Zhongxin Jingwei, May 4 Due to the sudden thunderstorm in the annual report performance, Zitian Technology has attracted the attention of the regulator.
Suddenly a huge loss of 1.2 billion yuan
A few days ago, Zitian Technology disclosed its 2023 annual report, the company's operating income was about 2.188 billion yuan, a year-on-year increase of 25.34%, and the net loss attributable to shareholders of listed companies was about 1.210 billion yuan, compared with a net profit of 175 million yuan in the same period last year.
Zitian Technology has been engaged in modern advertising service business since May 2018. In terms of the main industry segments where advertisers are located, in 2023, the company's revenue in the gaming, e-commerce and application industries will account for 28.66%, 58.37% and 6.11% of the operating revenue, respectively.
Source: Announcement, (the same below)
According to the annual report, the total number of employees receiving salaries in 2023 is only 148, including 33 sales personnel, 62 technical personnel, 19 financial personnel, and 34 administrative personnel.
It is worth noting that in the third quarter report of 2023 disclosed by Zitian Technology, the net profit attributable to shareholders of listed companies exceeded 200 million yuan.
According to the announcement, after a comprehensive inventory and impairment test of the assets that may show signs of impairment within the scope of the consolidated statements as of December 31, 2023, such as long-term equity investments, notes receivable, accounts receivable, etc., the credit impairment loss is about 604 million yuan, and the asset impairment loss is about 646 million yuan.
In addition, Zitian Technology also mentioned in the "Announcement on the Discrepancy between Audited Results and Performance Expectations in 2023 and the Apology of the Board of Directors" that the cloud service revenue was originally recognized to be about 340 million yuan in the first three quarters, and it was confirmed by the audit that this part of the revenue and related profits were excluded by the net method.
Wind data shows that from 2013 to 2022, Zitian Technology's net profit attributable to shareholders of listed companies is less than 1.1 billion yuan, which also means that the company's huge loss of 1.2 billion yuan is higher than the cumulative amount in the previous 10 years.
Regulatory attention is being paid quickly
Just after Zitian Technology disclosed its annual report, the Shenzhen Stock Exchange quickly issued a letter of concern.
The Shenzhen Stock Exchange pointed out that Zitian Technology's net profit in 2022 will be 170 million yuan, and it will have a large loss in 2023. The above behavior violates the relevant provisions of the GEM Stock Listing Rules, and disciplinary proceedings will be initiated against the company and relevant responsible personnel.
THEREAFTER, THE FUJIAN SECURITIES REGULATORY BUREAU ISSUED THE "DECISION ON ISSUING WARNING LETTERS TO FUJIAN ZITIAN MEDIA TECHNOLOGY CO., LTD., SONG QING AND LIXIANG (LI XIANG)", STATING THAT THE ABOVE SITUATION VIOLATED THE "MANAGEMENT MEASURES FOR INFORMATION DISCLOSURE OF LISTED COMPANIES", AND THE COMPANY'S THEN CHAIRMAN SONG QING AND THE PERSON IN CHARGE OF ACCOUNTING LIXIANG (LI XIANG) FAILED TO BE DILIGENT AND CONSCIENTIOUS, AND BORE THE MAIN RESPONSIBILITY FOR THE ABOVE PROBLEMS.
THE FUJIAN SECURITIES REGULATORY BUREAU DECIDED TO TAKE ADMINISTRATIVE SUPERVISION MEASURES AGAINST ZITIAN TECHNOLOGY, SONG QING AND LIXIANG (LI XIANG) BY ISSUING WARNING LETTERS, AND RECORDED THEM IN THE INTEGRITY FILE DATABASE OF THE SECURITIES AND FUTURES MARKET.
The Shenzhen Stock Exchange also solemnly reminds Zitian Technology that due to the material discrepancies between the main accounting data of each quarter disclosed in the company's 2023 annual report and the first quarter report, semi-annual report and third quarter report disclosed in the previous period, it must correct the accounting errors, and comprehensively self-check whether there are false records, misleading statements or major omissions in the previous information disclosure documents. (Sino-Singapore Jingwei APP)