Blue Shield Shares (300297), a former leader in the information security industry, has now stepped off the altar, following the previous quagmire of "bankruptcy + delisting", and has recently been investigated by the SECURITIES Regulatory Commission for suspected information disclosure violations.
Suspected information disclosure violations were investigated by the CSRC
On the evening of December 29, Blue Shield announced that the company received the "Notice of Case Filing" from the CSRC on December 29, 2021, because the company was suspected of violating laws and regulations on information disclosure, in accordance with the Securities Law of the People's Republic of China, the Administrative Punishment Law of the People's Republic of China and other laws and regulations, the CSRC decided to file a case against the company.
In this regard, Blue Shield said that the above matters will not have an impact on the company's normal business activities. The Company will actively cooperate with the CSRC's investigation and will continue to pay attention to the progress of the above matters.
Founded in 1999, Blue Shield has been focusing on the field of network information security since its establishment, with the strategic vision of "international first-class information security enterprise", and is committed to becoming the leader of intelligent security in China. The company has built a complete business ecology based on security products, covering security solutions, security services and security operations, and provides customers with one-stop information security overall solutions.
Or due to the company's 2020 annual report disclosure violations
Securities Times · e company reporter inquired about the company's past announcements found that the 2020 annual financial report of Blue Shield co., LTD. was issued a qualified opinion by the audit agency, and the audit agency believed that some of the prepayments of the Blue Shield co., Ltd. zhongjing Huitong E-commerce Co., Ltd. had not been carried forward or recovered for a long time, and the audit agency could not obtain sufficient and appropriate evidence to judge the recoverability of the above funds, and there were also abnormal capital transactions in the companies under the Blue Shield co., Ltd.
In addition, on September 24, 2021, Blue Shield shares and its controlling shareholder, Ke Zongqing, received a warning letter from the Sichuan Regulatory Bureau of the CSRC. According to the warning letter, after investigation by the regulatory authorities, Blue Shield disclosed the "2020 Annual Performance Forecast" on January 29, 2021, and the net profit in 2020 is expected to be 20 million yuan to 30 million yuan. On April 30, 2021, the Company disclosed the "2020 Annual Results Forecast Amendment Announcement", which revised the 2020 annual net profit to a loss of 1.05 billion yuan to 1.1 billion yuan, mainly due to the provision for impairment of goodwill and fixed assets, and the provision for bad debts for accounts receivable. On April 30, 2021, the company's 2020 annual report disclosed a net profit of 1.093 billion yuan. The disclosure of the forecast results is inaccurate.
The regulatory authorities believe that the above-mentioned acts of Blue Shield shares violate the relevant provisions of the Measures for the Administration of Information Disclosure of Listed Companies, and the Sichuan Securities Regulatory Bureau decided to take administrative supervision measures of issuing a warning letter to Blue Shield shares and record them in the integrity file of the securities and futures market.
The warning letter also shows that after investigation, the "Indicative Announcement on the Risk of Forced Liquidation and Passive Reduction of Some Shares Held by the Controlling Shareholders of the Company" disclosed by Blue Shield Shares on July 21, 2021, Ke Zongqing, as the controlling shareholder of the company, held 5.5788 million shares of the company's shares were forcibly liquidated, with a total reduction amount of 29.52 million yuan, and the number of shares reduced accounted for 0.45% of the company's total share capital. Ke Zongqing failed to perform the pre-disclosure obligation for the above-mentioned passive liquidation matters. The above conduct violates the Several Provisions on the Reduction of Shares Held by Shareholders, Directors, Supervisors and Gao of Listed Companies and the Measures for the Administration of Information Disclosure of Listed Companies.
In this regard, the Sichuan Securities Regulatory Bureau decided to take administrative supervision measures against Ke Zongqing by issuing a warning letter and recorded it in the integrity file of the securities and futures market.
In response to the company's above-mentioned violations in the information disclosure of the 2020 annual report, on October 21, 2021, Blue Shield Announced that the Shenzhen Stock Exchange decided to impose a public reprimand on Blue Shield shares and its related parties.
The Shenzhen Stock Exchange believes that the actual performance of Blue Shield Shares in 2020 is more than 1 billion yuan different from the previous performance forecast and the nature of profit and loss has changed, and the company should disclose the amendment announcement of the performance forecast before January 31, 2021 in accordance with the regulations, but the company did not disclose the relevant performance revision announcement until April 30, 2021, and Blue Shield shares failed to disclose the revision of the performance forecast in a true, accurate, complete and timely manner, in violation of the relevant regulations of the Shenzhen Stock Exchange. Therefore, Blue Shield Information Security Technology Co., Ltd. was given the sanction of public condemnation, and at the same time, The then chairman of Blue Shield Information Security Technology Co., Ltd., Ke Zongqing, then president, and Jing Li, then chief financial officer, were given the sanction of public condemnation.
Blue Shield shares are plagued by negative events
It is worth mentioning that in addition to negative events such as information disclosure violations and annual reports being issued with qualified opinions, Blue Shield shares have also encountered various other negative events this year.
On July 30, Blue Shield issued the "Indicative Announcement on the Company's Application for Bankruptcy Liquidation and the Risk Warning on Possible Delisting", showing that the company received the "Notice" numbered (2021) Yue 01 Breaking Shen No. 367 and 368 issued by the Guangzhou Intermediate Court. According to the Notice, the applicants, Cai Bin and Li Anping, respectively, applied to the Guangzhou Intermediate Court for bankruptcy liquidation of the company on the grounds that the respondent Blue Shield shares could not pay off their debts as they became due. Blue Shield said that the Guangzhou Intermediate Court will hold a hearing on the above matters on August 3, and has not yet accepted the above application of the applicant. If the company's bankruptcy liquidation application is accepted by the court, the company will enter the bankruptcy liquidation procedure, and according to the relevant regulations of the exchange, the company's stock trading will be delisted risk warning.
On September 22, Blue Shield shares released the latest bankruptcy liquidation progress so far, saying that in view of the fact that the company's registered address has been changed to "No. 15, Building 72, Jinrun Industrial Park, Gaochang Town, Xuzhou District, Yibin City, Sichuan Province", the registration authority is the Yibin Municipal Market Supervision and Administration Bureau, and the Guangzhou Intermediate People's Court believes that it does not have jurisdiction according to the relevant laws and regulations, and hereby makes the following ruling to reject the application of Cai Bin and Li Anping.
In addition, in June this year, United Credit reduced the credit rating of Blue Shield shares and bonds from AA- to BBB-, with a negative outlook. In July, some of the shares held by Ke Zongqing, the controlling shareholder and actual controller of Blue Shield Shares, were forcibly liquidated and sold 5,578,797 shares by the pledgee CITIC Securities, resulting in a passive reduction of holdings, accounting for 0.45% of the company's total share capital.
In the first three quarters of this year, Blue Shield achieved a total revenue of 277.6 million yuan, down 61.26% year-on-year, and a net profit loss of 944 million yuan, down 851.33% year-on-year.
As of December 29, the stock price of Blue Shield shares was 3.66 yuan / share, which has fallen by 26% so far this year, and the current total market value of the company is 4.574 billion yuan.
