On March 1, MicroPort announced that it had received an inquiry letter from the Beijing Stock Exchange, involving a contract dispute over the "Double Carbon Green Energy Center Project".
According to the announcement, in January 2023, the company signed the "Material Procurement Contract" with State Grid Sichuan Comprehensive Energy Service *** hereinafter referred to as "Sichuan Comprehensive Energy") on the "Double Carbon Green Energy Center Project", with a total contract amount of 1200 million yuan; In April 2023, the company signed two "Material Procurement Contracts" with Hubei Province Smart Digital Technology *** hereinafter referred to as "Smart Digital") for the "Double Carbon Green Energy Center Project", with a total contract amount of 7437950,000 yuan, the smart digital seller is Sichuan Comprehensive Energy, and MicroPort Optoelectronics undertakes the procurement of the project.
In February 2024, MicroPort Optoelectronics said that it had objections to the above contracts and actual performance involving the "dual carbon green energy center project" with Sichuan Comprehensive Energy, and could not reach an agreement. The company has paid for the purchase of the project1600 million yuan was included in other receivables, and the provision for bad debts was fully made based on the principle of prudence.
At present, the People's Court of Qingyang District, Chengdu City, issued a notice of pre-mediation, organized the two parties to conduct pre-mediation, and Wang Yun, chairman of the board of directors, chief financial officer and secretary of the board of directors, issued a letter of commitment that he was willing to give priority to the company to compensate for the company's actual losses.
In this regard, the Beijing Stock Exchange requires MicroPort Optoelectronics:
1) Explain in detail the specific circumstances of the disputes related to the company and Sichuan Comprehensive Energy, including but not limited to the contract signing process, business types, products involved, final flow of funds, and the impact on the company's main financial indicators and accounting subjects.
2) Self-check the signing and execution of other major contracts of the company, and whether there is a risk of heavy law; Explain the implementation of the company's relevant internal control system and whether the company's internal control is effective;
3) Explain what legal and commercial measures the company has taken and will take to reduce the company's losses; Explain the main arrangements and feasibility of the current compensation plan for the chairman, chief financial officer and secretary of the board of directors;
4) Self-examination and explanation of the company's shareholders, directors, supervisors, and senior managers holding more than 5% of the company's shares in the past 3 months, and whether there is insider trading;
5) Other matters that the company deems necessary to be explained.
The Beijing Stock Exchange requires MicroPort to make a written explanation on the above issues, and submit and disclose the relevant explanatory materials before March 8, 2024.
According to the data, MicroPort Optoelectronics is mainly engaged in the research and development, production, sales and technical services of highway monitoring information products with the core in the field of intelligent transportation. The latest performance report shows that in 2023, MicroPort Optoelectronics will achieve an operating income of 13.3 billion yuan, a year-on-year increase of 374%；The net profit attributable to the parent company was 18.1 billion yuan, a loss of 2154 in the same period last year790,000 yuan; Basic earnings per share -1$12.
In the secondary market, as of March 1**, MicroPort Optoelectronics fell 443% to 1035 yuan, with a total market value of 1.7 billion yuan. (Zhongxin Jingwei app).
For more exciting content, please pay attention to the official WeChat of JWVIEW***