乐生活"Securities Regulatory Commission Issues: Illegal Types of Information Disclosure"
From the perspective of the types of illegal acts of information disclosure of listed companies, it mainly includes the following types:
One is financial fraud…
1. In order to obtain approval for issuance, Ruxintai Electric implements financial fraud in issuance application documents, reducing accounts receivable by 381 million yuan and increasing cash flow by 241 million yuan.
2. In the process of major assets reorganization of some listed companies, the transaction object is to seek high consideration of the transaction and fraud, such as the false increase of income of Jiuhao Group 266 million yuan, the fictitious bank deposit 300 million yuan, the false increase of valuation value of Baoqianli Electronics through false intentional agreement, and the concealment of security matters by Jin Yingma, etc.
3. Dazhi, Yabat, Jinya Technologies, Kunming Machine Tools and other companies manipulate periodic financial statements, or confirm incomes in advance without meeting the conditions, or increase profits by forging contracts, bank documents, records of material products receiving and receiving, or concealing expenditures, or increase incomes by means of cross-period confirmation of incomes, false income and false increase of contract prices, or Increase revenue through fictitious projects and trade.
Secondly, it fails to disclose the related relationship and related transactions in accordance with the law.
1. If Founder Science and Technology fails to disclose its affiliated relationship with its distributors and 43.28 billion yuan of affiliated transactions in accordance with the law,
2. Huge groups fail to disclose in accordance with the law many related party transactions with a total amount of 2.456 billion yuan.
3. Huaze Cobalt and Nickel did not disclose the related party’s occupation of non-operating funds and the related transactions with a total amount of 5.414 billion yuan according to law.
Third, the change of shareholders’rights and interests has not been disclosed in accordance with the law.
1. If Huiqiu Technologies fails to disclose truthfully the control of the actual controller over the company,
2. Pilu fails to disclose truthfully the change of the actual controller.
3. Ren Zihang did not disclose the actual controlling person holding shares on behalf of others according to law.
Fourth, there are misleading statements about the information disclosed…
If there are misleading statements about the products of the subsidiary company disclosed by Changsheng Biology,
The information of Internet finance related business disclosed by ASUS does not conform to the facts and is misleading.
There is a misleading statement about the certainty of Longwei Media’s acquisition disclosed by Wanjia Culture.
Piyuanpi discloses a series of announcements of renaming without relevant business in the field of financial services, which misleads investors in judging the company’s prospects and value, etc.
Fifth, major matters have not been disclosed in accordance with the law…
1. If Chengcheng shares fail to disclose the commercial acceptance bill for a total amount of 708 million yuan as required,
2. The company fails to disclose the letter of intent in the acquisition project as required.
3. Pauli International has not faithfully disclosed the fact of signing memorandum of cooperation on major investment projects and construction projects and the progress of related projects.
Information disclosure of listed companies has various forms and motives. Relevant subjects lack respect for the market, law, profession and investors. They frequently test the legal bottom line and expose that the ecological environment of capital market is still unsatisfactory, which needs to be improved urgently.
Some listed companies rush forward, deviate from the main business, speculate hot spots, add leverage to play "cross-border", and change their performance in the downturn cycle, which is an important trigger for information disclosure violations.
The culture of modern corporate governance is not well developed, and some of the supervisors have a weak sense of compliance. They can not correctly understand the social responsibility and legal obligations of listed companies as public companies and the trustworthiness obligations of supervisors to all shareholders. Some are accustomed to "throwing their hands off the cabinet" and try to use ignorance, unprofessionality and concealment as "shield of exemption", during which there are 37 supervisors. If a lawsuit is initiated by a decision of administrative penalty, it will all end in failure.
The phenomenon of "one share is dominant" in listed companies is still common. In some companies, the "three meetings" are nominal. Controlling shareholders and actual controllers ignore the rights of small and medium-sized shareholders, encroach on the interests of listed companies through concealed and unfair related transactions, or fail to cooperate with the obligation of information disclosure and infringe on the right to know of small and medium-sized shareholders. 11.76% of the cases are directed by controlling shareholders and actual controllers. Illegal cases are severely punished at the same time.
Some intermediaries attach importance to market share, neglect compliance management, radically expand their scale, neglect their responsibilities in securities business, even neglect their duties, which opens the door for fraudulent acts and frustrates investors’confidence in the intermediary industry.
For the above-mentioned acts, we must strictly enforce the law and crack down on chaos, so that all kinds of fraudulent acts have nowhere to hide, so that all kinds of responsible subjects should be punished for their mistakes and pay due price.
