On the evening of January 7, Xingyuan Environment (300266) announced that the company had received an "Administrative Penalty Decision" and was fined 2 million yuan. According to statistics from Beijing Business Daily reporters, in the first week of 2024, 7 stocks, including Jin Tongling, Sunhai Intelligent, Jinlitai, and Yanhua Intelligent, have received "Administrative Penalty Decisions" issued by the China Securities Regulatory Commission or local securities regulatory bureaus. . Looking at the reasons why the above-mentioned stocks were fined, financial fraud was the main reason. Five stocks received fines due to financial fraud. From the company's perspective, the largest fine was Sunsea Intelligent, which was fined 4 million yuan.
7 shares were subject to administrative penalties
In the first week of 2024, 7 shares have received the "Administrative Penalty Decision Letter".
Judging from the latest date, on the evening of January 7, Xingyuan Environmental Disclosure Announcement stated that the company received the "Administrative Penalty Decision" issued by the Zhejiang Securities Regulatory Bureau. After verification, the company's wholly-owned subsidiary Hangzhou Zhongyi Ecological Environment Engineering Co., Ltd. had inflated project income and costs in 2016 and 2017 in the Changxing County Beautiful Town (Tender Section 1 and 2) PPP project and the Wenzhou Dongtou District Main Island Marine Ecological Corridor Regulation and Restoration Project PPP project. , resulting in false records in the financial data and related disclosures of listed companies' annual reports from 2016 to 2022.
Among them, the 2016 annual report had an inflated operating income of 90.6309 million yuan and a total inflated profit of 22.0207 million yuan. The 2017 annual report inflated an inflated operating income of 268.0766 million yuan and an inflated total profit of 36.3686 million yuan, which also affected the relevant annual reports from 2016 to 2022. There are false records in the amounts of assets and liabilities, and the amounts of assets and liabilities in the annual report.
In response, the Zhejiang Securities Regulatory Bureau decided to order Xingyuan Environment to make corrections, give a warning, and impose a fine of 2 million yuan; the financial director Sun Ying was given a warning and a fine of 800,000 yuan.
It is understood that Xingyuan Environment was previously a listed company under Liu Yonghao. However, in March 2023, the listed company changed owners and the actual controller was changed to the Finance Bureau of Fenghua District, Ningbo City. In response to related questions, a reporter from Beijing Business Daily called the office of the Secretary of the Board of Directors of Xingyuan Environment for an interview, but no one answered.
According to statistics, in addition to Xingyuan Environment, from January 1 to 7 this year, 6 stocks including Jin Tongling, Sunhai Intelligent, Jinlitai, Yanhua Intelligent, Ruyi Group, and Zitian Technology also received CSRC or A fine issued by the local securities regulatory bureau.
Judging from the reasons for punishment, four stocks including Jin Tongling, Sunhai Intelligent, Jinlitai, and Yanhua Intelligent were also involved in financial fraud.
Sunsea Intelligent has the highest fine
Judging from the amount of fines imposed on the company, Sunsea Intelligent has the highest fine of 4 million yuan.
html On January 4, Sunsea Intelligent disclosed that it had received the "Administrative Penalty Decision" issued by the Shenzhen Securities Regulatory Bureau. It was found that Sunsea Intelligent had errors in the accounting of the amount of goodwill impairment, errors in the accounting of the equity disposal income of the subsidiary, Chongqing China Unicom's accounting errors for IDC projects and major financing component projects have led to errors in the accounting of main business income, main business costs, financial expenses, credit impairment losses and other accounting items.The impact of the above-mentioned matters on the total profit of Sunsea Intelligent from 2018 to 2021 was an inflated increase of 33.4332 million yuan, an inflated increase of 3.6829 million yuan, an inflated increase of 8.7812 million yuan, and an inflated decrease of 30.1419 million yuan, respectively. The 2021 annual report disclosed 37.58%, 5.13%, 1.5%, and 348.41% of the total profit.
