pokerbrosrealmoney| Last year's annual report was scheduled to be issued "unable to express opinions" * The risk of terminating the listing of ST Mall is high

Wei Guanhong, editor of every reporter Yu Yilang

On the evening of April 26th, * ST Mall (Commercial City, 600306)PokerbrosrealmoneySH, share price 2.09 yuan, market value 895 million yuan) issued a letter on the progress of the audit.

Unitai Zhenqing Accounting Office (Special General partner) (hereinafter referred to as "Yunitai Zhenqing Institute") said: "We accept the commission to audit your company's financial and accounting report for 2023, and we have issued the first draft of the audit opinion. I am unable to express my opinion on the 2023 financial accounting report.

According to the previous announcement, on March 13, because of itsPokerbrosrealmoneyThere are differences between his business income deduction and accountants. * ST Mall received a proposal from 12 shareholders to change the company's audit institution from Dahua Accounting firm (Special General partner) (hereinafter referred to as "Dahua Institute") to Unitai Zhenqing Institute in 2023.

Following the change of accounting firm, * ST Mall has extended the disclosure appointment for the annual report to April 30, 2024. The data related to the 2023 annual report are crucial to the termination of the listing of * ST Mall, and if the company's 2023 financial statements are unable to be commented by the annual auditor, * ST Mall will touch upon the termination of the listing.

The CFO resigned after the proposed change of accountant

On the morning of March 13th, * ST Mall received a letter from 12 shareholders proposing to change the company's audit institution from Dahua to Younitai Zhenqing in 2023.

The relevant shareholders pointed out that * ST Mall has differences with accountants on other business income deductions, Dahua audit procedures require the provision of customer contact information and customer capital flow, which are beyond the company's normal and reasonable scope of ability, Dahua can not meet the requirements of the company to complete the audit work on time, and so on.

The audit progress note issued by Unitai Zhenqing shows: "the company's (* ST Mall) performance forecast shows that the income after deduction is 139 million yuan, of which at least 46 million yuan is to be verified, which is mainly related to self-operated gold and home appliance business, and further audit procedures are needed to verify, and there is currently significant uncertainty in the verification results. If deducting the relevant income to be verified or the relevant income to be verified is not recognized, the company's operating income in 2023 will be less than 100 million yuan. "

On the other hand, Chen Zhenfen, former director and CFO of * ST Mall, resigned as director and CFO due to personal health reasons, and will no longer hold any position in the company after his resignation. Subsequently, on April 15, the company agreed to appoint Sun Zhen as vice president and chief financial officer of the company.

On April 19th, Unitai Zhenqing said that in the audit procedures for proprietary gold and home appliance business, the gold transaction amount to be verified was 25.22 million, and the home appliance sales amount to be verified was 20.65 million. Due to the limited scope of the audit, sufficient and appropriate audit evidence could not be obtained on the above matters of * ST Mall as the basis for issuing audit opinions, and it was proposed that the financial statements of * ST Mall 2023 could not be expressed.

The first draft of the audit opinion shows that the annual audit institution is "unable to express its opinion" on last year's financial report.

On the evening of April 26, Yunitai Zhenqing said in its audit progress letter: "We have issued a first draft of audit opinions and are unable to express our opinions on the 2023 financial and accounting report."

The first draft of the audit report "forming a basis on which opinions cannot be expressed" shows that although the annual audit accountants have carried out the relevant audit procedures for the transactions of self-operated gold and home appliances, they are still unable to verify the financial status of the counterparty, fail to obtain the logistics information of the transaction, cannot obtain the penetrating information of the customer, and cannot obtain sufficient and appropriate audit evidence to judge the accuracy and commercial rationality of the transaction. It is not possible to implement other alternative procedures to assess whether the relevant accounting treatment properly reflects the substance of the transaction, to determine whether adjustments are necessary, or to determine the amount to be adjusted and the impact of the disclosure of the relevant financial statements. As a result, Unitai Zhenqing is unable to comment on the 2023 financial statements of * ST Mall. Due to the lack of key audit evidence, the audit scope is limited, and Nitai Zhenqing is unable to evaluate the effectiveness of the internal control of the financial report of the Commercial City Company on December 31, 2023.

At the same time, * ST Mall warns that if the company's 2023 annual report is issued by the annual audit accountant, the company's shares will be terminated.

* the main business of ST Mall is retail, and the main business forms are department stores and supermarkets. On January 30th, * ST Mall announced its 2023 performance pre-loss announcement. The company expects to achieve an operating income of about 155 million yuan in 2023, and about 139 million yuan after deducting business income that has nothing to do with the main business and income that does not have commercial substance. Among them, the relevant income to be verified in self-operated gold and self-operated home appliances business is about 20.16 million yuan. It is estimated that the net profit attributed to the shareholders of the listed company in 2023 is about 280 million yuan, and the net profit belonging to the shareholders of the listed company after deducting non-recurring profits and losses is about 33.87 million yuan.

Source: visual China-VCG211300009287

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