Investigating SIIC Development Explosion Subsidiary: Suspected of being involved in a private network communication scam_ Securities Times Network

Securities Times e company news, a regulatory letter surfaced the “black hole” of accounts receivable of SIIC Longchuang, a subsidiary of SIIC Development (600748). SIIC Development recently announced that the company has received a supervisory work letter from the Shanghai Stock Exchange and will carry out self-examination work on the accounts receivable of SIIC Longchuang as required. As of the end of 2021, SI Longchuang’s unaudited receivables totaled approximately 2.615 billion yuan, some of which may involve financing trade. After investigation by the reporter, it was found that the financing trade that was not “specified” in the announcement of SIIC Development may involve a series of private network communication incidents of Shanghai Electric. Taking the thread out of the cocoon, some of the downstream customers of SI Longchuang overlapped with the thunderbolt customers in the previous private network communication scam. “It is still in the process of business inspection, involving many contracts. It takes time to conduct a complete inspection before giving the self-inspection results. We will have corresponding working groups and external agencies. The current self-inspection time is estimated to take at least one week.” According to the staff of the Board Secretary Office of Real Development.