Compared with the balance sheet, it is found that the balance of two special items of the company has changed greatly.
First, the advance payment has more than doubled from 654.38+38 million yuan in 20 19 to 282 million yuan in 2020.
Two. Other receivables increased from RMB1922 million in 20 19 to RMB 542 million in 2020, an increase of more than 30 times.
In the absence of essential changes in business model and income structure, great changes in prepayments and other receivables often indicate that the company may have risks, especially the suspicion of interest transfer.
Generally speaking, the sudden increase of prepayments and other receivables may be to convey benefits to substantial related parties, such as Hong Zhong shares that have been delisted. Before the storm, after paying hundreds of millions of yuan in advance to two leather bag companies, the chairman lost contact.
Other receivables of the company mainly come from verifiable futures companies, and the risk of interest transfer is relatively small. However, futures itself is a high-risk financial business. A well-known listed central enterprise once triggered a "black swan" in the market due to futures losses, which also requires vigilance.
The company's advance payment is somewhat mysterious. After the company injected into the oil business of Liang Jing Group, there is no doubt that the grain and oil system should be the company's largest raw material supplier. This is the case from 20 17 to 20 19. The suppliers with large prepayment balance are China Grain Storage and its branches, but by 2020, the largest prepayment supplier of the company has become a company registered in Hong Kong: Hong Kong Yuheng Industrial Co., Ltd.
Mysterious supplier: Hong Kong Yuheng Industrial Company. According to the annual report, among the company's prepayments, the balance of Hong Kong Yuheng Industrial Company reached 265,438+0,654,380 billion yuan, accounting for about 75% of all prepayments.
Sharp-eyed found this Hong Kong company mysterious. It happened to be registered on 20 17, and has almost no business in Chinese mainland. Only invested in a wholly-owned subsidiary in Shenzhen, called Shenzhen Yuheng Industrial Company, which deals in the wholesale of computer products, electronic components, communication products, electronic products and monitors.
Shenzhen Yuheng Industrial Company has almost no specific business, much like a leather bag company. According to Tianyancha, there are as many as 560 companies under the registered telephone number of the company.
Among them, at the same registered address as the company, there is a company with a registered capital of only 6.5438+0.2 million yuan, named Buji Huaguang Science and Technology Electronics Factory in Longgang District, Shenzhen. The major shareholder of the electronics factory is Shenzhen Venture Capital, and Zhong Lian, vice president of Shenzhen Venture Capital, is the manager of Beijing Venture Capital, which is one of the shareholders of Liang Jing Holdings.
Through the in-depth analysis of equity, we can draw a conclusion that Hong Kong Yuheng Industrial Company is inextricably linked with Liang Jing Holdings, not an ordinary supplier and customer. Therefore, it is necessary to disclose more detailed information to investors, and whether there is interest transfer behind this bizarre huge advance payment.
Unreasonable income composition:
Among the revenue of 8.742 billion yuan, the oil business was 7.766 billion yuan, accounting for 89.22%; The food processing business was 898 million yuan, accounting for10.27%; Other business is more than 44 million yuan.
At first glance, the company's oil business is the absolute main force of the company's performance, but from the perspective of operating profit, the profit brought by the company's food processing business accounts for more than 40%.
Interface news-Liang Jing Holdings, from delisting to strategic transformation