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Another listed company has made financial fraud, with an estimated loss of 19% in 2023.Decentralizedgaming20 million yuan

Source: under the plane tree V

Guangdong Taiantang Pharmaceutical Co., Ltd. (* ST Taian (Rights Protection), 002433) received the decision on Administrative punishment issued by the Guangdong Regulatory Bureau of China Securities Regulatory Commission ([2023] No. 31) on December 26, 2023. According to the penalty decision, Taiantang and its subsidiaries accumulated a total of 429 million yuan in profits by reducing carry-over costs, expenses and inflating drug sales prices from 2018 to 2021.

It is worth noting that on April 2, 2024, St Taian received a "decision" issued by the Shantou Intermediate people's Court [(2023) Yue05 Breshen No. 13] and a "Civil order" [(2023) Yue 05 Breaking Shen No. 13]. The main content of the decision: "Shantou Intermediate people's Court decided as follows: to end the pre-reorganization procedure of Guangdong Taiantang Pharmaceutical Co., Ltd." The main contents of the Civil order are as follows: "the Shantou Intermediate people's Court will not accept the application of the applicant Guangzhou Zhongbang supply chain Management Co., Ltd., Guangdong Taiantang Pharmaceutical Co., Ltd., against Guangdong Taiantang Pharmaceutical Co., Ltd."

At the same time, according to the announcement, "as of the date of this announcement, the non-operating funds occupied by the controlling shareholders of the company which were unable to express their opinions in 2022 have not been fully recovered, and there is still significant uncertainty in the company's sustainable operating ability. and due to defects in the company's internal control and other reasons, the audit institution may not be able to obtain sufficient and appropriate audit evidence on the specific time of the company's 2023 impairment loss. Auditors are likely to be unable to express their opinions on the company's 2023 financial report, and the company is likely to terminate its listing. "

Financial fraud for one or four years and occupation of funds for five years

On December 26th, 2023, the Guangdong Regulatory Bureau of China Securities Regulatory Commission issued a decision on Administrative punishment to Taian Hall and related parties ([2023] No. 31), the main contents of which are as follows:

1. There are false records in Taian Tang's annual report from 2018 to 2021.

From 2018 to 2021, Taiantang subsidiary Guangdong Kangaiduo Digital Health Technology Co., Ltd. (hereinafter referred to as Kangaiduo) falsely increased inventory and profits by means of less carry-over costs and less expenses. From 2018 to 2021, the inventory was falsely increased by 64800000 yuan, 140610000 yuan, 114950000 yuan and 103.189525.66 yuan respectively.

From 2018 to 2020, Taiantang and its subsidiary Guangdong Hongxing Group Co., Ltd. Hongxing Pharmaceutical Factory (hereinafter referred to as Hongxing Pharmaceutical Factory) falsely increased revenue and profits by falsely increasing drug sales prices. The inflated income from 2018 to 2020 was 2612307.69 yuan, 10078484.67 yuan and 5003302.21 yuan respectively.

Through the above ways, Taiantang falsely increased its profits by 65996384.68 yuan, 143712582 yuan, 115928145.58 yuan and 103189525.66 yuan respectively from 2018 to 2021, accounting for 20.08%, 115.79%, 304.72% and 12.25% of the total profits recorded in the current report, respectively. There are false records in the relevant periodic reports.

2. Taian Hall fails to disclose related party transactions in accordance with the regulations, and there are major omissions in the 2018-2021 annual report and the 2022 semi-annual report.

From 2022 to the first half of 2018, Taiantang and its subsidiaries conducted related party transactions with controlling shareholder Taiantang Group Co., Ltd., through prepayment of equipment purchase money, advance payment of drug purchase payment, and payment of Linxia ginseng purchase money. The amount of funds occupied from 2018 to the first half of 2022 was 64846419.70 yuan, 205265742 yuan, 276554699.08 yuan, 269269391.59 yuan and 161129919.70 yuan respectively, accounting for 1.22%, 3.80%, 5.10%, 5.87% and 3.61% of the net assets recorded in the current report.

