(Original title: Hua Hong Jitong was filed for alleged violation of letter and disclosure regulations, and small and medium investors have the opportunity to claim compensation)
On the evening of November 26, Hua Hong Computer (300330) issued an announcement stating that the company had received the “Case Initiation Notice” from the China Securities Regulatory Commission, and the China Securities Regulatory Commission decided to file a case against the company due to suspected violations of information disclosure.
Hua Hong Jitong stated that the company’s current production and operation conditions are normal. During the investigation period, the company will actively cooperate with the investigation work and perform the information disclosure obligations in strict accordance with the regulations.
Affected by this news, the opening of Hua Hong Computer on the 29th fell by more than 7%. As of the close of the 29th, the company’s stock price was reported at 9.37 yuan per share, down 6.21%.
It is not yet clear why Huahong Jitong was investigated. Given that the China Securities Regulatory Commission has filed a case against the company, Wu Lijun, a lawyer from Shanghai Oriental Cambridge Law Firm, said that as of the close of November 26, 2021, those holding Huahong Jitong stocks Damaged investors can register through the WeChat public account “Public Securities News” (feature code: 18018) to participate in the claim.
Public information shows that Hua Hong Computer is a state-controlled electronic toll collection and payment system solution provider and equipment supplier based on radio frequency identification technology (RFID), specializing in the design, development, and development of non-contact IC card automatic charging systems. Production and sales of integration, sales and service, and related end products.
After going public in June 2012, Hua Hong Computer made a profit of RMB 31,674,300 that year. Since then, the company’s profit has never exceeded this figure. Specifically, the company suffered losses for two consecutive years in 2015 and 2016, with a cumulative loss of 42.56 million yuan, and another loss of 19.3 million yuan in 2018. The three years of 2017, 2019, and 2020 were all meager and “stable” at 510-595. Between ten thousand yuan.
The third quarter report for 2021 shows that Hua Hong Computer made a loss of 4,562,200 yuan in the third quarter and a profit of 1,715,400 yuan in the first three quarters. It should be pointed out that in the first September of this year, Hua Hong Computer received a government subsidy of 1.6343 million yuan.
In fact, since the 2017 annual report, the annual report and interim report of Hua Hong Jitong have been issued by the Shenzhen Stock Exchange inquiring letters. Among them, there have been many abnormal situations that do not conform to the logic of conventional financial data, which has aroused the attention of all parties.
For example, Hua Hong Computer’s revenue in the first three quarters of 2018 fell sharply year-on-year, while its operating revenue in the fourth quarter increased sharply year-on-year; in 2018 and the first quarter of 2019, its Hohhot urban rail fare collection system project implementation progress was 0, but continued to receive Receivables; in 2019, the company’s operating income and accounts receivable showed a reverse change of one increase and one decrease; in 2020, the company’s revenue increased by 24.45% year-on-year to 324 million yuan, and net profit increased by only 14.86% year-on-year to 5.8823 million yuan. The net cash flow from activities was -59.014 million yuan from positive to negative; in the 2021 interim report, the company’s accounts receivable increased by 28.68% from the beginning of the period to 152 million yuan, and other receivables increased by 133.43% from the beginning of the period. , And the company only accrued the corresponding bad debt losses of -6,267,100 yuan and -28,600 yuan.
To this end, the Shenzhen Stock Exchange has asked the company to explain in its previous inquiry letters: whether the amount of project payments and advance receipts is incorrect, the top five accounts receivable correspond to the credit status of customers, other reasons for the substantial increase in receivables, bad debts Whether the provision is sufficient, the reason and rationality of the reverse changes in operating cash flow and income and net profit data, and the large differences in the financial data of each quarter, whether there is adjustment of profits to avoid suspension of listing, etc.
It is worth mentioning that following the investigation by the Securities Regulatory Commission, Hua Hong Jitong’s new round of fixed increase financing may be affected. In April 2021, the company announced that it would privately issue 28,208,700 shares to its controlling shareholders, Shanghai Huahong Group and Songjiang International Investment Corporation. It is expected to raise 200 million yuan at an issue price of 7.09 yuan per share. Among them, Songjiang International Investment will invest 150 million yuan as a strategic investor of the company; after the completion of this issuance, Songjiang International Investment will hold 10.61% of the company’s shares.
Reporter Xiao Hongjuan
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