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On the evening of September 6, Sankeshu announced a "Verification Report on the Verification of Letters Related to Sankeshu Coatings Co.
, Ltd.
Report Letter" issued by the sponsor, which fully explained the company's cooperation with Evergrande Group in recent years.
Situation of dealings with funds
.
Evergrande has become the largest customer of Sankeshu for four consecutive years.
At the end of June this year, Sankeshu, which is conducting a non-public offering, responded to feedback from the Securities Regulatory Commission and disclosed for the first time the issue of the overdue payment of Evergrande
.
The company stated that as of the end of March 2021, the company's overdue notes receivable totaled 53.
6372 million yuan, of which Evergrande overdue notes amounted to 51.
370,600 yuan, accounting for 95.
77% of its total overdue notes
.
This comprehensive announcement of the cooperation with Evergrande originated from the issue of the China Securities Regulatory Commission on the issue of the issue of the report letter of Sankeshu Coating Co.
, Ltd.
Letter (Issuance Supervision Department Letter [2021] No.
1372)"
.
Judging from the response report to the "Verification Letter", Sankeshu and Evergrande are mutual customers, but mainly the former acts as the upstream of the latter to sell coating products to them
.
According to the response report, Sankeshu purchased grain and oil goods from Evergrande Grain and Oil in 2020, and the purchase amount was 10 million yuan including tax.
In 2018, 2019 and January to June 2021, it purchased Evergrande agricultural products from Evergrande Agriculture and Animal Husbandry.
The purchase amount of animal husbandry products and courtesy global nut cards were respectively 2.
017 million yuan, 1.
0 million yuan and 1.
4620 million yuan inclusive of tax
.
In addition, Three Trees purchased advertising services from Evergrande Taobao Football Club in 2019 and 2020, respectively.
The purchase amount was 20 million yuan and 15 million yuan including tax
.
The other three trees opened bank accounts and deposits with Shengjing Bank (Hengda associate company), which mainly occurred in 2019, with a deposit amount of 200 million yuan
.
Evergrande has become Sankeshu's largest customer for four consecutive years
.
The first three-year period from 2018 to 2021 generated sales of 254 million yuan, 448 million yuan, 389 million yuan, and 163 million yuan, for a total amount of 1.
254 billion yuan.
The sales revenue of each period accounted for 7.
09% of its operating revenue and 7.
50 respectively.
%, 4.
75% and 3.
49%, the proportions maintained a downward trend
.
Three Trees said that considering China Evergrande’s current financial situation, the company's future sales scale may further decline, and the strengthening of domestic real estate regulation may have a certain impact on the company's performance
.
200 million overdue payments are used to repay debts with housing and 560 million undue payments.
Deposit uncertainty Since 2018, Sankeshu has purchased grain and oil goods, agricultural and animal husbandry products, and courtesy of global nut cards from Evergrande’s subsidiaries, and developed with Evergrande’s Taobao football team Advertising cooperation, deposit in Shengjing Bank, an associate company of Evergrande
.
Evergrande is the largest customer of Sankeshu.
From 2018 to the first half of 2021, the cumulative sales amount is 1.
254 billion yuan, most of which exist in the form of notes and accounts receivable, totaling about 900 million yuan
.
As of August 31, a total of 336 million yuan was overdue, of which Evergrande paid about 15 million yuan in cash, 220 million yuan was used to repay debts with real estate, and 100 million yuan was still unpaid
.
Among them, 220 million real estates are located in Wuhan, Ezhou, Shenzhen and other places.
They are all off-plan housing.
The agreed delivery time ranges from 2022 to 2024
.
In addition to the above-mentioned overdue debts, Three Trees still has 562 million yuan of receivables from Evergrande and its subsidiaries, including 333 million yuan of bills receivable and 228 million yuan of accounts receivable
.
Three Trees said that if overdue bills cannot be redeemed in a long time, there may be a risk of bad debt losses for the company, which will affect the company's profitability
.
In recent days, due to liquidity and capital constraints, Evergrande’s commercial ticket business "thunderstorms", and some coating companies have been affected.
As a benchmark enterprise in the real estate industry, Evergrande has not only affected some of its business-related partners, It also affects the attention of all parties to the future direction of real estate
.
Disclaimer: The comprehensive source of the content of this article is Sankeshu Announcement, The Paper, Sina Finance, etc.
, edited by Ai Tubang.
Please indicate the source for reprinting
.
