Dingxin Communication's latest claim news:
On May 8, 2024, the company received the Administrative Penalty Decision ([2024] No. 1) from the Qingdao Supervision Bureau of the China Securities Regulatory Commission. After investigation, Dingxin Communication has the following illegal facts:
1. Dingxin Communication failed to disclose in a timely manner that there had been significant changes in the external conditions of production and operation
On February 27, 2024, Dingxin Communication learned that the State Grid will launch a bidding and procurement "circuit breaker mechanism" for all procurement categories of the company from February 18, 2024, and initiate an investigation into the company's suspected violations, and suspend the bidding qualification of all the company's products and services during the circuit breaker period. The "circuit breaker mechanism" has a significant impact on the amount of the company's winning bid, and the amount of the winning product of the State Grid accounts for a high proportion of the company's operating income, which constitutes a major change in the external conditions of the company's production and operation, which is a major event stipulated in the second paragraph of Article 80 of the Securities Law. Dingxin Communication shall disclose the above-mentioned major events in a timely manner in accordance with the provisions of Article 80, Paragraph 1 of the Securities Law, but the Company did not issue an interim announcement to disclose the above-mentioned matters until the evening of March 29, 2024.
2. Dingxin Communication failed to disclose the disposition of shares held by the controlling shareholder and actual controller in a timely manner
On January 24, 2017, Wang Jianhua, the controlling shareholder and actual controller of the company, and his ex-wife Zhang signed the Divorce Agreement, stipulating that 32,951,694 shares of the company held by Wang Jianhua (accounting for 30.38% of the company's shares held by him and 7.60% of the company's total share capital at that time) were owned by his ex-wife Zhang, and there was no need to go through the name change procedures, and Zhang entrusted Wang Jianhua to exercise all shareholder rights within 15 years. This matter is a major event stipulated in Item 12, Paragraph 2 of Article 80 of the Securities Law and Item 8, Paragraph 2 of Article 22 of the Administrative Measures for Information Disclosure of Listed Companies, and Dingxin Communication should disclose it in a timely manner, but the company will not make an announcement until April 3, 2024.
The SFC decides:
1. Qingdao Dingxin Communication Co., Ltd. was given a warning and fined 700,000 yuan;
2. Give Wang Jianhua a warning and impose a fine of 1 million yuan;
3. Give Zeng Fanyi a warning and impose a fine of 500,000 yuan;
4. Give Ge Jun a warning and impose a fine of 300,000 yuan;
5. Yuan Zhishuang was given a warning and fined 250,000 yuan.
According to the Securities Law and the Several Provisions of the Supreme People's Court on the Trial of Civil Compensation Cases Arising from False Statements in the Securities Market, listed companies shall be liable for civil compensation if their rights and interests are damaged due to illegal information disclosure and misrepresentation, and the injured investors have the right to claim compensation for losses.
The reference conditions for Dingxin Communication's claim are as follows:
Those who bought 603421 Dingxin Communications between February 28, 2024 and March 29, 2024, and sold or continued to hold it after April 1, 2024 (inclusive).
The above claim registration conditions only represent the views of Xie Baoping's financial and securities team, and are not used as any securities investment decisions and trading recommendations, and are subject to the court's final determination.
Basis for violation of Dingxin Communication:
On March 29, 2024, Qingdao Dingxin Communication Co., Ltd. received the Notice of Case Filing (No. 0242024006) issued by the China Securities Regulatory Commission.