Is the annual report of the music network 33 asked if the profit is being adjusted?

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 Is the annual report of the music network 33 asked if the profit is being adjusted?


In May 9th, in view of the non-standard annual report of music network in 2017, with a huge loss of 13 billion 800 million yuan, the Shenzhen Stock Exchange repeatedly asked 33 to ask music network. In the letter of inquiry, the reasons and reasonableness of the large amount of impairment provision have been mentioned, and the situation of regulating profits has also been mentioned many times. Its annual report 2017 shows that the total provision for assets impairment is up to 10 billion 882 million yuan. In addition, in the enquiry letter, the Shenzhen Stock Exchange also requested the music website to explain whether the company could trigger a negative net asset to lead to a suspension of listing. By the end of 2017, its net assets were 663 million, down 93.52% from the same period last year. As of 9 days closing, LETVs share price was 4.41 yuan, down 3.29%. The four consecutive annual report was asked whether it would lead to a moratorium on listing. LETV 9 received a letter from the Shenzhen Stock Exchanges annual report. The Shenzhen Stock Exchange requested music network to answer 33 questions in its 2017 annual report. It requires the company to list the liabilities of the company by item by item in 2017, the loan of the company, the business exchange and so on. It shows that the companys debt repayment plan, the source of funds and the financing arrangements, whether there is the debt repayment risk and the countermeasures, indicate whether the companys continuing operation is in the major uncertainty, indicating whether the company is available or not. It can trigger net assets to be negative, leading to the suspension of listing. 2017 annual report disclosed that LETV net profit deficit of 13 billion 878 million yuan, becoming A share loss king. The companys annual report in 2017 was also issued by Li Xin accounting firms unable to express opinions audit report. The annual reports issued by the auditors unable to express their opinions are generally considered to be very serious problems, and the relevant companies will be focused on supervision. The network has failed to obtain the audit report of the auditors standard unreserved opinion for two years. In 2016, the auditor gave the unreserved opinion with the emphasis on the item around the related transaction. This year, the annual report of LETV has been questioned by regulators for four consecutive years. When music network announced its 2016 performance forecast, it said net profit increased 30% year on year, but the April 19, 2017 annual report was negative growth, from pre increase to pre reduction, and the Shenzhen Stock Exchange raised 16 questions at the time of the company, requiring the net to receive, prepaid and related transactions, future performance forecasts, R & D costs and personnel 16 issues, including industry data, cash flow and so on, have been disclosed in detail. 16 of them are related transactions and performance forecasts. In fact, the Shenzhen Stock Exchange has begun to inquire about related transactions after the announcement of the music network in 2015, and the last item of the 6 issues in the year asked the specific content of the related transactions, such as the music network explanation and the related partys mobile phone, the music vision movement and the music sports, and compared the pricing of the company with the non affiliated party. . In the inquiry letter of the 2014 earnings report, the 7 issues listed in the Shenzhen stock exchange mainly focus on the terminal business, advertising business and payment business. Whether to regulate profit is concerned From the letter of enquiry, the matter that accountants could not express their opinions was also asked to inquire. As of December 31, 2017, the net was prepared for bad accounts for unpaid accounts receivable and other accounts receivable and other receivables other than relevant parties, other than relevant parties. The audit report said that the company did not provide specific basis for its ratio, nor did it provide sufficient basis for the assessment of the recoverable nature of the remaining accounts receivable. The letter of inquiry said, please indicate that the company has not provided the accountant with the specific basis for the proportion of the accounting and the specific reasons for the full basis of the reclaim assessment of the above accounts receivable. The Shenzhen Stock Exchange also requires that the outstanding accounts receivable and other receivables and other receivables, which are not expected to be reimbursable except the party, are not expected to be reimbursable, including the accounts receivable and other receivables, which are not significant, including the arrears, the goods or services sold, the income confirmation of the last three years, the amount of receivables and the age, and the proportion of the accounts. And the basis for its determination, the basis for the reclaim of the remaining accounts receivable, and the authenticity of the amount of the related transactions and accounts receivable, the reason and rationality of raising the bad debts in a large amount, and whether there is a situation of regulating the profit. Early in the music online bulletin of the beginning of the announcement, the auditor said that the audit institutions have been prepared for the bad debts have been prepared to be unable to issue opinions, may be because the enterprise plan to raise bad debts too much, suspected of manipulating the current profit, that is commonly known as wash a big bath. In 