Evening of May 6th，188bet sports betting app download, whose annual report was issued with a qualified audit report with an emphasis on matters section, received an inquiry letter for its annual report from the Shenzhen Stock Exchange，188bet sports betting app download, which just launched a 2.3 billion private placement plan, has once again attracted the attention of the capital market。

The annual report was issued with non-standard opinions, and the 188bet sports betting app download issued a letter of inquiry

188bet sports betting app download 2019 Annual Report Display，The reserved opinion involves the fact that the accountant was unable to make full provision for inventory devaluation for the company's inventory book balance of 62.93 million yuan，AND TO STX FINANCING, LLC’s provision for bad debts in accounts receivable is sufficient、Appropriate audit evidence。

But 188bet sports betting app download still faces many financial problems raised by the Shenzhen Stock Exchange，2019 annual report display，188bet sports betting app download achieved operating income of 21 during the reporting period.8.6 billion yuan，43 year-on-year decrease.81%；Achieve net profit attributable to shareholders of listed companies-39.600 million yuan，Decreased by 262 from last year.32%；Net cash flow from operating activities is 9035.60,000 yuan，Decreased by 84 from last year.48%。Shenzhen Stock Exchange requires 188bet sports betting app download to explain the company’s specific measures to improve operating performance and sustainable operating capabilities。

The reasons for the huge loss in 2019 include the provision for impairment of long-term equity investments of 18.7.3 billion yuan，End of reporting period，188bet sports betting app download’ long-term equity investment balance is 43.7.5 billion yuan，Reasons for Shenzhen Stock Exchange’s asset impairment of 188bet sports betting app download、Questions on timing and other related issues。

At the same time，In advance of huge asset impairment，188bet sports betting app download announced on December 31, 2019 2.Sold Zhejiang Dongyang Haohan Film and Television Entertainment Co., Ltd. (hereinafter referred to as "Dongyang Haohan") for a consideration of 200 million yuan17.64% of the shares to Shanghai Yunfeng Xincheng Investment Center (Limited Partnership) (hereinafter referred to as "Yunfeng Xincheng")，188bet sports betting app download holds Dongyang Haohan 48 after the transfer.13% equity，Dongyang Haohan is no longer included in the financial statements，And Dongyang Haohan’s performance will change in 2019，Only net profit achieved 3262.630,000 yuan，Failed to fulfill performance commitment，The goodwill formed by the acquisition of Dongyang Haohan7.4.9 billion yuan transferred out，Financial report display，The equity compensation income of 66.61 million yuan confirmed in this period is the difference in compensation for the unfulfilled performance commitments for 2019 by Dongyang Haohan’s minority shareholders in accordance with the equity transfer agreement。

It is not uncommon in the capital market to sell subsidiaries at the point of financial reporting to offset performance，The Shenzhen Stock Exchange also requires 188bet sports betting app download to explain the background and purpose of the company’s sale of equity interests in related companies、Is the transaction price fair、Whether the above transaction constitutes a package deal, etc.。

Can the 2.3 188bet sports betting app download fixed increase plan solve the urgent need

In 2019, when there are no works，Removing goodwill and focusing on the main business are the priorities of 188bet sports betting app download，188bet sports betting app download’ capital chain is very tight。

As of December 31, 2019，188bet sports betting app download’ monetary fund balance is 5.5.4 billion yuan，Short-term borrowing is 20.8.7 billion yuan，Non-current liabilities due within one year are 6.6.7 billion yuan，When monetary funds cannot cover liabilities within one year，There is a possibility of a liquidity crisis，Today，188bet sports betting app download is “short of money”。

End of reporting period，188bet sports betting app download interest-bearing liabilities (short-term loans、Non-current liabilities due within one year、Long-term borrowings) account for 57% of total liabilities.49%，The proportion of total assets is 31.34%。188bet sports betting app download 2018、The current ratio in 2019 is 1.04、0.65，Quick ratio is 0.87、0.47，Cash ratio is 0.37、0.12。In addition，Multiple loans were pledged with the company’s equity in subsidiaries and multiple film revenue accounts receivable，Use the company’s multiple self-owned properties as collateral。As of now，The stock pledge rate of 188bet sports betting app download’ controlling shareholders and persons acting in concert exceeds 92%。

Shenzhen Stock Exchange requires 188bet sports betting app download to explain the purpose of related loans、Investment direction and whether the company has debt repayment risks。

While 188bet sports betting app download released its 2019 annual report，188bet sports betting app download announces private placement，188bet sports betting app download plans to use 2.The total non-public offering of 78 yuan/share shall not exceed 8.2.4 billion shares，The total amount of funds raised shall not exceed 22.900 million yuan，After deducting issuance expenses, all the funds raised will be used to supplement working capital and repay loans，188bet sports betting app download will further improve its cash flow situation，Reduce asset-liability ratio。

This time, as a strategic investor, the target of private placement is very gorgeous，Including Alibaba Pictures、Tencent Computer、Sunshine Life、Xiangshan Dachengtianxia、Yuyuan Shares、Minghe Group、Xintai Life Insurance、Sanli Jingkong、Shandong Jingda nine companies，Ali、Tencent、Fasx Galaxy and other big-name capital groups showed up，And all the issuance targets subscribed for the shares in this issuance in cash。

In the case of tight financial liquidity，188bet sports betting app download’ cash flow statement also attracted the attention of the Shenzhen Stock Exchange，188bet sports betting app download 2018、2019 Annual Sales Items、The cash received from providing labor services was 51.7.5 billion yuan、30.6.9 billion yuan，respectively are 1% of the current operating income.33 times、1.4 times，Shenzhen Stock Exchange requires 188bet sports betting app download to explain，Products for sale、The rationality of the relationship between cash received from providing services and operating income，Is there any fund lending situation。

*Source of this article: Beijing News, Author:Zhang Yandi, original title：《188bet sports betting app download’ annual report was issued with non-standard opinions，Shenzhen Stock Exchange inquiry letter follows》.