China Fund News reporter Lu Yuan
After the 2023 performance forecast changed dramatically, that is, from a pre-profit of about 17 million yuan to 23 million yuan to a pre-loss of about 195 million yuan, Geng Lin, chairman of Qujiang Cultural Tourism, was placed on file by the Shangzhou District Supervision Committee of Shangluo City and placed in lien.
Previously, after continuing to climb slowly, the share price of Qujiang Cultural Tourism suddenly fell continuously on April 15 and April 16, and continued to fall on April 25 after the performance forecast changed face.
The chairman of the board of directors was placed on file and placed in lien
Qujiang Cultural Tourism announced on the evening of April 26 that it received the "Notice of Case Filing" and "Notice of Retention in Custody" issued by the Supervision Committee of Shangzhou District, Shangluo City on the same day, and placed the company's chairman Geng Lin in custody. According to the provisions of the Articles of Association, the company held the third meeting of the 10th board of directors on April 26, and the meeting agreed that during the vacancy of the chairman, Xie Xiaoning, the company's director, general manager and chief financial officer, will perform the duties of the chairman of the company.
According to the data, Geng Lin was born in July 1982 and has a postgraduate degree. He used to be the deputy general manager, executive deputy general manager and general manager of Xi'an Qujiang City Wall Tourism Development Co., Ltd., the general manager of Xi'an New Chinatown Management Co., Ltd., and the director of the Datang Sleepless City Management Office in Xi'an Qujiang New Area. He is currently the deputy general manager of Xi'an Qujiang Cultural Industry Investment (Group) Co., Ltd., the executive director, legal representative and general manager of Xi'an Qujiang Tourism Investment (Group) Co., Ltd., and the chairman of Qujiang Cultural Tourism.
The performance has changed dramatically
At the end of January 2024, Qujiang Cultural Tourism announced that after preliminary calculations by the financial department, it is expected that the net profit attributable to the owners of the parent company in 2023 will be about 17 million yuan - 23 million yuan, which will be turned into a profit compared with the same period last year, and it is expected that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be about -10 million yuan - 4 million yuan in 2023.
In 2022, the net profit attributable to the owners of the parent company of Qujiang Cultural Tourism will be -249 million yuan, and the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses will be -261 million yuan.
The company explained at the time that the reason for the pre-profit in 2023 is the impact of the main business, during the reporting period, the tourism market continued to recover, the company's Tang Paradise, Ocean Polar Park and other revenues, as well as hotel catering, sports events and other business income increased compared with the same period last year, on the other hand, the impact of non-operating profit and loss, during the reporting period, the company's non-recurring profit and loss affected the amount of about 27 million yuan, mainly for the government subsidies received by the company.
However, on the evening of April 24, Qujiang Cultural Tourism announced that after the financial department calculated again, it is expected that the net profit attributable to the owners of the parent company will be about -195 million yuan in 2023, and the net profit attributable to the owners of the parent company after deducting non-recurring profits and losses is expected to be about -222 million yuan in 2023.
The main reason for the correction of the performance forecast is that, based on the principle of prudence and in accordance with the requirements of accounting policies, Qujiang Cultural Tourism determined that the expected credit loss model of accounts receivable changed, and the bad debts increased by about 192 million yuan, resulting in a loss in 2023 annual results.
In this regard, the Shanghai Stock Exchange issued the "Regulatory Work Letter on Matters Related to the Correction of the Performance Forecast of Xi'an Qujiang Cultural Tourism Co., Ltd." in the evening of the same day.
On April 26, Qujiang Cultural Tourism's share price was reported at 12.23 yuan, with a total market value of 3.12 billion yuan.
Editor: Captain
Review: Xu Wen