2017, the capitalization of R & D expenditure was 706 million yuan, while the number of R & D personnel decreased significantly. It was asked by the Shenzhen Stock Exchange to explain whether the content and progress of the R & D project are satisfied with capitalization conditions and whether there is profit adjustment. There are frequent problems in the annual report, and a company has been investigated. According to statistics, this year, there are more than 200 companies annual reports in two cities, including 4 years of enquiries. In January 31st, Fushun special steel issued a bulletin for a suspension of discontinuation of real assets such as inventory, such as inventory, if the firms net profit attributable to the shareholders of the listed company was negative in 2017, and the company had a continuous loss after the adjustment of the real asset problems, or in 2017 and the previous year. In the case of negative assets (as a result of the annual report disclosed), the companys stock may have the risk of being warned, suspended or terminated. In addition, due to the 2017 annual report of the company has been investigated, including Whirlpool. Focus Do you have a shower situation? In the letter of the annual report, the regulatory agency inquired 33 questions about the specific circumstances of a number of businesses. The inquiry is also required to explain the reasons and reasonableness of the significant increase in CDN and bandwidth costs in the case of the major shrinking of the main business of the company in 2017. Compared with the CDN and broadband fee settlement in the year 2016 and 2017, the companys accounting treatment for CDN and broadband fees has been changed, and whether there is a cost and cost span The situation. Large related transactions remain, whether it is high performance Related party transactions remain the focus of regulators. The huge amount of related transactions still exists, and the sales amount of the music network is 3 billion 699 million yuan, accounting for 52.65% of the total annual sales, and the final balance of the accounts receivable of the affiliated party is about 4 billion 757 million yuan. The inquiry letter asks to verify whether the goods sold by the music network can be sold to the related party for the final sale, for example, the flow of the related funds, whether the related parties maliciously encroach on the interests of the listed companies; if or not, the number and reasons of the unrealized sales and whether the related parties cooperate with the company to achieve high performance. The inquiry letter also requires that the reasonableness and necessity of a large amount of related transactions continue to occur in the reporting period under the circumstances of the unrecoverable amount of the large amount receivable from the party. ? analysis Is music network suspended this time really? In this letter, the Shenzhen stock exchange request music network to show whether the company may trigger the net assets as a negative result of the suspension of the listing, and whether the net will suspend the listing, combined with the current net assets of the music vision network. Liu Buchen, a home appliance industry researcher, said that at present, the four word hard to get back can be used to describe music network as appropriate. The loss of more than 13 billion 800 million yuan has become the A share loss king. Its business has been in a quasi shock state, and neither has hematopoietic capacity nor blood transfusion opportunities. If the net assets are negative, the business level will never improve and the risk of delisting is there. Dong Dengxin, director of the Institute of financial securities, Wuhan University of Science and Technology, looks like whether the music network will suspend the listing or respect the laws and regulations. The legal suspension of listing includes three years of continuous loss, negative net assets or major illegality. Of course, it will certainly suspend the listing or delisting. It is worth mentioning that, after citing people familiar with the situation, after taking over the game, Sun Hongbin had communicated many solutions with the regulators, but they were hard to carry out for a variety of reasons, and the restructuring plan of the market was not feasible. At present, there is no suitable assets to be loaded inside the music view system. Beijing News reporter Jiang Bo Zhang Yandi source of this article: Beijing News Editor in charge: Bai Xin _NT4464 Liu Buchen, a home appliance industry researcher, said that at present, the four word hard to get back can be used to describe music network as appropriate. The loss of more than 13 billion 800 million yuan has become the A share loss king. Its business has been in a quasi shock state, and neither has hematopoietic capacity nor blood transfusion opportunities. If the net assets are negative, the business level will never improve and the risk of delisting is there. Dong Dengxin, director of the Institute of financial securities, Wuhan University of Science and Technology, looks like whether the music network will suspend the listing or respect the laws and regulations. The legal suspension of listing includes three years of continuous loss, negative net assets or major illegality. Of course, it will certainly suspend the listing or delisting. It is worth mentioning that, after citing people familiar with the situation, after taking over the game, Sun Hongbin had communicated many solutions with the regulators, but they were hard to carry out for a variety of reasons, and the restructuring plan of the market was not feasible. At present, there is no suitable assets to be loaded inside the music view system. New Beijing News reporter Jiang Bo? Zhang Yandi