On April 28, Boomsense Technology Co.Ltd(300312) ( Boomsense Technology Co.Ltd(300312) , SZ; previous closing price of 1.42 yuan; hereinafter referred to as “bangxun technology”) announced that the disclosure time of 2021 annual report was postponed for the second time because it did not reach an agreement with the annual report audit institution on major matters.
About three months ago, bangxun technology disclosed a performance forecast that its revenue in 2021 was expected to exceed 100 million yuan, crossing the “red line” of revenue at delisting risk. However, under the questioning of the exchange, the company exposed many problems: confirm the income one month before the signing of the contract
When bangxun technology and the third-party intermediary agency disagreed on asset evaluation and transaction confirmation, the reporter of the daily economic news found that the firm claiming to have stolen the official seal had been cancelled more than ten days ago, and the employees claimed to have returned to their hometown.
Recently, Boomsense Technology Co.Ltd(300312) issued an announcement on the inability to disclose periodic reports within the statutory time limit and the suspension of trading of the company’s shares. The trading of the company’s shares will be suspended from the opening of the market on May 5, 2022.
revenue recognized one month before signing the contract
Opening the announcement of bangxun technology, since the disclosure of the performance forecast of expected revenue of more than 100 million, the company has received five letters of concern from the Shenzhen Stock Exchange, one letter of criticism from the Shenzhen Stock Exchange, one warning letter from the Beijing Securities Regulatory Bureau and one supervision letter from the exchange.
In the performance forecast previously handed over by bangxun technology, the company is expected to realize an operating revenue of 110 million yuan to 155 million yuan in 2021. Among them, the subsidiary Jiangxi hainatong Communication Technology Co., Ltd. (hereinafter referred to as Jiangxi hainatong) achieved an operating revenue of about 68 million yuan; The sun company tuskong Nanjing Technology Co., Ltd. (hereinafter referred to as tuskong) achieved an operating revenue of about 51 million yuan; Sun Company Chengdu dianyi Technology Co., Ltd. achieved an operating revenue of about 29 million yuan.
As soon as the performance forecast came out, small and medium-sized investors took a reassurance first. However, before long, the attention letters came one after another, and the details of its revenue composition were put on the audit platform in turn. The first is the income contributed by the subsidiary Jiangxi hainatong. According to the data disclosed by bangxun technology, last year, the company achieved sales of 283676 million yuan to Beijing Huasheng Xin’an Electronic Technology Development Co., Ltd. (hereinafter referred to as Beijing Huasheng) and 209149 million yuan to Chengdu suirui cloud Technology Co., Ltd. (hereinafter referred to as Chengdu suirui). The total revenue recognized by the two companies accounts for about 43.55% of the total revenue after audit adjustment.
However, in the reply of Lixin Zhonglian certified public accountants, the audit institution of bangxun technical annual report, since the listed company has not coordinated the accountants to implement the project site visit procedures for the two most important customers and relevant suppliers to verify the authenticity of the project by the disclosure date, it is impossible to judge the authenticity of the transaction and the accuracy of the amount only by relying on the obtained contracts, invoices and settlement sheets, Therefore, we are unable to comment on the relevant sales revenue of Beijing Huasheng and Chengdu suirui.
The firm also failed to give a clear answer to questions such as whether bangxun technology has an associated relationship with the above two companies or other interest arrangements, and whether related businesses are accidental and temporary.
On the afternoon of April 28, the reporter of “daily economic news” called Lixin Zhonglian accounting firm to inquire about the current audit progress of bangxun technical annual report. The other party said that it was still sorting out the relevant contents, so it was inconvenient to tell more information.
However, when the reporter inquired about the relevant contracts and income, he found that the above transactions had the phenomena of early confirmation of income, short and fast transaction time, no accounts receivable and so on.
Specifically, in the notice of reply to the letter of concern, bangxun technology disclosed 16 contracts between Jiangxi hainatong and Beijing Huasheng and Chengdu suirui. Among them, the revenue of three contracts numbered 8, 9 and 10 between bangxun technology and Beijing Huasheng was recognized in advance. Further analysis shows that the signing date of the three contracts for early recognition of revenue is December 1, 2021, while the time points for recognition of revenue are October 26, November 29 and October 26 of the same year, 36 days, 2 days and 36 days in advance respectively.
At 10 a.m. on April 20, the reporter visited the residence of Beijing Huasheng displayed by the national enterprise credit information publicity system – No. 16, Shangdi Fifth Street, Haidian District, Beijing.
When the reporter asked about the promotion of the above three contracts to confirm the income in advance and the progress of payment collection, the relevant person claiming to be an employee of Beijing Huasheng general manager’s office said that the company is a secret related unit, and all information disclosed to the public can only be replied after confidential review.
In the process of continuous communication, the reporter was told to provide sealed interview letters and supporting documents. However, on the third day after the interview letter was sent to the other party through wechat in electronic form, the reporter found that it had been hacked by the other party when contacting the employee on wechat.
