Mengshi new energy technology (Henan) Co., Ltd
Financial statement report of 2021
1、 Audit of the company’s financial statements in 2021
The 2021 financial statements of Lion New Energy Technology (Henan) Co., Ltd. (hereinafter referred to as “the company” or “lion technology”) have been audited by China Audit Asia Pacific Certified Public Accountants (special general partnership), and an audit report with no opinion was issued on April 29, 2022. The reason why the certified public accountant is unable to express an opinion is that due to the importance of the matters described in the section “forming the basis of unable to express an opinion”, it is unable to obtain sufficient and appropriate audit evidence as the basis for issuing an audit opinion on the financial statements.
The basis for the formation of unable to express opinions is as follows:
(I) debt forgiveness
As stated in note 6.52 of the financial statements, the investment income from the debt restructuring of lion technology in 2021 was RMB 2140487000, of which the investment income from the debt exemption of creditors to lion technology in December 2021 was RMB 2082521700. Mengshi technology and its subsidiaries received the debt exemption notice and debt exemption letter issued by creditors in December 2021. The amount of creditor’s rights involved in the debt exemption notice and debt exemption letter (base date: November 30, 2021) was 4030278100 yuan, with a total amount of 3404198500 yuan. Among them, the amount of creditor’s rights exempted as a shareholder of the listed company was 1321676800 yuan, and the amount of creditor’s rights exempted by other creditors was 2082521700 yuan.
Due to the failure to obtain sufficient and appropriate audit evidence for the creditor’s debt exemption of lion technology, we are unable to judge the authenticity and commercial rationality of the debt exemption made by other creditors except the creditor who is a shareholder of the listed company.
(II) it is impossible to judge whether the financial statements prepared by the company on the assumption of going concern are appropriate
As stated in notes 2.2 to the financial statements, continuous operation and 13.2 contingencies, Mengshi technology has suffered operating losses for many years. After deducting non recurring profits and losses, the net profit attributable to the shareholders of the listed company this year was -1117578400 yuan. Of the short-term loans of 1243593600 yuan at the end of the period, 1173493000 yuan was overdue, there were many litigation matters, and some assets were sealed up and frozen by the court, These circumstances indicate the existence of potential risks to the sustainable operation capacity of lion technology
Measures, but we are still unable to judge that the management of lion technology uses the going concern assumption to prepare the financial statements of 2021
Whether the report is appropriate.
(III) the financial information of durion energyag, an overseas subsidiary, is incomplete
Duraon energy AG, a 55% holding subsidiary of lion Technology (with its registered address at
Didingen, Switzerland), as of December 31, 2021, the net assets of the company were equivalent to -7.3421 million yuan,
The net profit in 2021 is equivalent to -2125200 yuan. As of the date of issuance of this audit report, lion science and Technology Institute
The hired overseas intermediary failed to provide the complete financial statements of durion energy Ag in 2020 and 2021
We are unable to obtain sufficient and appropriate audit evidence to judge durion energy
Whether AG’s financial statements are presented correctly makes it impossible to judge the impact of the event on the financial statements.
2、 Main financial data and indicators
Increase or decrease in 20212020 compared with the previous year
Operating income (10000 yuan) 947106910932869 – 13.37%
Net profit attributable to shareholders of listed companies (10000 yuan) 5113125 – 18135219 128.19%
– 11175784 – 12759236 12.41% net profit attributable to shareholders of listed companies after deducting non recurring profits and losses (10000 yuan)
Net cash flow from operating activities (10000 yuan) 20099523154706 – 36.29%
Basic earnings per share (yuan / share) 0.90 -3.20 128.16%
Diluted earnings per share (yuan / share) 0.90 -3.20 128.16%
Weighted average return on net assets 0.00% 0.00% 0.00%
Increase or decrease at the end of 2021 and 2020 compared with the end of the previous year
Total assets (10000 yuan) 4782639362735680 – 23.77%
Net assets attributable to shareholders of listed companies (10000 yuan) 1074507 – 17203829 106.25%
3、 Analysis of financial status, operating results and cash flow
(I) assets and liabilities
As of December 31, 2021, the total assets of the company are 47826393 million yuan.
The current assets decreased by 924202600 yuan in this year, and the main increase and decrease items are as follows:
1. Monetary capital decreased by 253903 million yuan or 30.93% at the end of 2021 compared with the end of 2020, mainly due to various payments made by the company to resume business during the reporting period.