In response, the Shenzhen Securities Regulatory Bureau ordered Sunsea Smart to make corrections, gave it a warning, and imposed a fine of 4 million yuan; in addition, the relevant responsible persons Ma Yufeng, Song Deliang, Yu Ming, Liu Ping, Ding Yigui, Yang Zixiang, and Yang Tao were Others were given warnings and fines ranging from 500,000 to 1 million yuan.
According to statistics, Jinlitai, Yanhua Intelligent, and Ruyi Group were each fined 2 million yuan; Jin Tongling was fined 1.5 million yuan; and Zitian Technology was fined 500,000 yuan.
Among them, Zitian Technology, which was fined the least, failed to disclose the freezing of shares of its controlling shareholder in a timely manner and was not involved in financial fraud.
3 people were banned from the securities market
Among the above-mentioned fines, three people were banned from the securities market, all of whom were related personnel of Ruyi Group.
html On January 5, Ruyi Group disclosed an announcement stating that the company and relevant parties received the "Administrative Penalty Decision" and the "Market Exclusion Decision". It was found that from January to June 2019, Ruyi Group used fictitious documents to communicate with Yu Long Group Co., Ltd., Qingdao Yulong Dongyong International Logistics Co., Ltd. and Zhangjiagang Free Trade Zone Shenghui Guanghe Wool Cotton Co., Ltd. purchased business and paid advance payments to the above three companies, and finally transferred a total of 594 million yuan to the Ruyi Technology Bank account. . The above-mentioned Ruyi Technology’s occupation of Ruyi Group’s non-operating funds constitutes a related transaction, and the amount involved accounts for 21.77% of the audited net assets of the latest period (2018), accounting for the net assets of the 2019 Semi-annual Report and the 2019 Annual Report 21.46%, 21.41%.In response, the Shandong Securities Regulatory Bureau decided to order Ruyi Group to make corrections, give a warning, and impose a fine of 2 million yuan; the actual controller Qiu Yafu was given a warning and a fine of 3.5 million yuan, of which the person in charge who was directly responsible was fined 1.5 million yuan. , as the actual controller, was fined 2 million yuan.
The Shandong Securities Regulatory Bureau also imposed fines ranging from 500,000 to 900,000 yuan on Li Yanbao, Yang Cheng, Hu Junhua, Wang Kelin, Lu Haoran, Huang Liqun, Li Jingxin, Zhang Yiying and other relevant responsible persons.
In addition, the Shandong Securities Regulatory Bureau stated that due to the serious illegal circumstances of the party involved, Qiu Yafu, Qiu Yafu will be banned from the market for 10 years. The parties involved, Zhang Yiying and Du Yuanshu, had serious violations of the law. Zhang Yiying was banned from the market for five years, and Du Yuanshu was banned from the market for three years.
Song Yixin, a lawyer at Shanghai Hanlian Law Firm, told a Beijing Business Daily reporter that during the period of ban, entities banned from the market are not allowed to continue to engage in securities business in the original institution or serve as directors, supervisors, or senior directors of the original listed companies or unlisted public companies. In addition to holding positions as managers, they are not allowed to engage in securities business in any other institution or serve as directors, supervisors, or senior managers of other listed companies or unlisted public companies.
It is understood that Ruyi Group is a well-known enterprise in Shandong Province. Its main business is the design, production and sales of textiles, clothing and apparel. The actual controller of the company, Qiu Yafu, is also known as the "Wool Textile King" of Shandong.
investment and financing expert Xu Xiaoheng said in an interview with a reporter from Beijing Business Daily that the actual controllers, major shareholders and employees of listed companies should strengthen their study of securities laws and regulations, respect the market and investors, and constantly improve the company's governance level. , put an end to illegal activities. "In the current context of severe penalties, listed companies and relevant responsible personnel that violate laws and regulations in the future will have nowhere to hide, and serious cases will be removed from the market. This has become the general trend." Xu Xiaoheng said.
Beijing Business Daily reporter Ma Changchang
