Guangqi technology received warning letter against violation of regulations to guarantee 1.2 billion yuan of non performance letter for related parties

According to the “decision on Issuing warning letters to Guangqi Technology Co., Ltd. and relevant personnel” published on the website of Zhejiang regulatory bureau of China Securities Regulatory Commission, Zhejiang regulatory bureau found that Guangqi Technology Co., Ltd. (hereinafter referred to as “Guangqi technology”, 002625) has the following problems: from January 2018 to may 2020, Guangqi Technology Co., Ltd In the form of time deposit certificate, it provided guarantee for the affiliated parties of Shenzhen Guangqi Innovation Technology Co., Ltd. (hereinafter referred to as “Guangqi innovation”) and Shenzhen Guangqi Hezhong Technology Co., Ltd. (hereinafter referred to as “Guangqi Hezhong”), totaling 1.215 billion yuan. The above guarantee has not gone through the examination and approval procedure, and has not fulfilled the obligation of information disclosure according to the relevant provisions. < p > < p > the above behaviors violate the relevant provisions of Article 2 and Article 30 of the administrative measures for information disclosure of listed companies. The chairman of the board of directors Liu ruopeng, general manager Zhao Zhiya, chief financial officer and Secretary of the board of directors Zhang Yangyang have violated the provisions of Article 3 of the administrative measures for information disclosure of listed companies, and are mainly responsible for the above violations. In accordance with the relevant provisions of Article 58 and Article 59 of the measures for the administration of information disclosure of listed companies, Zhejiang regulatory bureau decided to take supervision and management measures on Guangqi technology and Zhang Yangyang by issuing warning letters, which should be recorded in the integrity archives of the securities and futures market. < p > < p > according to the inquiry of China economic network, Guangqi technology was formerly established as Hangzhou automobile interior parts Co., Ltd. on July 18, 2001, and was changed to Zhejiang Longsheng Auto Parts Co., Ltd. on May 28, 2010. In June 2017, the name of the company was changed from “Zhejiang Longsheng Auto Parts Co., Ltd.” to “Guangqi Technology Co., Ltd.”. The registered capital of Guangqi technology is 2.155 billion yuan. The chairman, legal representative and actual controller of Guangqi technology are Liu ruoping, with a shareholding ratio of 12.07%. The Director Secretary, director and chief financial officer are Zhang Yangyang, and the general manager is Zhao Zhiya. Guangqi technology was listed on the SME Board of Shenzhen Stock Exchange on November 3, 2011. The controlling shareholder of Guangqi technology, Tibet Dazi yingbang Industrial Development Co., Ltd. (hereinafter referred to as “Dazi yingbang”) and Shenzhen Guangqi Space Technology Co., Ltd. (hereinafter referred to as “Guangqi space technology”) held 42.75% and 3.32% shares of the listed company respectively. From July 2020 to July 2023, Liu ruopung served as the chairman of Guangqi technology. Liu was a doctor and senior engineer of Department of electronic and computer engineering of Duke University. He has been the director and general manager of Tibet Dazi yingbang Industrial Development Co., Ltd. since March 2015. Zhang Yangyang served as secretary of the board of directors of the company from August 2019 to July 2023, chief financial officer from May 2019 to July 2023, and director of the company from July 2020 to July 2023. Zhang Yangyang is a doctor and senior engineer of the Department of electronic engineering of Oxford University, UK. He has been the supervisor of Tibet Dazi yingbang Industrial Development Co., Ltd. since March 2015. Zhao Zhiya served as the general manager of the company from April 2017 to July 2023, and served as the director of the company from July 2020 to July 2023. Zhao Zhiya is a doctor and senior engineer of the Department of electronic and computer engineering of Duke University. < p > < p > Guangqi Hezhong was established on December 13, 2011, with a registered capital of 1.4955 million yuan. Liu ruoping is the legal representative, executive director, general manager and major shareholder with a shareholding ratio of 35.09%. Zhang Yangyang is a supervisor with a shareholding ratio of 17.54%. Guangqi innovation was established on September 23, 2011 with a registered capital of 50 million yuan. Liu ruoping is the legal representative, executive director and general manager. The major shareholder is Shenzhen Dapeng Guangqi Technology Co., Ltd., with a shareholding ratio of 60.00%, and Guangqi Hezhong holds 40.00%. The legal representative of Shenzhen Dapeng Guangqi Technology Co., Ltd. is Liu Ruo Peng. Shenzhen Dapeng Guangqi United Technology Partnership (limited partnership) holds 53.00% equity. Liu ruoping is a major shareholder, holding 37.73% of the equity of Shenzhen Dapeng Guangqi United Technology Partnership (limited partnership), Zhang Yangyang and Zhao Zhiya hold 18.87% and 7.55% respectively. To sum up, Liu ruoping directly holds 35.09% of the equity of Guangqi Hezhong, and Guangqi Hezhong directly holds 40% of the equity of Guangqi innovation. Senior executives of Guangqi technology such as Liu ruoping and Zhang Yangyang indirectly control 60% equity of Guangqi innovation through Shenzhen Dapeng Guangqi Technology Co., Ltd. < / P > < p > according to the annual report in 2019 and the interim report in 2020, the company does not provide external guarantee in violation of the prescribed procedures. In response to the inquiry on the annual report of 2019 issued by the exchange, Guangqi technology said that there was no guarantee for the financing of the controlling shareholders and their related parties or co management with the funds of the controlling shareholders and their related parties. The controlling shareholders and their persons acting in concert do not occupy the company’s funds. Article 2 of the administrative measures for information disclosure of listed companies stipulates that information disclosure