II. As of March 2024, the share of related parties has not yet been settled.

As early as 2022, Taiantang had the situation of non-operating occupation of company funds by controlling shareholders and their related parties. at that time, it occupied 253.9524 million yuan of listed company funds by means of indirect transfer.DecentralizedgamingBy June 2023, the outstanding amount of non-operating funds occupied by the controlling shareholders rose to 491.5613 million yuan.

On March 7, 2024, * St Taian made another announcement on the progress of clearing non-operating funds occupied by the controlling shareholders and their related parties. According to the announcement, the outstanding amount of non-operating funds occupied by Taiantang to the controlling shareholder is 391.5613 million yuan.

In addition, the announcement also sorts out the occupation of non-operating funds by the company's controlling shareholders and their related parties, as follows:

According to the 2022 half-year report of Guangdong Taiantang Pharmaceutical Co., Ltd. (hereinafter referred to as "the company"), the company has the situation of non-operating occupation of company funds by the controlling shareholder and its related parties. Taiantang Group Co., Ltd. (hereinafter referred to as "Taiantang Group"), the controlling shareholder, occupied 251.253 million yuan of funds of the listed company by indirect transfer, which was later confirmed to be 253.9524 million yuan.

According to the company's 2022 annual report, as of December 31, 2022, the controlling shareholder occupied 456.8601 million yuan of non-operating funds, resulting in the company's 2022 financial report was issued by Zhongxinghua audit report.

According to the company's reply to the "inquiry letter of the Shenzhen Stock Exchange on the company's 2022 annual report" disclosed on June 7, 2023, after the disclosure of the company's annual report in 2022, up to the date of inquiry reply, the company conducted a thorough self-examination, the non-operating capital occupation of the controlling shareholder increased by 89.8836 million yuan, so far, the outstanding amount of non-operating funds occupied by the controlling shareholder is 491.5613 million yuan.

III. Estimated loss of 1.92 billion yuan in 2023

Taiantang was established in March 2000 and listed on the small and medium-sized board of Shenzhen Stock Exchange in June 2010. the company is mainly engaged in drug R & D, production and sales, pharmaceutical e-commerce and other business. In the manufacturing business of proprietary Chinese medicine, it currently has 18 dosage forms production lines, including cream, ointment, tablets, capsules, pills and solution (for external use). The main products are Qilin pills, Qubi Shu shoulder pills, Xinbao pills, Xinbao pills, Tongqiao Yixin pills, Shenqinaokang capsules, Dantian Jiangzhi pills, anti-tinea dampness ointment. In the Internet pharmaceutical e-commerce business, the company's subsidiary Kangaiduo relies on the Internet platform to cooperate with Internet companies, pharmaceutical industry enterprises and offline retail pharmacies.

According to Tai 'antang's previous disclosure, from 2020 to 2022, Tai' antang's operating income was 3.582 billion yuan, 2.264 billion yuan, and 725 million yuan respectively, and its operating income dropped significantly.

At the same time, in January 2024, Tai 'antang released its 2023 performance forecast announcement. Tai' antang predicts that the company's net profit attributable to shareholders of listed companies in 2023 will be-1.766 billion yuan to-1.921 billion yuan, an increase of 82.8223 million yuan compared with the same period last year., showing a gradual expansion trend.

At the same time, Tai 'antang explained the reasons for the change in performance: "During the reporting period, the company had heavy debts; the proportion of fixed assets was large, and fixed expenses such as depreciation and amortization were high; Guangdong Kangaiduo Digital Health Technology Co., Ltd. has a litigation dispute with suppliers. Due to the company's joint and several liability guarantees, Kangaiduo's many supplier litigation companies bear joint and several liability. The company's financing channels are severely restricted, liquidity is insufficient, and product sales channels are short of investment funds, resulting in a large loss in product operating profit; during the reporting period, asset impairment losses were large, with asset impairment of approximately 1.9 billion yuan."