Article by Radar Finance | Edited by Wu Yanrui | Deep Sea
On the evening of August 29, Beijing Huayu Software Co., Ltd. (hereinafter referred to as “Huayu Software”) released a “good news” and a “bad news” at the same time.
The good news is that the company’s revenue in the first half of 2021 increased by 157.04% year-on-year and net profit attributable to the parent increased by 1190.39% year-on-year. The bad news is that the chairman of the company was filed for investigation on suspicion of bribery five months ago and was placed under a lien.
On August 30, the company’s stock quickly fell to its limit after the opening, and its market value evaporated by nearly 3 billion.
When reviewing the semi-annual report, it was discovered that the chairman was no longer able to perform his duties
The company stated in the “Announcement on Major Events of the Company” issued on August 29 that on August 27, the company’s board of directors reviewed the relevant proposals for the 2021 semi-annual report. Before this meeting, the company did not receive the opinion of Chairman Shao Xue on the relevant proposals for the 2021 semi-annual report, and Shao Xue will not be able to perform his duties as a director in this board of directors.
In fact, as early as March 22, 2021, Arima Software received a notice from the Beijing Municipal Supervisory Committee to file an investigation into the suspected bribery violation of the company’s chairman and general manager Shao Xue, and since March 21, 2021 Implement retention.
However, the company believes that the incident is still under investigation by relevant departments. As before the meeting of the board of directors, there was no situation that Shao Xue was unable to perform his duties, combined with relevant legal provisions, and in accordance with Article 12 of the “Information Disclosure Management Measures”, it was demonstrated that the matter did not constitute a major event that the company needs to disclose for the time being.
At the same time, Huayu Software stated that because Shao Xue could not perform his duties as a director on the board of directors, and combined with his detention, the company’s board secretary Wei Guangyu believed that the above situation may constitute a major event that the company needs to disclose, in order to avoid the company’s 2021 semi-annual report Failure to disclose on time, immediately report the above situation to the company’s board of directors.
In the end, the company decided to disclose the relevant information after careful consideration.
Arima Software also stated that this situation is only for Shao Xue personally and has nothing to do with the company. At present, Arima Software and its subsidiaries are operating in normal order, and various businesses are progressing steadily in accordance with the annual business plan.
The company’s board of directors passed a provisional proposal this time, agreeing that before Shao Xue can perform his duties, Zhao Xiaoming, the company’s director and deputy general manager, will perform the duties of the company’s chairman and general manager on his behalf.
According to data from Flush Shun iFind, Shao Xue was born in 1961 and is 60 years old this year; he graduated from the Department of Precision Instruments of Tsinghua University in 1988 with a master’s degree, and was awarded the title of engineer in 1992; he has been the general manager of the company since 2001 and has been the company since 2003. Chairman. In addition to serving as the chairman and general manager of Huayu Software, Shao Xue is also the actual controller of the company. He currently holds 110 million shares of the company, holding 13.21% of the shares, and his compensation and stock market value totaling 2.109 billion yuan. Zhao Xiaoming, who performed the duties of chairman and general manager this time, was born in 1971 and is 50 years old this year; he graduated from the Department of Precision Instruments of Tsinghua University in 1988 with a master’s degree, and was awarded the title of engineer in 1999; he was the marketing manager of the company from 2001 to 2002 , Has served as the company’s deputy general manager since 2002, and has served as the company’s director and deputy general manager since 2007 (the 2019 interim report is only for the company’s directors).
The company’s revenue and net profit have soared, and it is difficult to meet the stock limit
According to the data from Tianyan Check, Arima Software was established on June 18, 2001, and was listed on the Shenzhen Stock Exchange’s Growth Enterprise Market on October 26, 2011. The company is a company mainly engaged in product development and service of e-government system. The company mainly provides software products and overall solutions and information system planning consultation, application software customization development, information system construction, information application promotion, information system operation and maintenance management and other services.
In the first half of 2021, Huayu Software achieved operating income of 2.154 billion yuan, a year-on-year increase of 157.04%; net profit attributable to shareholders of listed companies was 215 million yuan, a year-on-year increase of 1190.39%.
The substantial increase in performance benefited from the strong customer demand in the company’s main business areas, and the rapid growth of newly signed contracts. During the reporting period, the company realized the value of newly signed contracts of 1.70 billion yuan, a year-on-year increase of 56%. Among them, the value of newly signed contracts for legal technology business increased by 92%; the value of newly signed contracts for education informatization business increased by 51% year-on-year. The contract value of Huayu Software at the end of the period was 4.678 billion yuan, a year-on-year increase of 81%.
The company’s revenue and net profit increase can hardly match the news that the chairman has been retained.
On August 27, the closing price of Huayu Software shares was 17.97 yuan per share. After the opening of the market on August 30, the stock price quickly fell by the limit and closed at 14.38 yuan, a decrease of 19.98%, and the market value evaporated 2.97 billion yuan.
Since 2021, the stock price of Huayu Software has fallen by 39.64%.
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