Securities code: Easy Visible Supply Chain Management Co.Ltd(600093) securities abbreviation: ST easy to see Announcement No.: 2022037 Easy Visible Supply Chain Management Co.Ltd(600093)
Announcement on the correction of accounting errors in the early stage of the company
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 contents of the notice, the company adopts the retrospective restatement method to correct the important early errors involved, and makes retrospective adjustments to the financial statements from 2015 to 2020.
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 for 2021. The audited ending net assets of the Company attributable to the listed company in 2021 are -4971656800 yuan. Dahua Certified Public Accountants issued an audit report on the company's annual report for 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 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.
1、 Causes and details of accounting error correction
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 China Securities Regulatory Commission (hereinafter referred to as the "CSRC"). The suspected illegal facts of the company are: there are false records and major omissions in the regular reports from 2015 to 2020; Failed to disclose the 2020 annual report on schedule. According to the contents of the notice, the company adopts the retrospective restatement method to correct the important early errors involved, and makes retrospective adjustments to the financial statements from 2015 to 2020. The details are as follows:
(I) error correction of income, cost and profit
From 2016 to 2020, the company used 21 companies such as core enterprises and a little fat technology that had previously carried out real business to carry out false supply chain payment business, false commercial factoring business and false supply chain prepayment business by privately engraving the official seals of other enterprises, fictitious basic purchase and sales business contracts and documents, and forging payment and factoring business contracts, so as to falsely increase income and profits. In addition, from 2015 to 2020, in order to fulfill the performance commitment, the company carried out a large number of supply chain trade businesses without commercial substance, and paid trade difference, service fee, discount interest and other fees to trading counterparties through external personal accounts, so as to expand the scale of income, whitewash the business performance and falsely increase the trade income and profit.
1. From 2015 to 2020, the company successively established several trade lines through its subsidiaries Yunnan Central Yunnan Supply Chain Management Co., Ltd. (hereinafter referred to as "Central Yunnan supply chain") and Guizhou Yijian Supply Chain Management Co., Ltd. (hereinafter referred to as "Guizhou supply chain") to carry out the supply chain trade business of non-ferrous metals and other bulk commodities, recognized the revenue with the total sales and carried forward the cost with the total purchase, The profit is recognized by the difference between the sales revenue and the purchase cost, but some bulk non-ferrous metal businesses in the above supply chain trade business have no commercial substance. In addition, Yunnan Jiutian Investment Holding Group Co., Ltd. (hereinafter referred to as "Jiutian group"), the original controlling shareholder of the company, instructed the company to return the price difference generated by the purchase and sales business to the counterparty through the external account, and pay the service fee and discount interest related to the business to the counterparty, Carrying out supply chain trade business without commercial substance falsely increases the company's operating revenue and operating profit.
2. From 2016 to 2018, the company took the central Yunnan supply chain and Shenzhen rongshidai Technology Co., Ltd. (hereinafter referred to as "rongshidai") as the main body, fictitious the payment business, fictitious the basic purchase and sales relationship, forged contracts, payment instructions of core enterprises, bank receipts, commercial acceptance bills and other contract documents, continuously transferred funds to Jiutian group in the name of payment, and falsely increased the income and profit of payment service fees.
3. From 2016 to 2020, the company provided commercial factoring services through its subsidiaries Shenzhen Dianzhong commercial factoring Co., Ltd. (hereinafter referred to as "Dianzhong factoring"), Horgos Yijian block commercial factoring Co., Ltd. (hereinafter referred to as "Horgos factoring") and rongshidai, continuously transferred funds to Jiutian group in the name of factoring business, and falsely increased factoring business income and profits. After investigation, the company has cooperated with 51 real estate companies such as Yunnan austi Industrial Co., Ltd., 21 companies such as Yunnan youdianfei Agricultural Technology Co., Ltd. (hereinafter referred to as "youdianfei technology"), Yunnan Yuetan Mining Co., Ltd., Shanghai Yuanchang International Trade Co., Ltd., Shanghai Dongtan International Trade Co., Ltd., Yunnan Yuanchang Investment Co., Ltd., Yunnan Hongshi Supply Chain Management Co., Ltd The factoring businesses of Shanghai Jinyu International Trade Co., Ltd., Guangdong Jutai International Trade Co., Ltd., Jiangsu Zhuzheng Industrial Co., Ltd., Jiangsu Dancan Industrial Development Co., Ltd., Fuqing Yaodian Trading Co., Ltd., Fuzhou Lianyun Trading Co., Ltd., Fuzhou Gulou Jiashi Trading Co., Ltd. and other companies are false businesses. The funds of the company's false factoring business are used by Jiutian group as a whole. The core business of the fictitious factoring company has not been carried out.
(II) error correction of relevant taxes
Due to the adjustment of fictitious income and cost by the company, the taxes payable due to fictitious profit increase shall be adjusted accordingly. (III) error correction of impairment loss
According to the fact that the CSRC found that Jiutian group was suspected of violating the law, the company recognized the creditor's rights receivable from 21 enterprises such as a little fat technology as the related creditor's rights of Jiutian group, and accrued impairment losses on the related creditor's rights receivable from Jiutian group from 2015, and corrected the credit impairment losses accrued in 2020 in the early stage accordingly.
