended from the date of disclosure of the annual report.
On April 19, 2022, the company received the advance notice of administrative punishment and market entry ban (punishment Zi [2022] No. 25) (hereinafter referred to as the "notice") issued by the CSRC. The suspected illegal facts of the company are: there are false records and major omissions in the periodic reports from 2015 to 2020; Failed to disclose the 2020 annual report on schedule. The company preliminarily judged that the illegal acts involved in the company in the notice received this time may touch the major illegal compulsory delisting situations stipulated in the rules such as the Listing Rules of Shanghai Stock Exchange. The final facts shall be subject to the conclusion of the decision on administrative punishment issued by the CSRC.
The closing price of the company's shares on April 26, 2022 is 0.78 yuan / share, which is lower than 1 yuan. The company's shares may touch the situation of compulsory delisting of trading.
Easy Visible Supply Chain Management Co.Ltd(600093) (hereinafter referred to as "the company") deliberated and adopted the proposal on the outstanding losses reaching one third of the total paid in share capital at the 33rd meeting of the 8th board of directors held from April 25 to 26, 2022. This proposal needs to be submitted to the 2021 annual general meeting of the company. The relevant information is hereby announced as follows:
1、 Overview of the situation
According to the consolidated financial statement issued by Dahua accounting firm, the total amount of the company's undistributed share capital was more than RMB 103734700 as of December 20231. According to the consolidated financial statement, the total amount of the company's undistributed share capital was more than RMB 103734700 as of December 20231. According to the relevant provisions of the company law and the articles of association, when the amount of the company's outstanding losses exceeds one third of the total paid in share capital, it shall be submitted to the general meeting of shareholders for deliberation.
2、 Reasons for loss
(I) the influence of the former controlling shareholder of the company, Yunnan Jiutian Investment Holding Group Co., Ltd. (hereinafter referred to as "Jiutian group") on the current loss of the company by instructing and directing financial fraud
1. Due to the continuous transfer and occupation of the company's funds by Jiutian group through carrying out false supply chain agency payment, false factoring business and false supply chain prepayment business, the company has tight liquidity and bears high debts, resulting in more litigation and debt verification costs. According to statistics, the company incurred financial expenses of 49103253434 yuan and related litigation costs and verification expenses of 1040664031 yuan after deducting penalty interest in 2021.
2. The company's reputation was damaged, the business volume decreased, and the financing and business development were blocked due to the financial fraud instructed and directed by Jiutian group, which had a significant impact on the sustainable operation of the company.
(II) provision for credit impairment
After the company and its subsidiaries conducted a comprehensive inventory and asset impairment test of assets with possible signs of impairment at the end of 2021, based on the principle of prudence, the company recognized various credit impairment losses of 27761359098 yuan in 2021. The main reason for the impairment is that the receivables generated by factoring business failed to be recovered after the expiration of the period.
(III) confirm the default interest of shareholder's loan
After the expiration of the 1.2 billion asset management plan contract (Broker: Zheshang Securities Co.Ltd(601878) ) signed between the company and Yunnan Dianzhong Venture Capital Co., Ltd. (hereinafter referred to as "Dianzhong venture capital"), the company has repaid the principal of the repurchase price of 550 million yuan, 300 million yuan and 350 million yuan in October 2018, December 2018 and may 2019, but has not paid the recoverable excess purchase price and default interest. Calculated according to the maturity date to December 31, 2021, the total default interest is 5090574876 yuan, The accrued penalty interest is 4959838539 yuan, and 130736337 yuan should be accrued in 2021;
The 650 million asset management plan contract signed between the company and Yunnan central venture capital (securities firm: Dongzheng Ronghui Securities Asset Management Co., Ltd.) is calculated according to the maturity date to December 31, 2021, with a total penalty interest of 24699668234 yuan, a penalty interest of 13815433718 yuan has been accrued, and a penalty interest of 10884234516 yuan should be accrued in 2021;
The 335 million asset management plan contract (Broker: Jinyuan bailijunzhong No. 1 single asset management plan) signed by the company and Dianzhong venture capital, calculated according to the maturity date to December 31, 2021, has a total penalty interest of 11576133469 yuan, has accrued a penalty interest of 5954913232 yuan, and a penalty interest of 5621220237 Yuan should be accrued in 2021.
3、 Countermeasures
(I) business management
The company will vigorously promote market-oriented reform, adjust business structure and optimize asset allocation. Proceed from the actual situation, withdraw from high-risk business, release development potential, and manage subsidiaries with clear property rights, clear rights and responsibilities and scientific management. Fully tap their own advantages, explore and innovate, deeply tap the potential cooperation opportunities in the market, and further improve the company's operating conditions and profitability.
(II) debt collection
The company will clarify the occupation of funds according to the investigation results of the case, continue to carry out self-examination, implement the settlement of related debts of Jiutian group, actively promote the collection of large receivables, further straighten out the relationship between creditor's rights and debts, assign special personnel to manage and be responsible to the end, and take various means, including legal means, to protect the legitimate rights and interests of the company and shareholders.
(III) internal control
Further improve the level of corporate governance and ensure the scientificity and standardization of the requirements of governance system; Improve the working mechanism of internal control, standardize the authorization management, and give full play to the supervision function of the audit committee and the internal audit department; Continue to strengthen the construction of internal control, optimize the internal control process, eliminate hidden dangers, control risks and promote the healthy development of the company.
(IV) cost reduction and efficiency increase
The company will take "actions create results and results produce value" as the guidance, strengthen management and improve efficiency as the goal, and take the result orientation as the principle to realize fine management and scientifically predict revenue, cost and profit. At the same time, we will further deepen the market-oriented selection and employment mechanism and implement the full staff performance appraisal system. The company will increase revenue and reduce expenditure to achieve cost reduction and efficiency.
It is hereby announced.
Easy Visible Supply Chain Management Co.Ltd(600093) board of directors April 27, 2002
