Prompt! The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, local government decision-makers, express regulatory departments, express operators, media practitioners, express upstream and downstream operators, franchise network owners, express logistics practitioners with an annual salary of more than 300,000 yuan)
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|Comprehensive China Fund News
| Express Ecosystem Information Group
After being investigated for more than a year, the special information announced on the evening of May 12 that it had received the "Prior Notice of Administrative Punishment and Market Ban" issued by the Shenzhen Securities Regulatory Bureau. Due to the financial fraud of the company acquired by the company in order to complete the performance commitment, resulting in false records in the annual reports of the company from 2015 to 2019, the company and a number of relevant responsible persons will be punished, with a total amount of more than 23 million yuan. In addition, three of the then senior executives were to be banned from the securities market for 10 years, 8 years, and 6 years respectively.
On May 7 last year, the special information was falsely recorded in the financial report for five consecutive years, and the CSRC decided to file a case on suspicion of illegal information disclosure. On May 10 this year, the company received the "Prior Notice of Administrative Punishment and Market Prohibition" issued by the Shenzhen Securities Regulatory Bureau.
According to the prior notice, on April 8, 2015, Tefa Information signed the "Agreement on Issuing Shares and Paying Cash to Purchase Assets" with Chen Chuanrong and other four shareholders of Shenzhen Dongzhi Technology Co., Ltd. (later renamed Shenzhen Tefa Dongzhi Technology Co., Ltd., hereinafter referred to as Tefa Dongzhi) to purchase 100% of the equity of Tefa Dongzhi by paying cash and issuing shares. On the same day, Tefa Information signed the "Profit Compensation Agreement" with three natural person shareholders of Tefa Dongzhi, and the three natural person shareholders promised that the total cumulative net profit of Tefa Dongzhi in the three years from 2015 to 2017 would not be less than 143 million yuan, and Chen Chuanrong separately supplemented the net profit of Tefa Dongzhi in 2018, 2019 and 2020 with no less than 58.6 million yuan. On November 4, 2015, Tefa Dongzhi completed the equity change and became a wholly-owned subsidiary of Tefa Information. Since November 30, 2015, the company has included the company in its consolidated financial statements. After investigation, in order to fulfill the performance commitment, Tefa Dongzhi inflated revenue, inflated or inflated operating costs and profits by adjusting operating costs across periods, fictitious business, etc. There are two main facts of the specific violation. First, from 2015 to 2019, Tefa Dongzhi reduced or inflated operating costs by undercounting or delaying the purchase of materials sold by customers and adjusting operating costs across periods. Among them, from 2015 to 2018, the operating costs were inflated by 10.3933 million yuan, 91.7346 million yuan, 56.2461 million yuan, and 11.6292 million yuan, respectively, and the inflated operating costs were 64.9477 million yuan in 2019. Second, in 2019, Tefa Dongzhi fictitiously sold business with Shenzhen Youhua Communication Technology Co., Ltd. and China Mobile Communications Group Terminal Co., Ltd. by forging purchase orders and related logistics documents, inflating operating income by 328 million yuan, operating costs by 284 million yuan, and inflating total profits by 43.8671 million yuan. The above-mentioned behaviors of Tefa Dongzhi led to an inflated total profit of 10.3933 million yuan, 91.7346 million yuan, 56.2461 million yuan and 11.6292 million yuan respectively from 2015 to 2018, and the total profit in 2019 was inflated by 21.0806 million yuan, accounting for 8.17%, 34.74%, 16.58%, 3.29% and 5.33% of the total disclosed profit in the current period respectively. The annual reports from 2015 to 2019 disclosed by the Special Issuance Information contained false records. According to the facts, nature, circumstances and degree of social harm of the parties' illegal acts, and in accordance with the provisions of the second paragraph of Article 197 of the Securities Law, the Shenzhen Securities Regulatory Bureau intends to decide: 1. Give a warning to the special information and impose a fine of 8 million yuan;
2. Jiang Qinjian, who was the chairman or general manager of Tefa Information at the time and concurrently the chairman or director of Tefa Dongzhi, was warned and fined 4 million yuan;
3. Chen Chuanrong, then director and general manager of Tefa Dongzhi, was given a warning and fined 3.5 million yuan;
4. Yi Zongxiang, then director and deputy general manager of Tefa Dongzhi, was given a warning and fined 2 million yuan;
5. Yang Hongyu, then director and general manager of Tefa Information and director of Tefa Dongzhi, and Li Zengmin, then director and chief financial officer of Tefa Information and director of Tefa Dongzhi, were given warnings and fined 1.5 million yuan respectively;
6. Zhang Dajun, then secretary of the board of directors and deputy general manager of Tefa Information, and Wang Ling and Liu Ying, then financial managers and cost accountants of Tefa Dongzhi, were given warnings and fined 1 million yuan respectively. The total amount of the above fines amounted to $23.5 million. At the same time, Jiang Qinjian, Chen Chuanrong, and Yi Zongxiang's illegal acts are relatively serious, and in accordance with the relevant provisions of the "Securities Law" and the "Securities Market Prohibition Regulations" (Decree No. 115 of the CSRC), the Shenzhen Securities Regulatory Bureau also intends to decide: Jiang Qinjian shall be banned from the securities market for 10 years, Chen Chuanrong shall be banned from the securities market for 8 years, and Yi Zongxiang shall be banned from the securities market for 6 years.
