On January 29, Guangyuyuan (600771) issued the "Announcement on the Correction of Accounting Errors and Retrospective Adjustment in the Previous Period" to correct accounting errors and retrospectively adjust the company's financial statements from 2016 to 2022, and at the same time retrospectively adjust the financial statements of the first quarter, half year and third quarter of 2023.
According to the announcement, on December 28, 2023, Guangyuyuan received the "Notice of Case Filing" issued by the China Securities Regulatory Commission. After receiving the "Notice of Case Filing", the company found through a comprehensive self-examination that the company's operating income and sales expenses from 2016 to 2022 were recognized across periods, resulting in accounting errors from 2016 to 2022.
Guangyuyuan said that after the adjustment, it will not lead to a change in the nature of the profit and loss of the company's disclosed financial statements from 2016 to 2022. However, according to the results of the correction of accounting errors in the previous period, Shanxi Guangyuyuan, a holding subsidiary of the company, failed to complete the net profit target promised by Xi'an Dongsheng Group in 2016, 2017 and 2018, and Xi'an Dongsheng Group needs to compensate the company.
In response to the above matters, the Shanghai Stock Exchange quickly issued a letter of inquiry, requiring Guangyuyuan and relevant intermediaries to make further verification and supplementary explanations on the causes of accounting errors and the accuracy of corrections, and the nature and impact of accounting errors.
So far, Guangyuyuan has not received a conclusive opinion or decision from the China Securities Regulatory Commission. Wu Lijun, a lawyer at Shanghai Haihui Law Firm, said that any injured investor who was "widely renowned" during the period from March 21, 2017 to December 28, 2023, and still held the ** on December 28, 2023, may be able to claim compensation from the company. Investors who meet the above conditions can register for participation through the official account "Dazhong ** Newspaper" (feature code: 18). The final claim conditions are subject to the court's determination.
On the same day, Guangyuyuan released the 2023 annual performance pre-profit announcement, and the company expects to achieve a net profit attributable to the parent company of 100 million yuan to 1 in 2023200 million yuan, an increase of 4$9.9 billion to $5$1.9 billion, an increase of 3$4.9 billion to $36.9 billion yuan to turn losses into profits.