Zuming shares IPO chairman’s bribery letter was warned against violation of regulations

According to the decision of the CSRC on administrative supervision measures recently released on the website of the CSRC, after investigation, the CSRC found Zuming bean products Co., Ltd. (hereinafter referred to as “Zuming shares”), 836494 (delisted) in the process of IPO and listing, they did not report whether they were investigated for legal responsibility for the bribery of the issuer and chairman Cai Zuming before the reporting period, nor did they disclose the impact of the matter on the issuer in a timely manner. < / P > < p > the above behavior violates the provisions of Article 7 of the standards for the content and format of information disclosure by companies offering securities to the public No. 1 – prospectuses (2015 Revision) (announcement of China Securities Regulatory Commission [2015] No. 32), and constitutes the behavior described in Article 55 of the administrative measures for initial public offering and listing (Order No. 173 of CSRC). In accordance with Article 55 of the measures for the administration of initial public offering and listing, the CSRC has decided to take the administrative supervision and management measures of issuing a warning letter to Zuming bean products Co., Ltd. Zuming bean products Co., Ltd., located in Binjiang District, Hangzhou City, is a large-scale national soybean product manufacturer integrating R & D, production and sales. At present, it has three wholly-owned subsidiaries, namely Anji Zuming bean products Co., Ltd., Yangzhou Zuming bean products Co., Ltd. and Shanghai Zuming bean products Co., Ltd. Cai Zuming is the largest shareholder, holding 32.11%. Cai Zuming is the chairman and general manager of Zuming shares. < p > < p > on March 22, 2016, Zuming shares was listed for public transfer in the national stock transfer system, and the sponsor securities company was first Venture Securities Co., Ltd. Zuming shares will stop listing in the National SME share transfer system from March 14, 2019. On August 13, 2020, Zuming’s A-share held its first meeting and planned to land on the SME Board of Shenzhen Stock Exchange. The sponsor and main underwriter are the first venture securities underwriting sponsor Co., Ltd. Article 9 of the guidelines for continuous supervision of leading securities companies of the national small and medium-sized enterprise share transfer system (for Trial Implementation) stipulates that the leading securities companies shall supervise the listed companies to establish, improve and effectively implement the internal management system, including but not limited to the accounting system, financial management and risk control system, as well as the external guarantee, major investment, entrusted financing, related party transactions and other major issues The procedure and rule of management decision. Article 7 of the standards for the content and format of information disclosure by companies offering securities to the public No.1 – prospectuses (2015 Revision) (China Securities Regulatory Commission announcement [2015] No.32) stipulates that all information disclosed by the issuer in the prospectuses and their abstracts shall be true, accurate and complete. < / P > < p > after submitting the application documents and before the approval of the CSRC, if there are any matters that should be disclosed, the issuer shall explain the situation in writing to the CSRC and timely modify the prospectus and its abstract. < / P > < p > after the application for public offering of shares is approved by the CSRC, if there are any matters that should be disclosed, the issuer shall give a written explanation to the CSRC, and modify the prospectus and its abstract with the approval of the CSRC. When necessary, the application for public offering of shares by the issuer shall be re approved by the CSRC. < p > < p > Article 55 of the measures for the administration of initial public offering and listing (Order No. 173 of the CSRC) stipulates that if the documents produced or issued by the issuer, sponsor or securities service institution do not meet the requirements, alter the submitted documents without authorization, or refuse to reply to the relevant questions raised in the examination of the CSRC, the CSRC will, depending on the seriousness of the circumstances, punish the issuer Relevant institutions and responsible personnel shall take regulatory measures such as regulatory talks and ordering correction, record them in the integrity archives and publish them; if the circumstances are particularly serious, they shall be given a warning. < / P > < p > after investigation, I will find that during the IPO and listing process, your company did not report whether it was investigated for legal responsibility for the bribery of the issuer and chairman Cai Zuming before the reporting period, nor did it disclose the impact of the matter on the issuer in a timely manner. < / P > < p > the above behavior violates the provisions of Article 7 of the standards for the content and format of information disclosure by companies offering securities to the public No. 1 – prospectuses (2015 Revision) (announcement of China Securities Regulatory Commission [2015] No. 32), and constitutes the behavior described in Article 55 of the administrative measures for initial public offering and listing (Order No. 173 of CSRC). In accordance with Article 55 of the measures for the administration of initial public offering and listing, I will decide to issue a warning letter to your company for administrative supervision and management. < / P > < p > if you are not satisfied with the supervision and management measures, you can apply for administrative reconsideration within 60 days from the date of receiving this decision, or you can file a lawsuit in the people’s court with jurisdiction within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above supervision and management measures shall not be suspended. < / 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. 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