Diligent shares, bamboo baskets

Home > Finance

Diligent shares, bamboo baskets

2022-01-28 12:07:05 33 ℃

When the year is approaching, a performance forecast for the shares on the shares has added some blockage to the small and medium shareholders.

In the announcement, Qin Shangxuan is expected to be 700 million yuan to 820 million yuan in the shareholders of listed companies, and the same period is 45,187,900 yuan in the same period last year.

Such a large amount of loss, a stone aroused a thousand waves. As for the reasons, it is diligently pointing to Longwen Education.

Compulsory education discipline counseling has become an educational business in the diligence? Relying on the education business to turn over the bubble, where is the next step?

No more than 800 million in the year, Qiqin: Main weird dragon!

According to the results of the performance, the reporting period is expected to revenue 900 million yuan to 1.1 billion yuan in the report period, and the same period of 2020 achieved 995 million yuan, which is expected to change -9.59% to 10.5%.

In terms of profits, Qin Shares expects the net loss of 700 million yuan to 820 million yuan in the shareholders of listed companies, and the same period is 45.187,900 yuan in the same period last year, and it is expected to be profitable.

The deduction of net profit is expected to lose 730 million yuan to 850 million yuan. The same period last year is 11.6 billion yuan, and the loss is expected to expand 527.37% to 630.5%.

The reason why the performance is expected to expect huge amounts, and the on-shares seem to be "habitual" to point to the subsidiary Longwen Education.

Diligent shares, during the reporting period, the dual influence of the epidemic and "Double Reduction" policy, the overall operation of the wholly-owned subsidiary Guangzhou Longwen Education has produced a major adverse effect, affecting the profits of this issue. In addition, the company's semiconductor lighting business is fierce market competition, raw material prices and labor costs, resulting in the decline in gross profit margin of company products, affecting this profit. The US dollar exchange rate fluctuations RMB appreciation caused increases the increase in exchanges and has a large impact on this profit.

It is worth noting that in this performance notice, Qin Shares also announced the decision to further goodwill of Longwen Education.

Diligent shares said that the actual business situation and industry policy changes are based on the principle of cautiousness. After preliminary, 2021 expected value-for-the-precautionary preparation for the acquisition of Longwen education is about 443 million yuan.

Diligent shares also emphasized that the company's wholly-owned subsidiary Longwen Education of the company's foreign investment, Guangzhou Rod Sports and Guangzhou Longwen Education Consulting Co., Ltd. have not been able to fulfill its relevant obligations as scheduled as scheduled in accordance with the equity investment agreement. Long Wen Education filed a contract dispatcher to the court, and Liu Hong, a pole sports, Guangzhou Ziji Investment Management Co., Ltd.

At present, the rod sports have been implemented by the court, and the Guangzhou 壹 玖 has been included in the company's operation unusual list, so the company judges that there is a major uncertainty in the implementation capability of this litigation, based on the principle of cautious principles, the company intends to involve The Joint Your Rod Sports and Longwen Education Advisory Measures For the long-term equity investment impairment is 57.555 million.

Mutual suspect, with Lin bird or will it fly?

This is not the first time to announce the impairment of Longwen Education for the first time.

In this day, Qi Qi Shares have been in 2016, 2018, in the third quarter of 2021, three times to the acquisition of Longwen Education, with respect to the impairment of 460 million yuan, 1.088 billion yuan, 249 million yuan.

Calculate the 443 million 商 减 impairment preparation for this account. In 2016, the company has not been formed by 1995 million yuan of goodwill when the 100% equity of Longwen Education is completed.

It is also a pair of "true love couptes" that is paying attention to in diligent shares and Longwen education.

Diligent shares are Dongguan Qin Shangshi Hardware & Plastic Products Co., Ltd., in December 2011, in the Shenjiao SMB, became the first listed company in LED lighting as the main business of LED lighting.

With the big tide of the A-share two main business, in 2016, Qiqiao Shares also started planning education industries, main semiconductor and education and training dual main industry layout.

