Suspected of sinphi’s illegal “feicui first share” being investigated

“Jade first share” * ST Jinyu announced on the evening of the 17th that he had received the “investigation notice” from the CSRC and was put on file for investigation on suspicion of illegal information disclosure. < / P > < p > * ST Jin Yu pointed out in another announcement on the same day that the company’s shares may be terminated because the closing price of the company’s shares has been lower than the face value of the shares (i.e. 1 yuan) for 17 consecutive trading days (November 25 December 17). < / P > < p > * ST Jin Yu mentioned that the reorganization application has not been accepted by the court, so it is uncertain whether to enter the reorganization procedure. If the court accepts the application according to law, * ST Jinyu may be subject to delisting risk warning due to judicial restructuring; if the application for restructuring is not accepted, the company may be subject to bankruptcy liquidation risk. The company is actively communicating and negotiating with relevant parties, striving to introduce strategic investors as soon as possible and resolve the debt crisis through restructuring. In terms of operation and management, the company takes measures such as reducing staff and burden, reducing expenses, retaining existing business, shrinking front, etc. to increase revenue and reduce expenditure, and strive to maintain the normal operation of the company. < p > < p > on the evening of December 8, * ST Jinyu announced that it had received the supervision letter on * ST Jinyu’s capital occupation and other matters from Shanghai Stock Exchange on December 7. It points out that the Hubei regulatory bureau has taken the decision to order st Jinyu to correct the regulatory measures, and found that the company has some problems, such as inaccurate disclosure of the regular report in 2019, undisclosed related transactions and failure to perform the corresponding approval procedures, actual controllers and controlling shareholders using small loan companies to occupy the funds of listed companies, etc. < p > < p > the Shanghai stock exchange requires * ST Jinyu to self inspect and disclose the occupation of funds, and clarify the occurrence time, amount, process and responsible person of the occupation of funds; the controlling shareholders and actual controllers of the company shall rectify the violations and return the occupied funds immediately in accordance with the regulatory measures of Hubei regulatory bureau. The Shanghai Stock Exchange also stressed that please disclose immediately after receiving this working letter. In addition, on the 7th, the Shanghai Stock Exchange made public its decision on disciplinary action against * ST Jinyu, actual controller and then chairman and president Zhao Ning and relevant responsible persons, including Dongfang Jinyu and its actual controller and then chairman and president Zhao Ning, then vice presidents Yang Yuanyuan, Cao Xia, Yin Mengting and Gao Guoxu, and then director and chief financial officer song Xiaogang Denounce; publicly affirm that Zhao Ning is not suitable to be a director, supervisor and senior manager of a listed company within 10 years. < / P > < p > in the above decision, * ST Jinyu has four violations. One is fictitious sales and purchase transactions. Second, there are false records in the operating revenue, operating costs and total profits of the 2016 annual report. Third, there are false records in the operating revenue, operating costs and total profits of the 2017 annual report. Fourth, there are false records of operating revenue, operating costs, total profits and accounts receivable in the 2018 semi annual report. < p > < p > according to the public information, Dongfang Jinyu is the first jadeite listed company in China. Its main business includes jewelry, jade jewelry, gold bars and jewelry, and interest income from small loans. < / P > < p > since June 24 of this year, Dongfang Jinyu stock has been implemented delisting risk warning, and the stock abbreviation has been changed to “* ST Jinyu” because the audited net profit of two consecutive accounting years in 2018 and 2019 is negative, and the financial accounting report in 2019 is issued by the accounting firm with audit report that can not express opinions. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. Investors operate on this basis at their own risk. < p > < p > Chinanet is a state key news website under the leadership of the Information Office of the State Council and the management of China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website publishes information 24 hours a day. It is an important window for China to carry out international communication and information exchange.