The reporter also noted that in the reply of bangxun technology to the letter of concern of the exchange at the end of February, the settlement mode of the businesses involved in Beijing Huasheng and Chengdu suirui was defined as follows: the payment of the system integration project was about 90% in about 6 months after the preliminary acceptance; For equipment sales, about 80% of the contract price shall be paid 3 ~ 6 months after the arrival of the equipment, and the remaining payment can be paid 6 ~ 12 months after the preliminary acceptance of the project; The maintenance service is calculated monthly and settled quarterly.
According to the above introduction, it will take 3 ~ 12 months to collect all the payment of the above projects. However, according to the data disclosed in the follow-up announcement of bangxun technology, in addition to the three contracts that recognized the revenue in advance, the 13 contracts signed from October to December last year took 17 to 67 days from signing to confirming the revenue, and the amount of payment collection was also completely consistent with the contract amount, which greatly shortened the time.
donated assets appraisal trap luoshengmen
In addition to the above revenue, another revenue “big head” in the performance forecast comes from tuskong, a sun company controlled by bangxun technology last October. However, after the audit of the accounting firm, the operating income recognized in tuskong’s original book was 487503 million yuan, which was reduced by 327623 million yuan due to the audit that the settlement sheet or acceptance report and other documents had not been obtained. The total income recognized after adjustment was 15.988 million yuan, and 67.2% of the book recognized revenue was reduced.
On April 24, bangxun technology announced that it was unable to disclose the 2021 annual report on the original date because it had not reached an agreement with the annual audit institution on the audit and evaluation matters related to Chengdu nengdun Electronic Technology Co., Ltd. (hereinafter referred to as nengdun Electronics) and the debt transfer and debt exemption of Tianfu bank.
Nengden electronics is the protagonist of this “luoshengmen”. According to the previous announcement of bangxun technology, the donor donated 49% equity of nengden electronics worth 813207 million yuan to bangxun technology. Nengden electronics became a grandson of bangxun technology. Beijing fuzeri Certified Public Accountants (general partnership) (hereinafter referred to as fuzeri) issued an audit report for nengden electronics, and Beijing Ningbang Honghe asset Evaluation Firm (general partnership) (hereinafter referred to as Ningbang Honghe) issued an evaluation report.
On April 19, Lixin Zhonglian certified public accountants said that “the electronic evaluation value of the company’s donated capital capacity shield cannot be recognized”, and also proposed that “there are problems in the qualification of the donated capital capacity shield electronic chief audit accounting firm”.
In the subsequent explanatory announcement, bangxun technology disclosed that it received an official letter from fuzeri on April 20.
In the official letter, fuzeri said that since its establishment, it has never issued any audit report and situation statement for bangxun technology and nengden electronics, and bangxun technology embezzled the official seal of the firm and the name seal of the accountant. In this regard, bangxun technology replied that the company had paid 2000 yuan of audit fees to the account named “Beijing fuzeri Certified Public Accountants (general partnership)”, had never stolen the official seal and accountant’s name seal of fuzeri certified public accountants, and there was no use of false reports.
On the morning of April 28, the reporter of “daily economic news” dialed the phone that fuzeri disclosed in the annual report. The person answering the phone said that the company had disintegrated, he left his job and went back to his hometown, and then hung up the phone. Subsequent reporters tried to contact the person by phone and text message, but as of press time, no reply was received. According to the national enterprise credit information publicity system, fuzeri was cancelled on April 15 this year.
In addition, the decision of Ningbang Honghe to revoke the equity evaluation report of nengdun electronic was sent to bangxun technology on the same day as the above-mentioned official letter. Ningbang Honghe said in a statement that the following are the main reasons for its decision to cancel: first, since the issuance of the evaluation report, the formal agreement has not been sent back and the evaluation fee has not been paid; Second, the client did not truthfully inform the appraisal purpose; Third, the evaluation process was not designed and implemented according to the risk types of securities service business. In addition, the service charge is only 5000 yuan, which is seriously inconsistent with the charging standard of securities service business. The client fraudulently obtained the evaluation report.
In this regard, bangxun technology responded that the company signed a business agreement with Ningbang Honghe and paid an evaluation fee of 5000 yuan to the account named “Beijing Ningbang Honghe Asset Evaluation Firm (general partnership)”. There was no fraud to obtain the evaluation report. It was hiring an audit institution and evaluation institution to re audit and evaluate nengden electronics.
On April 28, the reporter tried to call Ningbang Honghe to learn about the specific situation, but the contact number of the company was always turned off.
In addition, on the morning of April 29, the reporter of “daily economic news” repeatedly dialed the contact number after bangxun’s technology update, but the contact number was never answered. Then the reporter sent an interview outline to his public email, but as of the press release, he had not received a reply.