In 2016, Qi Quan Shares acquired 100% equity equity, Yinglun Education, paying cash, capital, and capital, Ying Ying Education 40% equity, irregular education 10% equity, Siqi Education 10% equity, 杆 Sports 30 % Equity and Liuzhou small red cap. At the end of 2016, it was an announcement of Hao Range of $ 2.9 billion to acquire End of Eddy Education 100%. Even after half a year in 2017, it was still announced by 140 million yuan to hold Warton style.

After the total cost, after nearly 7 billion yuan, Qiqiao Shares have a number of education industries such as preschool education, K12, international education and vocational training.

Among them, the highest payment is to acquire Longwen Education.

In January 2016, Diligent Shares announced the capital of 2 billion yuan by issuing stock prices and paying cash, and high premium acquisition of 100% equity equity in Longwen Education. According to the evaluation report at the time, the net assets of Longwen education were -066 million yuan, and the value of the assessment of the income method was 2014 million yuan, and the net asset assessment of the same caliber was increased to 208 billion yuan. The rate is as high as 3151.52%.

In order to "return" such a high premium, Longwen Education has signed a gambling agreement, agreement, and Longwen Education Commitment in 2015 - 2018, the net profit is not less than 564 million yuan, otherwise Long Wen The original shareholder will compensate in cash, and the compensation amount is consistently limited to 2 times the promise performance.

But the oath of the oath was constantly disappointing. In 2015 - 2018, Longwen Education totaled 295 million yuan, compared with the promise of no less than 564 million yuan, only halfway. Given such a score, Qiqiao's shares cannot be accepted, and in the 2018 financial news, it is preparation for the 1088 million yuan of goodwill impairment. Ruihua, the long-term education auditing agency, is unrecognizable, it pointed out that the management of the management of the company's management failed to provide the critical parameters of the asset group that produces goodwill, the accuracy and appropriateness of the critical parameters of the recoverable amount assessment. Evidence, therefore unable to determine the accuracy of the payment of goodwill of goodwill, the end of the company's period, and cannot determine if there is a need for adjustment for the preparation of the credits of goodwill, and the 2018 annual report is issued. Tag rate report.

At this point, Long Wen Education and the contradiction between the diligence shares completely broke out. After the Book Hall, in August 2018, Yang Yong, founder Yang Yong, founder of Longwen Education, was confounded by judicial freezing. In subsequent lawsuits, Qiqiao Shares requested Yang Yong to pay 240 million yuan of performance margins to get the commitment of Yang Yong. However, Yang Yong is still prosecuted by Dilisted Shares because he did not pay in the predetermined period.

Both sides play to 2019, there is a turn, on September 19, 2019, Diligent Shares claims to be rejected by the court and undertake 1240 case acceptance fee. On September 27th, Qiqiao Shares once again prosecuted Yang Yong and other defendants to fulfill their stock compensation obligations, paying cash compensation. But there is no latest progress.

Long, the past disputes have also made the performance of Longwen education further decline, and the shares on the shares also received a regulatory concern for many times because of the issuance of the annual report.

On January 5 this year, Qin Shares released the risk warning announcement on implementing the "Double Reduction" limit initiative on the influence of rising subsidiaries of Longwen education, in view of the economic income and profit specific gravity of Longwen Education, has exceeded 50 %, Policy changes in education and training industry will have a large impact on Longwen Education and the overall business situation of the company.

The announcement also pointed out that as of September 30, 2021, the company's acquisition of the goodwill of the formation of Longwen Education was 194 million yuan, and the remaining part of the probability of goodwill has some or full impairment possibilities, and finally reduced The value is subject to the audit results of the company's 2021 annual review.

According to the disclosed data, it is affected by the epidemic. As of June 2021, Long Wen Education is all closed in Guangzhou and Foshan, and the announcement issued by Diligent Shares shows "temporarily unable to expect recovery time." At present, the survival of Longwen Education is harder.

Cutting this piece of dragon, can you fly a sky?

