Log in to Sina Finance APP to search [Xinpi] to see more evaluation levels.
On the evening of May 15, Shenzhen Stock Exchange issued a letter of inquiry about the 2023 annual report of Huizhou Intelligent Technology Group Co., Ltd. The inquiry letter requires Huizhou Intelligence to state that the impairment of accounts receivable tested separately during the reporting period shall be transferred back to the corresponding time and amount of the impairment provision, as well as the reason, basis and reasonableness of the reversal, and whether there is a situation in which the return adjustment profit is mentioned through the impairment meter.
According to the inquiry letter, in the process of reviewing the 2023 annual report of Huizhou Intelligence (hereinafter referred to as the "Annual report"), the Shenzhen Stock Exchange paid attention to the following mattersSlotstars:
1. According to the annual report, the amount of government subsidies included in the non-recurrent profit and loss of Huizhou Intelligence during the reporting period and the amount of impairment preparation for the impairment of accounts receivable tested separately are 2. 5%.Slotstars9.0088 million yuan, 80.4008 million yuan. Among them, the government subsidy is mainly obtained by Qizhong CNC equipment Co., Ltd. (hereinafter referred to as "Qizhong CNC"), accounting for 34% of Huizhou Intelligence's net profit of 85.1046 million yuan belonging to shareholders of listed companies in 2022.
Please Huizhou Intelligence:
(1) explain the nature, basis, arrival time and subsidy period of the government subsidy obtained by the full weight CNC, and whether the accounting treatment that is included in the current profit and loss is in line with the relevant provisions of the accounting standards.
(2) combined with the amount of government subsidy and the proportion of Huizhou Intelligence's net profit in 2022, explain whether the information disclosure performed by Huizhou Intelligence in the early period and whether there is a situation that the obligation of information disclosure has not been fulfilled in time.
(3) explain the occurrence time, amount, calculation and withdrawal time of the impairment provision for the impairment of accounts receivable separately tested during the reporting period, as well as the reason, basis and reasonableness of the reversal, and whether there is a situation in which the reversal adjustment of profits is mentioned through the impairment.
Annual audit accountants are invited to verify and express their clear opinions on (1) (3) matters.
two。 According to the annual report, the revenue of machine tool products in the Huizhou intelligent reporting period reached 719.6762 million yuan, an increase of 17.51% over the same period last year, while the revenue of the Internet information technology service industry and the media industry fell by 10.20% and 8.04% respectively. Among the top five customers, the sales of related parties are 24.7788 million yuan, accounting for 3.09% of the total annual sales. During the reporting period, the company purchased 122.629 million yuan from the top five suppliers, accounting for 22.41% of the annual purchase volume.
Please Huizhou Intelligence:
(1) explain the main reasons for the year-on-year decline in revenue from CNC machine tool products and Internet technical services and media industry during the reporting period, combined with the changes of the top five customers and the revenue growth of comparable companies, explain the rationality of the substantial increase in income during the reporting period.
(2) list the situation of major customers / suppliers, including but not limited to the basic situation, main business, major shareholders, personnel size, registered (paid-in) capital, etc., explain the amount of sales / procurement, collection / payment, whether there is a relationship, etc., and whether there is a significant difference between the scale of sales or procurement to major customers / suppliers and its basic situation, if yes Please explain the specific reason and rationality
(3) indicate whether there is a relationship between the main customer and the supplier. If so, please explain the specific situation, reason and rationality.
Ask the annual audit accountant to check and make clear comments.
3. According to the annual report, Huizhou intelligent R & D investment during the reporting period was 52.7233 million yuan, down 18.62% from the same period last year, of which the capitalized amount was 12.4295 million yuan, an increase of 17.57% over the same period last year, and the capitalized amount accounted for 23.57% of the R & D investment.
Please Huizhou Intelligence, combined with the specific R & D content and progress during the reporting period, explain the judgment basis, time point and accounting compliance of R & D investment capitalization, and whether there is a big difference between R & D expenditure capitalization rate and companies in the same industry.
Ask the annual audit accountant to check and make clear comments.
4. According to the annual report, the final book balance of Huizhou smart accounts receivable is 312.1675 million yuan, of which those with an age of more than three years is 181.3138 million yuan, accounting for 58%. The balance of the provision for bad debts at the end of the period was 192.4532 million yuan, the proportion of which was 61.65%, which was 3 percentage points lower than that of the initial provision of the period. The company shall make full provision for bad debts for accounts receivable with an age of more than three years. During the reporting period, Huizhou Intelligence set aside 7.1852 million yuan for bad debts and recovered or transferred back 20.2324 million yuan for bad debts. According to the top five accounts receivable collected by the defaulting party at the end of the period, the total accounts receivable amount to 64.7272 million yuan, of which all the bad debt provisions are made corresponding to the first two customers. In addition, the final balance of Huizhou intelligent notes receivable was 144.1114 million yuan, a substantial increase compared with the opening balance of 5.083 million yuan.
