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Annual report dystocia performance loss in advance, blockchain leading easy to see shares face delisting examination

Time : 17/09/2021 Author : 9d7ft1 Click : + -
        What makes investors feel cold is that if the 2020 annual report cannot be disclosed two months later, the company's shares will be warned of delisting risks; If it is still not disclosed within the next two months, the listing of the company's shares may be terminated. According to the financial report, the main businesses of easy to see Co., Ltd. include supply chain management, commercial factoring and blockchain business. However, the financial data of these main businesses have been questioned in recent years. In 2017, easy to see invested 1.2 million yuan to acquire Shenzhen rongshidai Technology Co., Ltd. (hereinafter referred to as "rongshidai"). That year, rongshidai contributed 100million yuan of net profit. In October 2017, easy to see set up Horgos easy to see blockchain commercial factoring Co., Ltd. (hereinafter referred to as "easy to see factoring"), and in the second year, easy to see factoring achieved a net profit of 320 million yuan.
        As the main force of revenue, the super revenue generating ability of these two new subsidiaries has raised doubts: the gross profit rate of rongdai is too high, and it is easy to see that the number of factoring and social security contributions is too small. In response to the question of excessively high gross profit margin, easy to see noted in the 2019 annual report that the operating cost of information technology did not include R & D expenditure. However, this explanation is not convincing, and it is easy to see that the shares have been covered with suspicion of financial fraud. At the end of 2020, Fang tianyuanquan certified public accountants, the auditor of easy to see shares, received a warning letter from Sichuan Securities Regulatory Bureau, which involved the financial audit project of easy to see shares. According to the warning letter of Sichuan regulatory bureau, the basic businesses and purchase and sales contracts corresponding to the customers of easy to see joint-stock factoring business are highly similar, and the counterparties of different factoring customers are highly similar. The qualifications of the relevant counterparties do not match the scale of the procurement business carried out, and some factoring customers may be controlled by the same enterprise or have related relationships.
        At the end of January, the company announced that compared with the same period last year, the performance is expected to decrease by 536 million to 586 million, a year-on-year decrease of 60.49% to 66.14%. Among them, some businesses are overdue, and credit impairment losses are accrued. It is disclosed that in 2020, the credit impairment loss of easy to see factoring business is expected to be 182million yuan, and the credit impairment loss of supply chain business is expected to be 08million yuan according to the risk portfolio, which is expected to affect the total profit of 190million yuan in 2020. According to the announcement of the pre reduction of the performance of easy to see shares, the company's audit work is being promoted at present, but due to the low proportion of letters and replies, the possibility of downward revision or loss of performance cannot be ruled out.
        On April 28, easy to see announced that the proportion of the company's letters of reply to several accounting subjects was low, and some of the letters of reply did not reach 20% of the total amount of the letters, resulting in the progress of the audit of the annual report not reaching the expectation, and there may be a risk that the 2020 annual report and the first quarter report of 2021 could not be disclosed before April 30, 2021. This A-share blockchain leader finally showed its true colors and no longer covered up. The difficult birth of the annual report means that easy to see shares face delisting risk after 4 months. This time, instead of stepping on the thunder, investors fell into a deep pit. When the financial report cannot be released on schedule, the chief financial officer of the company resigns; In the previous month, the president and executive vice president of the company resigned; Before that, the former chairman of the company resigned.
        As of September 2020, the 38.11% shares held by Jiutian holdings, the former largest shareholder of easy to see shares, have been reduced to 11% after continuous transfer and reduction, while the remaining 10% of the company's shares are frozen. No matter who is taking over the offer, there is no doubt that Leng Tianhui, a Yunnan tycoon who invested more than 300 million yuan to become the owner of Yijian shares' predecessor Hejia shares through Jiutian Holdings (formerly Jiutian industry and trade), has successfully cashed out billions and left the market in 2012.
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