Finance Associated Press, December 27 (Reporter Zhao Zixiang).At the expiration of two months of the investigation, Wenyi Technology (600520., a "demon stock" that had set a record of doubling its stock price in a single monthSH) finally showed its original form, and its violations were revealed.
This evening, Wenyi Technology disclosed that due to false records in the 2023 semi-annual report, the company received a million-level fine from the regulator, and the company's three executives were also fined, and the company also said that it had waived the right to make statements, defenses and hearings and apologized to investors.
Wenyi Technology received the "Notice of Case Filing" on October 24, and the CSRC decided to file a case against the company due to suspected violations of laws and regulations. Previously, the company attracted widespread attention for "1 yuan consideration ** wholly-owned subsidiary Zhongfa Tongling", and at the same time, the semi-annual asset impairment announcement issued during the disclosure of this year's semi-annual report also received a regulatory letter from the Shanghai Stock Exchange, which became the direct fuse of the fine.
According to the "Administrative Penalty Decision", Zhongfa Tongling is a wholly-owned subsidiary of Wenyi Technology, and originally planned to build 4 projects and supporting facilities such as power intelligent products and energy-saving products, but Zhongfa Tongling has not carried out the production and operation of physical products, and its main income is rent. In May 2023, Wenyi Technology officially launched the external equity of Zhongfa Tongling, and the use of Zhongfa Tongling asset group was changed from the original plan for self-use to **.
From May to June this year, Wenyi Technology held several meetings with local ** platform companies to discuss the equity transfer of Zhongfa Tongling, with the participation of Chairman Yang Lin, Chief Financial Officer Hu Kai, General Manager Ding Ning, etc., and hired an appraisal agency to evaluate the assets of Zhongfa Tongling.
On July 11, Yang Lin, Hu Kai and others held a special meeting on the impact of Zhongfa Tongling's equity transfer on the current profit and loss, whether to make provision for the asset impairment of Zhongfa Tongling, etc., and the final opinion of the meeting was that the asset impairment of Zhongfa Tongling should not be provided for in the 2023 semi-annual report.
On July 28, the appraisal agency hired by Wenyi Technology sent the appraisal report of Zhongfa Tongling to the company's financial personnel, and the assessment result was an impairment of 10.5 billion yuan.
Subsequently, on October 23, Wenyi Technology issued a correction announcement, providing for the impairment of various assets totaling 10.6 billion yuan, correcting some of the data in the company's 2023 semi-annual report income statement, balance sheet and owner's equity statement.
The reporter of the Financial Associated Press noticed that after the above corrections, Wenyi Technology's net profit in the first half of 2023 turned from a profit to a loss of 9949340,000 yuan.
According to the fine, according to the relevant regulations, the company should accrue the corresponding impairment amount after learning the assessment results, but Wenyi Technology did not accrue the impairment of various assets in accordance with the regulations10.6 billion yuan, overcounting assets and profits of 10.6 billion yuan, resulting in false records in the 2023 semi-annual report.
In terms of the personnel involved, Yang Lin, as the chairman of the company, Hu Kai as the company's chief financial officer, Ding Ning, as the company's director and general manager, and the legal representative of Zhongfa Tongling, are respectively the main decision-makers, directly responsible supervisors and other directly responsible personnel for the above-mentioned illegal information disclosure acts.
Therefore, while Wenyi Technology was given a warning by the Securities Regulatory Bureau and fined 2 million yuan, Yang Lin was given a warning and fined 700,000 yuanHu Kai was given a warning and fined 600,000 yuanDing Ning was given a warning and fined 500,000 yuan.
The reporter of the Financial Associated Press noticed that the share price of Wenyi Technology has been extremely active since the second half of this year, and the original stock price has remained in the range of 12-15 yuan, but since October 17, after the harvest of the daily limit, the daily limit has risen all the way since then. As of November 27, the company's stock price closed at 4148 yuan shares, during the cumulative **19863%。
Wenyi Technology issued a supplementary announcement on the evening of the same day, stating that the company received the "Prior Notice of Administrative Punishment" issued by the Anhui Securities Regulatory Bureau on December 22, and according to the content of the letter, the company has waived the right to make statements, defenses and hearings. The company announced that it would like to express its sincere apologies to investors for the above illegal facts, and ask for investors' understanding. The company will conscientiously learn lessons and lessons, strengthen the standardization of internal governance, and improve the quality of information disclosure.
However, because the company did not announce it as soon as possible after receiving the prior notice of punishment, the stock price of Wenyi Technology has been all the way in the past 3 trading days (25th-27th), and it is even more strongly closed today.