“协助财务造假，让上市公司高价购买被并购标的”！许冠群获刑5年但已提起上诉，公司有望追回4000万元

Core Viewpoint - The court ruling against Xu Guanqun for contract fraud has significant implications for Yitong Century, which is currently awaiting the outcome of the appeal process [1][2]. Group 1: Legal Proceedings - On November 18, Yitong Century received a criminal judgment from the Guangzhou Intermediate People's Court, sentencing Xu Guanqun to five years in prison and a fine of 500,000 RMB for contract fraud [1]. - The court found that Xu Guanqun's actions during the asset acquisition process led to Yitong Century overpaying for the acquired entity, resulting in substantial economic losses [2]. - Xu Guanqun has appealed the ruling, leaving the final judgment and subsequent execution uncertain [2]. Group 2: Historical Context - The case traces back to September 30, 2016, when Yitong Century acquired 100% of Beitai Health for 1 billion RMB, with an additional 482 million RMB raised for supporting funds [4]. - Beitai Health's performance fell short of expectations, revealing hidden debt issues and leading to legal troubles for its executives [4][5]. - The acquisition resulted in goodwill of approximately 756 million RMB, which poses a risk of significant impairment for Yitong Century if the situation worsens [4]. Group 3: Financial Impact - Following the legal issues, Yitong Century anticipated a goodwill impairment of about 500 million to 550 million RMB, projecting a net loss of 468 million RMB for the first half of 2018 [5][6]. - The hidden debt of 70 million RMB from Beitai Health, which was not disclosed during the acquisition, further complicates the financial outlook for Yitong Century [7]. - Yitong Century has initiated legal action against the shareholders of Beitai Health to recover the cash consideration paid during the acquisition [8].