Source: e Company
At the critical moment of the 2023 annual audit, st Guiren (Guirenniao Co., Ltd., stock code: 603555) admitted to having related relationships with multiple grain suppliers. company disclosed on the evening of January 19 that its chairman Li Zhihua indirectly holds the equity of four companies including Heilongjiang Chengyun Liangyi Corn Buying and Sales Co., Ltd. (hereinafter referred to as "Chengyun Liangyi"). These four companies and their holding subsidiaries There is a business partnership. According to relevant regulations, the four companies are related parties of the company.
A reporter from Securities Times·E Company noticed that in the past three years, the total transaction volume between the above four companies and st noble people was nearly 880 million yuan, of which the transaction volume in 2022 reached 735 million yuan, which is the transformation of listed companies from "shoes" An important support for the transformation of "services" and "grain trade". In April last year, Daxin Accounting Firm (Special General Partnership) (hereinafter referred to as "Daxin Firm") raised high doubts about the relationship between St. Guiren and these grain traders. However, the listed company denied it at the time.
The grain supplier is actually a related party of the company
According to st Guiren's announcement, its holding subsidiaries are related to Chengyun Liangyi, Longjiang Yueshengli Grain Co., Ltd. (hereinafter referred to as "Yueshengli"), Gannan County Yuhong Grain Purchase and Sales Co., Ltd. The company (hereinafter referred to as "Yuhong") has a business cooperative relationship with Qiqihar Rongding Grain Co., Ltd. (hereinafter referred to as "Rongding"). Li Zhihua, chairman of the listed company, indirectly holds these four companies. According to the "Shanghai Stock Exchange Stock Listing Rules", the four companies are related parties of the listed company.
Specifically, from 2021 to 2023, the amount of grain products purchased by st Guiren Holdings subsidiaries from 4 companies including Chengyun Liangyi was 24.013 million yuan, 735 million yuan, and 121 million yuan respectively, accounting for 10% of the company’s operating income in the previous year. The audited proportions of net assets attributable to shareholders of the superior company were 233.27%, 40.26%, and 7.10% respectively.
st Guijie is the first A-share sports brand, and its original main business was "sports shoes and clothing". In 2021, Mr. St established Shanghai Mi Chenglai Trading Co., Ltd. (which has been renamed Jinhe Mi Chenglai Agriculture (Shanghai) Co., Ltd., hereinafter referred to as "Jinhe Mi Chenglai"). Jinhe Mi Chenglai mainly wholesaled soybeans, corn and other agricultural and sideline products, and St. Guiren became involved in the grain business.
In 2021, the grain trading business of listed companies achieved revenue of 246 million yuan, accounting for 17% of total revenue.
stThe noble man has a special background in getting involved in the grain business. In June 2021, Heilongjiang Taifu Jingu Network Technology Co., Ltd. (hereinafter referred to as "Taifu Jingu") participated in the reorganization of ST Guiren and obtained 320 million shares of the company, becoming the company's second largest shareholder. Li Zhihua, the actual controller of Taifu Jingu, has investment plans in the field of grain trade.
In July 2022, Taifu Jingu and Li Zhihua passively became the controlling shareholder and actual controller of st Guiren respectively. Taifu Golden Valley stated at the time that it planned to further increase the listed company's grain trading business and develop rice processing business in the next 12 months.
In 2022, st Guiren's grain business revenue has indeed increased significantly, achieving revenue of 1.066 billion yuan for the year, accounting for 50.57% of the company's total revenue.
The relevance has been highly questioned by accountants
It is worth mentioning that in April 2023, Daxin Institute issued a qualified audit report on st Guiren's 2022 financial report.
Daxin pointed out that st Guiren’s corn trading business will recognize revenue of 668 million yuan in 2022. The corn trade is purchased from traders such as Chengyun Liangyi, Yueshengli, and Rongding, and both upstream and downstream are traders. Daxin said it was unable to track and obtain evidence of corn trading warehousing and final physical transfers. "We are unable to judge the commercial nature of the corn trading business and the possible impact on related items in the financial statements."
At that time, Daxin Institute provided a lot of "evidence". It said that in 2022, st Guiren borrowed a total of 287 million yuan from Qiqihar Shunran Industrial Co., Ltd. (hereinafter referred to as "Shunran Industrial"), which was returned at the end of the period. There are no mortgages or pledges for these loans, and no interest rates are agreed upon. Daxin Institute’s verification found that before January 2018, the legal representative of Shunran Industrial was the director and deputy general manager of St. Guiren, and he was also the son-in-law of the actual controller of St. Guiren. In addition, the supervisor of Shunran Industrial is the legal representative of Yueshengli, and the legal representative of Chengyun Liangyi is the supervisor of Yueshengli.
"(We) were unable to obtain sufficient and appropriate evidence of the reasonableness of the unsecured and interest-free fund lending, as well as whether there is a related party relationship between your company and the above-mentioned units, and we were unable to judge the completeness of your company's related party relationships and transaction disclosures. ." Daxin expressed.
Regarding Daxin’s doubts, St. Guiren said at the time that the company’s corn trading business was real and the company had fully cooperated with the accountants to obtain audit evidence. The company still needs to further communicate with the upstream and downstream to obtain or verify the corn trade warehousing and final physical transfer evidence mentioned by the accountant. At the same time, the company made it clear that after preliminary verification, Shunran Industrial and the company's corn trading business suppliers are not related parties of the company, and the company's transactions with the corn trading suppliers mentioned in the reserved opinion are not related transactions. A note from Daxin Exchange issued by
st Guiren in August 2023 shows that Daxin Exchange also stated that during its verification, the downstream customers of the listed company’s corn trading business were unwilling to cooperate with the implementation of further extended verification procedures, resulting in its inability to judge. Completeness of disclosure of related party relationships and transactions of listed companies.
st It is unknown to the outside world why the noble man "changed his tune" about the relationship between Chengyun Liangyi and others. In September last year, the company announced that it would change the 2023 annual review agency to Zhongxinghua Accounting Firm (Special General Partnership).
html On January 18, st Guiren stated on the interactive platform that the company’s annual audit work was in progress. According to relevant regulations, if a company's financial accounting report for the most recent fiscal year is issued an audit report that expresses no opinion or a negative opinion, it will be "*st", but it will not be terminated from listing.