Securities code: 002503 Securities Abbreviation: Search Yuda Announcement Number: 2021-062
Convertible bond code: 128100 convertible bonds abbreviation: search for convertible bonds
All members of the company and the board of directors guarantee the content of the information disclosure is true, accurate, and complete, without false records, misleading statements or major omissions.
The management of the listed company of Shenzhen Stock Exchange was managed by Souyu Special Group Co., Ltd. (hereinafter referred to as “Souyu Special Company” or “Company”) on June 2, 2021) The inquiry letter of the 2020 annual report “(the company’s annual report inquiry letter [2021] No. 291), the company’s board of directors carefully checked and analyzed the inquiry letter’s attention matters, and made a written reply. The reply announcement is as follows:
I. Annual report shows that your company realized operating income of 8,61,667,300 yuan in 2020, a year-on-year decrease of 33.36%; net profit attributable to shareholders of listed companies -177,098,300 yuan, a decrease of 930.78%year-on-year; the net cash flow generated by operating activities -162,584,200,000 Yuan. The Asia -Pacific (Group) Accountants (Special Ordinary Partnership) (hereinafter referred to as the “Annual Certified Accountant”) issued an audit report with no reserved opinions that emphasize the emphasis on matters with major uncertainty in your company.
Please your company:
(1) Combined with factors such as the main business operations, the changes in the industry’s environment, the changes in major customers and sales amount in the past two years, the reasons for your company’s operating income and net profit in 2020, as well as the net profit and net profit and business activities cash net net cash net net The reason for the traffic is negative;
(2) In conjunction with the emphasis on the prompts of the annual audit accountant, it shows that your company has adopted and intended to improve the measures to improve continuous operating capabilities and the progress of the return of the letter of return (if any).
The annual accounting accountant is requested to verify and express clear opinions on the above issues (1) and your company’s independent directors.
Company reply:
For the above questions (1), the company replies as follows:
1. The company’s main business business situation
(1) The company’s main business and products
During the reporting period, the company was mainly engaged in brand clothing operation, supply chain management, brand management and medical supplies, and focused on building a comprehensive service system for upstream and downstream companies in service fashion living industries. Comprehensive service provider. In terms of brand clothing operations, it is mainly engaged in the design and sales business of “trend frontline” brand clothing. Products cover men’s clothing, women’s clothing and accessories. Washing pants, jeans), skirts and other categories. Consumers of “Trending Frontline” brand clothing are positioned as young people aged 16-35 years old. The price is positioned as a cheap fast fashion, and the market is positioned as the domestic third and fourth line markets. Through the combination of direct -operating and franchise franchise, the company has established a “trend frontline” brand store as a sales channel in the country, and has established a leading competitive advantage in the domestic three and fourth line markets.
In terms of supply chain management, the wholly -owned subsidiary Dongguan Souyu Special Supply Chain Management Co., Ltd. is used as the operating platform to set up a supply chain management subsidiary with various partners in various textile and apparel industry clusters in various textile and clothing industry clusters across the country to bring together the region in this area. Supply chain resources and market resources, using the company’s experience and advantages in centralized procurement, design, research and development, production management, and warehousing distribution over the years, providing high -efficiency and low -cost supply chain management services for fashion industry brands, manufacturers and other customers. , Build a fashion industry supply chain management service system with a wide range of coverage and strong supply capacity in the country. The products sold mainly include cotton yarn, cotton, fabric, fiber and preparation, auxiliary materials and other textile and apparel -related materials. During the reporting period, the company in Dongguan, Zengcheng, Foshan, Jingmen, Hubei, Jiangsu Wujiang, Nantong, Shaoxing, Zhejiang, and Xiamen, Fujian, and other places.
In terms of brand management, the wholly -owned subsidiary Dongguan Souyu Special Brand Management Co., Ltd. is used as the operating platform to engage in sales of brand clothing and electronic products. During the reporting period, the company had a total of 4 brand management subsidiaries in Nanchang, Dongguan in Guangdong, Dongguan, Hubei, and Wuhan, Hubei.
In terms of the medical supplies industry, the wholly -owned subsidiary Dongguan Souyu Special Medical Products Co., Ltd. is mainly engaged in the production and sales of protective supplies such as medical masks.
(2) Company business mode
Brand clothing business model. The “Trend Frontier” clothing brand is the company’s independent leisure clothing brand, independent design, some raw materials independently purchased, all outsourcing production and processing (directly purchased by some products to processing plants), through the national “trend front line” brand clothing direct business store and brand Sales of franchise stores.
