In fact, on the evening of 65438+February 1 day, Guolian shares just replied to the inquiry letter of the Shanghai Stock Exchange, and denied the relevant questions from the outside world through a 34-page announcement.
"According to the requirements of the inquiry letter, the company has carefully checked the financing trade, abnormal per capita income generation and the use of raised funds reported by the media in combination with its own business model, confirming that the above matters are not true, and the relevant information disclosure in the early stage is true, accurate and complete in all major aspects." Guolian shares reply.
Guolian shares can be called "super bull stocks". The income of 20 15 is only 200 million yuan, and the net profit is only120 thousand yuan. In 20021year, the operating income of Guolian shares reached 37.2 billion yuan and the net profit reached 578 million yuan. In terms of stock price, Guolian was listed in July 20 19. In less than four years, its share price rose from 5.74 yuan/share to 13 1.75 yuan/share, and its market value climbed from 3 billion yuan to 65 billion yuan, an increase of more than 20 times.
Denying and questioning
Convene an investor exchange meeting urgently
In reply, Guolian shares first introduced their own business model.
Guolian Co., Ltd. said that the company is positioned in B2B e-commerce and industrial Internet platform, based on industrial e-commerce and supported by Internet big data, and provides online commodity trading (industrial e-commerce), business information services and Internet technical services for customers in related industries.
Among them, online commodity trading of industrial products and raw materials (industrial e-commerce) is the main business of Guolian shares. Specifically, Guolian Co., Ltd. opened online self-operated shopping malls through a number of platforms to carry out e-commerce sales of industrial products in the industrial chains of coating chemicals, glass, sanitary products, paper, fertilizer, grain and oil, that is, directly purchasing goods from registered suppliers and selling goods to registered users through online self-operated shopping malls.
Whether there is financing trade has become a key issue.
The so-called "financing trade" refers to all parties involved in trade, relying on property rights such as cargo rights and accounts receivable in the process of value exchange of goods and services, and comprehensively using various trade means, financial instruments and guarantee tools to obtain short-term financing or increase credit holdings, thus increasing the cash flow of trade subjects.
In this regard, Guolian shares said that the company's turnover rate is good. For most customers, there is no situation of providing funds to upstream and downstream counterparties or a certain period of credit in financing trade. At the same time, through self-examination, in the transactions with the top ten customers and suppliers in the last two years and the first phase, there is no case that the customers and suppliers are the same party or related party in the same transaction, and there is no financing transaction between the company and them.
In addition, Guolian said that the per capita income level of listed companies is in a reasonable range, which is still lower than that of comparable companies in the same industry; The growth of the number of employees in the company matches the growth of operating income, and there is no abnormal high per capita income.
In order to facilitate investors to fully and deeply understand the specific matters of the company's reply to the inquiry letter, Guolian shares announced that an investor exchange meeting would be held on the evening of 65438+February 1.
This 34-page announcement answers four main questions.
Based on the relevant questions from the outside world and the inquiry letter from the Shanghai Stock Exchange, Guolian shares mainly encountered four problems before, and Guolian shares responded one by one through a 34-page announcement.
1. Is there any financing transaction to boost the explosive growth of performance?
The outside world questioned:
Guolian shares disclosed that in 2020, the transaction amount with Zhao Yi Huasheng, a subsidiary of Yili Jieneng, was 373 million yuan. According to Yili Jieneng's annual report, the purchase amount of Guolian shares was only 30,654.38 billion yuan, which was inconsistent with the disclosed transaction amount.
At the same time, Guolian Co., Ltd. and Yilijie Neng have a common state-owned enterprise customer-Dongyue Feida, and Dongyue Feida is also a customer and supplier of Guolian Co., Ltd. Is Dongyue Feida a fund provider in the financing trade of Guolian Co., Ltd.?
Company response:
In 2020, the cumulative transaction amount between Zhao Yi Huasheng and Tudodo was 373 million yuan, of which the transaction amount between Zhao Yi Huasheng and Beijing Tudodo E-Commerce Co., Ltd. was 30 1 10,000 yuan, and the transaction amount of Ningbo Dingchuang Taihua New Materials Co., Ltd. (a subsidiary of Tudodo) was 72 million yuan. The transaction amount disclosed in the annual report of Guolian shares is consolidated, and Yili Jieneng only disclosed the amount of Beijing Tuduoduo E-Commerce Co., Ltd. There is no difference in the above transaction data, but the disclosure caliber is inconsistent.
There is no financing transaction between the Company and Zhao Yi Huasheng and Dongyue Feida, and there is no financing transaction between the Company and customers and suppliers. The company's business processes and business logic are clear, and business information services, industrial e-commerce and digital technology services have a reasonable business background.
