ESG解读｜国联股份ESG议题注重公司治理，三年营收调减457亿信披问题遭监管问询

Core Viewpoint - Guolian Co., Ltd. has released its 2024 Sustainable Development Report, highlighting its efforts in environmental protection, social responsibility, and corporate governance, amidst ongoing scrutiny regarding financial misconduct and information disclosure violations [2][6][9]. Financial Performance and Issues - Guolian Co., Ltd. has adjusted its revenue figures downwards by approximately 457.75 billion yuan from 2020 to 2022 due to changes in revenue recognition methods, with a significant discrepancy of 44.57% in 2022's revenue forecast [7][8]. - The company reported a substantial increase in prepaid expenses, reaching 7.693 billion yuan by the end of 2024, a 70% year-on-year increase, alongside a doubling of bad debt provisions [8]. - The company has faced multiple regulatory warnings regarding its financial reporting and income recognition practices, indicating potential internal control weaknesses [7][8]. Governance and Compliance - The importance of corporate governance is highlighted as the second most critical issue for Guolian Co., Ltd., following innovation-driven initiatives [3]. - The company has been under investigation by the China Securities Regulatory Commission (CSRC) for over 16 months due to suspected violations of information disclosure laws, which could lead to delisting risks if financial fraud is confirmed [12][13]. - Despite claims of adhering to information disclosure regulations, discrepancies between reported data and actual financial performance have raised concerns about the company's governance and risk management practices [9][11]. ESG Reporting and Management - Guolian Co., Ltd. has established a risk governance structure to manage ESG risks, but the effectiveness of these measures is questioned due to ongoing financial issues and supply chain risks [12]. - The company's 2024 Sustainable Development Report emphasizes its commitment to protecting the interests of stakeholders, particularly minority shareholders, yet the reality of its financial disclosures contradicts this commitment [9][11].