On the evening of April 26, ST Dinglong (002502) issued an announcement that it had recently received a notice of filing a case issued by the China Securities Regulatory Commission.
ST Dinglong said that at present, the company's production and operation are normal. During the investigation period, we will actively cooperate with the relevant investigation work of the CSRC and fulfill the information disclosure obligations in a timely manner.
It is worth mentioning that ST Dinglong has been punished by the regulatory authorities many times since last year.
In July 2023, ST Dinglong was issued a warning letter by the Guangdong Securities Regulatory Bureau due to accounting errors. After investigation, the information of the factor company's inventory amount in 2021 and sales revenue in the first half of 2022 was inaccurate, resulting in inaccurate inventory amount in 2021, operating income in the first half of 2022, operating costs, safety production expenses, amortization of intangible assets and other related subjects, resulting in inaccurate financial information in relevant periodic reports.
In January this year, ST Dinglong was punished by the Guangdong Securities Regulatory Bureau for the occupation of non-operating funds by related parties. Specifically, from January to September 2021, Zhongtai Technology, a subsidiary of ST Dinglong, transferred a total of 69.3 million yuan of funds to Long Xueqin, the actual controller, chairman and general manager of the company, and its related parties in the name of prepaid purchase money and equity payment, after the transition of multi-layer intermediate accounts. As of December 2021, Long Xueqin and its related parties have returned the above-mentioned non-operating capital occupation funds and capital occupation fees. In view of the above-mentioned violations, the Guangdong Securities Regulatory Bureau took administrative supervision measures of issuing warning letters to ST Dinglong, Long Xueqin and other relevant responsible persons.
Due to the above-mentioned violations, ST Dinglong also received a letter of concern from the Shenzhen Stock Exchange.
In March this year, the Shenzhen Stock Exchange issued a notice of criticism to ST Dinglong, Long Xueqin and related responsible persons, and included them in the integrity file of the listed company.
ST Dinglong, formerly known as Huawei Culture, is a film and television game company transformed from a toy company, mainly engaged in titanium ore business, game business and film and television business, of which titanium ore business is the core business direction of the company's future development.
In 2019, Hangzhou Dinglong became the new controlling shareholder of the company by transferring the equity and entrusted voting rights of the original controlling shareholder, and Long Xueqin became the new actual controller.
In terms of performance, ST Dinglong will lose 241 million yuan in 2022. On January 30 this year, the 2023 annual performance forecast was disclosed, and it is expected that the net profit attributable to the parent company in 2023 will be 0 yuan to 5 million yuan, a year-on-year turnaround.
But interestingly, on April 19, ST Dinglong issued a revised announcement on the 2023 annual performance forecast, and the net profit turned from a profit to a loss of 5.5 million yuan to 8.2 million yuan. This means that ST Dinglong's performance will lose money for two consecutive years.
Source: Reading and Entrepreneurship