V View of Financial Report | Senyuan's net profit has lost for three consecutive years. Shenzhen Stock Exchange: Why?
Source: Zhongxin Jingwei 2024-05-27 11:26:33
China Singapore Jingwei, May 23 The Shenzhen Stock Exchange issued an annual report inquiry letter to Anshan Senyuan Road and Bridge Co., Ltd. (hereinafter referred to as Senyuan Shares) on May 23, asking why the net profit attributable to the parent company was continuously losing money.
Screenshot of inquiry letter
The inquiry letter mentioned that from 2021 to 2023, the company's operating revenue will be 211 million yuan, 204 million yuan and 198 million yuan respectively; The net profits attributable to shareholders of the listed company (hereinafter referred to as "net profits attributable to the parent company") were respectively - 183 million yuan, - 245 million yuan and - 115 million yuan, and sustained losses.
Shenzhen Stock Exchange requires the company to explain the main composition of income in the past three years, whether there are major changes, and to supplement the main reasons and countermeasures for the continuous low income scale; State whether there is any income that has nothing to do with the main business or does not have commercial substance and needs to be deducted; Explain the main reasons for the continuous loss of net profit attributable to the parent company , compare with comparable companies in the same industry to explain whether the relevant products are competitive in the market, and supplement the effective improvement measures that the company plans to take.
The inquiry letter mentioned that in 2023, the sales volume of the company's emergency rescue equipment, asphalt pavement recycling equipment and mixing equipment will be 568, 18 and 8 respectively, and the inventory will be 531, 18 and 10 respectively, accounting for a relatively high proportion of the sales volume. At the end of 2023, the book balance of the company's inventory is 186 million yuan, and the inventory falling price reserves are 31 million yuan.
Shenzhen Stock Exchange requires to explain the reason for the high quantity of various inventory equipment, and focus on whether the provision for inventory falling price is sufficient in combination with market competition, inventory equipment performance, etc.
The inquiry letter mentioned that by the end of 2023, the book balance of the company's accounts receivable was 284 million yuan, of which 78.87% were aged over one year, and the provision for impairment was 158 million yuan, mainly based on the aging combination.
Shenzhen Stock Exchange requires that the main reasons for the high proportion of long aging accounts receivable be supplemented, whether it is reasonable to compare with comparable companies in the same industry, whether there is any overdue situation, and whether the provision for bad debt impairment is fully withdrawn based on the reasons for withdrawing bad debt mainly according to aging rather than single withdrawal in combination with customer credit and repayment willingness.
The inquiry letter also mentioned that by the end of 2023, the company's monetary capital will be 142 million yuan, short-term borrowings will be 274 million yuan, and borrowings from other payables will be 82 million yuan.
SZSE requires to explain the funds required for the normal operation of the company's business, and in combination with the above reply, to explain whether there is a situation of borrowing funds when the monetary funds are relatively sufficient.
In addition, the annual report shows that the board of directors of the company approved on January 5, 2023, to provide Anshan Hengkuo Packaging Container Co., Ltd. (hereinafter referred to as "Hengkuo Company") with a loan of 6 million yuan, which will be used by Hengkuo Company to repay its bank loans and release the real estate mortgaged to the bank. Later, the company borrowed 18.59 million yuan from the bank with the real estate under the name of Hengkuo Company as collateral security in March 2023.
Shenzhen Stock Exchange requires to explain whether there is a connection with Hengkuo Company, the reason and rationality of the above package deal arrangement, the latest progress of relevant transactions up to now, and whether there is a risk of uncollectible loans.
According to the data, Anshan Senyuan Road and Bridge Co., Ltd. is mainly engaged in the manufacturing of high-end equipment for highway maintenance. Its main products include asphalt pavement recycling equipment, mixing equipment, snow removal equipment (emergency rescue equipment) and municipal sanitation equipment.
In the first quarter of 2024, the company achieved a revenue of 47.4803 million yuan, a year-on-year decrease of 22.73%; The net profit loss attributable to the shareholders of the listed company was 16028500 yuan, an increase of 234.97% year on year. (Zhongxin Jingwei APP)
