Fo Che Pharmaceutical New Guarantee Information In recent years, increasing increasing income and returning to the annual report is wrong

The new guarantee information of the Fo Che Pharmaceuticals did not increase the income in the first quarter and 2021, and there was an error in some information disclosure due to the work errors of the staff when responding to the annual report inquiry.

Recently, Lanzhou Buddha Pharmaceutical Co., Ltd. (hereinafter referred to as: Buddha Ci Pharmaceutical, 002644.SZ) new guarantee information, the company's participating subsidiary Gansu Fusi Hongri Pharmaceutical Co., Ltd. (hereinafter referred to as: Buddha Cihongri) The operation needs to apply for a loan from Ping An Bank Co., Ltd..

Earlier, Fo Che Pharmaceutical disclosed the first quarter report that operating income in the first quarter was 237 million yuan, an increase of 33.5%year -on -year; net profit of home mother was 21.496 million yuan, a year -on -year decrease of 6.96%; the basic earnings per share were 0.0421 yuan, a year -on -year decrease of 6.86%. It was found that the network was explained to the relevant situation of the above situation to send an interview letter to the Buddhist pharmaceutical mailbox, but as of press time, the Buddhist Pharmaceuticals did not explain it reasonably.

Provide a guarantee for the participating subsidiaries

Public information shows that the main business of Buddha Pharmaceutical is the research and development, manufacturing and sales of Chinese medicine and large health products, planting, processing and sales of Chinese medicinal materials, and producing pills, tablets, particles, capsules, rubber, etc. More than 110 products of the germ format.

According to the company's investigation information, the new guarantee information of Fo Che Pharmaceuticals was added on June 16. The company's participating subsidiary Fo Cihongri applied to Ping An Bank Co., Ltd. to apply for a 200 million yuan loan due to production and operation. The loan period was 6 years, the company was At 44%of the capital contribution, it provides guarantee for the Buddha Ci Red Day, with a guarantee amount of 88 million yuan. Tianjin Hongri Pharmaceutical Co., Ltd. (hereinafter referred to as: Hongri Pharmaceutical) also provides guarantee for the Buddha Ci Hongri at the same time as 56%of the shareholding ratio. This guarantee does not provide anti -guarantee.

It was found that the announcement of the Fo Cixi Pharmaceuticals found that there was a net profit loss in the first quarter of 2022, and the amount of losses far exceeded the net profit amount of the whole year of 2021. In the first quarter of 2021 and 2022, the operating income of Buddhist Cihongri was 140 million yuan and 33.054 million yuan, respectively; the net profit of the same period was 28,900 yuan and -11.893 million yuan, respectively.

(Picture source: Buddhist Pharmaceutical Announcement)

The Board of Pharmaceuticals of Fo Ci Pharmaceutical held that this time the guarantee risk of the participating subsidiaries is within the controllable range, and it will not cause adverse effects on the company's normal production and operation. Guarantee, this guarantee does not harm the interests of companies and other shareholders, especially small and medium shareholders.

It is worth mentioning that in the past year, the personnel of Buddhaci Pharmaceutical have changed frequently. According to Wind data, since 2021, Fog Cyromicine has changed a total of 5 directors and supervisors, and the most changes in personnel changes are members of the Strategic Committee, Director, and Deputy General Manager of the Strategic Committee. The last one occurred on May 10, 2022, and Mr. Zhang Junqiang resigned from the position of employee supervisor.

(Picture source: Wind)

Increasing the income is not profitable, the annual report inquiry letter is wrong in the reply

On the evening of April 26, Buddhist Pharmaceutical disclosed the "Report for the first quarter of 2022". In the first quarter, operating income was 237 million yuan, a year -on -year increase of 33.5%; net profit of home mother was 21.496 million yuan, a year -on -year decrease of 6.96%. The reason for the increase in operating income compared with the same period of the previous year, it said that it mainly increased its market expansion efforts in this period, and the sales of drugs and epidemic prevention materials increased.

Tracking data found that Buddha Pharmaceuticals achieved increasing revenue in only 2020 in recent years. According to Wind data, from 2018 to 2021, Buddhist Pharmaceutical's operating income was 545 million yuan, 629 million yuan, 668 million yuan, and 818 million yuan, respectively, with a year-on-year growth rate of 8.67%, 15.47%, 6.24%, and 22.39%. The net profit of returning mother was 73 million yuan, 71 million yuan, 108 million yuan, and 93 million yuan, respectively, with a year-on-year growth rate of -1.59%,-2.48%, 51.91%, and -13.66%.

(Picture source: Wind)

It is worth noting that on March 16th, Fo Che Pharmaceutical disclosed the "Report Report on the Term of the Holders and Other Party Occupy Fund" (Daxin Special Review [2022] No. 9-00006), saying that Shaanxi controlled by the company's controlling shareholder controlling shareholders Fo Ci Pharmaceutical Co., Ltd. (hereinafter referred to as: Buddha Ci Co., Ltd.) has non -operating funds that occupy the funds of listed companies. The cumulative accounting of 27.2836 million yuan in 2021 was 27.283 million yuan.

On April 13th, Fo Che Pharmaceutical disclosed the "Announcement of the Annual Report inquiry and Replies" that there was an error in the above announcement due to the work errors of the staff. The payment is mutual. The accountant of the annual review claimed that the "Report of the Capacity Occupation of the Fund" was not corrected in time, and there were errors in uploading the attached table. During the annual report audit, the annual accounting accounting project team and quality control personnel preliminarily judged that the receiving transaction was non -operating occupation. After discussing with the company's management, the final judgment did not belong to non -operating funds.

In this regard, the Shenzhen Stock Exchange issued the "Following Letter", requiring the specific transaction situation of the limited transactions with Buddha Ci. Fo Che Pharmaceutical said that the company and Shaanxi Pharmaceutical Holding Group Paiang Pharmaceutical Co., Ltd. (hereinafter referred to as: Pai Aang Pharmaceutical) and Buddha Ci limited three parties were replaced, which belonged to related transactions that occurred with Buddha Ci.

(Picture source: Reply letter) Accountant explained that it identified the judgment of management. Although there is a form of compensation debt in the three parties, the business is conducive to the recovery of the company and the company's cash outflow. The company does not exist to the controlling shareholder.The actual controller and other affiliated parties pay cash, and finally judge that it is not a non -operating funding.

Industry insiders pointed out that the annual report inquiry and reply can be wrong. The internal control management of Buddha Ci Pharmaceutical is obviously more chaotic and needs to be further improved in corporate governance.It is found that the network will continue to pay attention to reports.

(Reporter Luo Xuefeng Financial Researcher Liu Yue)

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