The radio and television network was suspected of violating laws and regulations, and the management just wanted to increase its holdings of 600,000 yuan of its own shares

Reporter |

Radio and Television Network (600831. SH) ushered in negative news on the evening of December 25. On the same day, the company received the "Notice of Case Filing" issued by the China Securities Regulatory Commission, and the China Securities Regulatory Commission decided to file a case against the company due to the company's suspected illegal information disclosure, in accordance with the "Securities Law of the People's Republic of China", "Administrative Punishment Law of the People's Republic of China" and other laws and regulations. Radio and Television Network said that the company's business activities are currently carried out normally. During the investigation, the company will actively cooperate with the relevant investigation work of the China Securities Regulatory Commission, and fulfill the information disclosure obligations in a timely manner in strict accordance with the provisions of relevant laws and regulations and regulatory requirements.

According to the data, the radio and television network was established on August 18, 1992, the listing date is February 24, 1994, the main business is the planning, construction and operation and management of the radio and television network, the company's controlling shareholder is Shaanxi Radio and Television Financial Media Group Co., Ltd., and the actual controller is the Propaganda Department of the Shaanxi Provincial Party Committee of the Communist Party of China. The radio and television network will suffer a loss in 2023, with an operating income of 1.772 billion yuan in the first three quarters, a year-on-year decrease of 16.81%, a net profit of -52.768 million yuan, and a non-net profit of -67.1662 million yuan, all of which turned from profit to loss. As for the loss, the radio and television network said in the third quarterly report that it was mainly due to the decrease in operating income, financial expenses and the increase in credit impairment losses.

Source: Announcement

Previously, on December 21, the company also announced that 11 members of the company's management, including Wang Liqiang, Secretary of the Party Committee and Chairman of the Board, Han Pu, Deputy Secretary of the Party Committee, Vice Chairman and General Manager, plan to increase their holdings of the company's A shares by a total of no less than 600,000 yuan through centralized bidding transactions through the Shanghai Stock Exchange trading system from December 21, 2023 to December 29, 2023. The management of the company participating in the shareholding increase plan has promised in writing that it will complete the shareholding increase within the period of the shareholding increase in accordance with the shareholding increase plan, and if the CSRC files a case that has an impact on the stock price, how should the management complete it?

Source: Announcement

Jiemian News noticed that on December 12, Radio and Television Network also disclosed that independent director Wang Xiaopeng submitted a written resignation report on the grounds of "personal work reasons", and applied for resignation as an independent director of the company's ninth board of directors, convener of the audit committee, and member of the remuneration and assessment committee. After his resignation, Wang Xiaopeng will no longer hold any position in the company.

Earlier, in October, the radio and television network and the relevant responsible persons received the "Decision on Ordering Shaanxi Radio and Television Network Media (Group) Co., Ltd. to Make Corrections and Issuing Warning Letters to Wang Liqiang, Han Pu, and Hu Xiaolai" from the Shaanxi Securities Regulatory Bureau. After investigation, the radio and television network has problems such as inaccurate disclosure of the 2022 annual report, inaccurate disclosure of information in some temporary announcements, and corporate governance, and the Shaanxi Securities Regulatory Bureau decided to order the company to make corrections and take supervision and management measures such as issuing warning letters to Chairman Wang Liqiang, General Manager Han Pu, and Chief Financial Officer Hu Xiaolai.