penn3reel| ST Yongyue received an inquiry letter from the annual report asking about the core issues of every previous report

May 15thPenn3reel, ST Yongyue (i.e. Yongyue Technology (603879), SH603879, share price 3Penn3reel.32 yuan, with a market capitalization of 1.198 billion yuan) received the "Information Disclosure Supervision Inquiry letter on the company's 2023 annual report" issued by the Shanghai Stock Exchange.

According to a previous report in the Daily Business News, there are inextricable relationships among Yongyue's suppliers, major customers, real controllers and "borrowers" of funds.

Jiangsu Huaying Enterprise Management Co., Ltd., the controlling shareholder of Yongyue Technology, has occupied the company's funds through a third party, one of which is Shandong Hongtu Intelligent Technology Co., Ltd. (hereinafter referred to as Shandong Hongtu). The reporter's investigation found that Cai praseolong, the legal representative of Shandong Hongtu, was accused of being the "assistant" of Chen Xiang, the real controller of Yongyue Technology. At the same time, the reporter found that although a special subsidiary has been set up to produce drones, not all of Yongyue's drone products are produced by the company itself. The reporter asked as a purchaser and found that at least part of Yongyue's drones were purchased from Company A.

The questions asked in the inquiry letter of the Shanghai Stock Exchange include whether Yongyue's drone business is a financing trade or idling trade, and whether Yongyue's suppliers are designated by customers; the company is required to conduct a comprehensive self-examination of its funds and business dealings with the controlling shareholders, actual controllers and their related parties since the change of control.

The above issues are all the core issues previously reported by the Daily Economic News.

Some UAV products are purchased.

According to the Feasibility study report on the Dafeng Unmanned Science and Technology Industrial Park Project released by Yongyue Technology in January 2023, the estimated investment of the Dafeng Unmanned Science and Technology Industrial Park is about 330 million yuan. After the project reaches production, the production capacity is 3000 sets of plant protection drones, 1000 sets of fire-fighting drones, 1000 sets of electric cruise and military and police aircraft, 500 sets of large-scale logistics machines and 5 million pieces of precision accessories.

According to the reporter's investigation, although a special subsidiary has been set up to produce drones, not all of Yongyue's drone products are produced by the company itself. The reporter asked as a purchaser and found that at least some of the drones of Yongyue Technology were purchased from Company A.

A reporter from the Daily Business News obtained the QQ number of the staff of Company A from the company's website as a purchaser. The reporter asked: "I saw Yongyue Technology, and they said it would be useful for your drones, right?" A staff member of Company A replied, "Yes, the remote control is also used in my house." The reporter asked: "how many do they have? is there a large quantity?" The staff of Company A replied, "Last year, we made four or five thousand sets, or six or seven thousand sets." Subsequently, the reporter added another staff member of Company A's Wechat. The reporter asked: "Yongyue intelligent drones also use yours?" The second answer from the staff of Company A: "is that the one with the load?" The reporter said: "the application of the industry." The staff member of Company A replied, "that's not true." The reporter asked, "do they use your remote control?" The staff of Company A replied, "basically 80% of our remote controls are in use."

The Shanghai Stock Exchange requires Yongyue Technology to combine the main terms of the business procurement and sales contract of Jiangsu Zhongchuan Huaxia New Media Technology Co., Ltd. (a major customer of Yongyue Technology, hereinafter referred to as Zhongchuan Huaxia), to add and disclose the actual manufacturing link of the company in the development of the UAV business with Zhongchuan Huaxia, as well as the proportion of this link to the cost of the drone business, the company's role and role in this transaction.

"list the top five suppliers of the drone business, the transaction amount and the corresponding balance of transactions The sales target, sales price, sales quantity and revenue confirmation basis of the recognized revenue in this issue, and combined with the industry access qualifications (if any), personnel, assets, patents, core competitiveness of the company's UAV business to further explain whether the company's UAV business belongs to financing trade or idling trade, and whether it has commercial substance. " The Shanghai Stock Exchange said.

The payment of three suppliers was asked.

Yongyue Technology through the Hefei Mairan Network Technology Co., Ltd., Anhui Jierong data Technology Co., Ltd., Jiangsu Fengjin Internet of things Technology Co., Ltd. (hereinafter referred to as Hefei Mairan, Anhui Jierong, Jiangsu Fengjin, collectively referred to as three suppliers) signed a procurement contract to Zhongchuan Huaxia supply part of the contract.

Another company, Jiangsu Micro Energy Technology Co., Ltd. (hereinafter referred to as Jiangsu Micro), which is borrowed by Yongyue's controlling shareholders, is one of its indirect shareholders, Zhongrui Wisdom Holdings Group Co., Ltd. (hereinafter referred to as Zhongrui Intelligence).

According to a reporter's survey, Zhongrui Wisdom and Zhongchuan Huaxia, a major customer of Yongyue Technology, are inextricably linked, including having a common company name and adjacent address, and at the same time, Huaxia holding Development Group Co., Ltd., the 100% shareholder of Zhongchuan Huaxia, was also a shareholder of Zhongrui Wisdom. Anhui Jierong, one of the above-mentioned suppliers, also overlaps with Zhongrui Wisdom.

The Shanghai Stock Exchange requires Yongyue Technology: "combined with the main terms of the procurement contract, explain the reason and rationality of the large prepayment of the company under the circumstances that the three suppliers have not yet delivered the goods, Zhongchuan Huaxia has not paid, and the supply order has not been signed." whether the three suppliers are designated by Zhongchuan Huaxia, and whether they are related to Zhongchuan Huaxia and its controlling shareholders and its related parties. Whether the relevant advance payment involves non-operating occupation. "

In addition, the SSE requires Yongyue Technology: "to conduct a comprehensive self-examination of the funds and business transactions with the controlling shareholders, the actual controllers and their related parties since the change of control." whether there is any undisclosed occupation of funds, illegal guarantees or other potential misappropriation of interests, and further check whether there are violations such as the expenditure of funds after the period and whether there are new occupations. "

"Supplementary disclosure of whether Jiangsu Micro Energy Technology Co., Ltd., Nanjing Xiesheng Intelligent Technology Co., Ltd., Shandong Hongtu Intelligent Technology Co., Ltd. and its related parties exist among all the suppliers and customers of the company in the past three years, and list the transaction type, transaction time, transaction amount, and verify whether the related party non-operating funds are occupied." The Shanghai Stock Exchange asked.

In addition, the Shanghai Stock Exchange also inquired about Yongyue's chemical manufacturing business, fund-raising use, customers and suppliers, accounts receivable and R & D expenses.