Due to the company's former chairman concealing the "lai" information, *ST Yuebo (300742) received both warning letters and regulatory letters.
On the evening of April 19, *ST Yuebo announced that the company recently received the "Decision on Administrative Supervision Measures" issued by the Jiangsu Securities Regulatory Bureau. After investigation, on October 11, 2023, the Shanghai Pudong New Area People's Court identified He Jing as a judgment defaulter because He Jing refused to perform the obligations determined in the effective legal documents because he had the ability to perform, and took measures to restrict He Jing's consumption.
Image source: *ST Yuebo announcement
*The statement that He Jing is not a judgment defaulter in the "Announcement on the Appointment of the General Manager of the Company" disclosed on December 22, 2023 and the "Announcement on the By-election of Directors of the Third Board of Directors of the Company" disclosed on December 26, 2023 are untrue.
The above behavior of the company violated the provisions of Article 3, Paragraph 1 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 182 of the CSRC, hereinafter referred to as the "Information Disclosure Measures").
He Jing, as a candidate for chairman and general manager of the company, failed to truthfully provide his resume to the company, resulting in the above-mentioned violations of the company, and He Jing failed to correct the above-mentioned untrue information in a timely manner after being elected as the chairman of the company, general manager, and acting secretary of the board of directors, and was directly responsible for the company's above-mentioned information disclosure violations, in violation of Article 4 of the "Information Disclosure Measures".
In accordance with Article 52 of the "Information Disclosure Measures", the Jiangsu Securities Regulatory Bureau decided to take administrative supervision measures of issuing warning letters to *ST Yuebo and He Jing, and recorded them in the integrity file of the securities and futures market.
In response to this matter, on the morning of April 20, the Shenzhen Stock Exchange quickly issued a regulatory letter to *ST Yuebo and He Jing.
Image source: Shenzhen Stock Exchange official website
The Shenzhen Stock Exchange believes that the above-mentioned conduct of *ST Yuebo violated the provisions of Articles 1.4 and 5.1.1 of the Rules Governing the Listing of Stocks on the Growth Enterprise Market (revised in August 2023).
He Jing, as a candidate for chairman and general manager of the company, failed to truthfully provide his resume and relevant information to *ST Yuebo, and after being elected as the chairman and general manager of the company and acting as the secretary of the board of directors, he also failed to correct the above-mentioned untrue information disclosure in a timely manner, violating the provisions of Articles 1.4, 4.2.2 and 5.1.1 of the GEM Stock Listing Rules (revised in August 2023), and is directly responsible for the above violations.
According to public information, Nanjing Yuebo Power System Co., Ltd. is a provider of new energy vehicle powertrain system products and solutions. Founded in 2012 and headquartered in Nanjing Xincheng Science and Technology Park, the company was successfully listed on the Growth Enterprise Market of the Shenzhen Stock Exchange on May 8, 2018.
On March 21, *ST Yuebo announced that He Jing, chairman of the board of directors and non-independent director of the company, submitted a written resignation report for personal reasons and resigned as chairman and non-independent director of the company, and his original term of office expired at the expiration of the third board of directors. After his resignation, He Jing will continue to hold other positions in the company. As of the disclosure date of the announcement, He Jing did not hold shares of the company, nor did he have any commitments that should be fulfilled but not fulfilled.
Image source: *ST Yuebo announcement
In terms of performance, *ST Yuebo expects the company's net profit attributable to the parent company in 2023 to be a loss of 209 million yuan to 298 million yuan. *ST Yuebo said that during the reporting period, the main reason for the loss of net profit attributable to shareholders of listed companies was that in 2023, the company made an impairment provision of 128 million yuan for assets such as receivables, projects under construction, inventories, and long-term receivables in accordance with the accounting standards for business enterprises and relevant accounting policies, combined with the company's actual operating conditions, industry market changes and asset operation.
In the secondary market, on April 19, *ST Yuebo fell to 2.05 yuan per share.
Source: Reading and Entrepreneurship