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Original titleConcordbingo: "the soul of the exchange is tortured, and the stock price immediately falls to the limit! "

Lu Jie, a reporter from China Fund News

As the 2023 internal control report was issued by annual audit accountants with major internal control defects in non-financial reports, the Shenzhen Stock Exchange issued an inquiry letter to Giant ship Intelligence on May 26, requiring the company to explain the relevant matters in detail.

Not only that, the Shenzhen Stock Exchange also requires the annual audit accountant to check the relevant matters and make clear opinions on whether the relevant defects affect the internal control of the company's financial reporting.ConcordbingoThe validity of the internal control audit report issued by the appropriateness and prudence of the type of audit opinion.

In the previous internal audit report, the audit opinion issued by the accounting firm on the internal control of financial reporting was that Giant Wheel Intelligence "maintained effective internal control of financial reporting in all significant aspects".

In early trading on May 27, Giant Wheeler opened with its daily limit. As of press time, the share price of Giant Wheel Intelligence is 2.Concordbingo.75 yuan, still sealed at the falling limit; the market capitalization is 6 billion.

Whether the related defects affect the effectiveness of internal control of financial reporting

On April 30, Xinyonghe Accounting firm said in its 2023 internal audit report that there were major defects in the internal control of non-financial reports, reminding users of internal control reports.

Its specific performance is as follows: first, the company lacks effective control measures over project payment, resulting in a large amount of other receivables 2ConcordbingoThe company provided 54.105 million yuan of financial assistance through the procurement of fixed assets from March 2022 to March 2023.

In this regard, the Shenzhen Stock Exchange requires the ship to intelligently explain the specific process of the large amount of other accounts receivable formed as a result of the project payment, and whether the large transaction has a commercial essence, and whether the relevant money eventually flows to the actual controller or other related parties. Whether there is a situation in which funds are occupied by related parties, whether they constitute illegal external financial assistance, and so on.

Moreover, the Shenzhen Stock Exchange also requires annual audit accountants to verify and express clear opinions on the above-mentioned related matters; in the light of the audit procedures implemented and the audit evidence obtained, explain whether the relevant defects affect the effectiveness of the internal control of the company's financial reports, and the appropriateness and prudence of the types of audit opinions issued by internal control audit reports.

Previously, the board of directors of giant ship shares believed that "the above matters will not affect the effectiveness of the internal control of the company's financial reporting."

In the internal audit report, the audit opinion issued by the accounting firm on internal control of financial reporting is that Giant Wheel Intelligence "maintains effective internal control of financial reporting in all significant aspects."

Is there any misappropriation of funds from fictitious assets?

According to the annual report, the book value of the project under construction in 2023 is 408 million yuan, the book balance of prepaid account is 145 million yuan, the book value of other non-current assets is 348 million yuan, and other non-current assets are mainly prepaid project and equipment payments.

In this regard, the Shenzhen Stock Exchange asked the giant ship to state intelligently:

The occurrence time and amount, background and transaction arrangement, counterparty name, relationship, estimated completion time of related projects in the past three years, whether it is in line with industry practice, whether there is a long-term payment in advance but no settlement of equipment and projects has been received;

Combined with the situation of comparable companies in the same industry, the strategic planning of the company, the change of gross profit margin, product orders, etc., this paper explains the necessity and rationality of greatly expanding plant and equipment under the current development of the industry and the company.

Explain year by year the situation of the top 10 suppliers of the transaction amount of projects under construction in the past three years, including the name, transaction content, transaction amount and settlement, whether they are related parties and potential related parties, whether there is misappropriation of funds from fictitious assets, whether there are violations of foreign financial assistance.

In addition, the annual report also shows that Giant Wheel Intelligence's long-term equity investment in the associated enterprise OPS-INGERSOLL Holding GmbH (hereinafter referred to as "OPS") in 2023 has an initial book value of 47.2606 million yuan and a final book value of 36.9184 million yuan, with a cumulative impairment of 57.9092 million yuan. The company holds 66.15% of OPS's shares and voting rights, but is not included in the consolidated statement.

In this regard, the Shenzhen Stock Exchange requires Giant Wheeler to intelligently explain whether the company's investment and the specific flow of relevant funds, the main assets formed and the current state, and whether the funds eventually flow to the controlling shareholders and other related parties since the investment in OPS; explain the reason and rationality for the company to hold 66.15% of its equity but not include it in the scope of consolidated statements, and whether it conforms to the relevant provisions of the Accounting Standards for Enterprises.