Supply chain management business model. In the textile and apparel industry, the resource allocation is performed. By giving full play to the advantages of large -scale centralized procurement, the procurement needs of clothing manufacturers and raw material trading enterprises in the concentrated area will integrate a large number of orders resources. Concentrated purchases of scale and sold to textile clothing production and processing manufacturers or clothing brand companies, thereby obtaining differences.
Brand management business model. Get differences from the sales of brand clothing and electronic products.
Medical supplies business model. Purchase raw materials by yourself, engage in the production of protective supplies such as medical masks at one time, and sell to domestic and foreign markets through a wholesale model.
(3) The company’s business situation
The main business income, cost, and gross profit comparison are as follows:
Unit: 10,000 yuan
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Continue above table:
Note: The operating income above only refers to the main business income.
In 2020, the company realized operating income of 86,667,300 yuan, a year -on -year decrease of 33.36%, of which the main business revenue was 8,57,355,300 yuan, a year -on -year decrease of 33.21%. From the perspective of business gross profit, clothing, materials, and electronic products were negative.
2. Changes in the industry environment
During the reporting period, the new crown pneumonia’s epidemic has brought a huge impact on the domestic and international, international and economic, and the textile and apparel industry was also deeply affected. During the epidemic period, the large -scale isolation of the epidemic caused the closure of offline stores, decreased passenger flow, sales pressure, and increased inventory. In the case of insufficient market demand and decline in production and sales, the industry operation was facing tremendous pressure. According to data from the National Bureau of Statistics, from January to December 2020, 13,300 clothing companies in the country achieved accumulated operating income of 1369.726 billion yuan, a year-on-year decrease of 11.34%; the total profit was 64.044 billion yuan, a year-on-year decrease of 21.30%. From January to December 2020, the losses of clothing companies above designated size reached 23.16%, an increase of 9.82 percentage points from the same period in 2019, and the loss of losses of companies increased by 62.41%year-on-year.
3. Changes in major customers and sales in the past two years
(1) Comparison of the top five customers in clothing sales in the past two years
Note: Shanghai Xinwei Sports Co., Ltd. is a customer of the company wholesale and sells other clothing brands.
Affected by the new crown epidemic and macroeconomics, the opening time of the terminal store in the first half of the year was delayed and the traffic was reduced; in the second half of the year, due to the reduction of the traffic flow of the end of the store in the second half of the year, the company’s main customers’ sales were affected to varying degrees, and the business appeared in business. Increased income declines sharply.
In 2020, the company’s clothing operating income was RMB 62,964,100, a decrease of 56.27%over the same period last year. Among them, the top five clothing customers sold 19,065,100 yuan in 2020, accounting for 30.19%of all clothing income, a decrease of 38.55%from the same period last year.
(2) Comparison of the top five customers in the past two years
Affected by the new crown epidemic and macroeconomics, the company’s supply chain management business upstream suppliers and downstream customers’ resumption of work and resumption of production and other reasons were delayed. In 2020, the total income of the materials was 738,731,400 yuan, a decrease of 30.29%over the same period last year. Among them, the company’s top five material customers sold 2.18913 million yuan in 2020, accounting for 27.37%of the entire material revenue, a decrease of 23.28%over the same period last year.
(3) Comparison of the top five customers in the sales of electronic products in the past two years
Affected by the new crown epidemic and macroeconomics, the sales of electronic products were also severely impacted. In 2020, the total income of electronic products was 402.792 million yuan, a decrease of 49.58%over the same period last year. Among them, the top five electronic products customers are the core customers of the company’s electronic products, and sales revenue has also decreased significantly. In 2020, the top five electronic products customers sold 28,847,300 yuan, a decrease of 49.42%over the same period last year, accounting for 71.60%of all electronic product revenue.
4. The reasons why your company’s operating income and net profit decreased significantly year -on -year in 20120, and the reasons for the net profit and the cash flow of net profit and business activities:
(1) In 2020, the company realized operating income of 8,61,667,300 yuan, a year -on -year decrease of 33.36%. The main reason for the significant decline in income:
1) In 2020, due to the influence of the new crown epidemic, the company’s supply chain management business upstream suppliers and downstream customers have delayed production and re -production. At the same time, the opening time of brand clothing business terminal stores has delayed business income. Among them: clothing income, material income, and other products (electronic products) decreased by 56.27%, 30.29%, and 49.58%over the same period last year, respectively.
