A few days ago, the Jiangsu Securities Regulatory Bureau issued the "Administrative Penalty Decision", Dahua Certified Public Accountants (Special General Partnership) (hereinafter referred to as "Dahua") failed to perform the duty of diligence when auditing Jin Tongling's annual financial statements from 2017 to 2022, and the audit report issued by it contained false records, and the Jiangsu Securities Regulatory Bureau imposed administrative penalties on Dahua and related personnel in accordance with the law. He was fined 5 yuan for "5 fines", confiscated 6.8868 million yuan of business income, fined 34.434 million yuan, and suspended 6 months from engaging in securities service business; Subsequently, the Shenzhen Stock Exchange issued the Disciplinary Decision. The Shenzhen Stock Exchange decided to impose a penalty on UOB for 6 months not to accept the documents related to its securities business and securities service business; At the same time, different degrees of punishment are imposed on the relevant responsible persons. As a result of this financial fraud incident, UOB's audits of listed companies may be affected, especially IPO projects. According to the statistics of Jiwei Network, in the field of semiconductors, Dahua has participated in the audit of 8 listed companies, namely Goodix Technology, BDStar, Fengshao Technology, Biyi Micro, Xinxiangwei, China Porcelain Electronics, Roshow Technology, Taiji Co., Ltd., etc.; There are 9 companies planning to IPO, namely Shangyangtong, Dapu Technology, Huazhuo Jingke, Jiuling Lithium, Kone, Chaowei Electronics, Ganzhen Intelligence, Hebei Shengtai, and Tiansu Metrology; The refinancing projects include the non-public issuance of shares by Yuncong Technology and the issuance of securities/convertible bonds to unspecified targets by Lingyi Zhizao.
For the nine companies planning to IPO in the semiconductor industry, their fate may be affected to a certain extent. First, due to UOB's mistakes in the audit process, the market's trust in the quality of its audits may decline. This may lead potential IPO clients to choose other, more reputable auditors, which can affect the IPO process of these companies.
However, despite the penalties imposed by UOB, the IPO environment in the semiconductor industry is not entirely unfavorable. According to reports, in 2023, despite the impact of the tightening of domestic IPO policies, there are still a number of semiconductor companies that have successfully listed. In addition, the industry generally believes that there are still development opportunities in the semiconductor field in the future capital market, especially those companies that can overcome key technical problems and have mature business models.
Therefore, for these nine semiconductor companies planning to IPO, although the negative news of UOB may put some pressure on them in the short term, as long as they have strong technical strength and good business models, the possibility of successful listing still exists. At the same time, it also reminds all companies that they need to strictly adhere to the truthfulness and accuracy of financial reports before and after the IPO to maintain the trust of investors and the market.