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Zhongxin Jingwei, May 22, Shenzhen Stock Exchange issued a letter of inquiry on the annual report to Joy Heart Health on May 22, requesting to explain the reason and rationality of the inconsistency between the trend of income and profit changes.
Screenshot of Enquiry Letter for Yuexin Health Annual Report Inconsistent trend of income and profit
According to the annual report, Yuexin Health achieved 1.278 billion yuan of operating revenue during the reporting period, a year-on-year increase of 9.94%, a net profit of 50.0638 million yuan, a year-on-year increase of 118.02%, a net profit of - 118 million yuan after deducting non profits, a year-on-year decrease of 46.05%, and a gross profit margin of about 22.44%, up 0.85 percentage points. Among them, the amount of non recurring gains and losses totaled 168 million yuan, which had a greater impact on net profit.
Shenzhen Stock Exchange requires that the industry environment and operating conditions of the main business in the reporting period, as well as the changes compared with the previous year, be explained by business segment, and explain the reasons and rationality of the small year-on-year growth of revenue in the reporting period, but the net profit turned from loss to profit on a year-on-year basis, and the significant narrowing of the net profit after deducting non profits on a year-on-year basis, as well as the reasons and rationality of the inconsistent trend of revenue and profit changes.
Quantitative analysis of the transaction background, transaction consideration and rationality of the non current asset disposal gains and losses of 167 million yuan in the non recurring gains and losses, and whether the relevant accounting treatment complies with the provisions of the accounting standards.
In combination with the situation that the company's net profit after deducting non profits is negative for two consecutive years in 2022 and 2023, Explain whether there is significant uncertainty about the current core assets of the company and its ability to continue operations and profitability. Ask the annual auditor to check and express clear opinions.
According to the annual report, the book value of Yuexin Health's inventory at the end of the reporting period was 195 million yuan, the provision for inventory falling price was 20.3083 million yuan, and 26.4484 million yuan was reversed. Shenzhen Stock Exchange proposed that, in combination with the production cycle of inventory, internal management system of inventory, raw materials and commodity inventory, future market conditions, etc., it should specify whether the provision for inventory depreciation reserves is fully and reasonably reversed or written off, and whether the relevant accounting treatment conforms to the provisions of the Accounting Standards for Business Enterprises. Ask the annual auditor to check and express clear opinions.
The annual report shows that the book value of the company's accounts receivable, other receivables and prepayments at the end of the reporting period was 218.6053 million yuan, 38.9167 million yuan and 38.8486 million yuan respectively, and the book value of the related party's arrears was 78.4608 million yuan, accounting for 26.47%, compared with 0.72% of the previous year. Shenzhen Stock Exchange requires to specify the nature of funds of related parties, the situation of counterparties, the background and necessity of transactions, whether the relevant funds constitute the provision of financial assistance or the occupation of non operating funds of the company, and whether the appropriate review procedures and disclosure obligations are performed in a timely manner. Ask the annual auditor to check and express clear opinions.
Increased supplier concentration
According to the annual report, Yuexin Health purchased a total of 213 million yuan from the top five suppliers during the reporting period, accounting for 24.32% of the annual total procurement, up 15.98 percentage points year on year. Shenzhen Stock Exchange requires that the reasons for the great change of supplier concentration should be explained in combination with industry characteristics, sales and procurement modes, whether there is significant dependence on a single supplier, and whether the change of major suppliers will have a significant adverse impact on the company's production and operation. Ask the annual auditor to check and express clear opinions.
The annual report shows that the ending balance of other receivables of the company at the end of the reporting period is 89337600 yuan, of which the deposit is 84.7891 million yuan, accounting for 94.91%. The ending balance of the largest debtor is 65 million yuan, with an account age of 1-2 years, and a provision for bad debts has been made of 45.5 million yuan. SZSE said that it explained the reasons and rationality of the content, occurrence time, large amount and high impairment ratio of the specific transaction, whether the debtor was a related party, whether the related party used the company's funds for non operational purposes or the company provided financial assistance to the outside world, review procedures and performance of information disclosure obligations. Ask the annual auditor to check and express clear opinions.
The income scale of mass health industry is relatively low for a long time
On October 20, 2015, Yuexin Health disclosed the announcement of changing the company's name and stock abbreviation, saying that it planned to transform into the strategic plan of the massive health industry with the combination of medicine and nursing as the core, and its business scope after the industrial and commercial changes expanded to medical enterprise management consulting, health management consulting and other fields. Since 2015, the operating revenue of the company's big health industry has accounted for less than 10%. In 2023, the company's big health industry has achieved operating revenue of 93.1033 million yuan, accounting for 7.28%, down 0.16 percentage points year-on-year.
Based on this, Shenzhen Stock Exchange said that, in combination with the industrial strategic planning, the current situation of the management team and experience accumulation, and the situation of comparable companies in the same industry, it would explain the reason and rationality of the long-term low proportion of the revenue scale of the mass health industry, and your company's future response and specific measures to be improved.
According to the official website of Yuexin Health, the company was founded in June 1993, focusing on the manufacturing and sales of architectural ceramics, building its own R&D, production and sales supporting system, and carrying out resource integration and business layout in the medical field in recent years. On May 22, Joy Heart Health opened the trading limit, and opened the trading limit in the afternoon, closing up 7.04% at 3.80 yuan, with the latest market value of 3.5 billion yuan. (Zhongxin Jingwei APP)
