As a digital currency concept stock Shenzhen Infogem Technologies Co.Ltd(300085) , the performance suddenly “changed face”.
Last night, Shenzhen Infogem Technologies Co.Ltd(300085) announced that it is expected to have a significant loss of 200-250 million yuan in 2021, from profit to loss. The reason, Shenzhen Infogem Technologies Co.Ltd(300085) in addition to the poor performance of its main business, it also made a significant provision for goodwill impairment.
Affected by the news, Shenzhen Infogem Technologies Co.Ltd(300085) opened sharply. As of the closing on January 25, the stock fell 12.24% to RMB 15.34, with a total market value of RMB 10.8 billion,
Shenzhen Infogem Technologies Co.Ltd(300085) advance loss of 200 million to 250 million yuan
significant provision for goodwill impairment
On January 24, Shenzhen Infogem Technologies Co.Ltd(300085) released the performance forecast, which said that the net loss attributable to the shareholders of the listed company in 2021 is expected to be 200 million yuan to 250 million yuan, with a profit of 20.8583 million yuan in the same period of last year; After deducting non recurring gains and losses, the net loss was 210 million yuan to 260 million yuan, with a profit of 7.6689 million yuan in the same period of last year.
Shenzhen Infogem Technologies Co.Ltd(300085) said that in 2021, in the company’s main business, the financial information business was affected by the order volatility of large bank customers, the operating revenue decreased significantly compared with the previous year, and the operating profit was a loss; The mobile information service business is affected by the increase of channel costs of telecom operators and industry competition, the operating revenue and gross profit margin have decreased compared with the previous year, and the operating profit has suffered a loss; The operating income of e-commerce business increased steadily compared with the previous year, and the operating performance remained stable and profitable. The impact of credit investigation, securities and other businesses of the company’s strategic investment on the company’s investment income this year is about -15.0189 million yuan.
Another important reason for Shenzhen Infogem Technologies Co.Ltd(300085) from profit to loss is its significant provision for goodwill impairment. According to the accounting regulatory risk tip No. 8 – goodwill impairment and relevant accounting policies, due to the operating profit loss of the mobile information service business of the company’s subsidiary Yimei softcom, according to the preliminary impairment test of the goodwill formed by the company’s early acquisition of Yimei softcom, the company plans to withdraw about 127 million yuan of goodwill impairment reserve for Yimei softcom in 2021. The amount of the final provision for impairment of goodwill shall be determined after evaluation and audit by the evaluation institution and audit institution hired by the company.
The impact of the company’s non recurring profit and loss on the net profit in 2021 was about 10.4787 million yuan, a decrease of 2.7107 million yuan compared with the same period of the previous year.
Yimei softcom’s profitability is worrying
Since 2021, the performance of Shenzhen Infogem Technologies Co.Ltd(300085) has been unsatisfactory. The net profit attributable to the parent company began to decline year-on-year in the first quarter of 2021, and the net profit attributable to the parent company in the half year decreased by 176% year-on-year. In addition, the total operating revenue also declined in the third quarter.
It is worth noting that in the semi annual report of 2021, Shenzhen Infogem Technologies Co.Ltd(300085) also mentioned the risk of goodwill impairment in addition to short-term profitability, shortage of working capital and operation and management risks.
Shenzhen Infogem Technologies Co.Ltd(300085) said in the semi annual report that at the end of 2020, the book value of the company’s goodwill was 156 million yuan, which was the goodwill formed by the company’s acquisition of Yimei softcom and Anke innovation. Affected by the rising cost of short message channel of telecom operators and industry competition, the operating performance of Yimei softcom has decreased. Yimei softcom is trying to improve the company’s business performance by improving the gross profit margin of short message business and developing 5g message innovation business. At present, various business measures are progressing normally. If the above operating measures fail to achieve the expected results, the profitability of Yimei softcom will continue to decline, and the goodwill formed by the company’s acquisition of Yimei softcom may be impaired, which will have an adverse impact on the company’s total assets and profitability.
Shenzhen Infogem Technologies Co.Ltd(300085) bought Yimei softcom for 300 million yuan
The share price soared 45 times in two years
In 2014, Shenzhen Infogem Technologies Co.Ltd(300085) purchased 100% of the total equity of Yimei softcom legally held by Feng Jun, Li Yan and Hongdao Tianrui by issuing shares, and the transaction price of the underlying assets was 300 million yuan.
According to tianyancha data, since its establishment in 2001, Yimei softcom has always been committed to providing mobile commerce platforms and operation services with international technical standards for Chinese and foreign enterprises. At present, Yimei softcom has provided mobile personalized customer service, mobile data collection, mobile efficient management and other mobile commerce products and communication services for more than 300000 enterprises. Its business services cover more than 200 million mobile phone users. It is a leading mobile commerce service provider in China.
In the following time, Shenzhen Infogem Technologies Co.Ltd(300085) arranged a number of popular businesses in the market through mergers and acquisitions, cooperation and other forms for many times, and the stock price soared continuously. In two years, the stock price rose nearly 45 times, becoming the best stock in the market at that time.
However, the sharp decline after the sharp rise has also made many investors “eat sticks”, and the share price of 1115.48 yuan / share has become a high point that Shenzhen Infogem Technologies Co.Ltd(300085) can no longer touch. So far, the stock has been reported at 15.54 yuan, down more than 98.6% from the historical high.
Shenzhen Infogem Technologies Co.Ltd(300085) force digital RMB business
It is understood that Shenzhen Infogem Technologies Co.Ltd(300085) is a national high-tech enterprise serving the field of financial informatization in China and focusing on the development of bank image application software. The main products are computer printing verification system, batch printing verification system, bill image exchange business processing system, bank enterprise reconciliation management system, etc. Software products are widely used in ICBC, ABC, CCB, urban commercial banks, rural commercial banks and foreign banks.
On December 21, 2021, Shenzhen Infogem Technologies Co.Ltd(300085) said on the investor interaction platform that 5g message is a new generation of short message technology supporting multiple media formats, with the characteristics of message as a service, lightweight, strong touch and so on. Digital RMB is a legal tender in digital form issued by the Central Bank of China. The combination of 5g news and digital RMB can promote the convenience of commercial services and provide customers with more novel and convenient services. The 5g messaging platform of “Yimei softcom” is docking with operators and actively exploring the application of digital RMB in trading scenarios.
In addition, Shenzhen Infogem Technologies Co.Ltd(300085) also said that Shujie technology is currently in the establishment stage, and the company will timely fulfill its information disclosure obligations in accordance with relevant regulations in the follow-up progress. The company has established a special digital RMB team, which has a basic accumulation in products and technologies, and actively discusses and establishes cooperation with commercial banks, payment companies, business scenarios and other institutions. The company’s investment in the field of digital RMB depends on the business progress.
