300 million deposits "Rashomon" concern letter is coming! The exchange is highly concerned about the situation for a limited time of one week

Source: China Securities News

Due to the fact that "nearly 300 million yuan of deposits were inexplicably pledged", Keyuan Wisdom received a letter of concern from the Shenzhen Stock Exchange.

On the evening of November 15, Keyuan Wisdom exposed that nearly 300 million yuan of its deposits deposited in the Nantong branch of Shanghai Pudong Development Bank were inexplicably pledged, which caused great concern from the outside world. On November 17, the Shenzhen Stock Exchange issued a letter of concern, requiring the company to carefully check and explain the specific circumstances of the pledge of wealth management products in the Nantong branch of Shanghai Pudong Development Bank.

(Image source: company announcement)

The Shenzhen Stock Exchange requires Keyuanzhi to explain the specific circumstances of the company's pledge of wealth management products at the Nantong Branch of SPDB, including but not limited to the reasons for the pledge, the object of the guarantee, the time of the pledge, whether the pledge procedures are complete, whether the object of the guarantee is related to the company, the company's directors, supervisors, and more than 5% of the shareholders, and whether there are major defects in the internal control management of the company's official seal.

At the same time, the Shenzhen Stock Exchange asked The Senior Consultative Board to ask the annual audit accountant to combine the company's reply to the bank deposit inquiry letter at the end of 2020 to add whether the relevant audit procedures are sufficient, whether the audit evidence obtained is accurate, and whether the disclosure of the company's 2020 annual report on the pledge status of bank deposits is true and accurate.

In addition, the Shenzhen Stock Exchange requires Keyuan Wisdom to combine the company's monetary fund balance at the end of the third quarter of 2021 to explain whether the company's time deposit wealth management products have not been redeemed when they are due, and whether there is a significant impact on the company's daily operations.

The announcement shows that the Shenzhen Stock Exchange is highly concerned about this and requires Keyuan Wisdom to make a written explanation, submit the relevant explanatory materials to the Shenzhen Stock Exchange and disclose it to the outside world before November 25, 2021, and send a copy to the dispatch agency.

Nearly 300 million yuan of deposits were inexplicably pledged

On the evening of November 15, Keyuan Wisdom announced that the 40 million yuan time deposit of Nanjing Keyuan, a wholly-owned subsidiary of the company, was not redeemed when due, and it was found that nearly 300 million yuan of deposits deposited by Nanjing Keyuan into the Nantong branch of Shanghai Pudong Development Bank were used as pledges without their knowledge.

According to the announcement of Keyuan Wisdom, the company's 40 million yuan time deposit was used as a pledge guarantee for the bank acceptance draft issued by Nantong Ruihao International Trade Co., Ltd. on November 10, 2020, and at present, due to the failure of Nantong Ruihao International Trade Co., Ltd. to repay the debt on time, the company's 40 million yuan time deposit has not been redeemed in time.

In addition, after self-examination, Keyuan Wisdom found that in addition to the 40 million yuan that had expired and could not be redeemed, nanjing Keyuan, a wholly-owned subsidiary of the company, had pledged 255 million yuan of unmature deposits of 345 million yuan of fixed deposits purchased by the Nantong branch of Shanghai Pudong Development Bank.

In this regard, Keyuan Wisdom said that the company's management actively communicated with SPDB for the first time to collect the redemption payment of the above products, and reported the case to the police and the Jiangsu Supervision Bureau of the China Banking and Insurance Regulatory Commission on November 15.

Spousal Development Bank responded urgently to the matter on the night of The Corow Wisdom Announcement (November 15).

The person in charge of the Nanjing branch of SPDB said that the Nantong branch of SPDB and Nanjing Keyuan Smart Energy Investment Company do have business relationships such as deposits. Recently, the company made inquiries about its deposit and other business related to the Nantong branch. In order to protect the rights and interests of banks and customers in accordance with the law and find out the truth, the Nantong Branch of SPDB has made a criminal report to the public security organs on November 15 and provided relevant business information while carrying out investigations. Subsequently, SPDB will actively cooperate with the investigation work of the public security organs and effectively safeguard the legitimate rights and interests of relevant parties.

After Keyuan Wisdom was exposed to nearly 300 million yuan of deposits being inexplicably pledged, CSI Jun also contacted Wang Weimin, a major shareholder of 70% of the shares held by the third party Nantong Ruihao International Trade Co., Ltd. at the first time.

Wang Weimin said that he has never participated in the operation of Nantong Ruihao, nor has he served in the company. "Nantong Ruihao was the company I first bought for a friend", and said that he was also unaware of Nantong Ruihao's use of Keyuan Wisdom Deposit as a guarantee pledge.