Please Huizhou Intelligence:
(1) explain the reasons for the relatively high balance of accounts receivable for more than three years, as well as the basic information of the main defaulting parties, including, but not limited to, the name, place of registration, registered capital, personnel, main business scope, major shareholders, current operating conditions, time of sales formation, sales content, basis for early recognition of income, main terms of the contract, payment arrangements and the main reasons why the payment has not been recovered for a long time.
(2) explain whether the main business involved in the failure to recover accounts receivable for more than three years is significantly different from comparable companies in the same industry, and in combination with the company's revenue recognition policy, indicate whether the recognition of sales revenue in the previous period is prudent and reasonable.
(3) to explain the occurrence time, amount, calculation time of impairment provision and the reason, basis and rationality of the reversal or recovery of bad debts during the reporting period.
(4) combined with the credit policy and its changes, this paper explains the reasons for the substantial year-on-year increase in bills receivable and the sharp increase in bill settlement at the end of the reporting period, as well as the impact of the substantial increase in bill settlement on Huizhou intelligent cash flow.
Ask the annual audit accountant to check and make clear comments.
5. According to the annual report, Huizhou Intelligence has a book balance of 144.2948 million yuan at the end of other receivables, of which the related party Qiqihar Xinhao run Cheng Real Estate Development Co., Ltd. borrowed 89.8756 million yuan, and set aside 78.8827 million yuan at the end of the bad debt provision. the proportion is 62.29%. The nature of the payment is 4.3 million yuan at the end of the period in the "other" category. The book balance of other receivables with an age of more than three years is 78.9019 million yuan at the end of the period, accounting for 63%. The provision for bad debts of other receivables at the end of the period was 66.82%, an increase of nearly 20 percentage points over the beginning of the period. Among the top five end-of-period balances collected by the defaulting party, the final book balances of natural persons Jiang Hu, Liu Debin and Cai Rui were 14.2932 million yuan, 11.45 million yuan and 6.8142 million yuan respectively, and the proportion of provisions for bad debts at the end of the period were 4.97%, 38.86% and 100%, respectively. The final balance of the natural person Luo Shengqin is 0, and the opening balance is 2.2204 million yuan.
Please Huizhou Intelligence:
(1) in the light of Xinhao Runcheng's industry, operation and financial situation, explain the possibility of recovery of the loan receivable and whether the provision for bad debts is sufficient, explain whether there is a relationship between Xinhao Runcheng and its major shareholders, actual controllers and Huizhou intelligence and directors, supervisors, senior managers, more than 5% shareholders and controlling shareholders. Whether there are other interest arrangements, whether the above-mentioned loan eventually flows to Huizhou intelligent controlling shareholders, directors, supervisors, senior managers and other interested parties, and whether it forms non-operating occupation.
(2) explain the reasons for the relatively high balance of other accounts receivable for more than three years, as well as the basic information of the main defaulting parties, including, but not limited to, the name, place of registration, registered capital, personnel, main business scope, major shareholders, current operating conditions, time of formation of sales, content of products sold, basis for early recognition of income, main terms of the contract, payment arrangements and the main reasons why the payment has not been recovered for a long time
(3) explain the formation process of equity transfer of natural persons Jiang Hu, Liu Debin, Cai Rui, Radio and Television Express Group Co., Ltd., Luo Shengqin, including the specific content of equity transfer, formation time, collection arrangements, reasons for long-term non-recovery, etc. Explain the relationship between the above-mentioned four natural persons and the company and directors, supervisors, senior managers, more than 5% shareholders and controlling shareholders, the relationship of concerted action or other relationships that may tilt interests, whether there are other interest arrangements, and so on, and combined with the financial situation of the natural person Jiang Hu, it shows whether the provision for bad debts of the receivables is sufficient.
Ask the annual audit accountant to check and make clear comments.
6. According to the annual report, the final balance of Huizhou Smart prepayment is 40.2035 million yuan, an increase of 16% over the beginning of the period. According to the top five prepaid balances collected by the prepaid object, the total prepaid amount is 7.7239 million yuan, accounting for 19.21% of the total balance at the end of the period.
Please Huizhou Intelligence to explain the specific contents of the prepayment, including the main purpose and nature of the prepayment, the main object and basic situation of the prepayment, the final flow of the prepayment, and the reasons for the increase in the prepayment compared with the beginning of the reporting period. and whether the prepayment is occupied by related parties (in disguise).
Ask the annual audit accountant to check and make clear comments.
