Sudden explosion of large amount of goodwill impairment and smooth operation of stock price

category:Finance
 Sudden explosion of large amount of goodwill impairment and smooth operation of stock price


In 2018, the net profit of successful operation was 93.2825 million yuan, and the net profit of the first three quarters of 2019 was 109 million yuan. Suddenly, it was announced that the great loss in 2019 was undoubtedly huge.

According to the statement of smooth operation, according to the actual operation of the invested company or the assets forming goodwill and industry factors, and based on the preliminary judgment of the companys financial department and evaluation agency, there are signs of impairment of relevant goodwill and long-term equity investment. It is estimated that the provision for impairment is 786 million yuan, of which the provision for impairment of goodwill is expected to be 758 million yuan. This has raised questions from regulators.

It turns out that there is a harmony in the semi annual report of the smooth operation, and no impairment of goodwill has been accrued. From the original book value of goodwill, the large amount includes Shenzhou Yiqiao (Beijing) finance and taxation Technology Co., Ltd. (hereinafter referred to as Yiqiao finance and taxation), involving an amount of 897 million yuan; the unit of Horgos Kuaima finance and Taxation Management Service Co., Ltd. (hereinafter referred to as Kuaima finance and Taxation), involving an amount of 1383 million yuan. Does the notice of smooth operation indicate that there are problems in these two assets?

The interface news reporter noted that the company successfully completed the major asset restructuring of issuing shares to purchase 100% shares of E-Bridge finance and taxation in 2016. Peng Cong, Baida Yongxin Investment Co., Ltd. and Guangxi Taida new original equity investment Co., Ltd. promised that the net profit of the target company after deducting non recurring profit and loss from 2016 to 2018 would be no less than 80 million yuan, 94 million yuan and 1070 yuan respectively 0 yuan. According to the public information, although the completion rate of the commitments in 2018 is less than 100%, the cumulative completion rate in three years is 103.23%, which does not deviate from the expectation.

Another acquisition of 60% equity of Kuaima Finance & Tax took place in 2018. After the completion of the transaction, the company successfully holds 100% equity of Kuaima Finance & tax. The relevant performance commitment period is 2017-2019. So far, the performance commitment completion rate of Kuaima finance and tax in 2017 and 2018 is 119.29% and 103.82% respectively, and there is no obvious problem.

Therefore, the company management department of Shenzhen stock exchange directly inquired whether the smooth operation, whether the performance of Yiqiao finance and tax had declined significantly in 2019, whether Kuaima finance and tax had not fulfilled the performance commitment in 2019, and even whether the smooth operation could adjust the profit through the provision of large asset impairment.

The stock price of the smooth operation has been unable to bear the burden. On January 23, there was a drop stop. On February 3, another one word drop stop was recorded. On February 4, the price continued to reach a low price of 3.84 yuan, which is still the new low since April 3, 2009, falling below the 10-year low line. Since then, the stock price of the smooth operation has rebounded slightly. As of February 6, the stock price was 4.36 yuan.

According to the arrangement, the smooth operation will submit relevant materials to Shenzhen by February 10. Source: interface news Author: Zhao Yangge editor in charge: Yang binu nf4368