从关注函内容来看，交易所担忧宋城演艺此番突击“换会计” 与花房集团股权投资计提事项有关。在1月30日发布的业绩预告中，宋城演艺拟计提花房集团长期股权投资减值准备8.6亿元-9亿元，直接导致公司全年业绩由盈转亏。① The Songcheng Performing Arts Accounting Firm attracted the attention of the exchange; ② The exchange was concerned that the company and the auditor had major differences over Huafang Group's equity calculation; ③ the company's impairment of Huafang Group's equity calculation was 860 million yuan to 900 million yuan, leading to anticipated losses in 2023; ④ surprise “accounting changes”. Investors are worried about whether this calculation conceals other risks.
Financial Services Association, Feb. 21 (Reporter Luo Yichen) Just a few days after disclosing the 2023 performance forecast, Song Cheng Entertainment (300144.SZ) announced plans to change the accounting firm, but the announcement coincided with the eve of the Spring Festival and did not attract widespread attention. Until this evening, the exchange's letter of concern about this matter came to light, and the “change of accounting” finally came to fruition.
This evening, Song Cheng Entertainment announced that it received a letter of concern from the exchange regarding the proposed change of the 2023 audit agency from Lixin Certified Public Accountants (“Lixin”) to CITIC Certified Public Accountants (“CITIC”). The exchange's focus was on “whether the company and Lixin Institute have significant differences on accounting processing matters related to 2023.”
Judging from the content of the letter of concern, the exchange is concerned that Song Cheng Performing Arts's surprise “accounting exchange” is related to Huafang Group's equity investment calculation matters. In the performance forecast released on January 30, Songcheng Entertainment plans to prepare 860 million yuan to 900 million yuan for the impairment of the long-term equity investment of the Jacquard House Group, which directly caused the company's annual performance to change from profit to loss.
According to reports, Songcheng Entertainment's shareholding ratio in Huafang Group is 35.35%. As of the end of 2022, the book value of Songcheng Performing Arts's long-term equity investment in Huafang Group was 1,757 billion yuan. After this calculation, the book value of this investment has shrunk by about half, but whether the remaining half is at risk has also raised concerns among many investors.
Investors' concerns about whether the current calculation is conservative are not out of nowhere. It should be noted that Lixin issued reservations on the 2022 annual report of Songcheng Performing Arts due to the freezing of some accounts of Huafang Group. The reason is that the case involving Huafang Group is under investigation and it is not possible to obtain relevant details. However, since then, the collaboration between Song Cheng Performing Arts and Lixin Institute has continued, and it seems that it was not affected by this reservation. The surprise “change of accounting” drama did not take place until the 2023 annual report was about to be revealed.
The cooperation between Song Cheng Performing Arts and Lixin Institute has a long history. The first annual report issued by the company after listing in 2010 was audited by Lixin Institute, and the two sides have been cooperating for more than ten years. The replaced Zhongxi branch was far less than that of Lixin in terms of scale and fame. As of the end of 2022, Lixin had 2,392 certified public accountants, and the number of CICC shareholders was 342.
