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The collective departure of senior executives and the three limit decline of stocks... The easy-to-see shares of Yunnan "blockchain leading stocks" were filed for investigation

Time : 07/07/2021 Author : cp3yre Click : + -
        Yunnan, a listed company known as the blockchain's leading stock, easy to see shares (600093.sh) announced in the evening of May 14 that the CSRC decided to file an investigation on easy to see shares because of suspected illegal information disclosure. For investors, this dark moment began at the beginning of the year. Since this year, the resignation announcements of the directors, President, supervisors and chief financial officer of the company have been frequently issued; From April 28 to 30, easy to see shares fell by the limit for three consecutive days. Trading has been suspended since May 6 due to the failure to disclose the 2020 annual report and the first quarter report of 2021 on schedule. 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.
 
        The main business of easy to see Co., Ltd. is divided into three sectors: supply chain management, factoring business and information service business. However, if you look at the previous official announcement, you will find many inappropriate. According to the announcement of the disclosure of easy to see shares, the top five suppliers of the company's supply chain management business procurement in 2017 changed by 3 in 2018. In 2018, three of the top five customers of the company's supply chain management business were replaced in 2018. In addition, the list of the top five customers of easy to see stock supply chain management business and commercial factoring business was completely changed in 2017 and 2018. In addition, in the list of the top five clients of the commercial factoring business of easy to see shares in 2017, the corporate mailing addresses of three Shanghai international trading companies are the same road and the same brand in Putuo District, Shanghai.
 
        In 2018, tianyancha showed that two of the companies changed their addresses at the same time, and the addresses were adjacent. However, according to Tianyan survey, the three companies have no direct equity relationship. 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. The Shanghai Stock Exchange has repeatedly asked the company to fully explain its operation and the reasons and rationality of the inconsistency between the negative cash flow from long-term operating activities and the change in net profit.
 
        In this regard, easy to see shares specifically noted in the 2019 annual report that the operating cost of information technology does 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. On January 30, 2021, easy Construction Co., Ltd. issued a performance reduction announcement, which showed that the net profit in 2020 was expected to be 300 to 350 million yuan, a year-on-year decrease of 60.49% to 66.14%. It is mainly due to the failure to recover the overdue credit impairment losses of some businesses of the company, which is expected to affect the total profit of 190million yuan; Some of the company's customers are in poor business conditions, and the company's operating rate is insufficient. The handling fee income decreased by about 316million yuan compared with the previous year, which will affect the total profit of 314million yuan.
 
        Since the beginning of this year, many directors, supervisors and senior executives have left easy to see shares. On January 5, Kan Yougang applied to the board of directors of easy to see for resignation from the positions of director, chairman, chairman of the strategy committee and member of the remuneration and assessment committee. On March 15, Leng Tianqing, a non independent director of the board of directors of Yijian Co., Ltd., resigned. On April 26, Wu Jiang resigned as a non independent director of the eighth board of directors, a member of the strategic committee and the president of the company. On April 28, Xiao kunwen, the chief financial officer of easy to see, resigned, and Wu Yu, the supervisor, resigned. For the long-term failure to publish the annual report and the first quarter report, on April 28, easy to see shares announced that the proportion of letter replies of many accounting subjects of the company was low, and the proportion of some letters did not reach 20% of the total amount of letters, resulting in the progress of the audit of the annual report did not meet expectations, and there may be a risk that the 2020 annual report and the 2021 first quarter report could not be disclosed before April 30, 2021.
 
        The difficult birth of the annual report means that easy to see shares face delisting risk after 4 months. The former largest shareholder successfully cashed out and left the market, which basically doomed investors to fall into a deep pit. In 2012, when Jiutian Holdings (formerly known as Yunnan Jiutian industry and Trade Co., Ltd.) controlled by Leng Tianhui, a natural person, became the owner of Yijian shares (then known as Hejia shares), it acquired 23.57% of the shares of Yijian shares at a cost of only 310million yuan. After several large and small increases, Yunnan Jiutian held 428million shares by the end of the third quarter of 2019, accounting for 38.11% of the total share capital. 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 10.65% through the signing of share transfer agreements and centralized bidding transactions, with cash out of more than 2.6 billion yuan.
 
        Among the remaining 10.65% shares, 55% are pledged. At present, the controlling shareholder of easy to see, Yunnan Dianzhong Industrial Development Group Co., Ltd., the second largest shareholder, Yunnan Industrial Investment junyang Investment Co., Ltd., the fourth largest shareholder, Yunnan Industrial Investment Holding Group Co., Ltd., and the sixth largest shareholder, Yunnan state owned capital operation Guoding Investment Co., Ltd., are all state-owned legal persons. The actual controller of easy to see shares is Yunnan state owned assets supervision and Administration Commission. Then, how will easy to see shares give an answer to investors when they are filed for investigation by the CSRC, required to verify and explain the authenticity of assets, and executives leave the market one after another?.
 
        
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