On January 9, the Shenzhen Stock Exchange issued a regulatory letter to Ciwen Media Co., Ltd.: According to the administrative supervision measures decision of the Jiangxi Securities Regulatory Bureau and the facts ascertained by the Shenzhen Stock Exchange, the company has the following problems:
1. Ciwen Media 2022 Annual Report Failure to accurately disclose the purchase amount data of the top five suppliers in strict accordance with the provisions of Article 25, Paragraph 1, of the "Guidelines for the Content and Format of Information Disclosure by Companies that Offer Securities to the Public No. 2 - Content and Format of Annual Reports".
2. The company’s long-term equity investment book balance at the end of 2022 was 6.0659 million yuan, which held 20% equity of Linghe Film and Television Production (Shanghai) Co., Ltd. and 30% equity of Chengdu Panyu Times Culture Communication Co., Ltd. respectively. There are signs of impairment in the two relevant long-term equity investments, but the company did not assess the recoverable amount of the relevant assets at the end of 2022, which does not comply with the provisions of Article 6, paragraph 1, of "Accounting Standards for Business Enterprises No. 8 - Impairment of Assets".
3. There are flaws in the company’s 2022 financial statement disclosure. Among them, transactional financial assets of RMB 1,003,100, debt investments of RMB 7,118,000, and contract liabilities of RMB 27,254,600 were inaccurately listed in the statement items. Other receivables, inventory depreciation provisions, and other payables were inaccurately disclosed in the notes to the statements. . The company's relevant actions violated the provisions of Articles 1.4 and 2.1.1 of the Exchange's Stock Listing Rules.
Shenzhen Stock Exchange urges Ciwen Media and all directors, supervisors and senior managers to learn lessons seriously, and reminds the company and all directors, supervisors and senior managers to strictly abide by the Securities Law, Company Law and other laws and regulations, as well as the Exchange's " Stock Listing Rules" and related regulations, fulfill information disclosure obligations truthfully, accurately, completely, timely and fairly, and prevent such incidents from happening.
Ciwen Media was founded in 2000 and entered the Chinese A-share market in November 2015. Mainly engaged in the investment, production, distribution and derivative business of film and television dramas, mobile casual game research and development promotion and channel promotion business, and artist brokerage business.
company has produced dramas such as "The Legend of the Condor Heroes", "The Legend of the Condor Heroes", "A Thousand Bones of Flowers", "Old Nine Gates", "The Legend of Chu Qiao", "The Glory Era" and "Trident".
In February 2019, state-owned assets became a shareholder, Huazhang Investment Group, a subsidiary of Jiangxi Publishing Group, took control of it, and the Jiangxi Provincial People's Government became the actual controller.
From January to June 2023, Ciwen Media’s operating income composition is as follows: film and television and drama industry accounted for 99.63%, and others accounted for 0.37%.
Xiaoxiang Morning News Comprehensive
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