Zhongxin Jingwei, December 29 - Factor company violated the guarantee 35.6 billion yuan, Tuowei Information and related responsible persons were criticized by the Shenzhen Stock Exchange.
Screenshot of Shenzhen Stock Exchange documents.
The Shenzhen Stock Exchange document mentions that according to the Hunan Securities Regulatory Bureau's "Decision on Ordering Corrective Measures against Topway Information System Shares" (No. 30, 2023) and the facts ascertained by the firm, Topway Information and related parties have the following violations:
From December 2017 to August 2018, Haiyuntian Technology, a wholly-owned subsidiary of Topway Information, used the production buildings and dormitories registered in Haiyuntian Industrial Park, Dapeng Town, Longgang District, Shenzhen, to provide guarantees for the loans of You Zhonghui, then director and then chairman of Haiyuntian Technology, and Liu Yan, then director and then general manager of Haiyuntian Technology, with a total principal and interest of 35.6 billion yuan, accounting for 1432%。According to the progress of the litigation, the total amount of illegal guarantees for which Haiyuntian Technology does not need to be liable is 337.56 million yuan, and the total amount of illegal guarantees for which the guarantee liability has been actually fulfilled and the guarantee liability that needs to be borne according to the court's first-instance judgment is 18.48 million yuan.
The Shenzhen Stock Exchange pointed out that Topway Information did not perform the review procedure for the above-mentioned guarantee and did not disclose it to the public in a timely manner. Zhang Zhongge, then chairman and general manager, You Zhonghui, then director and then chairman of Haiyuntian Technology, and Liu Yan, then director and then general manager of Haiyuntian Technology, failed to fulfill their duties and perform their duties of diligence and due diligence, and bear important responsibility for the above violations. Ni Mingyong, the then chief financial officer, failed to exercise due diligence and was materially responsible for the aforesaid breach.
In view of the facts and circumstances of the above-mentioned violations, the Shenzhen Stock Exchange has made the following punishment decisions in accordance with the regulations:
1. Giving a notice of criticism to Tuowei Information System Co., Ltd.;
2. Zhang Zhongge, then chairman and general manager of Tuowei Information System Co., Ltd., You Zhonghui, then director and then chairman of Shenzhen Haiyuntian Technology Co., Ltd., Liu Yan, then director and then general manager of Shenzhen Haiyuntian Technology Co., Ltd., and Ni Mingyong, then chief financial officer, were given the punishment of circulating criticism.
On the 29th, Tuowei Information closed up 183%, with a total market capitalization of 188600 million yuan. According to its official website, the company was established in 1996 and listed in 2008, with Hunan as its headquarters. The business covers software services, intelligent computing, and open-source HarmonyOS operating systems, serving government and enterprise customers in carriers, examinations, transportation, manufacturing, education and other industries. (Zhongxin Jingwei app).
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