In more than 3 years, the whole process from listing to delisting was completed in one go
Bauhinia Storage, listed in February 2020, delisted in July 2023, completed the gorgeous turn from listing to delisting in 3 and a half years! The listing raised nearly 900 million funds, and it was just like that.
The reason for delisting is due to fraudulent issuance, financial fraud, illegal guarantees, illegal disclosure regulations, etc. The SSE carried out disciplinary punishment, even the CSRC, only imposed fines, especially the chairman of the board of directors who organized financial fraud and fraudulent issuance only fined more than 15 million, which is simply insignificant compared to the more than 900 million raised and the funds to reduce holdings and cash out!
Is financial fraud and fraudulent issuance a general violation or an economic crime? In my opinion, it is a complete fraud and a huge amount! Sponsoring brokers and related intermediaries are accomplices of fraud!
Before reading the annual report of Bauhinia Storage, I estimated that before the listing in 2020, the annual profit increased, and after the listing, it began to lose money and the performance plummeted. I looked through the annual report and it was true!
It's really funny, it turns out that listing and financing have become the standard for many companies to start losing money! Circled the money, but began to lose money!
Financial fraud→ listing circle money→ reducing holdings to cash out→ profit transmission→ loss delisting→ starting a new stove→ re-listing →...
Children and grandchildren, endlessly.
