Core Viewpoint - Hengxin Dongfang has been investigated by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure, following the company's self-examination revealing accounting errors in its 2022 annual report, which led to a revenue reduction of over 180 million yuan [2][3]. Financial Performance - The company reported a cumulative net loss of over 2 billion yuan over the past five years, with a loss of more than 34 million yuan in the first quarter of this year [2][7]. - In 2022, the company initially reported a revenue of 489 million yuan, which was later adjusted down to 308 million yuan, a decrease of 36.8% [3][5]. - The net loss for 2022 was reported at 421 million yuan, an increase of 18.06% year-on-year [3][7]. Accounting Adjustments - The accounting error was attributed to a change in revenue recognition method for the company's computing power system integration and technical services business, shifting from gross to net accounting [4][5]. - The revenue from this business was adjusted from 217 million yuan to 35.65 million yuan, representing a decline of over 80% [5]. Business Operations - Despite the investigation, the company stated that its business operations are continuing normally and that the investigation will not have a significant impact on its operations [3]. - The computing power system integration business, which was expected to be a major revenue source, has seen its market share squeezed due to increased competition and declining business volume [6]. Fundraising and Investment Projects - The company has faced challenges with its fundraising projects, frequently postponing or terminating them. For instance, a fundraising project initiated in November 2021 saw half of its funds redirected and reduced significantly [7][8]. - As of the end of last year, the company had utilized 6.52 billion yuan of its raised funds, accounting for 95% of the total [8]. - The company has also been using idle raised funds for cash management, with plans to use up to 130 million yuan for this purpose [10].
300081,被立案!