China Fund News reporter Li Zhi
Regulatory shot! The actual controller of "Yamao" Tongce Medical was warned by the regulator.
On May 16, Tongce Medical announced that the company received the "Decision on Issuing Warning Letters to Zhejiang Tongce Eye Hospital Investment Management Co., Ltd. and Lv Jianming" issued by the Zhejiang Securities Regulatory Bureau. At the same time, the Shanghai Stock Exchange issued regulatory warnings to relevant responsible persons such as the chairman of Tongce Medical and the then chairman.
Warning letters were issued to Tongce Medical and the actual controller for failing to return the financial assistance as planned
On the evening of May 16, Tongce Medical announced that the company received a decision on administrative supervision measures from the Zhejiang Securities Regulatory Bureau.
It is mentioned that on March 28, 2023, Tongce Medical disclosed the "Progress Announcement on the Return of Financial Assistance from Zhejiang Tongce Eye Hospital Investment Management Co., Ltd.", and Zhejiang Tongce Eye Hospital Investment Management Co., Ltd. (hereinafter referred to as Ophthalmology Investment) will fully return the 112 million yuan of financial assistance provided by Tongce Medical from 2019 to August 2020 by December 31, 2023.
On January 10, 2024, the company disclosed the "Progress Announcement on the Return of Financial Assistance Funds of Shareholding Companies", according to which Ophthalmology Investment will complete the return of financial assistance in the first quarter of 2024, and if it is not returned by the end of the first quarter of 2024, the actual controller Lv Jianming will fulfill the return obligation on his behalf. On April 2, 2024, the company disclosed the "Progress Announcement on the Return of Financial Assistance Funds of Shareholding Companies", and Ophthalmology Investment is expected to repay the financial assistance and interest by April 15, 2024.
On April 9, 2024, the company disclosed the "Announcement on the Shareholding Company Has Returned All Financial Assistance", and as of April 8, 2024, Ophthalmology Investment has returned all the principal and interest of 112 million yuan of financial assistance to the company.
However, due to Ophthalmology Investment's failure to repay the financial assistance in a timely manner in accordance with the announced repayment plan, and Lv Jianming's failure to perform the repayment obligation when Ophthalmology Investment failed to return within the promised time limit, the above-mentioned acts of Ophthalmology Investment and Lv Jianming violated relevant regulations, and the Zhejiang Securities Regulatory Bureau decided to take supervision and management measures of issuing warning letters to Ophthalmology Investment and Lv Jianming respectively, and recorded them in the integrity file of the securities and futures market.
The Shanghai Stock Exchange made a move
In addition, on May 16, the Shanghai Stock Exchange issued a regulatory warning to the relevant responsible persons such as the chairman of Tongce Medical and the then chairman.
According to the facts ascertained in the "Decision on Administrative Supervision Measures" ([2024] No. 79) issued by the Zhejiang Supervision Bureau of the China Securities Regulatory Commission and the announcement disclosed by the company, Tongce Medical and the relevant responsible persons have the following violations:
Ophthalmic Investment failed to repay the financial assistance in a timely manner in accordance with the announced repayment plan, and Lv Jianming failed to perform the repayment obligation on behalf of Ophthalmic Investment when it failed to repay within the promised time limit, and the above-mentioned acts of Ophthalmology Investment and Lv Jianming violated relevant regulations.
At the same time, Tongce Medical failed to settle the loan provided to Sanye Dental and Angel Dental before the completion of the equity transfer transaction, resulting in the company's capital occupation; Lv Jianming, the actual controller and chairman of Tongce Medical, Sanye Dental and Angel Dental failed to return the arrears to the listed company before the completion of the equity transfer transaction, which violated the relevant regulations.
In addition, Wang Yi, the then general manager and chief financial officer of Tongce Medical, Xu Guoxi, the then chief financial officer, and Zhang Hua, the then secretary of the board of directors, failed to be diligent and conscientious in their duties and responsibilities for the violations of Tongce Medical, violating the relevant regulations.
In view of the facts and circumstances of the above-mentioned violations, in accordance with the relevant regulations, it was decided to give regulatory warnings to Tongce Medical, the actual controller and then chairman of the company, Lv Jianming, the company's then general manager and then chief financial officer, Wang Yi, the company's then general manager and then chief financial officer, Xu Guoxi, the company's then chief financial officer, Zhang Hua, the company's then secretary of the board, and related parties Zhejiang Tongce Eye Hospital Investment Management Co., Ltd., Beijing Sanye Fengshang Dental Clinic Co., Ltd. and Hangzhou Angel Dental Clinic Co., Ltd.
Performance continued to be under pressure
It is reported that Tongce Medical is the first listed company in China with oral medical chain operation as its main business model. Since its backdoor listing in 2006, it has focused on oral medicine and is committed to building a large-scale dental medical group with a sense of mission, combining medical spirit and scientific spirit, and integrating clinical, scientific research and teaching.
In terms of performance, Tongce Medical's operating income in 2023 will be about 2.847 billion yuan, an increase of 4.7% year-on-year; net profit attributable to shareholders of listed companies was about 500 million yuan, a year-on-year decrease of 8.72%. The revenue in the first quarter of 2024 will be about 708 million yuan, an increase of 5.03% year-on-year; net profit attributable to shareholders of listed companies was about 173 million yuan, an increase of 2.51% year-on-year.
Guolian Securities said that the demand for Tongce medical diagnosis and treatment has grown steadily, and various businesses have developed steadily, but profitability has declined due to the impact of consumption downgrading and centralized procurement. In addition, the company's various expenses remain relatively stable, still maintaining an overall low level, and with the improvement of future operating capabilities, it is expected to achieve cost reduction and efficiency increase.
Up to now, Tongce Medical has reported 63.91 yuan per share, with a total market value of 20.5 billion yuan.
Editor: Xiao Mo
Review: Muyu