2) In the new crown epidemic in 2020, the company actively responded to the government’s call and established a wholly -owned subsidiary Dongguan Souyu Special Medical Products Co., Ltd. to engage in the production and sales of protective supplies such as masks and develop to the medical supplies industry. During the reporting period, the revenue of new medical supplies was 15,375,600 yuan.
(2) In 2020, the net profit attributable to shareholders of listed companies -177,998,300 yuan, a decrease of 930.78%from the same period last year.
1) Affected by the new crown epidemic, the company’s business revenue declined, resulting in a large backlog of company inventory and slow recovery of funds. In order to clean up inventory and relieve the company’s capital pressure, the company carried out price reduction promotion on inventory inventory in November and December 2020, especially for brand apparel business inventory. Price reduction promotion led to a loss of 750 million yuan.
2) In order to further alleviate the company’s inventory pressure, reduce capital occupation, and quickly return funds, the 27th meeting of the 5th board of directors reviews and approve the company to promote inventory inventory. According to the overall inventory and inventory status of the inventory at the end of the year, the company focuses on checking and analyzing the inventory of long storage age. During the reporting period, the inventory price preparation is 514 million yuan.
3) Affected by the new crown epidemic, the company’s downstream franchisees are delayed due to the opening time of the terminal store, reduced human flow, and the low consumption. The above situation also directly affects the company’s sales repayment. The company negotiates the new repayment conditions with this part of the customer, and agrees that some customers will repay the due debt by the way of debt to debt. The debt restructuring of the two parties led to a debt restructuring loss of 144 million yuan during the reporting period.
4) The decline in sales revenue of downstream customers and difficulty in capital turnover cause the company’s difficulty in selling money and slow repayment. According to the company’s accounting policy reporting period, the increase in credit impairment losses is 218 million yuan.
5) Based on the results of the company’s long -term equity investment and transaction financial assets of the company’s long -term equity investment and transactional financial assets, the long -term investment impairment loss was 35.833 million yuan, and the amount of fair value changes lost 21.6156 million yuan.
(3) The reasons for the negative value of the cash flow of business activities
The company’s process of adjusting net profit into business activities is as follows:
The net cash flow generated by operating activities in 2020-162,584,200 yuan, mainly because:
(1) In 2020, the company’s net profit-181,500,600 yuan, of which: a net cash flow caused by losses related to business activities -66,382,500 yuan;
(2) The inventory decreased by 6.233399 million yuan, affecting the net cash flow of operating activities of 62,334,900 yuan;
(3) Due to the difficulty of clients due to the epidemic, operating receivables increased by RMB 160.2528 million, affecting the net cash flow of operating activities-160.2528 million yuan;
(4) The decrease of operating projects decreased by 14.25238 million yuan, affecting the net cash flow of operating activities -1425,238,800 yuan, mainly due to the influence of bank financing conditions. In 2020, the bills payable decreased by 123,295,900 yuan.
For the above questions (2), the company replies as follows:
Because the company’s net profit attributable to the parent company in 2020 was -177.0983 million yuan; the borrowing was overdue, the bank applied for seizure to searches and freezes some bank accounts of the special company and subsidiaries, the subsidiaries held by the special company were 61.75 million yuan in equity, and the actual actual situation was The controller’s 51,848,936.00 shares search in the special company’s shares and some bank accounts. These matters or situations indicate that there may be major uncertainty that may cause major doubts about the company’s continuous operation capabilities. The company’s annual audit agency Asia -Pacific (Group) Accountants (Special Ordinary Partnership) issued the Asian Conference Trial (2021) on April 28, 2021, which emphasized the audit report of the issue without reservation and the “about searching for special search specialty Group Co., Ltd. 2020 financial statements issued a special explanation of matters that emphasize matters without reservation of matters “(Asian Association Special Trial (2021) No. 01610065).
For the above -mentioned existence of major uncertainty that may cause major doubts about the company’s sustainable operation capabilities:
(1) According to the actual situation of the company’s operation and management, continue to reduce the wealthy employees, reduce expenses, strengthen cost control, reduce management costs, strengthen the collection of accounts receivable, improve internal control, and strive to form a more capable and efficient management team.
(2) Continue to carry out price reduction promotion activities for existing inventory inventory and return funds.
(3) Focus on brand clothing operations and continue to explore new retail marketing and fast fashion models; at the same time, actively explore the “trend frontline” brand trademark online and offline authorization business model. On the basis of ensuring the overallness of the goods Fully, diversified sources of goods, ensure product goods periods and quality, and significantly reduce the company’s inventory pressure and operating management costs. Through trademark management, open up new development channels for the company’s brand clothing, and strive to achieve a new breakthrough in brand clothing development.
