A company suspected of having false clients and violating labor regulations is rushing on the road to A-share IPOs!
Recently, Tianyi Medical intends to go public on the Shanghai Stock Exchange, and its sponsor institution is Haitong Securities. According to Tianyi Medical's prospectus application materials, Tianyi Medical's sales revenue to Shanghai Fresenius in 2016 was 9.141 million yuan, a year-on-year increase of 99.99%.
But Shanghai Fresenius sales staff denied the above statement. "Our company has its own factory, and everything is self-produced." On May 9, Shanghai Fresenius sales staff said to the IPO daily.
This made the reporter extremely surprised! Is Shanghai Fresenius saying a lie, or is there a false disclosure in the prospectus of Tianyi Medical?
If Shanghai Fresenius said that the situation is true, then Tianyi Medical is suspected of fictitious customer situation, and its sales figures are suspected of fraud.
In order to understand the real situation, the reporter repeatedly called Tianyi Medical, but his phone was not answered. As of press time, the IPO Daily did not receive an email reply to Tianyi Medical.
At the same time, the IPO Daily reported that Tianyi Medical still has a series of problems: such as the use of labor dispatch and the excessive concentration of equity.
Suspicious "big customer"
Tianyi Medical’s filings are puzzling, and its declaration shows that “in 2016, the company’s sales revenue to Shanghai Fresenius was 9.141 million yuan, a year-on-year increase of 99.99%.â€
Based on this calculation, the transaction volume between the two parties should be about 4.57 million yuan in 2015. Tianyi Medical's filings show that in 2014, among the top five customers, Shanghai Anqida Medical Devices Co., Ltd. ranked fifth with a purchase of 6.215 million yuan, while Shanghai Fresenius is not in its top five. Among the customers, its sales to Shanghai Fresenius in 2014 should be less than 6.215 million.
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