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On May 31, the Shenzhen Stock Exchange issued an annual report inquiry letter to *ST Dongyang, focusing on whether there are major uncertainties in its ability to continue operations, illegal guarantees by controlling shareholders and related parties, non-operational occupation of funds, performance compensation, etc.
12 asked
.
In 2020, *ST Toyodo achieved revenue of 6.
428 billion yuan, a year-on-year decrease of 26.
91%; realized net profit of -299 million yuan, a year-on-year decrease of 70.
67%
.
According to the audit report, the cumulative undistributed profit of *ST Toyo’s consolidated financial statements was 1.
484 billion yuan.
In this regard, the Shenzhen Stock Exchange required *ST Dongyang to explain the specific reasons for the significant decline in operating performance, the current debt solvency, the cash flow pressure it faces, the specific circumstances of the judicial freezing of some bank accounts and important assets, which have been adopted or planned to be adopted.
Response measures
.
Relevant financial or audit reports show that *ST Dongyang is currently involved in a number of litigation or arbitration cases, involving a total amount of approximately 1.
2 billion yuan, and illegally providing guarantees to controlling shareholders and related parties.
The ending balance is 786 million yuan
.
In addition, *ST Toyo's controlling shareholder Toyo Group's non-operating occupation of *ST Toyo's capital at the end of the period is 1.
139 billion yuan, and *ST Toyo has made a provision for bad debts of 228 million yuan for the non-operating occupation of its controlling shareholders
In this regard, the Shenzhen Stock Exchange required *ST Dongyang to explain the balance of illegal guarantees provided to the controlling shareholder and its related parties, the maximum daily guarantee amount, and subsequent measures to be taken to resolve the illegal guarantees; a comprehensive review of the controlling shareholders, actual controllers and their Non-operating capital occupation by related parties, and explaining the occupied and returned amount and the amount listed in the "Reminder Announcement on the Non-operating Capital Occupied by Oriental Ocean Group" disclosed by *ST Dongyang on April 24 The reason for the difference