(4) Strengthen the management of funds and payment of supply chain management business, strictly control the procurement side, strictly control the receivables of the sales side, and ensure the steady development of the supply chain management business.
(5) On the basis of doing a good job of textile and apparel business, continue to seek transformation, explore new paths for the company’s operation and development, and open up new space for the company’s development.
(6) Vigorously promote the construction of fundraising projects, and strive to complete the main project of the Fashion Industry Supply Chain Headquarters (Phase I) project of the Fashion Industry Supply Chain (Phase I) project of the convertible bond fund fundraising project at the end of 2021, and lays a solid foundation for the company’s development.
(7) Selling assets that do not affect operations, such as: investment real estate (Yushan County Jingcheng Commercial Building, Puning International Commercial City Store), the equity of the company’s participating companies (Gezhi Clothing, Mai Mei Trade, Muzi Clothing).
(8) Strive to seek discussions with financial institutions.
As of the progress of the return letter:
At present, according to the actual situation of management and management, the company has successively reduced some of the surplus employees and compressed expenses. As of the date of return, nearly 500 employees have been reduced. In April 2021, the price reduction promotional activities of some products were carried out to reduce the pressure of inventory. At present, we will further explore the online and offline authorization business model of the “frontline” brand trademark online, and open up new development channels for the company’s brand clothing through the authorization operation of trademarks, and strive to achieve a new breakthrough in brand clothing development. The company will also further strengthen internal management, strictly control the prepaid payment, strengthen the collection of receivables, and ensure the steady development of the supply chain business. On the basis of doing a good job of textile and apparel business, the company is also actively contacting all parties, continuing to transform, exploring the company’s operation and development new path, and opening up new space for the company’s development.
For the above questions (1), the accountant reply as follows:
We have paid attention to the company’s answers to the company’s business income, net profit, and the reasons for the net profit of the company’s operating income, net profit, and net cash flow of business activities in the past two years. The audit procedure, we think the company’s explanation is reasonable.
For the above issues (2), the independent directors reply as follows:
After discussions with the company’s management and combined with the current operating status of the company, the company’s current response measures that the company currently adopted and intended to improve continuous operating capabilities is in line with the company’s current operating conditions and operating environment. As an independent director, we will continue to pay attention to the company’s loan overdue. The follow -up progress of the case and the changes in the company’s continuous operating capabilities, and urged the company to fulfill the information disclosure obligations in time in accordance with relevant regulations and standardized documents.
2. The annual report shows that as of the end of 2020, your company’s short -term borrowing balance was 2.934 billion yuan. At the end of the year at the end of the year, the proportion of total liabilities in liabilities was 89%, and the asset -liability ratio was 62%. As of the end of 2020, the balance of monetary funds in your company was 1.137 billion yuan, of which: bank deposits were 702 million yuan, and limited monetary funds were 481 million yuan. The “Announcement on the Overdated and Partial Assets of the Company’s Debt and Frozen” disclosed by your company on April 29, 2021 shows that as of April 28, 2021, your company and subsidiaries overdue debt were 369 million yuan. Due to the overdue of the loan, the bank applied for seizure to freeze some bank accounts of your company and subsidiaries, 61.75 million yuan equity of your company’s subsidiaries, and 51,848,936.00 shares held by actual controllers and some bank accounts.
Please your company:
(1) Explain that as of the date of repayment of the above -date debt and the progress of the above -mentioned frozen matters (if any), there are still other overdue debt and restrictions on your company’s funds and assets;
(2) Explain the matching location of monetary funds, the type of storage, currency, interest rate level, the matching of interest income and the scale of monetary funds. In the past three years The reasons and rationality of a large number of short -term borrowings, whether there is a situation with the controlling shareholder or other affiliates or co -management accounts, whether the funds are occupied by other parties, if so, focus on whether there is a controlling shareholder or non -related party operating parties in non -operating parties. Situation of sexual funds;
(3) The specific measures for repaying short -term borrowing, paying related financial expenses, and copening about the overdue of the debt will have an impact on your company’s normal production and operation in 2021, and disclose the timely and sufficient risk of debt repayment risk (if there is).
The annual accounting accountant is requested to verify and express clear opinions on the above issues (1) (2), and your company’s independent directors to verify the above issues (2) (3).
