Related party transactions were not disclosed in time, Tianbang shares received supervision letter
On March 17, the Shenzhen Stock Exchange issued a supervision letter to Tianbang.On June 30, 2019, Tianbang and Zhejiang Xingnongfa Animal Husbandry Co., Ltd. (“Xingnongfa Animal Husbandry”) gradually purchased contracts.On August 22, 2019, Su Lirong, a director of Tianbang, became a director of Xingnongfa Animal Husbandry, and Xingnongfa Animal Husbandry became a related party of Tianbang.From August 22, 2019 to March 12, 2020, the total amount of connected transactions between Tianbang and Xingnongfa Animal Husbandry was 5192.680,000 yuan, accounting for the latest audited net assets of listed companies2.18%.Tianbang shares did not disclose the above-mentioned related transactions in time, and did not disclose it until March 14, 2020.Therefore, the Shenzhen Stock Exchange issued a supervisory letter to Tianbang Shares, requesting them to learn lessons and rectify in time to prevent the above-mentioned problems from happening again.The performance forecast shows that Tianbang ‘s net income in 2019 will increase every year. Therefore, Tianbang shares have explained that the revenue growth is because the company ‘s hog breeding business continues to expand in 2019, and the proportion of revenue has increased from 62% in the previous year.To 74%.”The increase in operating income is mainly due to the increase in the price of live pigs.”For the reasons for the spread of the higher net profit growth, Tianbang said: “The main reason is that the company ‘s hog breeding business income and profit led to the realization of a turnaround; and the company made a provision for equity investment impairment in 2018 to confirm the investment loss of the industrial fundThe total provision for impairment of inventories is about 500 million yuan.”Sauna, Night Net, Yan Xia editor Yue Caizhou proofreading Li Xiangling