China Fund News reporter Li Zhi
Penalties landed!
On April 26, Qinghai Spring announced that its subsidiary Tinghua Shengshi was fined 1.8 million yuan for suspected false publicity. Previously, "Tinghua" wine was exposed by the 3.15 party for falsely promoting the therapeutic efficacy of alcohol.
The subsidiary of Qinghai Spring was fined 1.8 million yuan on suspicion of false publicity
On the evening of April 26, Qinghai Spring announced that its subsidiary Tinghua Shengshi received the "Administrative Penalty Notice" issued by the Market Supervision and Administration Bureau of Wuhou District, Chengdu on April 25, 2024.
According to the "Administrative Penalty Notice", the Market Supervision and Administration Bureau of Wuhou District, Chengdu City, filed a case to investigate the case of Tinghua Shengshi suspected of false propaganda, and the investigation has been concluded.
It has been verified that in the process of selling "Tinghua" liquor in the business premises, Tinghua Shengshi used the scientifically inconclusive views on the efficacy of "Tinghua" liquor and unverified user evaluations for the promotion of "Tinghua" liquor, making misleading publicity, and the circumstances were serious.
According to the relevant regulations, Tinghua Shengshi was ordered to immediately stop the illegal publicity and proposed to impose a fine of RMB 1.8 million on the company.
Qinghai Spring said that the above punishment was made by the Wuhou District Municipal Supervision Bureau after an investigation into the relevant business activities of Tinghua Shengshi, and the company and its subsidiaries sincerely accepted it, and sincerely apologized to the majority of investors for this matter.
Regarding the fact that "the scientifically inconclusive views and unverified user evaluations in the efficacy of 'Tinghua' liquor are used for the product promotion of 'Tinghua' liquor as a misleading propaganda behavior", the company, its subsidiaries and all Tinghua liquor distributors will earnestly learn lessons, further improve the law-abiding awareness of all employees, standardize the words and deeds of sales personnel, and prevent the recurrence of such propaganda behavior. The store opened by Tinghua Shengshi will resume business in the near future.
It was exposed by the 3.15 party
It is worth mentioning that "Tinghua" wine was exposed by the March 15 party for falsely promoting the therapeutic effects of alcohol.
According to CCTV's 3.15 evening party, from 2020, a so-called "high-end business liquor" Tinghua wine has appeared in the consumer market, with a standard price of 5,860 yuan/bottle and a boutique price of 58,600 yuan/bottle.
In the short video of the party, the staff of the experience store told the reporter that Tinghuajiu has the effects of regulating the cardiovascular and cerebrovascular system, regulating sexual function, anti-tumor, improving immunity, and improving the quality of deep sleep. In another Tinghua liquor experience store, the staff is also emphasizing the health care function of Tinghua wine.
On the evening of March 15, the Shanghai Stock Exchange issued a regulatory work letter to Qinghai Spring, dealing with the reason for CCTV reporting that the company's product advertising was illegal.
On March 16, Qinghai Spring announced that the China Securities Regulatory Commission decided to inspect the company for suspected violations of relevant laws and regulations.
According to public information, Qinghai Spring focuses on the operation of the two major business sectors of alcohol, FMCG and health. Among them, the beverage FMCG business segment is operated by Spring Liquor, a wholly-owned subsidiary, which mainly focuses on the sales of high-end liquor of the "Tinghua" and "Reading Flowers" series, and the big health business segment mainly focuses on the sales of Cordyceps sinensis grass and the sales of traditional Chinese medicine products for the lungs.
Up to now, Qinghai Spring's share price is 4.29 yuan per share, with a total market value of 2.52 billion yuan. At the end of the third quarter of last year, the stock had 56,000 shareholders.
Editor: Captain
Review: Xu Wen