Zhitong Finance app learned that on November 2, the Tibet Securities Regulatory Bureau issued warning letters to Jinrun Ark Technology Co., Ltd., Yang Jian, Liu Yanyuan and Feng Jing. After investigation, first, the company did not perform the review and disclosure procedures in a timely manner due to major events. From August 19 to October 15, 2018, the company advanced funds for downstream customers through the advance agreements signed with other companies to reach 1.467 billion yuan, which has met the deliberation standards of the articles of association and the rules of procedure of the shareholders' general meeting. The Company completed its review process on December 3, 2018, and disclosed the relevant information for the first time on December 5, 2018. Second, the disclosure obligation was not fulfilled in a timely manner on the progress of major events. In the advance agreement contract, the "BankErmission Bill Margin Advance Business Agreement" signed by the company and Keqiao Hongang expired on September 7, 2018 and defaulted, with a contract amount of 300 million yuan. On November 22, 2018, the Company signed a debt transfer agreement with Keqiao Hongang and confirmed by China Huayang Trading Co., Ltd. (hereinafter referred to as "Huayang Trading" to form a creditor-debtor relationship between the Company and Huayang Trading.
The Tibet Securities Regulatory Bureau proposed that Jinrun Ark and related personnel should attach great importance to the above problems, perform the company's decision-making procedures in strict accordance with laws and regulations, and perform information disclosure obligations in a true, accurate, complete and timely manner.
