Yongshun Thai will review on July 28th.

On July 22, 2022, the eighteenth issuance review committee was scheduled to hold the work meeting of the 84th Issuance Audit Committee on July 28, 2022. At that time, it will be reviewed: Yuehai Yongshun Group Co., Ltd. (referred to as: Yongshuntai) 1 company's motherboard IPO application.

Yongshuntai is mainly engaged in the R & D, production and sales of malt. The company's products are based on the basics of barley malt, and take into account a variety of products such as high -end special malt. They are the largest malt manufacturers in China. From 2018 to the first half of 2021, the realization of revenue was: 2.432 billion yuan, 2.938 billion yuan, 2.826 billion yuan, and 1.485 billion yuan. Yuan, 129 million yuan.

During the reporting period, the proportion of barley wheat was 94.08%, 96.45%, 96.74%, and 96.16%of the main business revenue, respectively, and the revenue accounted for more than 90%. The company said that if the consumption of beer in the future declines and the intensive competition in the industry will lead to the decline in the revenue of the existing major product and the decline in gross profit margin, which will adversely affect the company's operating performance.

As the upstream supplier of the beer industry, the company's customers are also large beer groups such as Baili Yingbo, China Resources Beer, Yanjing Beer, Zhujiang Beer, and Tsingtao Beer. From January to June 2021, the company's top five customers' sales accounted for 69.94%of operating income. If the cooperative relationship between the company and major customers in the future will change, it will adversely affect the company.

- END -