1. On April 29, 2021, the company disclosed the “2021-044: Announcement on the Excessive Detailed and Frozen of the Company’s debt and some assets”. As of June 30, 2021, the debtor Dongguan Souyou Special Supply Chain in the above announcement was Management Co., Ltd. and creditors Dongguan Rural Commercial Bank Co., Ltd. Daoxuan Sub -branch of 67.3997 million yuan have been transferred to loans through the way of “renewing the old”.
2. On July 3, 2021, the company disclosed the “2021-057: Announcement on the New Treaster and Frozen of some of the new debt and some assets”, the company added some overdue debt and some assets to freeze.
3. After the company’s financial department statistics and verification, as of July 11, 2021, the total debt of the company and subsidiaries had a total of 926.4268 million yuan, accounting for the company’s 2020 net assets of 24.4464 million yuan. Details are as follows:
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Note: 1. The serial number 1-8, 45-47, and 53 are the overdue borrowing disclosed in the company’s April 29, 2021 “2021-044: Announcement on the Overdue of the Company’s Debt Overdue and Partial Assets Frozen”;
2. The serial number 9-30, 32-41, 48-52, 54-57 items are the company on July 3, 2021 “Announcement on the Announcement on the New Parts of the New Debt and Part of the Assets and the Frozen” Overdue borrowing;
3. Serial number 31, 42-44 is the newly added borrowing of the company on July 3, 2021 “2021-057: Announcement on the Announcement on the Announcement on the New Treaster and Partial Assets and Frozen”;
4. The above -mentioned capitals do not include liquidated damages, late payments and penalties due to overdue.
4. As of July 11, 2021, the company and subsidiaries’ bank accounts were frozen as follows:
Note: 1. Serial number 1-6, 36-42 are the frozen bank accounts disclosed in the company “2021-044: Announcement on the announcement of the company’s debt overdue and some assets of the company” on April 29, 2021;
2. Serial number 7-34, 43-55, 58-61, 63-66 is the company on July 3, 2021 “2021-057: Announcement on the addition of some overdue debts and some assets frozen” Frozen bank account;
3. Serial number 56-57 and 62 are the newly frozen bank accounts after the company on July 3, 2021 “2021-057: Announcement on the Announcement on the New Treasury and Partial Assets and Partial Assets”;
4. Serial number 35 and 67 are the omissions of the free bank accounts that have been frozen in the company on July 3, 2021 “2021-057: Announcement on the Announcement of New Parts Overdue Debt and Frozen Part of the Assets and Frozen”. As of June 30, 2021, the account frozen amount was $ 30, equivalent to RMB 209.96.
5. As of July 11, 2021, the company’s assets were frozen and pre -litigation preparation was seized as follows:
Note: 1. Serial number 1-2 is the frozen assets disclosed in the company’s April 29, 2021 “2021-044: Announcement on the announcement of some debt overdue and part of the assets of the company”;
2. Serial number 3-16 is the newly disclosed frozen assets disclosed in the company on July 3, 2021 “2021-057: Announcement on the announcement of some overdue debts and some assets frozen”;
3. Serial number 17-18 is the new frozen assets after the company’s “2021-057: Announcement on the announcement of some new debt and some assets and some assets” on July 3, 2021;
According to the company’s verification, the company’s assets were seized and frozen mainly:
(1) Due to the financial borrowing dispute between the company and CITIC Bank Co., Ltd. Dongguan Branch, CITIC Bank Co., Ltd. Dongguan Branch requested the company to repay about 160 million yuan in advance when the company’s loan was not overdue. The arbitration and applying for property preservation from the court, frozen some bank accounts of the company, Guangdong Meiyeda Supply Chain Management Co., Ltd. of 61.75 million yuan in equity, and Guangzhou Huimei Fashion Group Co., Ltd. held by the company 1,0339,200 yuan held by the company. Equity, guarantor (controlling shareholder, and actual controller Mr. Ma Hong) held 51,848,936 shares and some bank accounts.
(2) Due to the overdue of the company’s borrowing of Dongguan Daoyi Sub -branch of Industrial and Commercial Bank of China Co., Ltd., the bank filed a lawsuit with the First People’s Court of Dongguan, Guangdong Province and applied for property preservation. Municipal Huimei Fashion Group Co., Ltd. shares of 303 million yuan.
