Are there steps taken to improve the current material uncertainty about the ability to continue as a going concern? ST Intercontinental Income Annual Report Inquiry Letter_ Oriental Fortune Net

May 13,ST IntercontinentalAfter receiving the inquiry letter for the annual report of the Shanghai Stock Exchange, I was asked three questions. Among them, the inquiry letter pointed out that the company’s shares have been issued other risk warnings. As of the end of the reporting period, the company’s current liabilities were higher than current assets of 4.6 billion yuan, and there were large overdue loans and pending lawsuits, and liquidity was difficult. The company is required to explain the specific debt situation, overdue scale, repayment ability and follow-up arrangements so far, whether it has taken or plans to take measures to improve the current major uncertainties in its ability to continue as a going concern, and make adequate risk warnings.

The annual report shows that the company’s income from changes in fair value during the reporting period was -583 million yuan, and the change in income in the same period last year was 1.351 billion yuan, with a large change. The company disclosed that the fair value of investment real estate fell and the fair value of other non-current financial assets fell. The company is required to explain the specific circumstances of the investment real estate project, the amount of impairment, the signs of impairment, the basis for impairment, the selection of key parameters, the evaluation method and process; and whether the relevant assets have undergone significant adverse changes.

During the reporting period, the company received the final judgment of the Supreme People’s Court, ordering the company to repay the principal of 500 million yuan and related interest and other expenses to the creditor Shengshi Assets. It is required to explain whether the relevant estimated liabilities are adequately accrued in combination with the specific content, amount, responsibility, and other pending litigations provided by the company to Takizhou Xinke, and to check whether other litigations have accrued estimated liabilities but not accrued. In light of Takizhou Xinke’s production and operation conditions, solvency, etc., explain the company’s subsequent repayment arrangements and whether relevant measures have been taken to recover from Takizhou Xinke.

(Article source: Interface News)

Article source: Interface News

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Original title: Are steps being taken to improve the current material uncertainty about the ability to continue as a going concern? ST Intercontinental Annual Report Inquiry Letter