According to the special information, the company judged that the violations of laws and regulations involved in the "Administrative Penalty and Market Ban Prior Notice" received did not touch the situation of major illegal forced delisting. At present, the company's production, operation management and business activities are normal, and will continue to pay attention to the progress of the above matters, and fulfill the obligation of information disclosure in a timely manner.
The stock abbreviation was changed to ST Texin
On the evening of May 12, the special information issued a reminder announcement at the same time, according to Article 9.8.1 (8) of the "Shenzhen Stock Exchange Stock Listing Rules": according to the facts stated in the prior notice of administrative punishment of the China Securities Regulatory Commission, the Shenzhen Stock Exchange will implement other risk warnings on the company's shares. The company's shares have been suspended for one day since the market opened on May 13 and resumed trading on May 14.
The company's shares have been subject to other risk warnings since the market opened on May 14, and the company's stock abbreviation has been changed from "special information" to "ST special information"; The stock code remains unchanged and remains "000070"; The stock trading day limit is 5%.
According to the data, the company is based on the information and communication business, and currently has four major business segments: cable manufacturing, optoelectronic manufacturing, smart services and technology integration. In the first quarter of this year, the company achieved revenue of 1.07 billion yuan, a year-on-year increase of 10%; The net profit attributable to the parent company was 14 million yuan, a year-on-year increase of 237%. As of April 19, the total number of shareholders of the company was 100,000.
As of the close of trading on May 10, the special information was reported at 7.9 yuan per share, down more than 30% compared with the high at the beginning of the year. The company's latest market capitalization is 7.1 billion yuan.
Express ecosystem
It has been settled on the following platforms
Snowball | Straight flush | Oriental Fortune | Futu |
Weibo | Today's headlines | Zhihu | Tencent
Tik Tok | Xiaohongshu|Kuaishou|Video number|Himalayas
Twitter|ins|YouTube|Station B
Recently, the stock market continues to fluctuate, some criminals illegally make profits, harming the legitimate rights and interests of investors, I will increase the supervision of trading behavior, enrich the means of clue screening, make overall arrangements for special verification, strengthen the "penetrating" transaction monitoring, use multi-dimensional technical means to collect market intelligence, and carry out joint research and judgment with the Ministry of Public Security, and find a number of cases suspected of manipulating the market and malicious shorting.
An illegal gang controlled more than 100 securities accounts to manipulate a certain stock, used continuous pulling, reverse trading and other methods to affect the stock price, and then waited for the opportunity to clear the stock and smash the shipment, resulting in a flash crash and continuous decline in the price of individual stocks, with a total of 2.7 billion yuan sold and an illegal profit of about 130 million yuan.
The actual controller of an investment institution manipulated the prices of more than 20 stocks by suppressing stock prices, absorbing chips at a low level, and continuously pulling up, resulting in rapid fluctuations in the prices of individual stocks, and even extreme markets such as "sky flooring" within a day, from which the transaction illegally profited 140 million yuan.
A certain lawbreaker took advantage of his capital advantage and used hundreds of millions of yuan to frequently make false declarations for many futures products on the futures exchange, creating a false impression of trading, deceiving other investors, and taking the opportunity to sell them for a profit of more than 4,000 yuan.
The China Securities Regulatory Commission (CSRC) insists on responding quickly and resolutely investigating and dealing with illegal acts that affect the stable operation of the stock market and harm the legitimate rights and interests of investors.
Manipulating the market to maliciously short-sell, seriously eroding the people's "money bags", has stood on the opposite side of all stockholders, disrupting the normal rhythm of the healthy and stable operation of the stock market. The China Securities Regulatory Commission will maintain a high-pressure posture of "zero tolerance", resolutely crack down, and let those who dare to illegally manipulate and maliciously short sellers "go bankrupt and sit in prison". In this warning, don't defy the law and take the chestnut from the fire.
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Prompt! The main target groups of the express ecosystem: (investors, private equity funds, brokerage institutions, decision-makers of local governments, express regulatory departments, express logistics operators, media practitioners, upstream and downstream operators of express logistics, owners of franchised outlets, express logistics practitioners with an annual salary of more than 300,000 yuan.
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Before buying and selling express logistics companies and upstream and downstream enterprises, take a look at the "express ecosystem" to avoid detours...