(3) Due to the company’s borrowing of Daoxuan Sub -branch in Dongguan Bank Co., Ltd., the bank filed a lawsuit with the First People’s Court of Dongguan City, Guangdong Province and applied for property preservation. Shang Gaozhou, Xinba Village, Daoling Town, Daoling Ya Village, Fushu Water Group, Changping Village, Daosheng Town, Daosheng Town, Dongguan City, Guangdong Province, land in the land of Fuju Water Group in Changping Village, Changping Village, Daosheng Town, Dongguan City, Land in Daling Ya Village, Daosheng Town, Dongguan City, and Liu’an, Anhui Province in Liu’an, Anhui Province Municipal Jiefang Road Pearl Plaza C (2) District Comprehensive Building 2#Shop, Anhui City, Tianchang City, Anhui Province, West Road, Building Comprehensive Building of West Road, No. 165 Haiyu Commercial Building, Jiefang North Road, Xintang Town, Zengcheng District Real Estate of No. 9 and 10 of Taohong Jin Dihuifu, No. 9, Jiefang Middle Road, 2018, 2015, 2020, 2017, 2016, 1017, 1018, Zhejiang Province, Zhejiang Province Room 01001, Room 01001, Room 01002, No. 5-67, No. 5-66, 5-66, Xinbei District, Xinbei District, Yangjiang City, Guangdong Province Real Estate, No. 01, Building 01, Building No. 01, Building 01, Huancheng East Road, Yingtan City, Yingtan City, Jiangxi Province, Room 101, 102, 103, and 21-1, Jiangxi Province, No. 16 Hongqi Avenue, Gongjiang Town, Du County, Jiangxi Province No. 21, No. 21, No. 2, No. 1 floor, No. 1, No. 3, No. 3, No. 3 (Waiting), No. 171 Zhongyuan Middle Road, Zhongyuan Middle Road, No. 171, No. 106, No. 106, No. 106, No. 106, No. 106, No. 106, No. 106, No. 106, and Hunan The real estate and guarantor (controlling shareholder and actual controller, Mr. Ma Hong) held by the Pedestrian Street Office of Youxian Street Office of Zhuzhou City, Provincial Zhuzhou City, 50,000,000 shares held by the company held by Mr. Ma Hong.
(4) Due to the company’s borrowing from the Dongguan Branch of China Agricultural Development Bank, the bank applied to the pre -property preservation from the Dongguan Intermediate People’s Court in Guangdong Province, and seized the company’s wholly -owned subsidiary Guangdong Meiyeda Supply Chain Management Co., Ltd. Land located in Nantang Island, Daodong Town, Dongguan City.
(5) Because the company’s borrowing of Dongguan Branch in China Everbright Bank Co., Ltd., the bank applied for pre -property preservation from the first People’s Court of Dongguan City, Guangdong Province, and frozen the company’s Guangzhou Huimei Fashion Group Co., Ltd. 2,011.99 10,000 yuan equity and the company held Guangzhou Larami Information Technology Co., Ltd. 8.92152 million yuan in equity.
(6) Because the company’s borrowing of the Guangzhou Branch of China Trust Commercial Bank Co., Ltd. was overdue, the bank filed a lawsuit with the People’s Court of the Nansha District of Guangdong Free Trade Zone and applied for property preservation. Room 106, No. 100 Huangpu Avenue West, and real estate on the second floor of Haiyu Commercial Building, No. 165 Jiefang North Road, Xintang Town, Zengcheng District, Guangzhou.
(7) Because the company’s borrowing of the Dongguan Branch of China Everbright Bank Co., Ltd. was overdue, the bank applied for pre -property preservation from the First People’s Court of Dongguan City, Guangdong Province, frozen some of the company’s bank accounts, and seized the company in Shashi, Jingzhou City, Hubei City. No.1, No. 217, Beijing Road, No. 1, No. 3 (waiting for seizure), No. 3 floor of 1 building, No. 3, and No. 3 floor, and a real estate in Building B, Heyuan City, Heyuan City, Guangdong Province.
For the above questions (2), the company replies as follows:
1. As of December 31, 2020, the matching location, type, currency, interest rate level, and interest income of the company at the end of the company’s period:
(1) At the end of the period, the inventory cash was 246,643.21 yuan, which was stored in the company and subsidiaries.
(2) At the end of the period, the currency funds were 2,712,813.69 yuan of other currency funds, which were stored in the company’s online sales platform account and special securities account.
(3) At the end of the period, the bank’s deposit and other currency funds were converted to RMB 1,133,776,629.56, stored in the bank account of the company and subsidiaries.
At the end of the period, the currency funds stored in the company and subsidiary bank accounts are as detailed as follows:
unit: yuan
(Lotal to version D30)
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