Editor's Note: This article comes fromCaijingOnchain Finance (ID: CaijingOnchain)Editor's Note: This article comes from
CaijingOnchain Finance (ID: CaijingOnchain)
CaijingOnchain Finance (ID: CaijingOnchain)
, Author: Chen Yi, reproduced by Odaily with authorization.
Caijing.com Chain Finance News, after applying for an extended reply, Yingying Network (SZ: 002517), an A-share listed company on the Shenzhen Stock Exchange, responded to the inquiry letter on the annual report issued by the Shenzhen Stock Exchange on May 22 on June 6. replied.
The inquiry letter from the Shenzhen Stock Exchange pointed out that the annual audit accountant issued an audit report with reserved opinions on the 2019 annual financial statements of Yingying Network. Matters related to Yingmeng's accounting treatment and investigation, and the involvement of some senior executives in the case.
In addition, in 2019, the ending balance of accounts receivable of Yingying Network in 2019 was 852 million yuan, accounting for 22.12% of the company's total assets. The provision for bad debts of accounts receivable was 179 million yuan, and the overall provision ratio was 21.01 %. The net cash flow from operating activities was 327 million yuan, a decrease of 62.72% over the same period last year.
In this regard, Yingying Network listed a series of basis for the annual audit accountant to make the above audit report, and further pointed out the impact of related matters on the company. In terms of the ending balance of accounts receivable and the accrual of bad debts, Kaiying Network replied that the company’s large amount of goodwill impairment in 2019 was nearly 2.1 billion yuan, and the total assets decreased significantly, which further caused the proportion of accounts receivable to total assets higher. After excluding the goodwill impairment factor, the proportion of accounts receivable to total assets approached the industry average; at the same time, the proportion in 2019 decreased compared with the previous two years, and the collection of accounts receivable increased.
In response to the significant decrease in operating cash flow, Kaiying Network stated that it was mainly due to the impact of game industry policies (suspension of game version number review, etc.), the settlement cycle of platform operators downstream of the game industry chain was extended.
In addition, according to Chainshang Finance, Kaiying Network, currently one of the blockchain 50 index sample stocks, has stopped its investment in the blockchain business, and the previous exploration of the blockchain business has also been completed. A failure at the implementation level.
On the afternoon of May 22, during an investor relations event held by Kaiying Network, an investor asked: "How is the company's previous layout of the blockchain, and has it fully withdrawn from the blockchain business?"
In this regard, Yingying Network replied: "The company has tried and explored in blockchain and other fields before, and later clarified its strategic focus, deepening and strengthening the main game business, and cannot form effective business synergy or empowerment for the current main game business. In principle, no more investment will be made in areas where it is possible.”
During the Spring Festival of 2018, Wang Yue, then chairman and CEO of Kingnet, sent an internal letter announcing the establishment of the blockchain division. According to the financial report of Kingwin in the first half of 2018, its blockchain division has been established, and a technical team of 100 people has been devoted to it. For the development and application of blockchain products.
At the beginning of the establishment of the blockchain business department of Kaiying Network, Ning Bingyang, one of the founders of Kugou Games, served as the CEO of the business department, and plans to officially release its first blockchain product in the second half of 2018.
Unlike other blockchain concept stocks that purely sell concepts, Kaiying Network has been supported by people in the industry as soon as it entered the market.
On March 5, 2018, Wu Jihan, then chairman of Bitmain, confirmed his investment in the blockchain game project jointly promoted by Hero Entertainment and Yingying Network. In August 2018, Kaiying Network launched the "Wutiao" app, which uses blockchain as the underlying technology content platform. However, the APP has not yet caused much splash in the market, and it is already "cool".
The then chairman Wang Yue, who mainly promoted the blockchain business, was also formally arrested by the Shanghai Municipal Public Security Bureau in June 2019 for the crime of operating the securities market.
According to the financial verification on the chain, there is currently no relevant application download information in the APP store and application store, and its main operating company Xi'an Ersan Digital Technology Co., Ltd. has not appeared in public channels for a long time. Its official Weibo and official WeChat account It has also stopped updating on December 25, 2018 and December 24, 2018, respectively.
There is no more public information on the blockchain game project invested by Wu Jihan before.
In May 2019, Kaiying Network stated that the company's blockchain business has gradually withdrawn when answering investors' questions at Shenzhen Stock Exchange Interactive.
Since then, Kaiying Network has never made any move to enter the blockchain industry.
According to the 2019 annual report of Yingying Network, Yingying Network is expected to lose 1.8 billion to 2.3 billion yuan in 2019, compared with a profit of 170 million yuan in the same period last year.
In response to this huge loss, Kaiying Network gave two explanations.