In the eyes of small shareholders in Qilian Shares, the discipline training business, which peels off the dragon education, has become an inevitable trend.

There is media report. Since 2020, investors have called, and I hope that I want to work on the shares to peel the dragon education. The investor said that since the acquisition of Longwen education, the disaster is constant, the stock price fell. There are also industry insiders that the compulsory education and training business is stripping the listed company system is the policy direction, even if this business stays in the listed company, the meaning is not large.

So, cut off the meat of Long Wen, can you fly a sky?

For future development, Qin Shares have said that the company's semiconductor lighting field is huge, of which the semiconductor lighting field is a carrier, and the smart city solution to achieve a multi-pool will be an important trend. The company will actively seize the opportunity to continue to deep, precipitate, and strive to become a strong brand in China's smart city.

In fact, this vision wants to achieve is not simple.

First of all, from the financial report, the third quarter of 2018 - 2021, Diligent Shares achieved a revenue of 1298 million yuan, $ 1.995 million and 887 million yuan, a year-on-year growth rate of -19.35%, - 3.47 %, - 20.53% and 24.77%.

Among them, in the first half of 2018 - In the first half of 2021, the education and training business achieved a revenue of 691 million yuan, 637 million yuan, 499 million yuan and 341 million yuan, and the proportion of occupancy is 53.24%, 50.84%, 50.15%, 38.44%, respectively. The semiconductor lighting application business achieved $ 607 million, 616 million yuan, 496 million yuan and 298 million yuan, and 46.76%, 49.16%, 49.85%, 33.60%, respectively.

It can be seen that the proportion of semiconductor lighting application business revenue does not have a education business.

From the profits, the third quarter of 2018 - 2021, the net profit of Diligent Shares was -1249 billion yuan, -373 million yuan, 451.87 million yuan and -347 billion yuan, the year-on-year growth rate is -1583.33 %, 70.15%, 112.12% and -1662.28%. This also reflects the dilemma of its profitability to some extent.

In addition, even if the education business is peeled off, the on-shares must be supervised.

In mid-January this year, due to the implementation of the disclosure of the company's light illumination large-scale trust funds, Qiqian Shares received the supervision letter issued by the Shenzhen Exchange.

After the supervisory letters show that the original shared wholly-owned subsidiary of the original shares, the on-shares still have a greater impact on the operation, finance, etc. of the lighting lighting, and should be identified as the related party. However, Qin Shares did not recognize the lighting lighting as a related party in December 2019, and the relevant interim reports and regular reports disclosed were inaccurate and incomplete. In addition, Light Lighting November 16, 2018 and Xiamen International Bank signed a commissioned loan cooperation agreement, agreed that Luminous lighting will save 50 million yuan in Xiamen International Bank, and entrust it to issue commissioned loans to Diligent Shares, and related matters Transaction, but Diligent Shares did not disclose the commissioned loan agreement in 2019 and 2020, and did not disclose other payables for Luminous lighting on Luminous lighting at the end of 2019 at the announcement of June 30, 2020.

At the same time, the Shenzhen Contest also pointed out that on April 30, 2021, Diligent Shares had disclosed that Light illumination purchased 400 million yuan to the national trust in December 2019, the investment scope is deposit, bond and other credit assets. However, the relevant trust contracts signed by Luoguang Lighting clearly agreed that the national trust issued trust loans to Dongguan 4 companies in accordance with the willingness of the principal's lighting, and the risks and losses caused by Luoguang lighting. The above trust loan is ultimately used to increase the increasing capital of Light lighting, but Diligent Shares did not disclose the large-scale trust funding of Light Lighting.

Up to now, Qiqiao Shares did not respond to the above problems.

The education business representative represented by Longwen Education has not returned to a single main business, and the diligent shares seem to have fallen into the situation that is difficult, and the original luxury, and now a fluff in one place.

How will it develop in the future? Whether the ammunition in your hand is still unknown. However, in the field of education, Qiqiao Shares may be difficult to speak in the future.