Xie Yi, secretary of the board of directors of Miaoke Lando, was given a regulatory warning by the Shanghai Stock Exchange for not doing a good job in information disclosure

On the evening of June 3, the Shanghai Stock Exchange issued an announcement saying that because Xie Yi, the secretary of the board of directors of Miaoke Lando, as the specific person in charge of information disclosure affairs, failed to be diligent and conscientious, did not do a good job in information release management and timely issued a clarification announcement, it was given a written regulatory warning.

It is reported that during the session on May 26, 2021, some media reported that the minutes of the meeting of Shanghai Miaoke Lando Food Technology Co., Ltd. (hereinafter referred to as Miaoke Lando) on May 25 showed that the company's sales in April had slowed down, and the sales data in May was less than expected, mainly due to the company's reduction of nearly 4,000 online stores, the implementation of the company's incremental plan was not in place, and the growth of some mature markets did not meet the expected requirements. The company's stock price fell 10.00% on May 26, closing at $75.76.

Until May 28, 2021, The disclosure and clarification announcement of Miaoke Lando said that the above information was a regional manager of the company who accepted a third party inquiry through a conference call and disclosed his personal understanding of the company's relevant information to a third party, other personnel of the company did not participate in the above meeting, and the company's operating income, profit and other operating data were subject to the information disclosed by the statutory media. From May 26 to May 28, 2021, the share price of Miaoke Lando accumulated more than 20% due to the deviation of the closing price decline in three consecutive trading days, touching on abnormal trading volatility.

According to the SSE, the company's operating and performance information is sensitive information that may have a greater impact on the company's stock trading and investor decision-making, and should be released truthfully, accurately and objectively through statutory disclosure channels.

However, Miaoke Lando did not strictly manage the content of the inquiries and exchanges of information by the business personnel, resulting in the above information being released through non-statutory information disclosure channels, the information disclosure was unfair, and the company's stock price fluctuated greatly during the period. In addition, the company did not verify and clarify major media reports in a timely manner. Therefore, Xie Yi, the secretary of the board of directors, as a specific person in charge, was given a regulatory warning.

At the same time, the SSE reminds that the company should take this as a warning, strictly follow the provisions of laws, regulations and the "Stock Listing Rules", standardize operations, and conscientiously perform the obligation of information disclosure; the company's directors, supervisors and senior management personnel should conscientiously perform the obligations of loyalty and diligence, promote the company's standardized operation, and ensure that the company discloses all material information in a timely, fair, true, accurate and complete manner.