The Shenzhen Stock Exchange issued an inquiry letter to Huayi Brothers whose performance has declined.
On May 6, the Shenzhen Stock Exchange issued an inquiry letter to Huayi Brothers Media Co., Ltd. (300027, Huayi Brothers), asking the company to explain the occurrence of related assets The specific time of the indication of impairment and the basis for accruing the impairment provision, the reason and rationality for the relevant inventory to be fully accrued for the decline in price, and the relevant account receivables for fully accruing the provision for bad debts and its reasonableness; 2019 operating income, net profit, The reasons for the significant decrease in net cash flow from operating activities, as well as the company’s specific measures to improve operating performance and sustainable operating capabilities.
Shenzhen Stock Exchange pointed out that Huayi Brothers ’2019 annual financial report was issued by accountants with a qualified audit report with emphasis on matters. The reservations involved matters that accountants were unable to fully accrue the inventory decline price provision for the company ’s inventory book balance of 62.93 million yuan, and obtained sufficient and appropriate audit evidence for STX FINANCING and LLC to accrue bad debt preparation for accounts receivable.
In this regard, Shenzhen Stock Exchange requires Huayi Brothers to combine the specific time when the company ’s related assets show signs of impairment and the basis for accruing the impairment provision, indicating that the relevant inventory is fully calculated Reasons for the provision for falling prices and the provision of bad debt provisions in full in relation to accounts receivable and their rationality. And ask the accountant to explain the audit procedures that have been carried out on the matter of reserved opinion, the specific circumstances and reasons for not obtaining sufficient and appropriate audit evidence, the basis for the audit judgment of the reserved opinion, and the reason why the matter involved in the reserved opinion does not have a broad impact on the company’s financial statements Whether there is a situation where a negative opinion is replaced by a reserved opinion or an opinion cannot be expressed.
Shenzhen Stock Exchange also noticed that the performance of Huayi Brothers declined significantly. In the reporting period, Huayi Brothers achieved operating income of 2.186 billion yuan, a decrease of 43.81% over the previous year; realized net profit attributable to shareholders of listed companies (hereinafter referred to as “net profit”) -3.96 billion yuan, up The annual decrease was 262.32%; the net cash flow from operating activities was 90.356 million yuan, a decrease of 84.48% from the previous year. Therefore, the Shenzhen Stock Exchange requires companies to combine factors such as business model, settlement methods, credit policies, revenue recognition principles, and industry supervision policies to explain the reasons for the sharp decline in operating income, net profit, and net cash flow from operating activities in 2019 The company’s specific measures to improve its business performance and sustainability.
Shenzhen Stock Exchange also noticed that the performance of Huayi Brothers declined significantly. In the reporting period, Huayi Brothers achieved operating income of 2.186 billion yuan, a decrease of 43.81% over the previous year; realized net profit attributable to shareholders of listed companies (hereinafter referred to as “net profit”) -3.96 billion yuan, up The annual decrease was 262.32%; the net cash flow from operating activities was 90.356 million yuan, a decrease of 84.48% from the previous year. Therefore, the Shenzhen Stock Exchange requires companies to combine factors such as business model, settlement methods, credit policies, revenue recognition principles, and industry supervision policies to explain the reasons for the sharp decline in operating income, net profit, and net cash flow from operating activities in 2019 The company’s specific measures to improve its business performance and sustainability.
In addition, the Shenzhen Stock Exchange also asked Huayi Brothers to explain Zhejiang Dongyang Haohan Film and Entertainment Co., Ltd. and Shenzhen Huayuxun Technology Co., Ltd. who will appear in 2019.The company’s performance, as well as the specifics of the top five customers of the company’s accounts receivable and the top five of the prepayment balance.
A week ago, Huayi Brothers just announced that it would increase the blood supply.
On the evening of April 28, Huayi Brothers released a plan for the non-public issuance of A shares, saying that it is planned to not exceed 824 million shares with a total of 2.78 yuan / share. The total amount of funds raised does not exceed 2.29 billion yuan, which will be used to supplement working capital and repay borrowings after deducting the issuance costs. Alibaba Pictures on the fixed increase list was the first time that Huayi Brothers was a shareholder in the war investment. However, before this fixed increase, there were many related transactions between Alibaba Pictures, Tencent Computer and Huayi Brothers. It is worth noting that this fixed increase also introduced state-owned assets. Among them, Shandong Jingda Technology Industry Development Co., Ltd. (Shandong Jingda) is a wholly-owned state-owned enterprise directly under the management committee of Jining High-tech Zone, with a registered capital of 1.5 billion yuan. The actual controller of Shandong Jingda is the State-owned Assets Office of Jining High-tech Zone.
On May 6, Huayi Brothers closed at 3.97 yuan / share, an increase of 0.76%.