Original title: Lai Shen Tong Ling was required to disclose the status of franchisees and suppliers
Every time reporter Huang Xinlei has more articles than every editor
A few days ago, Lai Shen Tong Ling (603900, SH; the previous closing price of 8.39 yuan) announced that it had received the information disclosure regulatory inquiry letter for the 2020 annual report. The Shanghai Stock Exchange conducted a post-mortem review of the company’s 2020 annual report and related announcements and requested the company to further Explain and supplement the disclosed information.
Among them, the “Inquiry Letter” requires Lai Shen Tong Ling to disclose whether there is a buyout sale between the company and the franchisee, whether the franchisee has the right to request returns and exchanges; the names of the top five suppliers, the purchase period, and whether it is the reporting period New items, purchase amount, proportion, and year-on-year changes.
Never disclosed specific information
According to the annual report, last year, Laishan Tongling mainly sold diamonds, jadeite and other jewelry, and the sales model was mainly divided into direct sales and franchise. Among them, the revenue recognition time of the franchise model is that the goods have been delivered to the customer and the customer has signed for confirmation. During the reporting period, this model achieved operating revenue of 176 million yuan.
The “Inquiry” requires Lai Shen to disclose: whether it is a buyout sale with the franchisee, and whether the franchisee has the right to request a return or exchange. If so, list the return and exchange amount in the last three years, the reason, and the corresponding Revenue recognition and reversal status; follow-up processing status of returned goods, and whether the provision for falling prices of relevant inventories is adequate.
The 2020 annual report also disclosed that the purchase amount of the top five suppliers of Lai Shen Tong Ling was 133 million yuan, accounting for 52.50% of the total annual purchase. Among the top five suppliers, the purchase amount of related parties was 0.
The “Inquiry Letter” stated that as a diamond jewellery retail company, Lai Shen Tong Ling has a high degree of procurement concentration, and requires the company to supplement the disclosure: the names of the top five suppliers, the purchase period, whether they are new in the reporting period, the purchase amount, Proportion and year-on-year changes; the reason for the higher concentration of procurement is whether there is a greater degree of dependence on specific suppliers.
A reporter from “Daily Business News” looked through the announcements over the years and found that since its listing in 2016, Lai Shen Tong Ling had never disclosed detailed supplier information in its annual report. From 2016 to 2019, the company’s purchases from the top five suppliers were 779 million yuan, 597 million yuan, 428 million yuan, and 398 million yuan.
Previously received a supervisory work letter
“Daily Economic News” once reported that Lai Shen Tongling conducted a comprehensive self-examination of the capital occupation of the controlling shareholder and its related parties, and verified the time, method, and amount of capital occupation. The results of the self-examination were: the company’s controlling shareholder, actual controller, and chairman Shen Dongjun had occupied 14404,100 yuan of funds in total.
Among them, in April 2017 and September 2017, Laishan Psychic passed through Anhui Jiasde Human Resources Development Co., Ltd. (hereinafter referred to as Jiasde) in the form of personnel agency fees for Shen Dongjun to advance 493,900 yuan and 335,900 yuan respectively. A total of 829,700 yuan; In August 2017 and February 2018, Lai Shen Tong Ling through Jiashide in the form of personnel agency fees and labor fees respectively paid RMB 480,000 to Shen Dongjun in advances of RMB 480,000 and RMB 2,790,100, for a total of RMB 3,270,100; December 2019 In May, Lai Shen Psychic advanced Shen Dongjun’s promotion and research expenses of 3.4032 million yuan, technical and consulting service fees of 4.832 million yuan, a total of 8.23557 million yuan.
In addition, in 2019 and previous years, Lai Shen Tong Ling assumed a total of 1,668,600 personal non-performance related expenses on behalf of Shen Dongjun through daily expense reimbursement. Shen Dongjun has returned all the occupied funds to the company before March 24, 2021.
On April 30, Lai Shen Tong Ling announced that listed companies, controlling shareholders and actual controllers “clearly clarify regulatory requirements for the actual controller’s capital occupation” received a supervisory work letter.
The 2020 annual report disclosed that the ending balance of other receivables of Lai Shen Tong Ling was 35,950,700 yuan, including the balance of 5.3198 million yuan receivable from Shen Dongjun’s non-operating funds, and the opening balance was 14,041 million yuan; the deposit and deposit were 29,599,000 yuan, and the opening balance 26,549,400 yuan. At the same time, four of the top five owing parties are in nature of deposits and security deposits, and two of them are owed with an age of more than 5 years.
The “Inquiry Letter” requires Lai Shen Tong Ling to further disclose: the business background, age distribution, main receivable objects and whether there is an associated relationship with the company for the above-mentioned deposit and deposit; for the long-term uncollected arrears, explain the specific reasons And reasonableness, whether the relevant bad debt provisions are adequate; whether the actual controller and related parties have other non-operating capital occupation, illegal guarantees, etc., infringing on the interests of the listed company.
The above-mentioned two companies with debts aging over 5 years are Jiangsu Jiaoqiaohe Pedestrian Street Commercial Management Co., Ltd. and Shanghai Huaihai Commercial (Group) Co., Ltd. The equity penetration of Qixinbao shows that they are between them and Lai Shen. There is no direct equity connection, part-time positions of directors, supervisors and senior executives.