China Net Finance, June 22 (Reporter Ye Qiandan Shengqun) On June 20, Baosheng (600973.SH) announced that it received a warning letter from the Jiangsu Securities Regulatory Bureau of the China Securities Regulatory Commission.
On February 22, 2022, Pou Sheng disclosed the pre-loss announcement of its annual performance in 2021, with an estimated net profit loss of 500 million to 700 million yuan, and an estimated net profit loss of 600 million to 800 million yuan attributable to the parent.On March 15, 2022, Baosheng disclosed its annual report, and the net profit attributable to the parent in 2021 was -763 million yuan.Jiangsu Securities Regulatory Bureau pointed out in the warning letter that when Baosheng Co., Ltd. expected a negative net profit, it did not make a notice within one month after the end of the fiscal year as required.
The Jiangsu Securities Regulatory Bureau determined that the above-mentioned behavior of Baosheng shares violated the provisions of Article 17 of the "Administrative Measures for Information Disclosure of Listed Companies".According to the provisions of Article 52 of the "Administrative Measures for Information Disclosure of Listed Companies", the Jiangsu Securities Regulatory Bureau has decided to take administrative supervision measures of issuing a warning letter to Baosheng, and record it in the integrity file of the securities and futures market.
The annual report data shows that in 2021, Baosheng Co., Ltd. achieved revenue of 42.878 billion yuan, a year-on-year increase of 25.07%; realized net profit attributable to the parent of -763 million yuan, a year-on-year decrease of 435.91%; realized non-returned net profit of -794 million yuan, a year-on-year decrease 590.81%.
The reporter noticed that the loss in 2021 is nearly 800 million yuan, which is the first loss in the 18 years since Baosheng's listing, and almost lost the total net profit of the past five years.
In the annual report, Baosheng explained the reason for the loss in 2021 performance as: the company received commercial acceptance bills issued by customers in the process of providing wire and cable business services to customers. Therefore, the company has accrued a credit impairment loss of 1.294 billion yuan for customer receivables.
As of the end of 2021, Baosheng's bills receivable balance was 791 million yuan and accounts receivable balance was 4.728 billion yuan, with a total of 5.519 billion yuan.
