Zhitong Financial APP, * ST West hair (000752.SZ) announcement, the company and relevant responsible persons, controlling shareholders and actual controllers received the decision on Administrative Supervision measures issued by the Tibet Regulatory Bureau of the China Securities Regulatory Commission on August 16, 2023. The relevant decision points out that there are irregularities in the company, including: the calculation of bad debts of large amounts of receivables that have appeared the risk of recovery does not meet the requirements of accounting standards; accounting errors in the accounting of dividends payable by subsidiaries.

According to the announcement, according to the repayment plan issued by Tibet Highland Barley Beer Co., Ltd., Tibet Fudi Natural Beverage Industry Development Co., Ltd., Tibet Fudi Natural Beverage Packaging Co., Ltd., Tibet Tiandi Green Beverage Development Co., Ltd., and the commitment of the controlling shareholders and actual controllers, the company shall set aside the provision for bad debts according to the aging method, and the total amount of provision for bad debts will be 62.5749 million yuan. Accounted for 14.24% of the total receivables mentioned above. The above-mentioned defaulters have not repaid as promised, and the controlling shareholders and actual controllers have not compensated or provided any guarantee as promised, and there have been obvious signs of credit impairment. The annual review institution is unable to express its opinion on whether the provision for bad debts of the above-mentioned receivables is adequate and reasonable. In the absence of effective collection measures and no new performance guarantee, the credit loss calculated through the default risk exposure and the expected credit loss rate in the next 12 months is the same as the expected credit loss of other receivables calculated by the normal age, which does not meet the requirements of "Accounting Standards for Enterprises 22-Financial instrument recognition and Measurement", resulting in inaccurate information disclosed in the 2022 annual report.

In response to the inquiry letter of the annual report of the Shenzhen Stock Exchange, the company disclosed that the subsidiary of Tibet Lhasa Beer Co., Ltd. (referred to as Lhasa Beer) developed to Tibet in 2018 and Shenzhen Jinmai Qingfeng Investment Management Co., Ltd. (referred to as Jinmai Qingfeng) each paid a dividend of 95 million yuan. a total of 190 million yuan. The dividend payment of Jinmai Qingfeng is actually obtained by Sichuan Dachuan High-tech Biotechnology Development Co., Ltd. According to the industrial and commercial registration, the shareholders of Lhasa Beer have always been Tibet Development Co., Ltd. and Carlsberg International Co., Ltd., and Lhasa Beer has listed the distribution of dividends to non-company registered shareholders as profit distribution, which does not meet the provisions of Article 12 of the first basic Accounting Standards for Enterprises.