Meiteng Technology Responds to SSE Inquiry, Explains Major Deviation Between Earnings Forecast and Annual Report Data

Regulation
โดย 南方财经网·Read original
Summary · why it matters

Meiteng Technology recently replied to the Shanghai Stock Exchange's annual report regulatory inquiry letter, explaining the reasons for the significant deviation between its earnings forecast, preliminary earnings estimate, and annual report data. The company's early 2026 earnings forecast and the preliminary estimate at the end of February both projected a profit, but the revised estimate and annual report in April turned to a loss. The core reason was an additional individual provision for credit impairment of 21.9083 million yuan on receivables from projects for four customers: Shaanxi Tengda Zhixuan, Fugu Tongdayuan, Hunan Hanrui, and Nanchong Lipeng. These customers' terminal operations have stalled, and they have continued to default on payments after judicial mediation. At the annual report stage, based on the principle of prudence, new material objective evidence of impairment was added and individual provisions were calculated and supplemented. The company stated that at the end of 2024, there were no obvious signs of bad debts for these customers, and only an aging-based collective provision was made that year. There was no situation of insufficient prior provisioning or concentrated provisioning to adjust profits. The accounting treatment complies with standards. The company also stated that its financial internal controls have been generally effective since listing, and it has implemented rectification plans for loopholes such as delayed impairment forecasting.

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Others▼ · 1 stocks

Off-coverage companies 4

南充力朋Private▼ Negative
Demandrelevance

Customer Nanchong Lipeng's terminal operations stalled and defaulted on payments, causing impairment.

府谷同达源Private▼ Negative
Demandrelevance

Customer Fugu Tongdayuan's terminal operations stalled and defaulted on payments, causing impairment.

湖南汉瑞Private▼ Negative
Demandrelevance

Customer Hunan Hanrui's terminal operations stalled and defaulted on payments, causing impairment.

陕西腾达智选Private▼ Negative
Demandrelevance

Customer Shaanxi Tengda Zhixuan's terminal operations stalled and defaulted on payments, causing impairment.

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