Taihe technology faces high pressure supervision: top executives are punished for cheating on hot spots, and then filed for investigation for breach of trust

With the outbreak of the new crown epidemic at the beginning of this year, the concept stocks related to the epidemic situation in the A-share market continued to be sought after by funds, and some listed companies also communicated with investors on the interactive platform. The novel coronavirus technology is one of the companies. It is indicated that Taihe technology is on the interactive platform in February 2, 2020, and its products are benzalkonium chloride, sodium hypochlorite and the prepared peracetic acid, which can be used for environmental disinfection in the process of new coronavirus epidemic prevention. Subsequently, on February 7, Shenzhen Stock Exchange issued a letter of concern to Shandong Taihe Water Treatment Technology Co., Ltd., asking Taihe technology to verify and explain the situation. However, there is a big gap between the fact and the information disclosed by the company, so Taihe technology also ushered in high-pressure supervision. One of them, Taihe technology executives, was punished by the exchange on March 8. On March 15, after Shenzhen Stock Exchange gave Taihe technology a notice of criticism, the CSRC announced that it would launch a case investigation. On October 12, Taihe technology released a notice on the company and relevant responsible persons receiving the warning letter from Shandong regulatory bureau. < p > < p > according to the data, Taihe technology was established on March 14, 2006 and completed the restructuring on June 25, 2015. It is a large-scale professional manufacturer of water treatment chemicals integrating R & D, production and sales. On November 28, 2019, Taihe technology was listed on the growth enterprise market, with 30 million shares issued at a price of 30.42 yuan per share. The sponsor was Zhongtai securities. The total amount of funds raised by Taihe technology was 913 million yuan, and the net amount of funds raised was 844 million yuan, which were respectively used for 280000 tons of water treatment agent project, water treatment agent series product project, R & D center construction project and supplementary working capital.

February 2, 2020, the novel coronavirus, sodium hypochlorite and peracetic acid, which are used in the production of peracetic acid, can be used in environmental disinfection of new coronavirus during the epidemic prevention process. On February 3, Taihe technology disclosed the announcement on increasing business scope and revising the articles of association of the company, saying that it plans to add peracetic acid and other products into its business scope. From February 4 to February 6, the closing price of the stock continuously reached the limit of increase. On February 6, Taihe technology disclosed the announcement of abnormal fluctuations in stock trading, saying that at present, the disinfectant products of Taihe technology are under normal operation, and the main products benzalkonium chloride and sodium hypochlorite can be used for environmental disinfection. On February 7, Shenzhen Stock Exchange issued a letter of concern to Shandong Taihe Water Treatment Technology Co., Ltd., asking Taihe technology to verify and explain the situation. According to the reply to the concern letter issued by Shenzhen Stock Exchange on February 7, 2018, 2019 and From January 1 to February 7, 2020, the sales revenue of Taihe technology sodium hypochlorite accounted for 0.03%, 0.05% and 3.57% respectively, and benzalkonium chloride accounted for 7.17%, 8.22% and 6.72% respectively. Benzalkonium chloride was mainly used in the water treatment industry, and a small number of customers were used in the field of public health disinfection. After the production of peracetic acid, the production, operation and financial status of Taihe technology would not be significantly affected Ring. < / P > < p > on March 8, the website of Shenzhen Stock Exchange disclosed the punishment decision of eight companies including Taihe technology, which were suspected of rubbing hot spots by means of announcement, interactivity, micro blog and wechat. The Shenzhen Stock Exchange said that the above-mentioned behaviors of Taihe technology violated relevant regulations, and the Shenzhen Stock Exchange decided to give a notice of criticism to Cheng Zhongfa, chairman and general manager of Taihe technology, and Cheng Xia, the Secretary of the board. < p > < p > on March 15, Taihe technology announced in the evening that the company had received the investigation notice from the CSRC, because it was suspected of information disclosure violations such as misleading statements and so on, which was filed for investigation by the CSRC. < p > < p > since the promulgation of the new securities law, the regulation of information disclosure has become more and more strict, and the scope of illegal credit reporting has become more and more extensive, and the informal announcement channels such as wechat, microblog and interactive easy are also included in the regulation. At the same time, it should be particularly emphasized that although Taihe technology does have relevant businesses concerned by the market, it does not indicate the proportion of business income and the impact of the event on the company’s business income. In addition, it does not remind relevant risks in the continuous trading of stocks, which is suspected of “misleading statement”. < p > < p > on September 7, Taihe Technology issued an announcement on receiving the closing notice of China Securities Regulatory Commission. According to the announcement, in March 2020, the China Securities Regulatory Commission (CSRC) filed an investigation on the suspected illegal information disclosure of Shandong Taihe Water Treatment Technology Co., Ltd. (hereinafter referred to as Taihe Technology). According to the trial, the case related behaviors of Taihe technology violated the provisions of Article 63 of the securities law of the people’s Republic of China revised in 2005, but the illegal acts were minor. In accordance with the relevant provisions of the administrative punishment law of the people’s Republic of China, it was decided not to impose administrative penalty on Taihe technology, and the case was closed. < p > < p > now, Taihe technology and relevant responsible persons have received a warning letter from Shandong regulatory bureau. On October 12, Taihe technology announced that the company has recently received the decision on administrative supervision measures issued by Shandong regulatory bureau of China Securities Regulatory Commission (hereinafter referred to as “Shandong regulatory bureau”) and “decision on Issuing warning letters to Shandong Taihe Water Treatment Technology Co., Ltd. and relevant responsible persons”. < p > < p > Shandong regulatory bureau holds that the company knows that the income of disinfectant products in the past is relatively low, the sales income of sodium hypochlorite is not high, only a few customers of benzalkonium chloride are used in the field of public health and disinfection, and the peracetic acid to be produced is not expected to have a significant impact on the company’s production, operation and financial status The announcement did not fully disclose the above situation, nor did it give sufficient risk warning for the above situation. < p > < p > Shandong regulatory bureau decided to issue warning letters to the company and Cheng Zhongfa, chairman and general manager of the company, and Cheng Xia, Secretary of the board of directors of the company, and record the relevant information in the integrity file of the securities market. < / 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. 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