Securities code: Sunsea Aiot Technology Co.Ltd(002313) securities abbreviation: ST rihai Announcement No.: 2022028 Sunsea Aiot Technology Co.Ltd(002313)
Reply of Shenzhen Stock Exchange to the inquiry letter of the company’s 2021 Annual Report
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Sunsea Aiot Technology Co.Ltd(002313) (hereinafter referred to as “the company” or ” Sunsea Aiot Technology Co.Ltd(002313) “) received the inquiry letter on Sunsea Aiot Technology Co.Ltd(002313) 2021 annual report of Shenzhen Stock Exchange on May 5, 2022 (annual report inquiry letter of the company Department [2022] No. 170), requiring the company to explain relevant issues. The answers to the questions involved in the inquiry letter are as follows:
Question 1. The type of audit opinion of your company’s 2021 financial report is unable to express an opinion. The basis for forming an unable opinion includes the limitation of the audit scope due to the impact of the epidemic, the significant defects in the internal control related to the financial report, the inability to confirm the adequacy and appropriateness of the provision for impairment of some assets, the accuracy of the book value of other equity instrument investments Whether the personal reserve fund in other receivables is not carried forward due to the carrying forward expenses or costs, and whether the provision for bad debt reserves is sufficient.
(1) At the end of the reporting period, the book balance of accounts receivable of your company was 2.093 billion yuan and the bad debt provision was 293 million yuan. Among them, the book balance of accounts receivable aged more than 1 year was 1 billion yuan, a year-on-year increase of 27.62%, accounting for 47.79%, a year-on-year increase of 8.19 percentage points. Please explain in detail the business sector of accounts receivable customers with an aging of more than 1 year, the reasons for the significant year-on-year increase in the book balance of relevant accounts receivable, and whether there is a significant difference in the aging structure compared with comparable companies in the same industry; Combined with the customer type and solvency of relevant accounts receivable, explain in detail whether the bad debt provision of relevant accounts receivable is reasonable and whether the bad debt provision of accounts receivable is sufficient.
reply:
1、 Business segment of book balance of accounts receivable aged more than 1 year
Unit: 10000 yuan
Situation of business segments: change rate of change amount of more than 1 year in 2021 and more than 1 year in 2020
AI IOT products and solutions 51609434873486287457 5.90%
Wireless communication module 273.20 217.96 55.24 25.34%
Infrastructure 23433981745370598028 34.26%
Engineering services 247055111967361273815 106.44%
Subtotal 10 Topsec Technologies Group Inc(002212) 78373882164824 27.62%
2、 Reasons for the significant year-on-year increase in the book balance of relevant accounts receivable
In 2021, the major business segments of which the book balance of accounts receivable aged more than 1 year increased significantly
They are AI Internet of things products and solutions, infrastructure and engineering services. reason
As follows:
1. AI Internet of things products and solutions: some project receivables with revenue recognized in 2020 are overdue. 2. A. affected by the slowdown of the macro-economic environment and the tightening of the payment environment of the company in 2020, A. affected by the slowdown of the payment environment of the company and the tightening of the related projects. b. Some IDC project customers are due to later financing and sale
It will take some time and the payment collection progress will be affected.
3. Infrastructure sector: affected by the macro environment, the budget of operators’ customers has been tightened.
3、 Changes in aging structure compared with comparable companies in the same industry
(I) AI IOT products and Solutions
Unit: 10000 yuan
AI IOT products and Solutions
Aging company Shenzhen Infinova Limited(002528) Strait Innovation Internet Co.Ltd(300300) Avcon Information Technology Co.Ltd(300074)
Proportion of book balance proportion of book balance proportion of book balance proportion of book balance proportion of book balance
7347118 36.06% 656423 27.84% 2604244 37.31% within 1 year
1-2 years 1306889 25.32% 5804648 28.49% 404032 17.13% 1961645 28.11%
2-3 years 3313556 64.20% 4785910 23.49% 953.75 4.04% 1178209 16.88%
3-4 years 540415 10.47% 1064561 5.23% 200392 8.50% 594562 8.52%
4-5 years 0.83 0.00% 701090 3.44% 982.58 4.17% 410426 5.88%
More than 5 years 0.00% 670323 3.29% 903760 38.32% 230159 3.30%
Total 5160943 100.00% 20373650 100.00% 2358239 100.00% 6979245 100.00%
It can be seen from the above table that from the perspective of comparable companies, the accounts receivable of Companies in the same industry with a period of more than 1 year also account for a high proportion.
Meanwhile, during the reporting period, the company adjusted its business ideas and stopped investing in AI Internet of things products and solutions,
Therefore, the accounts receivable within one year is 0.
(2) Wireless communication module
Unit: 10000 yuan
Wireless communication module
Aging company Quectel Wireless Solutions Co.Ltd(603236) Fibocom Wireless Inc(300638) Shenzhen Neoway Technology Co.Ltd(688159)
Amount proportion amount proportion amount proportion amount proportion amount proportion amount proportion
Within 1 year 3828415 99.29% 1 Guangdong Liantai Environmental Protection Co.Ltd(603797) 4 99.85% 11547188 100% 4539821 85.27%
1-2 years 136.54 0.35% 237.59 0.15% – 598639 11.24%
More than 2 years 136.66 0.35% – 0.00% – 185289 3.48%
Total 3855735 100 00% 160617.33 100.00% 11547188 100% 53,237.49 100.00%
There is no significant difference between the aging structure of the company’s wireless communication module sector and comparable companies in the same industry.
(3) Infrastructure sector
Unit: 10000 yuan
Infrastructure sector
Aging company Nanjing Huamai Technology Co.Ltd(603042) Shenzhen Kexin Communication Technologies Co.Ltd(300565) Tongding Interconnection Information Co.Ltd(002491)
Amount proportion amount proportion amount proportion amount proportion amount proportion amount proportion
Within 1 year 2210910 48.55% 5329490 66.01% 2324813 68.05% 8210597 75.66%
1-2 years 1023880 22.48% 1137017 14.08% 768629 22.50% 1377577 12.69%
2-3 years 274803 6.03% 534430 6.62% 145079 4.25% 348680 3.21%
3-4 years 364545 8.00% 194252 2.41% 126982 3.72% 573736 5.29%
4-5 years 320524 7.04% 878234 10.88% 234 62 0.69% 1,641.90 1.51%
More than 5 years 359646 7.90% – 0.00% 273 45 0.80% 1,774.10 1.63%
Total 4554308 100.00% 8073423 100 00% 34,163.10 100.00% 108521.90 100.00%
There is no significant difference between the aging structure of the company’s infrastructure sector and comparable companies in the same industry.
(4) Engineering services
Unit: 10000 yuan
Engineering services
Aging company Gci Science & Technology Co.Ltd(002544) Zhong Fu Tong Group Co.Ltd(300560) China Bester Group Telecom Co.Ltd(603220)
Proportion of amount in amount
Within 1 year, 4888762 66.43% 22381960 62.12% 8392470 66.51% 12427083 59.34%
1-2 years 1860047 25.27% 6409528 17.79% 2741262 21.72% 5491624 26.22%
2-3 years 208514 2.83% 3459489 9.60% 1027286 8.14% 2125218 10.15%
3-4 years 123909 1.68% 1284985 3.57% 343668 2.72% 582436 2.78%
4-5 years 515 98 0.70% 7,882.53 2.19% 598. 41 0.47% 1
