#以书之名#
Not only that, its 41 bank accounts were frozen, the unfulfilled external guarantees were about 4.34 billion yuan, the balance of funds occupied was 966 million yuan, and the liabilities were 5.834 billion yuan
There were 57 lawsuits, involving a principal of 4.744 billion yuan.
In 2017, the cash of the high-tech was only 257 million yuan, and the current assets were only 4.4 billion yuan. It would seem, this thunder, quite large
In addition, in August 2018, the University of Technology issued an announcement on the correction of accounting errors, in which several points pointed out by the accounting firm were corrected.
According to the announcement:
1) Advances and other non-current assets that have not yet received a reply will eventually be remitted to its related party, Gongda Group.
2) The M&A fund set up, because the investment project is not mature, transferred the registered capital of 200 million yuan to the Industrial University Group on the same day.
Note that these sums of money were not transferred back to the University of Technology in the end, but transferred to the University of Technology Group, this announcement, carefully pondered, is really intriguing.
The correction of accounting errors of the high-tech university has reduced the owner's equity by 61.63 million yuan and the net profit attributable to the parent company by 51.63 million yuan. However, after the adjustment, the net profit attributable to the parent company is still positive, and the proportion is very good
After experiencing this series of situations, Harbin Institute of Technology also sent people to settle in the high-tech of the University of Technology, hoping to clean up and continue to protect the shell.
However, judging from the current situation of successive thunderstorms, it is difficult to turn things around unless assets are injected again
And the expectation of this asset has just become the reason for downstream investors to speculate on junk stocks, which has caused it to continue to rise and fall after the lowest point in fundamentals
The capital market is so weird, it always comes to make jokes.
However, for junk stocks, handsome is no more than three seconds.
Soon, huge performance losses will hit.
On January 31, 2019, the University of Technology High-tech issued a pre-loss announcement for 2018 results, with an expected loss of 2.989 billion yuan to 3.778 billion yuan in 2018.
There are three main reasons for the loss:
1) Due to the overdue debt of its subsidiary Humber Technology, 450 million yuan of loan interest, late fees, penalty interest and other expenses were withheld in 2018;
2) Since Humber Technology is currently unable to guarantee after-sales service, some customers require returns, so in 2018, an impairment provision of 2.1 billion yuan was made for related assets;
3) For the goodwill formed by the acquisition of 100% equity of Hanbo Technology in 2016 of 626 million yuan, the goodwill impairment provision was fully provided.
So, what are the warning signs that can help us avoid these minefields?
First, poor cash flow - since the acquisition of Humber Technology, the cash flow of Gongda High-tech has been very poor, and the cash flow interest guarantee ratio from 2016 to 2017 has always been negative, and its business activities need to be completed by financing.
Second, high guarantees, high litigation - a total of 41 bank accounts have been frozen, unfulfilled external guarantees of about 4.34 billion yuan, the balance of funds occupied is 966 million yuan, and the liabilities are 5.834 billion yuan
There were 57 lawsuits, involving a principal of 4.744 billion yuan. In 2017, the cash of the high-tech was only 257 million yuan, and the current assets were only 4.4 billion yuan.
Third, high goodwill - in 2016, when Gongda High-tech acquired Humber Technology, the value-added rate reached 144.84%, forming a goodwill of 626 million yuan, accounting for 14% of the net assets of that year.
These signals, we have already mentioned in the previous analysis, if you have not left the market at that time, the University of Technology has already worn a star hat
In 2018, there was another huge loss, and the risk of delisting is very high, and then it may lose all its money
Predict the follow-up and listen to the next breakdown
It does not constitute any investment advice, the stock market is risky, and you need to be cautious when entering the market