news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

source: sina securities

produced by: sina finance listed company research institute

author: xia chong studio/qiu song

recently, qinchuan iot issued a restructuring announcement.

according to the announcement, qinchuan wulian recently signed an "equity acquisition intention agreement" with chengdu pivot technology co., ltd. (hereinafter referred to as "pavot") and its major shareholders huang xi, huang jie, wang mi, etc. the company plans to acquired 60% equity of pivot in cash. the proportion of equity transfer and the transaction price shall be determined by separate negotiations and the signing of a formal acquisition agreement by all parties. after the completion of this transaction, qinchuan wulian will become the controlling shareholder of paiwater.

designing a plan to "explode" the balance sheet to avoid audits? whether to improve sustained profitability

public information shows that qinchuan wulian was established in 2001, and the company successfully passed the ipo and landed on the science and technology innovation board in july 2020. the company is mainly a high-tech enterprise engaged in the research and development, manufacturing, sales and service of smart gas meters and internet of things system software. its main products are ic card smart gas meters, iot smart gas meters, membrane gas meters and industrial and commercial gas meters. among them, the internet of things smart gas meter is the company's basic business. in the first half of 2024, the company's internet of things smart gas meter contributed revenue of 94.2445 million yuan, accounting for 69.84% of the total revenue.

it is worth noting that the company's earnings quality is poor. eagle eye warning shows that from 2021 to 2023, the ratio of the company's accounts receivable to operating income is 76.95%, 66.14%, and 73.25% respectively. does this mean that the company's revenue scale depends largely on receivables?