Second, why is the income per capita so huge?
The outside world questioned:
According to the disclosure and calculation of previous annual reports, the per capita income of Guolian shares rose sharply from 6,543,800 yuan in 2065.438+03,758 yuan in 2006 to 36,535,600 yuan in 2026.5438+0. Among them, Ningbo Lianghe Youduoduo E-Commerce Co., Ltd., a subsidiary of Guolian Co., Ltd., has only four employees, but in 20021year, it was able to create more than 2.5 billion yuan in income, with a per capita income of 625 million yuan.
Company response:
Different from C-end consumer goods market, B-end industrial raw material market is a market with accurate flow logic. For the limited customers of upstream and downstream enterprises, the familiarity between enterprises is high, so it is easy to form word-of-mouth communication effect. In addition, the company has been deeply cultivating the popularity and influence of the industry for a long time, and does not need to invest more marketing personnel, so the cost of innovation and transformation is low.
The company's per capita income level is in a reasonable range, still lower than that of steel and silver e-commerce in Ouye Shangyun and Shanghai Steel Union. The growth of employees in the company matches the growth of operating income, and there is no abnormality in per capita income.
Third, why do you keep raising money when there is little demand for funds?
The outside world questioned:
In 20 19, the company raised 533 million yuan for the first time, and will raise 24160,000 yuan for the second time in 2020. By the end of the third quarter of 2022, the balance of monetary funds was 6.29 billion yuan. Although the company's capital demand is not great, it still keeps financing. Where will the final funds be used?
Company response:
The company's monetary fund balance at the end of the period is relatively high, which is mainly affected by non-public offering funds and payment methods. Excluding the above factors, the balance of monetary funds at the end of the period was 65.438+33.6 million yuan, which matched the business scale of the company.
4. Does the advance payment match the advance payment?
The outside world questioned:
The advance payment of Guolian shares rose from 284 million yuan in 20 17 to the latest 3.334 billion yuan, and the advance payment also increased synchronously with its advance payment. The ratio of advance payment to advance payment of 202 1 exceeds 2.
Company response:
The company publishes and sells all kinds of industrial raw materials and products to customers through multiple platforms. Registered users can place orders and pay part of the deposit through multi-platform platforms, and the company issues purchase orders to upstream suppliers according to the types and quantities of products required by downstream customers. In order to lock in the supply and ensure the supply, the company will pay a certain advance payment to the upstream suppliers. Furthermore, in the above centralized procurement process, the company will form an advance payment received from downstream customers and an advance payment paid to upstream suppliers. To sum up, there is no related party transaction that harms the interests of the company.
The actual controller Dong He quickly increased his holdings.
The third quarterly report shows that there are many star institutions in the League of Nations.
At the end of the third quarter of 2022, Guangfa Technology Pioneer, Guangfa Small-cap Growth, Guangfa Twin-engine Upgrade and Guangfa Innovation Upgrade all took Guolian as the heavyweight stock, and the four products were ranked as the fourth, fifth, sixth and seventh largest shareholders of Guolian, accounting for 7.79% of the total share capital of Guolian.
According to the third quarterly report, Bank of Communications Schroeder's new growth hybrid securities investment fund holds 0.63% of the shares of Guolian/KLOC-0.
After being questioned by the outside world, Guolian shares lightning released the relevant increase plan.
165438+1On October 29th, the League of Nations announced that the company had received the controlling shareholder and actual controller Liu Quan and Qian Xiaojun, as well as the director and chief financial officer Tian Tao, director and secretary of the board, director and CEO Liu of Tuduo, Wang Ting, co-founder of Widodo (Grain and Oil), director and deputy general manager Liu Yuan, and supervisor.
The above-mentioned relevant persons intend to increase their holdings of Guolian shares through the ways allowed by the trading system of Shanghai Stock Exchange (including but not limited to centralized bidding, block trading, agreement transfer, etc.). ) Within six months from 165438+20221October 29th, and the amount to be increased is not less than 50.2 million yuan and not more than1040,000 yuan.
Previously, the controlling shareholders and actual controllers of Guolian, Liu Quan, Qian Xiaojun and their concerted actions held 34.94% of the shares of Guolian.
This time, Liu Quan and Qian Xiaojun plan to increase their capital by no less than 20 million yuan and no more than 40 million yuan.
On the evening of February 2, 65438, the League of Nations announced that Liu Quan and Qian Xiaojun began to increase their holdings. After the increase, Liu Quan, Qian Xiaojun and their concerted actions held 34.98% of the shares of Guolian.
What is the truth behind the market questioning? It remains to be seen.
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