Beijing Business News (reporter Dong Liang Ding Ning) on the evening of October 29, ST Bailong (002776) issued an announcement showing that the company's suspected violation of laws and regulations on information disclosure has been investigated, and the CSRC intends to impose administrative penalties on the company and relevant responsible persons and take market entry ban measures in accordance with the law.
It was found that there were false records in ST Bailong's initial public offering prospectus, 2016 non-public stock issuance report and listing announcement and periodic report; ST Bailong was suspected of falsely recording bank deposits and other illegal records by forging account receipts and not entering funds in and out of the account.
In this regard, the CSRC decided to order ST Bailong to make corrections, give a warning, and impose a fine of 10 million yuan; chen Weixiong, then chairman of the board, and Chen Nana, then vice chairman and general manager, were banned from the market for life, and fined 5 million yuan respectively.
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