digitalbingo| The cooperation intention fund of 200 million yuan cannot be recovered!

Nan Shen, a reporter from China Fund News.

On the evening of April 16, Supernews Communications (Rights Protection) announced that in view of the fact that the cooperation intention of the Lanzhou Science and Culture Brigade, the signatory to the company's Strategic Cooperation Agreement, had not been returned after the expiration of the payment period, the company filed a lawsuit with the Guangzhou Intermediate people's Court on April 8, 2024 and received the "notice of accepting the case" served by the court on April 15, 2024.

The principal of the company's cooperation intention is 200 million yuan, plus interest 2.Digitalbingo.1.8 billion yuan. According to the financial report, the company's net profit in 2022 was only 15.19 million yuan, and as of the end of the third quarter of last year, the company's book currency capital was only 192 million yuan.

The company stresses that the cooperation intention money involved in this lawsuit is provided by the controlling shareholder Liang Jianhua's related party, and the "loan Agreement" signed between the company and Liang Jianhua stipulates that the company will recover the cooperation intention money and capital occupation fee. Before repaying the corresponding loan principal and interest to Liang Jianhua, the final impact on the financial statements shall prevail on the audited financial data of the company.

However, when signing the above strategic cooperation agreement in July 2022, the company also stated that "if the above cooperation intention money is not recovered as scheduled, the loss will be borne by Mr. Leung Jianhua or his designated party."

Who bears the loss?Digitalbingo?

According to the announcement, Chaoxun Communications and Lanzhou New area Science, Technology and Culture Tourism Group Co., Ltd. (referred to as "Lanzhou Science and Culture Tourism Group Co., Ltd.") signed the Strategic Cooperation Framework Agreement and the Supplementary Agreement of the Strategic Cooperation Framework Agreement on July 28, 2012. the two sides established a cooperative relationship on the data center project of big data Industrial Park in Lanzhou New area.

The agreement stipulates that Supernews Communications will pay 200 million yuan of cooperation intention money to Lanzhou Science and Culture Brigade, and the latter will rigidly pay all the intention payment received no later than 12 months from the date of receipt of the full cooperation intention payment, and pay an annualized 5.3% fund occupation fee according to the actual time occupied by the funds.

Supernews Communications fulfilled its obligation to pay 200 million yuan of cooperation intention money to Lanzhou Science and Culture Brigade on September 16, 2022. According to the agreement, Lanzhou Science and Culture Brigade should return 200 million yuan of cooperation intention money to Lanzhou Science and Culture Brigade on September 15, 2023, and pay the fund occupation fee according to the actual time occupied by the funds. However, up to now, more than half a year has passed, Lanzhou Science and Culture Brigade has still not returned 200 million yuan of cooperation intention money and corresponding fund occupation fees to over-messaging communications.

WeChat Communications repeatedly demanded money from the defendant through lawyer letters, telephone calls, Wechat, and so on, without any result or progress. The company said that the other party's refusal to return 200 million yuan of cooperation intention money has constituted a serious breach of contract and filed a lawsuit in court for this.

The principal and interest of more than 200 million yuan is not a small number of over-messaging communications whose performance has been losing money from time to time in recent years. The gross profit of the company in 2020 and 2021 is less than 170 million yuan, the net profit is-230 million yuan and 15.19 million yuan respectively, and the non-net profit is-261 million yuan and-104 million yuan respectively. By the end of the third quarter of 2023, the money on the company's account was less than 200 million yuan.

In this announcement, the company stressed that the cooperation intention money involved in this lawsuit was provided to the company by the controlling shareholder Liang Jianhua related party Guangzhou Particle Microelectronics Co., Ltd., in view of the "loan agreement" signed between the company and Liang Jianhua, the company will repay the corresponding loan principal and interest to Liang Jianhua only after the cooperation intention money and capital occupation fee have been recovered. It is expected that this lawsuit will not have a significant adverse impact on the company's current or post-period profits, and the final impact on the financial statements will be based on the audited financial data of the company.

However, on July 9, 2022, when the company announced the signing of the strategic cooperation framework agreement with Lanzhou, it was also stated that, "in order to demonstrate business confidence and avoid the risk of losses to minority shareholders, Mr. Liang Jianhua, the company's controlling shareholder, or his nominee will provide the company with the funds, and if the above cooperation intention money is not recovered on time, it will be borne by Mr. Liang Jianhua or his designated party".

The two sides also signed a big contract of 876 million yuan.

Lanzhou Kewen Brigade is a first-class local state-owned enterprise controlled by the Finance Bureau of Lanzhou New area. In a survey conducted in July last year, the company also said that the company had signed a "Strategic Cooperation Framework Agreement" with Lanzhou Science and Culture Brigade, and would copy and promote the successful experience of the Lanzhou project in the future. we will actively strive for cooperation opportunities for data center construction projects in other nodes in the western region.

But unexpectedly, only two months later, it was exposed that 200 million yuan of cooperation intention money could not be recovered.

According to the announcement in July 2022, Chaoxun Communications also obtained two data room construction projects whose end customer is Lanzhou Science and Technology Brigade through a third party subcontract, and signed "Lanzhou New District big data Industrial Park Phase II Project Power system and AHU cooling system equipment purchase Agreement" and "Lanzhou New area big data Industrial Park (Phase II) Project data computer Room equipment purchase contract" respectively. The total amount of the above contract is about 876 million yuan.

How is the progress of the above contract? Does it generate accounts receivable and bad debts? It is also a cause for concern.

The data show that the main business of overcom includes communication network technical services, system integration, equipment sales and leasing, etc., listed on the main board of the Shanghai Stock Exchange in July 2016, the actual controller is Liang Jianhua (26.83%). The latest market capitalization of the company is about 4.336 billion yuan.

Audit: wooden fish

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