Spend hundreds of millions of yuanCandycrushsagakingdownloadInstead of boosting the main business, it has brought listed companies into the abyss. Beijing Dahua International Accounting firm (referred to as "Dahua Institute") audited the effectiveness of internal control of Dongfang Fashion 2023 financial report and issued an "internal control audit report" with negative opinions. According to the relevant regulations, the company's shares have been delisted since May 6 this year, and the short name of the company's securities has been changed to "ST Dongshi (Rights Protection)". By the close of trading on May 16, the company's shares had gained 8 "one-word boards" in the nine trading days after the resumption of trading.
Oriental Fashion was issued with a "non-standard" opinion involving five issues, including a group of equipment procurement items that are particularly eye-catching. The company has previously purchased 3179 VR intelligent driving training simulators from Beijing Qianjia Mirage Technology Co., Ltd., which is owned by the controlling shareholder Dongfang Fashion Investment Co., Ltd., for a total of more than 300 million yuan. The company said in its 2022 annual report that delivery had been completed by April 2023, but in its 2023 annual report, it said that 2809 units had not been delivered by the end of 2023. Similarly, in view of the delivery status of the above-mentioned VR equipment, Dahua gave a diametrically opposite determination in two annual audit reports.
A reporter from the China Securities News recently visited the warehouse where the relevant VR equipment was stored and found that the above equipment had been idle for a year and some lines were exposed on the fuselage, unable to meet the delivery requirements. The person in charge of the warehouse said that the above equipment is theoretically oriental fashion, but the latter has to pay for the goods before it can be pulled away.
So where does Oriental Fashion claim that it has paid more than 300 million yuan for the goods? On May 15, a reporter from the China Securities News called to interview Dongfang Fashion, and the company did not give a positive response to the relevant questions in its written reply. It only said that the board of directors attached great importance to the matters involved in the qualified opinion audit report and the negative opinion internal control audit report issued by the accounting firm, and was actively taking effective measures to eliminate the impact of the above adverse factors on the company as soon as possible.
Yu Mengmeng, a reporter from ●
A missing loan.
The purchase of VR equipment took place in 2022. At that time, Oriental Fashion purchased 3179 VR intelligent driving training simulators from Thousand Mirage five times since March 2022. According to the payment arrangement, the above payment will basically be completed in 2022. The annual report of Oriental Fashion 2022 revealed that during the reporting period, the amount of related transactions between the company and thousands of Mirage involving the purchase of VR simulators and accessories reached 3. 5%.Candycrushsagakingdownload.21 billion yuan.
Dahua Institute issued a standard and unqualified opinion on Oriental Fashion 2022 Annual report, saying that as of December 31, 2022, Thousand Phantom had delivered 454 units to Oriental Fashion. As of the date of disclosure of this report (22 April 2023), the delivery of all equipment for 1000 Phantom has been completed.
Oddly enough, a year later, Dahuasu told a different story. According to the audit report of Dongfang Fashion 2023 Annual report, Dahua said that the other receivables were due to the incomplete delivery of 3179 VR intelligent driving training simulators purchased by Dongfang Fashion from 1000 Phantom in 2022. As of December 31, 2023, a total of 2809 VR intelligent vehicle driving training simulators have not been fully delivered. Thousand Phantom has confirmed the above matters and provided Dongfang Fashion with the delivery plan and arrangement of the above 2809 VR intelligent driving training simulators.
Why the equipment that was originally identified as delivered in the 2022 annual report was overturned in the 2023 annual report. With these questions, a reporter from the China Securities News recently rushed to a warehouse in Langfang, Hebei Province, where the 2809 VR intelligent driving training simulators mentioned above are stored.
At the scene, the reporter noticed that the entire warehouse area is the size of a standard football field, and nearly 3/4 of the area is stored with equipment. Li Rui (a pseudonym), who is in charge of the warehouse, said that there are less than 3000 sets of equipment in the warehouse, the shelves are basically packaged equipment, and the equipment stacked on the ground is mainly under commissioning. Close observation shows that there is a lack of mainframe, display screen, automobile simulator and electrical equipment in the VR simulator stacked on the ground.
When the reporter asked whether the equipment in the warehouse belonged to oriental fashion, the staff member's reply was intriguing. "to put it bluntly, giving money is the fashion of the East. According to normal logic, these devices have been included in the assets of Oriental Fashion, but (Oriental Fashion) has never been pulled away. "
Li Rui revealed that in March last year, just before the annual report of Oriental Fashion 2022 was disclosed, thousands of Phantom worked overtime to catch up with the undelivered VR equipment. However, thousands of Phantom has not received payment so far, and the above equipment has been idle in the warehouse for a year. Thousands of illusions are affected by this, and the current capital chain is under great pressure. If Oriental Fashion funds are in place, the equipment can be delivered.
Why does the book show that the payment of more than 300 million yuan has not fallen into the pockets of a thousand phantom? Dongfang has not made a positive response to this question.
