Suspected of information disclosure violations!
The chairman of Aokang Shoes was filed
On March 15, Zhejiang Aokang Shoes Co., Ltd. received a warning letter issued by the Zhejiang Supervision Bureau of the China Securities Regulatory Commission (hereinafter referred to as the Zhejiang Securities Regulatory Bureau) due to suspected violations of information disclosure laws and regulations.
According to the announcement issued by the board of directors of Aokang Shoes on March 16, in the process of conducting an on-site inspection of the company, the Zhejiang Securities Regulatory Bureau found that the company did not disclose the non-operating capital occupation of related parties in the 2021 annual report, 2022 annual report and 2023 semi-annual report as required, and the relevant funds have been returned. In addition, the Company had deficiencies in internal controls related to the payment of funds and the management of distributors, and was confused with the financial personnel of Aokang Group Co., Ltd., a related party of the controlling shareholder.
According to the relevant provisions of the "Administrative Measures for Information Disclosure of Listed Companies" and the "Code of Governance for Listed Companies", the Zhejiang Securities Regulatory Bureau believes that Wang Zhentao, the actual controller and chairman of Aokang Shoes, Wang Jinquan, the general manager, and Weng Heng, the chief financial officer and secretary of the board of directors, bear the main responsibility for the violation, and have taken administrative supervision measures of issuing warning letters to the company and the above three people respectively, and recorded them in the integrity file of the securities and futures market.
In addition, on March 15, the China Securities Regulatory Commission launched an investigation into Aokang Shoes and Wang Zhentao 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 relevant laws and regulations.
For the above situation, Aokang Shoes said that the company and related personnel attach great importance to the relevant matters involved, and will effectively strengthen the study of relevant laws, regulations and normative documents, continuously improve the awareness of standardized operation, safeguard the interests of the company and the majority of investors, and promote the company's standardized, sustainable, healthy and stable development.
In addition, Aokang Shoes also said in the announcement on March 12 on the abnormal fluctuations in stock trading that the company has not experienced significant fluctuations in production costs and sales, and the internal production and operation order is normal.
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This will provide more incentives for leather exports
The Daily Star recently reported that Bangladesh's Minister of Industry Nurul Majid Mahmoud Humayun and Minister of State for Commerce Islam said that according to Prime Minister Hasina's instructions, the Bangladesh government will expand the incentives for garment exports to the leather and jute industries, increase the exports of these local raw material industries, and reduce dependence on the garment industry to promote export diversification.
Key incentives include: corporate tax incentives, bond issuance facilities similar to those in the apparel industry, additional loans from the Export Development Fund (EDF), and higher cash incentives for exports.
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The central bank announced the removal of negative interest rates
On 19 March, the Bank of Japan (BOJ) announced the removal of its negative interest rate policy and raised its benchmark interest rate from -0.1% to 0-0.1%. This is the first time the Bank of Japan has raised interest rates since 2007, and the eight-year era of negative interest rates has officially ended.
In addition, the Bank of Japan (BOJ) has removed the framework for yield curve control (YCC), which curbs long-term interest rates, and the purchase of risk assets such as exchange-traded funds (ETFs) and real estate investment trusts (REITs).
The BOJ said it would respond flexibly in the face of a rapid rise in yields, such as increasing purchases of Japanese government bonds.
The Bank of Japan expects that the Japanese economy will continue to grow at a rate that exceeds the potential growth rate, and core CPI inflation is expected to gradually increase towards the goal of achieving price stability.
The Bank of Japan expects to maintain accommodative monetary conditions for the time being, with inflation exceeding 2% in fiscal 2024.
The Bank of Japan said it would suspend the temporary issuance of three 10-year Japanese government bonds.
Bank of Japan (BOJ) member Asahi Noguchi objected to the decision to change money market operations, saying that wages must be reviewed and a virtuous cycle of prices promoted.