Kanglongda, The Ninth Listed Company Falling Into The "Sui Tian Li Keng", Revealed A Stock Loss Of 295 Million Yuan, And Doubts About The Private Network Communication Trade

"Mysterious man" Sui Tianli's "private network communication" trade network is further "detonating" the A-share market, and another listed company announced "explosion".

On the evening of August 1, kanglongda (603665. SH) announced that some contracts of electronic communication equipment business operated by Beijing Yiheng Internet Technology Development Co., Ltd. (including its wholly-owned subsidiary, Zhejiang Yiheng Chengxun Technology Development Co., Ltd., hereinafter referred to as Eheng Internet) had abnormal contract execution.

From the downstream customers disclosed in the announcement of kanglongda, it is the aerospace Shenhe Technology (Beijing) Co., Ltd. (hereinafter referred to as aerospace Shenhe) controlled by Sui Tianli.

"We started our business of electronic communication equipment only last year, and we are not the main business of the company." On August 2, a staff member of the Securities Department of kanglongda (603665. SH) told the reporter of the 21st century economic report that the company is currently in charge of collecting money from aerospace Shenhe.

The ninth blast

According to qixinbao data, Yiheng Internet was established on January 4, 2008. The equity structure of the company is: Zhejiang Yukang gloves Co., Ltd., which is 100% owned by kanglongda, holds 51% of the shares; Zhiwei venture capital partnership (limited partnership) of Ningbo Meishan bonded port area holds 49% (hereinafter referred to as Ningbo zhiweiwei investment), and the actual controller of Ningbo Zhiwei venture capital is Huang Yifeng.

Since 2020, Yiheng Internet has carried out the purchase and sales of electronic communication equipment. The core product of this business is wireless ad hoc network communication equipment. The product can not only intervene in the existing broadband network, but also operate independently. It does not rely on the existing broadband network and can meet the communication needs of specific environment.

According to kanglongda announcement, Yiheng Internet has signed a series of electronic communication equipment sales contract with aerospace Shenhe. As of August 2, the overdue accounts receivable due to the failure to pay in accordance with the contract after receiving the products by aerospace Shenhe totaled 15.0379 million yuan, accounting for 1.37% of the net assets of the listed company through audit in the recent year.

"We have been going with each other all the time, and our appeal is that either you perform the contract or you can return the money to us." The above-mentioned kanglongda Securities Department told the 21st century economic report that due to the overdue accounts receivable, Yiheng Internet delayed the delivery of sufficient goods in order to avoid the expansion of losses.

This delayed delivery of goods corresponding to the formation of inventory amount (deducting the received advance payment) is 294.5387 million yuan, of which 37.3856 million yuan has been transferred with Nanjing Taihong Information Technology Co., Ltd. (hereinafter referred to as Nanjing Taihong). After deducting the transferred inventory, the inventory for aerospace Shenhe is 257153100 yuan.

According to the contract of partial equipment customization between Eheng Internet and aerospace Shenhe, there will be a total of RMB 50.0775 million under the contract, which should be delivered on July 28, 2021. If the problem of overdue accounts receivable is not solved at that time, the above-mentioned contract goods to be delivered may form new inventory, and the amount of possible increase in inventory (deducting the received advance payment) is 15.8728 million yuan.

To sum up, the total amount of overdue accounts receivable and inventory involved in Yiheng Internet of kanglongda holding company is about 300 million yuan.

At the same time, the loan balance of Eheng Internet in commercial banks is RMB 50 million, and the total amount of principal and interest of shareholder loan provided by kanglongda to Eheng Internet is RMB 258 million, which may lead to the risk of loss of kanglongda.

All the risks come from the overdue accounts of aerospace Shenhe. The reporter of 21st century economic report learned in the interview that this is not the first A-share listed company in the "pit" of aerospace Shenhe. Before that, Zhongtian Technology, Huihong group, and Zhongli group also broke the news that they were owed by aerospace Shenhe.

Qixinbao data shows that aerospace Shenhe is a company controlled by Sui Tianli.

It is worth noting that kanglongda is after Shanghai Electric (601727. SH), Hongda new materials (002211. SZ), risconda (603803. SH), Guorui Technology (300600. SH), Zhongtian Technology (600522. SH), Huihong group (600981. SH), Kaile Technology (600260. SH) and Zhongli group (002309. SZ), The ninth A-share listed company, which is involved in Sui Tianli's "private network communication" trade network, has been actively exposed.

According to the announcement statistics of listed companies, in extreme cases, the total possible loss amount of 9 listed companies is as high as 24.3 billion yuan.

Doubts about Ponzi scheme of private network communication service

Like all A-share listed companies affected by Sui Tianli's "private network communication" trading network, the "pit" suffered by kanglongda also started with 10% advance payment.

Kanglongda's announcement shows that the sales mode of "wireless ad hoc network communication equipment" of Eheng Internet is: customers pay 10% advance payment in advance, Yiheng Internet delivers the products within 180-295 days after receiving the advance payment, and customers pay 90% of the final payment within 5 working days after the acceptance of the products.

According to the contract, e-heng purchases from suppliers through the Internet and pays 90% of the purchase money in advance. The supplier's supply cycle is 90-180 days.

21st century economic report reporter noted that kanglongda's annual report in 2020 showed that its advance payment increased from 11 million yuan at the end of 2019 to 415 million yuan by the end of 2020. The reason is that "Yiheng Internet and its subsidiary Zhejiang Yiheng yuexun have paid in advance for the purchase of" multi mesh / Cloud data processing communication machine and smart ad hoc network data communication station suite "

What is "wireless ad hoc network"? Data show that wireless ad hoc network, also known as wireless mesh network, is a combination of WLAN and ad hoc network. It is a wireless network system with large capacity, high speed and wide coverage, which plays an important role in the field of modern wireless transmission.

A person in the communication equipment industry told the 21st century economic report that the wireless ad hoc network communication equipment is mainly used in military exercises, emergency relief, forest fire prevention and other fields. It has the advantages of "convenient installation, flexible structure, good stability and high bandwidth" in the wireless transmission industry. If multiple devices want to access a network at the same time, the network transmission rate of the whole system may be reduced. In the wireless ad hoc network system, each device has multiple transmission paths available, and the device can automatically select the node with better signal to connect to the network, so that the performance of the system will not be reduced

According to the aforementioned communication equipment industry, wireless ad hoc network communication equipment is one of the special network communication equipment. Since the sales of private network communication equipment are mainly for special industries, when companies sign sales contracts with customers, customers will put forward technical and parameter requirements for some raw materials, According to the specific requirements of customers, the company compares and selects suppliers that meet the standards, places purchase orders, and signs corresponding purchase demand contracts“ Private network communication equipment business exists, and 10% prepayment is also the industry rule, which is not too big a problem. But Sui Tianli this is really incredible, he has no real private network communication business, I don't know. "

In response to investors' questions on July 13, Guorui science and technology clearly stated that the multi mesh cloud data processing and communication machine is based on the technical requirements of the product to produce, assemble and debug, test the performance, package and deliver the finished products to customers, "our company does not know about the specific purpose."

Sui Tianli's so-called private network communication business model is that customer a prepays 10% of the advance payment to B listed company, requiring the production of specified private network communication equipment, and then listed company B goes to the upstream supplier C to purchase, and the procurement funds often need to prepay 85% - 100%, in fact, most of them are 100% in advance.

The risk is that as long as the downstream customers are overdue, the listed companies will have to bear a huge amount of risk, and even the upstream suppliers are overdue.

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