1. Since 2015, Jiutian group has instructed and directed the company to falsely increase bank deposits and notes receivable, falsely increase income and profits, and continuously transfer funds to Jiutian group in the name of false payment business and factoring business. Jiutian Group continues to occupy the company's funds. According to the company's accounting policies and the principle of prudence, the company accrued impairment losses on the related claims of Jiutian group according to the aging from 2015 to 2019, The specific accrual proportion is as follows:
Aging accrual proportion
1% within 1 year
1-2 years 10%
2-3 years 20%
40% in 3-4 years
4-5 years 60%
More than 5 years 100%
2. At the end of 2019, the balance of the related creditor's rights receivable from Jiutian group after deducting fictitious profits was 6.480 billion yuan, reaching 8.273 billion yuan at the end of 2020. There is significant uncertainty and significant amount in whether the related creditor's rights receivable from Jiutian group can be recovered and repaid. Therefore, the impairment loss of the creditor's rights will be accrued individually in 2020, and the accrued amount is the balance after deducting the recovered amount in 2021 and the recoverable amount predicted by the company.
(according to the data collected by the company through self-examination during the investigation with the public security organ, the recoverable asset value of Jiutian group is expected to be about 220 million yuan.)
(IV) error correction of long-term equity investment
1. According to the financial book information of the joint-stock enterprise Yunnan Junyi Intelligent Logistics Co., Ltd. (hereinafter referred to as "Junyi logistics"), the company found that its prepayment customers involved 21 enterprises such as Jiutian group's false factoring and false supply chain business, that is, youdianfei Technology Co., Ltd., and the company judged that there were significant signs of impairment in the prepayment of Junyi logistics according to the commercial essence, Therefore, the company corrected the book value of long-term equity investment of Junyi logistics in 2020.
2. In 2020, the company confirmed the investment income of 13 million yuan for Jiayi Chengxing investment (Jinan) partnership (limited partnership) (hereinafter referred to as "Jiayi Chengxing"), received the investment income of 12 million yuan paid by Jiayi Chengxing in 2021, and corrected the difference of 01 million yuan.
(V) correction of errors in bank deposits and current accounts
1. The company falsely increased bank deposits by forging bank receipts in 2015 and 2017 respectively; By fictitious transfer records of bank acceptance bills and issuing commercial acceptance bills without real trade background for entry, the falsely increased assets are corrected to the related creditor's rights of Jiutian group.
2. From 2016 to 2020, the company made false supply chain prepayment business through its subordinate Yunnan central supply chain, Guizhou supply chain, Guizhou Yihong Supply Chain Management Co., Ltd. (hereinafter referred to as "Guizhou Yihong") and 21 companies such as youdianfei technology, Jiangsu baikuanna Industrial Co., Ltd. and Guizhou Panjiang power investment Tianneng coking Co., Ltd. according to the prior notice issued by the CSRC on April 19, 2022, Combined with the company's self inspection, the creditor's rights balance formed by this part of false supply chain prepayment business is corrected to the related creditor's rights receivable from Jiutian group.
(VI) error correction of dividends payable
After the error correction of the company's income and cost in 2018, the undistributed profit in that year is negative and does not meet the conditions for dividend, so the unpaid dividend is reversed.
(VII) error correction of interest expense
1. According to the legal opinion issued by the law firm, combined with the opinions of the accounting firm and based on the principle of prudence, the company corrects the accrued overdue default interest based on the unpaid amount and the interest rate of 4 times the corresponding LPR during the overdue period.
2. After the error correction, the company did not carry out factoring business in 2020, and the factoring cost was zero, so the interest expense listed in the profit statement in 2020 was adjusted to financial expenses.
2、 Specific accounting treatment methods
According to the requirements of accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the company has retroactively adjusted the correction of accounting errors. The specific adjustment items are as follows:
(I) correct fictitious business income, cost and profit
According to the "prior notice" of the CSRC and in combination with the self inspection, the company corrected the operating revenue, operating costs and profits from 2015 to 2020. The total corrected operating revenue was 58.163 billion yuan, the operating cost was 53.381 billion yuan and the profit was 4.783 billion yuan. The more correct details of each year are shown in the following table:
Unit: 100 million yuan
Total operating revenue total operating cost total profit for the year
Corrected amount corrected amount corrected amount
2015 -44.41 -43.98 -0.43
2016 -119.20 -112.35 -6.84
2017 -120.04 -108.56 -11.47
2018 -104.70 -93.49 -11.21
2019 -109.87 -97.47 -12.40
2020 -83.41 -77.95 -5.46
Total -581.63 -533.81 -47.83
(II) correction of relevant taxes
Due to the adjustment of the company's fictitious income and cost, the tax payable due to the false increase of profits is adjusted accordingly, including enterprise income tax of 145 million yuan, tax and surtax of 04 million yuan and value-added tax of 32 million yuan.
(III) correction of impairment loss
According to the data collected by the company through self-examination in the process of case filing and investigation with the public security organ, the recoverable asset value of Jiutian group is expected to be 220 million yuan. In 2020, the company individually accrued the impairment loss of creditor's rights receivable from Jiutian group of RMB 4.794 billion (after correcting and offsetting the original accrued corresponding impairment of RMB 11.346 billion, in 2020