obligors shall disclose information truthfully, accurately, completely and timely, and shall not have false records, misleading statements or major omissions. < / P > < p > the information disclosed by a company that issues securities and their derivatives in the domestic and foreign markets and is listed in the overseas market shall be disclosed in the domestic market at the same time. Article 3 of the administrative measures for information disclosure of listed companies stipulates that the issuers, directors, supervisors and senior managers of listed companies shall faithfully and diligently perform their duties to ensure the authenticity, accuracy, completeness, timeliness and fairness of the disclosed information. < p > < p > < p > < p > Article 30 of the administrative measures for information disclosure of listed companies stipulates that when a major event occurs that may have a greater impact on the trading prices of the securities and derivatives of the listed company, and the investors have not yet known about it, the listed company shall immediately disclose the cause, current status and possible impact of the event. < / P > < p > (11) the company is investigated by the competent authority for violation of laws and regulations, or is subject to criminal punishment or major administrative punishment; the company’s directors, supervisors and senior managers are investigated by the competent authority or take compulsory measures in case of violation of laws and disciplines; < / P > < p > (14) the court decides to prohibit the controlling shareholder from transferring its shares; more than 5% of the company’s shares held by any shareholder are pledged , freezing, judicial auction, trusteeship, establishment of trust or restriction of voting rights according to law; < / P > < p > (20) due to errors, failure to disclose according to regulations or false records of information disclosed in the previous period, the relevant authorities shall order them to make corrections, or the board of directors shall decide to make corrections. < / P > < p > < p > Article 58 of the measures for the administration of information disclosure of listed companies stipulates that the directors of listed companies, the directors of listed companies, the directors of listed companies, the directors of listed companies, the directors of listed companies, the directors of The supervisors and senior managers shall be responsible for the authenticity, accuracy, completeness, timeliness and fairness of the company’s information disclosure, unless there is sufficient evidence to show that they have fulfilled the obligation of diligence and due diligence. The chairman, manager and Secretary of the board of directors of a listed company shall bear the main responsibility for the authenticity, accuracy, completeness, timeliness and fairness of the information disclosure in the company’s interim report. < p > < p > the chairman, manager and financial director of a listed company shall bear the main responsibility for the authenticity, accuracy, completeness, timeliness and fairness of the company’s financial reports. < p > < p > < p > Article 59 of the measures for the administration of information disclosure of listed companies stipulates that if the information disclosure obligors and their directors, supervisors, senior managers, shareholders, actual controllers, purchasers and their directors, supervisors and senior managers of the listed company violate these measures, the CSRC may take the following regulatory measures: < / P > < p > Guangqi Technology Co., Ltd Secretary, Liu ruopeng, Zhao Zhiya, Zhang Yangyang: Our Bureau found that Guangqi Technology Co., Ltd. (hereinafter referred to as “the company”) has the following problems: from January 2018 to may 2020, the company provided guarantee for the affiliated parties of Shenzhen Guangqi Innovation Technology Co., Ltd. and Shenzhen Guangqi Hezhong Technology Co., Ltd. in the form of certificates of deposit, totaling 1.215 billion yuan. The above guarantee has not gone through the examination and approval procedure, and has not fulfilled the obligation of information disclosure according to the relevant provisions. < p > < p > the above behaviors violate the relevant provisions of Article 2 and Article 30 of the administrative measures for information disclosure of listed companies. The chairman of the board of directors Liu ruopeng, general manager Zhao Zhiya, chief financial officer and Secretary of the board of directors Zhang Yangyang have violated the provisions of Article 3 of the administrative measures for information disclosure of listed companies, and are mainly responsible for the above violations. In accordance with the relevant provisions of Article 58 and Article 59 of the measures for the administration of information disclosure of listed companies, our bureau has decided to take the supervision and management measures of issuing warning letters on you and record them in the integrity archives of the securities and futures market. The company should fully learn from the lessons, strengthen the study of relevant laws and regulations, improve the awareness of standardized operation, and earnestly perform the obligation of information disclosure; directors, supervisors and senior managers should perform the duty of diligence and responsibility to promote the standardized operation of the company and ensure the authenticity, accuracy, integrity, timeliness and fairness of information disclosure. The company shall submit a written rectification report to our bureau before September 30, 2020, so as to prevent such violations from happening again in the future. < / P > < p > if you are not satisfied with the supervision and management measures, you may file an application for administrative reconsideration to the China Securities Regulatory Commission within 60 days from the date of receiving this decision, or file a lawsuit with the competent people’s court within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above-mentioned supervision and management measures shall not be suspended. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.