Ai Financial Software IPO: capital occupied by related parties alleged draft report failed to disclose | Ai Financial Software | IPO | Everbright Securities


  Unfortunately, not you accompany me to the last……When the cold freezing rain beat reporters face, a familiar song slowly began to sound in the ears。   This song is very appropriate to describe and Haiyi story between Financial Software Co., Ltd. (hereinafter referred to as "Ai Financial Software")。
  Recently, Ai financial software application IPO, To visit the GEM, 1123 public offering of shares, after accounting for 25% of the total issued share capital。
  Public information, Ai Rong software in three new board listing in June 2014, was organized by brokerage Everbright Securities, and in the April 28, 2017, Ai Financial Software submitted a draft report, which was sponsored by the German securities brokerage。   This view, Ai accompany financial software through three years of ups and downs Everbright Securities seemingly "out" of the。
  Although seemingly been "kicked out", but in fact, Everbright Securities and Ai Financial Software of "love and hatred" much more than that。
  Next, please take a look at Keguan the IPO Daily story between them together。   First to shareholders, after "expose" illegal although not disclose the exact time, but according to the information available to project, Ai Financial Software and Everbright Securities "Meet" should be after 2014。
  As the host brokerages, Everbright Securities Financial Software intends to accompany Ai way forward。   June 2014, at Everbright Securities counseling, financial software Ai successfully listed three new board。   Perhaps in order to "Well I love you" between both sides expressed, March 31, 2016 – March 31, 2017, Everbright Securities to acquire shares through the share transfer system, transformed into a shareholder Ai financial software (% stake )。
  However, Ai Financial Software became shareholders in the near Everbright Securities, April 28, 2017, Ai Financial Software prospectus filed, this time hosted by the German securities broker has been replaced。
  Ai Financial Software abandoned the old love, new love hand。
  Financial Software for Ai faithless act, Everbright Securities gets angry。   Five months later, Everbright Securities to the game online exposure。
  September 26, 2017, Everbright Securities issued risk warning notice on Ai Financial Software in the share transfer system: During our review of Ai Rong software information disclosure documents and found that the presence of related party transactions not carry out the decisions, and suspected of capital by related parties and other circumstances which in 2014 –2015 years, the amount of capital borrowed Ai Rong related software for the total occurrence million, associated with the demolition of a total of ten thousand yuan。
  ▲ Source: Ai financial software company announced at the same time, announced that Ai Financial Software fails to perform the above-mentioned circumstances internal decision-making process, did not promptly inform the broker-sponsored, non-compliance with disclosure obligations, in violation of the "national SME share transfer system business rules (Trial ) "," National SME share transfer system listed company information disclosure rules (trial) "," Articles of association "," correlation trading system "and so forth。
  For the above information, the reporter found, Ai financial software for the first time submitted draft report did not disclose。   So, financial information disclosure Ai software meets the relevant provisions?  Well-known lawyer Yan Yiming told reporters, before the Commission had a special governance problems of the use of funds, without a doubt, is illegal use of funds, will have an impact on the business for, and the draft report did not disclose the use of funds of the above, then for enterprises IPO road to greater influence。
  Another lawyer also told reporters that Ai Financial Software undisclosed related party transactions when listed three new board, and the draft report five months after submission of the enterprise, and then disclose the existence of related business transactions did not carry out the decisions and suspicion of capital by related parties and other circumstances, it is legally distinct non-compliance。   It seems, Ai financial software needs to associate circumstances of the transaction were not disclosed, and properly explain to regulators and the public about it。   Two consecutive years of net profit after deduction of non none to ten million in addition to related party transactions, financial software Ai sensitive issue, there are still a concern。   Prospectus, Ai Financial Software 2014 –2016 year revenues were million, million, million, showed an upward trend, especially Ai Financial Software revenues in 2016 compared with mid-2015's operating income increased %。   However, Ai Financial Software 2014 – net profit in 2016 were only million, million, million, after deduction of non return the parent net profit of million yuan, ten thousand yuan。   ▲ Source: Prospectus worth noting that Ai Financial Software net profit after deducting non-recurring gains and losses less, did not reach 30 million yuan for three consecutive years, especially in 2014 and 2015, after deduction of non Ai Financial Software not even the $ 10 million net profit to。   An investment bank who declined to be named, said the SFC IPO audit board, small board and GEM have different performance requirements。 Net profit scale is too small, resulting in the issuance examination committee will focus on issues of the issuer's ability to sustained profitability。
All along, the net profit of 30 million yuan of the scale is generally regarded as regulators review the IPO process set in an invisible red line。
  In addition, Ai Financial Software 2014 – 2016 total profit for the million, million, million, of which operating income, respectively million, million, million, accounting for% of current total profit,%%。   At the same time, Ai Financial Software 2014 – Net cash flow from operating activities in 2016 were million – million, million, net cash flow from mid-2015 in which Ai Financial Software generated from operating activities compared with 2014 decreased million, a decrease of%。   (International Finance News reporter Deng Elton)。