Dahua's statement in the 2023 audit report of Oriental Fashion is also intriguing. "through the audit procedures that have been implemented, we are unable to obtain sufficient and appropriate audit evidence as to whether the above transactions involve the occupation of funds by related parties, whether thousands of phantoms can be delivered in accordance with the plan submitted to Oriental Fashion, the recoverability of the related payments and the adequacy and accuracy of the provision for bad debts."
The secret relationship is not clear.
In addition to the VR simulator, Dongfang Fashion's earlier purchase of new energy training cars is also full of doubts.
According to the announcement, Dongfang Fashion signed a new energy vehicle procurement contract with Beijing Tonglong Automobile sales Co., Ltd. from 2020 to 2021, Dongfang Fashion purchased a total of 3900 new energy vehicles (3898 actually delivered and 2 returned) from Tonglong Automobile. Among them, the contract stipulates that 1294 new energy vehicles are required to install AI smart equipment worth 54000 yuan.
This purchase training car has the same plot as the aforementioned VR simulator transaction. Dongfang Fashion said in its 2023 annual report that the company conducted a full inventory of the above assets in 2023, and as of December 31, 2023, all new energy vehicles in the deal had been delivered, AI intelligent driver training system delivered 350units, and the remaining 944 had not been delivered. The company reported a total of 49.8578 million yuan of undelivered AI intelligent driver training system to other receivables and set aside provisions for bad debts according to the aging method, 623700 yuan for bad debts at the end of 2020, 2.6865 million yuan for bad debts at the end of 2021, 5.8031 million yuan for bad debts at the end of 2022, and 10.3588 yuan for bad debts at the end of 2023.
Tonglong Motor has confirmed the above matters and promised to complete the delivery of the above 944 AI intelligent driving training systems by December 31, 2024.
Why did Tonglong fail to deliver 944 AI intelligent driving training systems for so long?
China Securities News reporter noticed that the relationship between Oriental Fashion and Tonglong Motor is extraordinary. According to the industrial and commercial registration data, Tonglong Motor was founded in December 2019 with a registered capital of 100 million yuan and the legal representative is Rong Wei, who holds 99.9% of the shares. The two external contact phone numbers announced by Tonglong Automobile in 2020 and 2021 correspond to 15 companies. The above subjects are basically Dongfang Fashion Investment Co., Ltd., the controlling shareholder of Dongfang Fashion, and related parties. In April 2020, Tonglong moved its registration place to 119, 1st floor, Building 4, No. 19 Jinxing West Road, Daxing District, Beijing, and this area is the office of Oriental Fashion and related parties. Dongfang Fashion listed Tonglong Motor as a related party in the 2020 semi-annual report, and its rental income reached 200000 yuan.
Four months later, the relationship was cleared. In January 2021, Guoxin Securities, a sponsor, said that the disclosure of Dongfang Fashion semiannual report was a disclosure error and that Tonglong Motor was not a related party of the company. Oriental Fashion also issued a correction announcement at the same time. It should be pointed out that in November 2020, Dongfang Fashion and Tonglong signed a 96.715 million yuan contract for the purchase of new energy vehicles. The deal is part of the 3900 new energy vehicles purchased by Dongfang Fashion from Tonglong Motor.
Regulators also noted the relationship between Oriental Fashion and Tonglong Motor earlier. Dongfang Fashion explained that Tonglong Motor gives priority to serving customers nearby when it relocates, and it is more convenient to communicate and dock in its future work. As for the same telephone number, Tonglong Automobile used the same industrial and commercial agency "whole process Registration Agency (Beijing) Office" as Dongfang Fashion and its related parties when applying for its annual report. the latter filled in the same contact number as Donglong Fashion and its related parties when filing the annual report for Tonglong Automobile.
Is that really the case? A survey by a reporter from the China Securities News found that the relevant statements of Oriental fashion could not be reasonably explained. Data show that Tonglong Automobile Supervisor Rong Xuefeng and Rong Wei, the legal representative of Tonglong Automobile, are sister and brother. Coincidentally, the person with the same name as Rong Xuefeng is also the legal representative of Beijing Tonglong Investment Consulting Co., Ltd. Tonglong Investment was established in November 2010. the three e-mails it has used so far are basically consistent with Dongfang Fashion affiliated companies, and 3 of the 4 phone numbers declared so far are consistent with Dongfang Fashion affiliated companies.
In fact, there is a relationship between Tonglong investment and oriental fashion. Dongfang Fashion prospectus has disclosed that the company hired Tonglong Investment to provide land consulting services for the company, including 2.6 million yuan in 2012 and 10 million yuan in 2013.
For more than a decade, Tonglong Company, which is owned by Rong's sister and brother, has successively traded with Oriental Fashion by means of land evaluation and car sales, and the two sides have the same telephone number and e-mail address. It is obviously difficult to explain the above-mentioned coincidences if only the industrial and commercial agency is used to declare the reasons.
Dongfang Fashion insisted in its announcement earlier that the company had judged the relationship between Tonglong Motor and the company one by one, and that there was no relationship between Tonglong Automobile and the company.
