Disclosure topic / 03
Exchange inquiries ask listed companies to explain unusual numbers, unclear disclosures, regulatory concerns, or matters that investors may not understand from the original filing.
These letters are often where the best questions are asked in public. A careful reply can clarify a story. A vague reply can be just as revealing.
Connected evidence
Lingnan Eco & Culture-Tourism Co., Ltd. · 002717.SZ
Positive operating cash flow sits beside collapsing revenue, a large loss, negative equity, overdue debt, a disclaimer audit opinion and adverse internal-control findings.
Read recordBeijing Oriental Eco-New Energy Co., Ltd. · 002310.SZ
Positive equity returned after restructuring, but losses continued. The proposed renewable-energy purchase would add leverage and goodwill, making its funding and expected cash generation the next test.
Read recordZhongtai Chemical Co., Ltd. · 002092.SZ
After correcting historical revenue and repaying occupied funds, Zhongtai continued to report losses alongside positive operating cash flow. Related-party finance, guarantees, and asset valuations help explain what changed and what remains exposed.
Read recordChina Fortune Land Development Co., Ltd. · 600340.SH
Debt settlements have improved reported results in some periods without restoring operating cash generation. Large contract assets, guarantees, and the unfinished restructuring leave the timing of recovery open.
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