The latest claim news of Huatie shares:
On May 10, 2024, Huatie Co., Ltd. received the Administrative Penalty Decision ([2024] No. 11 and [2024] No. 12) and the Market Prohibition Decision ([2024] No. 1) issued by the Guangdong Supervision Bureau of the China Securities Regulatory Commission.
After investigation, Huatie Co., Ltd. and Xuanruiguo have the following illegal facts:
1. There are false records in the 2020 annual report and 2021 annual report of Huatie Co., Ltd
(1) In 2020 and 2021, Qingdao Yatongda Railway Equipment Manufacturing Co., Ltd. (hereinafter referred to as Yatongda Manufacturing), a subsidiary of Huatie Co., Ltd., carried out false trade and inflated revenue and profits by signing solar cell module procurement contracts and sales contracts with Yili Yuanyin New Energy Technology Co., Ltd. (hereinafter referred to as Yili Yuanyin) and Zhongke Hengtong (Ningxia) New Energy Storage Co., Ltd. (hereinafter referred to as Zhongke Hengtong) respectively. In 2020 and 2021, Huatie Co., Ltd. inflated its operating income by 171,327,433.93 yuan and 119,512,192.15 yuan respectively, accounting for 7.64% and 6.01% of the operating income disclosed in the current report; The total inflated profit was 19,115,044.59 yuan and 19,512,194.35 yuan, accounting for 3.17% and 3.39% of the total profit disclosed in the current report, and there were false records in the relevant periodic reports.
(2) In 2015, China Railway Co., Ltd. acquired 100% of the equity of Tong Dai Control (Hong Kong) Limited (hereinafter referred to as Hong Kong Tongda), thereby indirectly holding 100% of the equity of Qingdao Yatongda Railway Equipment Co., Ltd. (hereinafter referred to as Yatongda Equipment) and Yatongda Manufacturing; In 2019, Huatie Co., Ltd. acquired 51% of the shares of Shandong Jiatai Transportation Equipment Co., Ltd. (hereinafter referred to as Shandong Jiatai). The above-mentioned acquisitions formed corresponding asset groups (hereinafter referred to as Hong Kong Tongda Asset Group and Shandong Jiatai Asset Group). In 2020 and 2021, in the process of implementing goodwill impairment tests for the above-mentioned asset groups, Huatie Co., Ltd. did not make reasonable business forecasts based on the actual business conditions of the relevant companies in the Hong Kong Tongda asset group, did not consider the uncertainties in the actual implementation of the relevant businesses carried out by Shandong Jiatai, and was overly optimistic about the business scale forecast of the project landing. In 2020 and 2021, China Railway undercounted asset impairment losses of 30,649,440.08 yuan and 109,938,468.61 yuan respectively, and there were false records in the relevant periodic reports.
2. Huatie Co., Ltd. failed to disclose related party transactions as required, and there were major omissions in the 2019 annual report, 2020 annual report, 2021 annual report, and 2022 annual report
Xuanrui Guo is the actual controller of Huatie Co., Ltd., and at the same time actually controls five companies, including Yili Yuanyin, Zhongke Hengtong, Qingdao Hengchao Machinery Co., Ltd., Zhongke Hengfeng (Beijing) Technology Co., Ltd., and Beijing Newit Technology and Trade Co., Ltd., which constitute related parties of Huatie Co., Ltd. From 2019 to 2022, Huatie Co., Ltd., Beijing Quantongda Technology Development Co., Ltd. (hereinafter referred to as Beijing Quantongda), Yatongda Equipment, Shandong Jiatai and other subsidiaries had capital transactions with relevant related parties controlled by Xuanruiguo.
Among them, in 2019, related party transactions occurred in 876,706,408.02 yuan, accounting for 19.01% of the net assets disclosed in the current report, of which 459,297,158.44 yuan flowed out to related parties and 417,409,249.58 yuan flowed in from related parties; In 2020, related party transactions occurred of RMB 2,924,756,011.06, accounting for 56.62% of the net assets disclosed in the current report, of which RMB 1,403,218,978.44 was outflowed to related parties and RMB 1,521,537,032.65 was inflow from related parties; In 2021, related party transactions occurred of RMB 7,320,873,238.47, accounting for 138.14% of the net assets disclosed in the current report, of which RMB 3,460,226,797.93 was outflowed to related parties and RMB 3,860,646,440.54 was inflowed from related parties; In 2022, related party transactions occurred of RMB 7,272,536,867.09, accounting for 232.53% of the net assets disclosed in the current report, of which RMB 4,070,455,757.09 was outflowed to related parties and RMB 3,202,081,110 was inflow from related parties.
The China Securities Regulatory Bureau decided: 1. Give a warning to Guangdong Huatie Tongda High-speed Railway Equipment Co., Ltd. and impose a fine of 8 million yuan. 2. Xuan Ruiguo was given a warning and fined 8 million yuan, of which 4.5 million yuan was imposed on him as the directly responsible person in charge and 3.5 million yuan as the actual controller. In addition, Xuanruiguo was banned from the market for life.
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 the claim of Huatie shares are as follows:
Claims can be made if one of the following applies:
1. Those who bought 000976 Huatie shares between January 1, 2020 and April 28, 2023, and sold or continued to hold them after April 29, 2023 (inclusive).
2. Those who bought 000976 Huatie shares between January 1, 2019 and July 12, 2023, and sold or continued to hold them after July 13, 2023 (inclusive).
The above claim registration conditions only represent the views of Xie Baoping's lawyer team, and are not used as any securities investment decisions and trading suggestions, and are subject to the final determination of the court.
Basis for the violation of Huatie shares:
On July 12, 2023, Huatie Co., Ltd. received the "Notice of Case Filing" issued by the China Securities Regulatory Commission (Zheng Jian Case No. 0062023018 and No. 0062023019) due to suspected violations of information disclosure laws and regulations.
On February 8, 2024, Huatie Co., Ltd. received the "Prior Notice of Administrative Punishment and Market Prohibition" (Guangdong Zheng Jian Zhi Zi [2024] No. 2) issued by the Guangdong Supervision Bureau of the China Securities Regulatory Commission.
On May 10, 2024, Huatie Co., Ltd. received the Administrative Penalty Decision ([2024] No. 11 and [2024] No. 12) and the Market Prohibition Decision ([2024] No. 1) issued by the Guangdong Supervision Bureau of the China Securities Regulatory Commission.