If it involves the content of the work, copyright and other issues, please contact this number in time, we will delete the content as soon as possible!
, Ltd.
Report Letter" issued by the sponsor, which fully explained the company's cooperation with Evergrande Group in recent years.
Situation of dealings with funds
.
Evergrande has become the largest customer of Sankeshu for four consecutive years.
At the end of June this year, Sankeshu, which is conducting a non-public offering, responded to feedback from the Securities Regulatory Commission and disclosed for the first time the issue of the overdue payment of Evergrande
.
The company stated that as of the end of March 2021, the company's overdue notes receivable totaled 53.
6372 million yuan, of which Evergrande overdue notes amounted to 51.
370,600 yuan, accounting for 95.
77% of its total overdue notes
.
This comprehensive announcement of the cooperation with Evergrande originated from the issue of the China Securities Regulatory Commission on the issue of the issue of the report letter of Sankeshu Coating Co.
, Ltd.
Letter (Issuance Supervision Department Letter [2021] No.
1372)"
.
Judging from the response report to the "Verification Letter", Sankeshu and Evergrande are mutual customers, but mainly the former acts as the upstream of the latter to sell coating products to them
.
According to the response report, Sankeshu purchased grain and oil goods from Evergrande Grain and Oil in 2020, and the purchase amount was 10 million yuan including tax.
In 2018, 2019 and January to June 2021, it purchased Evergrande agricultural products from Evergrande Agriculture and Animal Husbandry.
The purchase amount of animal husbandry products and courtesy global nut cards were respectively 2.
017 million yuan, 1.
0 million yuan and 1.
4620 million yuan inclusive of tax
.
In addition, Three Trees purchased advertising services from Evergrande Taobao Football Club in 2019 and 2020, respectively.
The purchase amount was 20 million yuan and 15 million yuan including tax
.
The other three trees opened bank accounts and deposits with Shengjing Bank (Hengda associate company), which mainly occurred in 2019, with a deposit amount of 200 million yuan
.
Evergrande has become Sankeshu's largest customer for four consecutive years
.
The first three-year period from 2018 to 2021 generated sales of 254 million yuan, 448 million yuan, 389 million yuan, and 163 million yuan, for a total amount of 1.
254 billion yuan.
The sales revenue of each period accounted for 7.
09% of its operating revenue and 7.
50 respectively.
%, 4.
75% and 3.
49%, the proportions maintained a downward trend
.
Three Trees said that considering China Evergrande’s current financial situation, the company's future sales scale may further decline, and the strengthening of domestic real estate regulation may have a certain impact on the company's performance
.
200 million overdue payments are used to repay debts with housing and 560 million undue payments.
Deposit uncertainty Since 2018, Sankeshu has purchased grain and oil goods, agricultural and animal husbandry products, and courtesy of global nut cards from Evergrande’s subsidiaries, and developed with Evergrande’s Taobao football team Advertising cooperation, deposit in Shengjing Bank, an associate company of Evergrande
.
Evergrande is the largest customer of Sankeshu.
From 2018 to the first half of 2021, the cumulative sales amount is 1.
254 billion yuan, most of which exist in the form of notes and accounts receivable, totaling about 900 million yuan
.
As of August 31, a total of 336 million yuan was overdue, of which Evergrande paid about 15 million yuan in cash, 220 million yuan was used to repay debts with real estate, and 100 million yuan was still unpaid
.
Among them, 220 million real estates are located in Wuhan, Ezhou, Shenzhen and other places.
They are all off-plan housing.
The agreed delivery time ranges from 2022 to 2024
.
In addition to the above-mentioned overdue debts, Three Trees still has 562 million yuan of receivables from Evergrande and its subsidiaries, including 333 million yuan of bills receivable and 228 million yuan of accounts receivable
.
Three Trees said that if overdue bills cannot be redeemed in a long time, there may be a risk of bad debt losses for the company, which will affect the company's profitability
.
In recent days, due to liquidity and capital constraints, Evergrande’s commercial ticket business "thunderstorms", and some coating companies have been affected.
As a benchmark enterprise in the real estate industry, Evergrande has not only affected some of its business-related partners, It also affects the attention of all parties to the future direction of real estate
.
Disclaimer: The comprehensive source of the content of this article is Sankeshu Announcement, The Paper, Sina Finance, etc.
, edited by Ai Tubang.
Please indicate the source for reprinting
.
If it involves the content of the work, copyright and other issues, please contact this number in time, we will delete the content as soon as possible!
