Hengli drilling utensil sprkeletors Bei Stock Exchange's accounts receivable high -cash flow decrease year by year

Our reporter Li Wanchen recently, the IPO of the Hengli Drilling Ware Inspection of the Beijing Stock Exchange is currently in the stage of registration. The main products of Hengli drills include various shields, top pipe tools, horizontal directional crossing diamonds, drills, interceptions, etc., which are used in domestic and foreign subways, highway railway tunnels, diversion tunnels, urban comprehensive pipelines, oil and gas pipelines, piles, piles, piles, piles, piles, piles, piles, piles, piles, piles Various projects such as foundation and mining mining. The main customers include China Railway, China Railway Construction, China Communications, China Power Construction, China Construction, Guangdong Huar Tunnel and other engineering construction units. In 2016, the company's shares were listed in the national SME transfer system. In 2020, the company was transferred to the innovation layer. Yu Lixin is the company's controlling shareholder and actual controller. From 2019 to 2021, the company's operating income was 144 million yuan, 156 million yuan, and 217 million yuan, respectively, and the gross profit margin was 46.90%, 39.22%, and 39.35%, and the net profit was 13.939 million yuan, 410.059 million yuan, and 48.533 million yuan. Yuan. Judging from these data alone, the company's profitability seems to be good. However, with the high gross profit margin and the annual growth profit, the company's account receivables have increased year by year and the proportion is extremely high. From 2019 to 2021, the accounts receivable of Hengli drills were 82.722 million yuan, 119 million yuan, and 185 million yuan, respectively, accounting for 39.47%, 42.43%, and 46.19%of the total assets, respectively, accounting for the proportion of operating income, respectively. It is 57.52%, 75.95%, 85.30%. Industry insiders pointed out that the company's account receivables have increased year by year, indicating that as the company's operating income increases, the ability to repay has not increased. Once these accounts receivable cannot be collected, huge losses will be formed. Correspondingly, the company's cash flow has decreased significantly year by year. From 2019 to 2021, the net cash flow generated by the company's operating activities was 21.7688 million yuan, 4.324 million yuan, and -27.36 million yuan, respectively. Li Sihai, a professor at Zhongnan University of Economics and Law, told a reporter from the Securities Daily that from the perspective of the company's report, the accounting profit was acceptable, but the cash flow was relatively tight. The key to the problem is why there is such a high collection of accounts under high gross interest rates, which need to be further analyzed. In addition, the Peking Stock Exchange has also made inquiries on whether the company's performance growth is sustainable and related risks. At the same time, in the business cooperation between the company with China Communications and China Railway, its income and accounts receivables increased significantly in 2021, whether it was a listing of the listing. In addition to facing certain operating risks, the Hengli drilling factor also frequently occurred in the early stage. On June 15, 2022, Hengli's drilling utensils announced that the company traced back and adjusted the company's financial statements in 2019, 2020, and 2021, and found that accounting errors were found in the early stage. The content of the early accounting error correction includes: adjusting the loss of losses, adjusting the corporate income tax, and adjusting some economic business accounts (the above accounting error correction matters, the deferred income tax assets, taxes and fees, income tax expenses, and surplus reserve caused The amount of the amount of unpable profit changes, this time adjustment), the cash flow gauge adjustment. If the correction of accounting errors belong to the category of normal financial adjustment, then the company's legal person and executive personal card for operating revenue is really abnormal. The declaration materials show that the company has the case of collecting payment, waste funds and useing for employee salary and payment fees. The cardholder involves the company's shareholders and financial leaders. Among them, in 2019 and 2020, the company collected the payment and waste revenue of 5.5306 million yuan and 5.281 million yuan through personal cards, accounting for 3.85%and 3.38%of the revenue to the year. In June 2022, the National Stock Transfer Company issued the "Publicity on Adopting Oral Warning, Supervision, Interviews, and Requesting Written Submitting Supervision Measures". In the list of illegal enterprises, Hengli Drilling has been named. Hengli Drilling Words were made on June 15, 2022 due to illegal use of personal card transactions in the company's business. In addition, in January and April 2020, the company lent the funds in the personal card to the actual controller Yu Lixin 1.9 million yuan, and the shareholder Zhou Yong (collected by the daughter -in -law of Zhou Yong) 2.4 million yuan, and the shareholder Yu Defeng 500,000 yuan Essence In response, the Northern Stock Exchange review agency requested the explanation of the Hengli drilling instructions to explain whether the controlling shareholder, actual controller and its affiliated parties have not operated the company's funds through the above -mentioned financial irregular behavior. Category costs, conveying or existence of other interest arrangements to the company. The reporter interviewed the company on the company's related management internal control issues, and as of the press time, it has not responded. Some market participants who are unwilling to be named told the Securities Daily that the company's legal person and senior executive personal cards were used to say that the company's business management was chaotic, the boss's funds from the company were unclear, and the financial system was irregular.

Picture | Site Cool Hero Bao Map Network Review | Editor Li Chunlian | Bai Baoyu Final Audit | Dong Shaopeng

Recommended reading

Health and Health Commission: 40 national traditional Chinese medicine clinical research bases have been constructed, 30 high -quality Chinese medicine overseas centers will be deployed

The three major stock indexes fell, and the insurance sector rose nearly 1%against the market. The institution suggested that investors maintain a 60%position

- END -