考核“精准”达标，百亿龙头是否调节利润？最新回应来了

Core Viewpoint - Neusoft Group received an inquiry letter from the Shanghai Stock Exchange regarding potential profit manipulation to meet specific performance targets after the release of its 2024 annual report [2][4] Financial Performance - Neusoft Group reported operating revenues of 10.544 billion yuan and 11.56 billion yuan for 2023 and 2024, respectively, with net profits attributable to shareholders of -147 million yuan and -36 million yuan during the same period, indicating a reduction in losses but still negative [6] - In 2024, the company achieved a net profit attributable to shareholders of 63 million yuan, a year-on-year decline of 14.7%, while the main business net profit was 435 million yuan, a year-on-year increase of approximately 22% [6] Stock Option Incentive Plan - The stock option incentive plan introduced in February 2024 set a unique performance assessment metric of "main business net profit," with a completion rate of 103.57% [4][6] - The company clarified that the main business net profit is defined as the net profit attributable to shareholders, excluding certain expenses and impacts from innovative business companies [6][7] Profit Adjustment Inquiry - The Shanghai Stock Exchange requested Neusoft to disclose the calculation process of the main business net profit, its audit status, and the reasons for the significant discrepancies between main business net profit and net profit attributable to shareholders [6][7] - Neusoft attributed the differences primarily to negative impacts from innovative business companies and the need to recognize impairment losses on long-term equity investments [7] High Borrowing Despite Cash Reserves - As of the end of the reporting period, Neusoft had cash reserves of 2.79 billion yuan, with short-term and long-term borrowings of 320 million yuan and 730 million yuan, respectively [9] - The company explained the high borrowing levels despite substantial cash reserves due to cash flow volatility, foreign exchange fluctuations, and the need to ensure operational safety [10]