After the disclosure of the annual report, many listed companies received inquiry letters from the exchange. According to the incomplete statistics of China Securities Journal and China Securities Taurus reporter, more than 40 listed companies received annual report inquiry letters on May 4 and 5 alone. From the content of the inquiry letter, the performance change is a major focus of the exchange.
performance was questioned
The actual revenue, net profit and performance forecast in the annual reports of some listed companies are quite different, causing inquiries from the exchange.
Rongfeng Holding Group Co.Ltd(000668) 5 at noon, the company received the inquiry letter of the annual report. The exchange pointed out that the performance forecast of 2021 disclosed by the company shows that the operating revenue in 2021 is expected to be 430 million yuan, and the net profit after deducting non recurring profits and losses is 70 million yuan to 130 million yuan. According to the annual report, the company achieved a total operating income of 252 million yuan in 2021, and the net profit after deduction was – 143 million yuan. The exchange requires the company to explain the reasons and specific differences between the estimated revenue and the audited revenue in 2021.
Due to the substantial revision of the early performance forecast of some listed companies, the independent directors have doubts about the annual report performance, which triggered the inquiry of the exchange.
Safbon Water Service (Holding) Inc.Shanghai(300262) received the inquiry letter of the annual report. According to the revised announcement of the 2021 annual performance notice disclosed by the company on April 26, the net profit attributable to the shareholders of the listed company in 2021 was revised from the expected loss of 570 million yuan to 730 million yuan to the expected loss of 1.2 billion yuan to 1.4 billion yuan, mainly by adjusting the relevant income and costs according to the latest progress of the project price review or the final price review results, and making up accounts receivable, other accounts receivable Impairment loss of contract assets and goodwill and compensation for delayed construction.
On April 28, Safbon Water Service (Holding) Inc.Shanghai(300262) disclosed the annual report of 2021, which showed that the audited net profit was 1.304 billion yuan, of which Liu Tao, an independent director, was unable to judge the rationality of the provision for asset impairment and the amount of written off assets in 2021 because the company’s business rules had not changed substantially, and it was difficult to judge its rationality, abstained from voting on relevant bills, and could not maintain the authenticity of the annual report; Independent director Li Jianyong and supervisor Chen Xing were unable to judge the rationality of all relevant items in a short time after receiving the financial report because the amount of provision for asset impairment and write off of assets in 2021 was very large, so they abstained from voting on relevant proposals.
annual report “non-standard”, goodwill impairment provision and other questions
In addition to the change of performance, the non-standard audit opinion report issued by the audited institution of the annual report, the provision for large amount of goodwill impairment, the high proportion of total accounts receivable in the total operating income, and the sharp year-on-year decline in the turnover rate of accounts receivable are also the main reasons for the annual report inquiry letter issued by the exchange.
Among them, Tibet Development Co.Ltd(000752) , Hangzhou Century Co.Ltd(300078) and other companies have issued annual report inquiry letters due to the non-standard audit opinion reports issued by the audited institutions.
In terms of accounts receivable, Xinjiang Sailing Information Technology Co.Ltd(300588) received the inquiry letter of the annual report, which showed that by the end of 2021, the balance of accounts receivable of the company was 3222181000 yuan, a decrease of 28.73% compared with the beginning of the period; The total accounts receivable accounted for 222.03% of the total operating revenue, and the turnover rate of accounts receivable was 0.332, a year-on-year decrease of 37.75%. Accounts receivable aged more than 3 years accounted for 29.11%. The provision for bad debts of accounts receivable totaled 1835865 million yuan, accounting for 126.32% of the total operating income.
According to the requirements of the exchange, in combination with the formation background of accounts receivable, the credit status of relevant debtors, the adopted credit policies, etc., explain in detail the reasons and rationality of the high proportion of the company’s total accounts receivable in the total operating revenue, the sharp year-on-year decline in the turnover rate of accounts receivable, and whether there is any behavior of relaxing credit policies to increase sales during the reporting period. Combined with the sales model, credit policy, credit status of major customers and relevant information of comparable companies in the same industry, explain the reason and rationality of the high proportion of receivables aged more than 3 years.