2. Accounts receivable and accounts receivable financing decreased by 605728600 yuan and 4647600 yuan respectively at the end of 2021 compared with the end of 2020, down 49.94% and 51.79% respectively, mainly due to the optimization of the creditor’s rights and debt structure by means of creditor’s rights and debt transfer during the reporting period, the reasonable resolution of the recovery risk of creditor’s rights receivable and the repayment risk of debt payable, and some subsidiaries were ruled bankrupt by the court and no longer included in the scope of consolidation.
3. The inventory at the end of 2021 decreased by 217449400 yuan or 37.78% compared with that at the end of 2020, which was mainly due to the shortage of funds and the reduction of goods preparation of the company, and some subsidiaries were ruled bankrupt by the court and no longer included in the scope of consolidation. The non current assets decreased by 5667262 million yuan in this year, and the main increase and decrease items are as follows:
1. Long term receivables at the end of 2021 decreased by 132093 million yuan or 66.34% compared with that at the end of 2020, mainly due to the failure of the company’s financing to return to normal and the direct repayment of part of the due debts by the financing deposit.
2. The investment real estate at the end of 2021 increased by 60.89 million yuan or 66.60% compared with that at the end of 2020, mainly due to the transfer of hualite building into investment real estate by its subsidiary Shenzhen hualite due to the reduction of business scale. 3. Goodwill at the end of 2021 decreased by 1362653 million yuan or 56.12% compared with that at the end of 2020, mainly due to the provision of goodwill impairment after impairment calculation of goodwill generated by the company’s merger and acquisition of Shenzhen hualite.
4. Long term deferred expenses decreased by 119016 million yuan or 31.70% at the end of 2021 compared with the end of 2020, mainly due to the amortization of other deferred expenses of the company during the reporting period.
5. Other non current assets increased by 1346449 million yuan or 265.61% at the end of 2021 compared with the end of 2020, mainly due to prepayment for car purchase and equipment.
The company’s liabilities decreased by 3361873600 yuan in this year, and the main increase and decrease items are as follows:
1. The short-term borrowings at the end of 2021 decreased by 3995232 million yuan or 24.31% compared with the end of 2020, mainly due to the exemption of some creditors of the company from the company’s debts during the reporting period.
2. Accounts payable at the end of 2021 decreased by 9198259 million yuan or 55.36% compared with the end of 2020, mainly due to the bankruptcy of some subsidiaries of the company by the court and no longer included in the scope of consolidation during the reporting period.
3. The tax payable at the end of 2021 increased by 431113 million yuan or 99.59% compared with that at the end of 2020, mainly due to the increase of value-added tax payable due to the decrease of value-added tax input of inventory procurement and the increase of income tax payable due to debt exemption.
4. Other payables at the end of 2021 decreased by 9 Banbao Co.Ltd(603398) 00 yuan or 48.73% compared with the end of 2020, mainly due to the exemption of some creditors of the company from the company’s debts during the reporting period.
5. The non current liabilities due within one year at the end of 2021 increased by 365010300 yuan or 59.12% compared with the end of 2020, mainly due to the transfer of long-term loans and long-term payables into non current liabilities due within one year.
6. The long-term loan at the end of 2021 decreased by 625187600 yuan or 90.83% compared with that at the end of 2020, mainly due to the transfer of the long-term loan to the non current liabilities due within one year and the exemption of some creditors from the company’s debts.
7. The long-term accounts payable at the end of 2021 decreased by 766014700 yuan or 96.60% compared with that at the end of 2020, mainly due to the transfer of long-term accounts payable to non current liabilities due within one year and the exemption of some creditors from the company’s debts.
(II) shareholders’ equity
Unit: 10000 yuan
Project end of 2021 end of 2020
Share capital 7344567
Capital reserve 3374110820524340
Other comprehensive income -194390 -142833
Surplus reserve 195816195816
Undistributed profit -38341770 -43454895
Equity attributable to shareholders of listed companies 1074507 – 17203829
(III) operation
During the reporting period, the company achieved a total operating income of 9471069 million yuan, a year-on-year decrease of 13.37%. Among them, the main business income is as follows:
Unit: 10000 yuan
Main business income items 20212020
Energy storage industry 542578358750
Clean energy power engineering industry 11248422452520
Lead and lithium battery industry 26983612093576
Smart travel 45675705094404
Other industries 198557116631
Total 913190710115881
During the reporting period, the net profit attributable to the shareholders of the listed company was 5113125 million yuan, a year-on-year increase of 128.19%. The main changes of other items in the income statement are as follows:
1. Sales expense ratio in 2021 to 2020