7. According to the annual report, the final book value of Huizhou intelligent inventory is 802.6537 million yuan, an increase of 22% over the beginning of the period, and the proportion of provision for price decline at the end of the period is 12.95%, which is three percentage points lower than that at the beginning of the period. In the ending inventory, the book value of products and issued goods is 294.6229 million yuan and 266.6517 million yuan respectively, accounting for 37% and 33% respectively.
Please Huizhou Intelligence:
(1) explain the main composition of the end-of-period inventory of the company by product, and explain the reason and rationality of the decrease in the proportion of provision for price decline in the case of a substantial increase in end-of-period inventory.
(2) explain the names of the first five customers who issued the goods, the time of signing the contract, the amount, the time of issuing the products, the arrangements for acceptance and collection, the current carryover, etc., as well as the main reasons for the large amount of goods issued.
(3) explain the reasons why the goods issued do not meet the conditions for revenue recognition, and combined with factors such as historical sales returns, explain whether there is a risk that the goods issued will not be able to generate income, and whether Huizhou Intelligence can effectively control the goods issued.
(4) explain the main composition of product inventory, storage age, etc., combined with the development of the industry, market demand, inventory price, cost changes and existing orders, explain the process and basis, rationality and adequacy of inventory price preparation.
Ask the annual audit accountant to check and make clear comments.
8. According to the annual report, the book value of Huizhou Intelligence's long-term equity investment at the end of the period is 822.2127 million yuan, and the balance of impairment provision at the end of the period is 234.1948 million yuan, of which the balance of impairment provision for Jinhua hand Speed Information Technology Co., Ltd. (hereinafter referred to as "Jinhua hand Speed") is 218.6111 million yuan. During the reporting period, Huizhou Intelligence invested 40.95 million yuan in four companies, including Huaxing Technology (Beijing) Co., Ltd. The long-term equity investment income accounted for by the equity method during the reporting period was 64.2244 million yuan, of which 38.1269 million yuan, 12.6321 million yuan and 9.975 million yuan were recognized for Hainan Qiji Technology Co., Ltd., Shandong Zhonghong Information Technology Co., Ltd., Ningbo Shouke Yanyuan Kangtai Venture Capital Partnership (limited partnership) respectively.
Please Huizhou Intelligence:
(1) explain the basic situation of the new investment in four companies, including the time of investment, the amount of investment, the proportion of shareholding, the basis of pricing, the main business and financial situation of the subject matter, and whether there is a connection, etc.
(2) explain the basic situation of the previous investment in Jinhua hand speed and the operation of Jinhua hand speed after the investment, explain the specific time of the impairment of Jinhua hand speed investment, and the main reason and basis for calculating the large amount of impairment, and on this basis, explain whether the relevant investment decisions related to Huizhou intelligent investment are prudent, and whether the company directors are diligent and responsible.
(3) combined with the operation situation of Hainan Qiji and other companies, it shows whether the basis for Huizhou Intelligence to confirm the large investment income is sufficient, especially after Huizhou Intelligence lost the control of Hainan Qiji, the fundamental reason why its business scale and income have significantly improved, whether Huizhou Intelligence's decision to give up its control is reasonable.
9. According to the annual report, the final balance of Huizhou Intelligence's other non-current financial assets measured at fair value and whose changes are included in the profits and losses of the current period is 557.1294 million yuan, and the fair value change income of 83.2707 million yuan was realized during the reporting period.
Please Huizhou intelligently explain the main contents of other non-current financial assets, including investment target, investment time, investment amount, operation, etc., and explain the specific calculation basis and process of fair value change income.
Ask the annual audit accountant to check and make clear comments.
10. According to the annual report, among the other payables of Huizhou Intelligence, the ending balances of intercompany loans and the other two categories are 38.859 million yuan and 32.9715 million yuan respectively, of which the company's loan balance is 53% lower than that at the beginning of the period.
Please Huizhou intelligently explain the formation process of the loan and the main contents of the "other" category in the payables.
Ask the annual audit accountant to check and make clear comments.
11. The annual report shows that Chengdu Tianma Precision Machinery Co., Ltd., Beijing Tianma Bearing Co., Ltd., and Zhejiang Tianma Bearing Group Co., Ltd. are subsidiaries of shareholders whose original shareholding exceeds 5% and are related parties of the company. During the reporting period, the company's purchases and sales amounts from the above-mentioned companies were 570,000 yuan and 46.824 million yuan respectively.
Please explain the specific content of purchase and sales in the above-mentioned related party transactions. On this basis, explain the reasons, rationality and necessity of Huizhou Intelligent purchasing from related parties and selling to them, and explain the fairness of the pricing of the above-mentioned related party transactions based on comparable market prices.
Ask the annual auditor to verify and express clear opinions.
(Article source: Duchuang)