In recent years, * ST has been in constant contact with negative news. Recently, * ST liaison notice said that the SFC decided to investigate the company and its actual controller, Mr. He Zhitao, on suspicion of illegal information disclosure.
The company suffered a huge loss of more than 3 billion yuan last year. After Shenzhen stock exchange sent the inquiry letter of 2019 annual report to * ST in July, it recently issued the second annual report inquiry letter.
In addition, in recent years, * ST has received a consumption restriction order, the resignation of the companys directors, overdue part of the companys debts, and the companys actual controllers shares are waiting to be frozen. If the stock market is delisted, investors will lose a lot.
27 times big bull falls back to its original shape
On the evening of last Friday (August 7), the company announced that the company and its actual controller, Mr. He Zhitao, were placed on file for investigation by the CSRC. Today, * ST contacted the drop limit with 480000 orders on the limit. As of May 31, the number of shareholders of the company was 132600.
From the perspective of stock price performance, the historical lowest price of * ST contact was 1.04 yuan (former recovery right) created in December 2012, while todays closing price of 1.33 yuan is only a step away.
According to the data, the * ST liaison also had a glorious period. In December 2012, * ST contact (formerly known as Xinshiji) fell to 16.8 yuan (post recovery right) at the lowest level. Then, under the stimulation of restructuring, the stock price rose all the way. At its peak in 2015, the stock price reached 480 yuan (post recovery right), up 27 times.
On April 8, 2014, the new century announced that it was planned to replace all assets and liabilities with 100% equity of Beijing Digital Tianyu Technology Co., Ltd. (hereinafter referred to as digital Tianyu), and the balance of the replacement will be purchased by the new century from all shareholders of digital Tianyu. After the completion of the transaction, the actual controller of the listed company was changed to he Zhitao and his persons acting in concert. Under the stimulation of this news, the companys stock price pulled out 5 one word limit board.
*St contact stock price trend from 2013 to 2015 (ex right) (photo source: Tongda letter)
According to the Research Report of securities companies in the second half of 2014, some commented that: the mobile Internet high rich and handsome built by grassroots method is a platform company with scarce a shares; from occupying the entrance of mobile Internet traffic to building a complete ecosystem, we are optimistic about the future liquidity of the company.
*Trend of St contact revenue (photo source: tonghuashun)
From the perspective of fund-raising, in 2015, the company put forward a fixed increase fund-raising plan of RMB 4.8 billion, which was implemented in February 2016; in terms of creditors rights, in 2014, the companys interest bearing liabilities were only RMB 1.97 million, while by the end of the first quarter of 2017, it had risen to RMB 4.205 billion, with an increase of RMB 4.185 billion during the period. So far, the contact interaction has raised 9.484 billion yuan through stock and debt.
Performance changes, negative news
In September 2016, the contact interaction announced that it planned to acquire 55.70% equity of us e-commerce Newegg, with the asset transaction price of US $264 million.
And Neweggs competitors are very strong. In the United States, Neweggs competitors are online retailers such as Amazon and best buy. In China, Neweggs main competitors are Taobao and Jingdong Mall.
Since 2015, through a number of mergers and acquisitions, the companys business involves intelligent hardware, e-commerce, media and finance. However, in terms of net profit changes, 2016 was a peak, reaching more than 300 million yuan at that time, and then began to decline. Last year, it lost more than 3 billion yuan.
*Change trend of St contact net profit (photo source: flush)
On the evening of January 21, this year, the company issued a notice on the correction of the performance forecast in 2019 and the warning of delisting risk. In the main body of the third quarter report in 2019, it is estimated that the net profit attributable to shareholders of Listed Companies in 2019 will change between 0 and 50 million yuan, but the revised performance forecast shows that the company will lose 2.7 billion to 3 billion yuan.
The next day, we received a letter of concern from the exchange, focusing on the companys large impairment. The questions asked are as follows:
The company expects to make provision for impairment of goodwill formed by the acquisition of Newegg, Dian win-win Group Co., Ltd. and Dongyang sanshang Media Co., Ltd. about 1.65 billion yuan. Please explain the basis, reason and specific calculation process of goodwill impairment provision in combination with the industry development status, business environment and main business development of the three subsidiaries, and whether there is any previous year If the provision for impairment of goodwill is insufficient, whether the relevant accounting treatment conforms to the provisions of the accounting standards for business enterprises.
The company will hold 369 million yuan of convertible bonds of China digital culture, a Hong Kong listed company, as available for sale financial assets, and intends to make an impairment of 320 million to 390 million yuan. Please explain the specific calculation process and specific accounting treatment of the amount of provision for impairment of the financial assets in 2019 in combination with the stock price changes of China Digital Culture during the holding period of the financial assets.
Photo source: Photo Gallery
On the evening of December 2 last year, the company announced that 51.2356 million shares of the company held by the controlling shareholder Mr. He Zhitao were frozen by the peoples Court of Futian District, Shenzhen City, Guangdong Province.
On the evening of January 10 this year, it was announced that the financial director of the company resigned.
According to the announcement on the evening of February 28, the scope of provision for asset impairment in 2019 includes accounts receivable, other receivables, inventory, goodwill and long-term equity investment, with a total of 2.575 billion yuan. The provision for impairment of assets and write off of assets are expected to decrease. The net profit of the Company attributable to the owners of the listed company in 2019 will not exceed 2.579 billion yuan.
On the evening of June 23, the company released its 2019 annual report, and Dahua Certified Public Accountants issued a qualified opinion on its financial statements in 2019. Lu Guohua, an independent director of the company, abstained from voting on the contents of the annual report due to the fact that the amount of qualified opinions in the 2019 annual audit report of the company involves a large amount of money, which affects the performance and asset status of 2019.
On July 13, the company received an inquiry letter on the annual report. After the company replied to the inquiry letter, the company recently received another inquiry letter on the annual report.
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