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The wind of "strong supervision" is blowing down.CactuspetesresortcasinoA number of companies have been filed by the China Securities Regulatory Commission, and now it has increased again.CactuspetesresortcasinoA ST Huawei (Weiquan) (600360).
As of the close of trading on May 16, ST Huawei News 3Cactuspetesresortcasino.9 yuan per share, falling by the limit for 9 consecutive trading days.
On the evening of the 16th, ST Huawei issued a notice saying that it had received a "notice of filing a case" from the China Securities Regulatory Commission. The China Securities Regulatory Commission decided to file a case against the company on suspicion of illegal information disclosure.
Payment of more than 1.4 billion is doubtful
ST Huawei is an IDM national high-tech enterprise integrating power semiconductor device design and development, chip processing, packaging testing and product marketing. The company has 4-inch, 5-inch, 6-inch and 8-inch power semiconductor discrete devices and IC chip production lines, chip processing capacity of 4 million pieces per year, packaging resources of 2.4 billion pieces per year, modules of 24 million pieces per year.
Judging from the previously disclosed financial data, ST Huawei is doing well. Revenue from 2019 to 2022 was 16.CactuspetesresortcasinoThe net profits of .56 billion, 1.719 billion, 2.21 billion and 1.953 billion were 65 million, 34 million, 116 million and 0.58 billion respectively. In 2023, the operating income was 1.742 billion yuan, down 10.82% from the same period last year, and the net profit was 36.8694 million yuan, down 36.16% from the same period last year.
As a result of Zhonghua Accounting firm (Special General Partnership) issued a negative opinion of the "2023 Internal Control Audit report", ST Huawei shares since May 6, the implementation of other risk warnings, the company's stock abbreviated with the word "ST". ST Huawei has shown a daily limit trend for 9 consecutive trading days since May 6.
On the evening of May 16, ST Huawei also issued an announcement and received a regulatory inquiry from the Shanghai Stock Exchange on the 2023 annual report.
The inquiry letter concerns that ST Huawei's 2023 financial report and internal control report were respectively issued with qualified opinions, negative opinions and other non-standard audit opinions, mainly the outstanding amount of 504 million yuan in the book balance of the company's construction projects and 981 million yuan in the book balance of other non-current assets, including previous year payments. There are doubts about the commercial substance of the total payment of 1.484 billion yuan.
The Shanghai Stock Exchange requires ST Huawei to explain the details of the funds involved in the non-standard audit opinion, whether the above-mentioned funds directly or eventually flow to the related parties, and whether they constitute the occupation of non-operating funds of the related parties; and the repayment arrangements for the relevant funds to specify the specific time of expected recovery and whether there is a risk of irrecoverability.
In addition, the financial report shows that ST Huawei's gross profit margin in 2023 is 23.64%, an increase of 2.44% over the same period last year, which is opposite to the trend of gross profit margin of companies in the same industry. In the first quarter of this year, the company achieved operating income of 496 million yuan, an increase of 20.10% over the same period last year. The net profit before and after deducting non-return was 15.553 million yuan and 11.1627 million yuan respectively, an increase of 198.27% and 130.90% over the same period last year, mainly due to the increase in sales orders of the company. However, the net cash flow generated by the current operating activities was-494 million yuan, from positive to negative compared with the same period last year, mainly due to a decrease in cash received from the sale of goods.
The Shanghai Stock Exchange asked ST Huawei to explain the reasons and reasonableness of the gross profit margin deviating from the trend growth of the industry in 2023, as well as the reasonableness of the substantial increase in performance in the first quarter of this year and the negative year-on-year net cash flow from operating activities.
Self-examination is being carried out.
On the evening of May 17, ST Huawei also expressed its position in response to the incident of "collective abandonment" of the five directors previously reported by the media.
After trading on May 10, ST Huawei announced that Zhao Dongjun, a director acting as chairman, and Yu Shengdong, a director and CEO acting as secretary to the board of directors, gave up running for personal reasons after being nominated as a candidate for directors.
So far, including independent directors, all five current directors of ST Huawei will not run for the new term of directors. In addition, the early ST Huawei has announced that the secretary of the board of directors Sun Jiong resigned due to health reasons, and the chairman Xia Zengwen was unable to perform his duties due to health reasons. In view of the abnormal changes in the directors and senior management of ST Huawei, the SSE requires ST Huawei and related parties to carefully verify and supplement the disclosure of a wide range of information.
In the stock change announcement on the evening of the 17th, ST Huawei said that the company found that some recent online articles related to the change of the board of directors, suspicious accounts in the negative opinion of internal control, and the company had set up a special self-examination leading group and hired a third-party professional audit institution to comprehensively carry out self-examination on the matters involved in the company's 2023 non-standard audit report.
During the period of self-inspection, the company will strengthen communication and contact with the regulatory authorities, conscientiously implement various norms and measures, better safeguard and protect the rights and interests of investors, and fulfill its obligations in a timely manner in accordance with the relevant requirements.