Gaohong Co., Ltd. (000851.SZ) recently received a letter of concern from the Shenzhen Stock Exchange, requesting to explain whether there is a sudden profit-making situation for to sell its subsidiary Beijing Datang Gaohong Technology Development Co., Ltd. (hereinafter referred to as "Gaohong Technology").
Red Star Capital Bureau noticed that Gaohong Technology is an important subsidiary of Gaohong Co., Ltd., with revenue exceeding 2 billion yuan in 2020, accounting for more than 30% of the company's total revenue. Now it is directly sold for 180,000 yuan.
On April 19, 2021, at the 2021 Shanghai Auto Show, Gaohong Co., Ltd. unveiled in the Auto Parts Exhibition Hall. According to the picture, IC photo
html sells out its subsidiary for 5.18 million yuan, receivables is as high as 1.3 billion
Gaohong Co., Ltd. is a high-tech enterprise under China Information Technology Group . It was successfully listed in 2003. Its main business is industry enterprises, information services and IT sales.
On December 30, 2021, Gaohong Co., Ltd. issued an announcement stating that it plans to transfer 100% of the equity of its subsidiary Gaohong Technology to Beijing Xinheng Zhongda Technology Co., Ltd. (hereinafter referred to as "Xinheng Zhongda") and natural person Deng Bo. The transaction price is 180,000 yuan, and it is expected to increase the company's net profit in the consolidated financial statements of about 5.3529 million yuan (unaudited). After the transfer is completed, the company no longer holds shares in Gaohong Technology, and Gaohong Technology will no longer be included in the company's consolidated financial statements.
Gaohong Co., Ltd. stated that based on the latest financial statements of Gaohong Technology and the business situation, after friendly negotiation, the transaction price was 180,000 yuan. Among them, the transfer of 99% of Gaohong Technology's equity to Xinheng Zhongda was at a transaction price of 178,200 yuan; and the transfer of 1% of the equity to natural person Deng Bo was at a transaction price of 1,800 yuan.
Regarding the reasons for the transfer, Gaohong Co., Ltd. stated that the company's IT sales-related business has been integrated internally, streamlined institutions, and specially transferred Gaohong Technology's equity to the outside world. This transfer meets the company's strategic development needs. This transaction will not have a material adverse impact on the company's current period and future financial status and operating results, nor will it harm the interests of the company and all shareholders.
As an important subsidiary of Gaohong Co., Ltd., Gaohong Technology's revenue in 2020 was more than 2 billion yuan, accounting for more than 30% of the company's total revenue. Why is "sold with tears" at a super low price? Perhaps the important reason is that it is in serious losses with Gaohong Technology and the difficulty in collecting huge receivables.
As of November 30, 2021, Gaohong Technology's unaudited total assets were 1.295 billion yuan, but its net assets were only 68,700 yuan, and the total accounts receivable reached 1.283 billion yuan. At the same time, in 2020, Gaohong Technology achieved audited operating income of 2.482 billion yuan and net profit of 959,000 yuan; from January to November 2021, Gaohong Technology achieved unaudited operating income of 1.536 billion yuan and net profit of -48.5994 million yuan.
"Spot Scout Operation" has attracted a letter of attention. Will it make a sudden profit?
"Sealing Warrior" Xinhengzhongda where is the sacred place? Why can we win over the "big-giant" Gaohong Technology with an annual revenue of more than 2 billion yuan in one fell swoop?
Limited public information shows that the legal representative of Xinheng Zhongda is also Deng Bo, but the natural person Wei Ming holds 100% of his equity. Xinheng Zhongda has a registered capital of RMB 10 million, and was once known as Beijing Green Energy Technology Co., Ltd. and Beijing Meiduobang Medical Equipment Co., Ltd. As of the end of 2020, Xinheng Zhongda's total assets were only 8.15 million yuan, with operating income in 2020 of 7.54 million yuan, and net profit was less than 10,000 yuan.
On the surface, the small Xinheng Zhongda seems to be suspected of "snake swallowing elephant", but it is not clear what background there is behind him. The Red Star Capital Bureau called the listed company Gaohong Co., Ltd. for this question, but no one answered the public phone number.
and Gaohong Co., Ltd. itself is also facing great pressure. The company achieved revenue of 7.018 billion yuan in 2020, a year-on-year decrease of 38.5%; net profit was a loss of 196 million yuan; in the first three quarters of 2021, a net profit of 5.262 billion yuan, a net profit of 24.6339 million yuan. Although the company successfully turned losses into profits in the third quarter report, Gaohong Technology, which had huge losses, is still like a time bomb, making the company turn losses into profits throughout the year. I am afraid that this is an important reason for the emergency sale before the end of 2021.
Gaohong Co., Ltd.'s "spot operation" method on the penultimate day in 2021 also made the regulatory authorities alert. The Shenzhen Stock Exchange issued a letter of concern to the company to explain, and based on the specific time of signing the transaction agreement and the transaction price payment arrangement, the accounting basis for the transaction "it is expected to increase the company's 2021 consolidated financial statement net profit of approximately RMB 5.3529 million (unaudited)", and based on the company's operating conditions in the fourth quarter, it shows whether the company has a "shock profit creation" situation?
In addition, the Shenzhen Stock Exchange also requires the company to explain the reasons and rationality of the sharp decline in Gaohong Technology's revenue and net profit in 2021; it requires the reasons and rationality of the high proportion of accounts receivable balance to operating income, and list the specific situation of accounts receivable of 1.283 billion yuan and the measures taken.
html closed on January 7, Gaohong Co., Ltd. was 5.73 yuan per share, down 1.04%, with a total market value of 6.53 billion yuan.As of now, Gaohong Co., Ltd. has not yet responded to the Shenzhen Stock Exchange's letter of concern.
Gaohong Co., Ltd. Weekly K-line chart
Red Star News reporter Li Weiming
Editor Ren Zhijiang
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