China Net Finance, December 13 (Reporter Hu Zhaohui, Li Bingyan) On December 12, the Shenzhen Stock Exchange Xiangwang Technology (002291SZ) issued a Regulatory Letter.
According to the Regulatory Letter, Yuanwang Technology has the following violations: failure to review and disclose external financial assistance in a timely manner;Failure to disclose the progress of the guarantee in a timely manner.
According to the Shenzhen Stock Exchange, the above-mentioned conduct of Yuanwang Technology violated Article 1 of the **Listing Rules (2023 Revision).4, 21.1, 22.1, 22.4 articles. Self-Regulatory Guidelines for Listed Companies on the Shenzhen ** Stock Exchange No. 1 - Standardized Operation of Listed Companies on the Main Board, No. 61.3 articles.
The day before, on December 11, Yuanwang Technology announced that the company recently received the "Decision on Issuing Warning Letters to Foshan Yuanwang Technology Co., Ltd. Yu Hongtao, Xie Rudong, Li Gang, He Jianfeng, and Ma Chao" (hereinafter referred to as the "Decision") issued by the Guangdong Securities Regulatory Bureau.
According to the "Decision", Yuanwang Technology has six major violations: the book value of the company's inventory from 2021 to 2022 is inconsistent with the actual situation;Some revenue recognition was inappropriate between 2019 and 2020;Inflated revenues, profits, and receivables collections;Failure to disclose external financial assistance in a timely manner;Failure to disclose the company's and subsidiaries' guarantees in a timely manner;Failure to disclose co-investments with professional investment institutions in a timely manner.
Therefore, in accordance with Article 59 of the Administrative Measures for Information Disclosure of Listed Companies and Article 52 of the Administrative Measures for Information Disclosure of Listed Companies, the Guangdong Securities Regulatory Bureau decided to take administrative supervision measures of issuing warning letters to Yuanwang Technology, Yu Hongtao, then chairman and general manager, Li Gang, chief financial officer, Xie Rudong, current chairman and general manager, He Jianfeng, secretary of the board of directors, and Ma Chao, director.
According to public information, the main business of Yuanwang Technology is the production and sales of multi-brand high-end fashion leather shoes, and the wholesale and retail of diversified fashion productsInformation technology service business with mobile Internet precision marketing as the core.
According to the financial report, Yuanwang Technology's total operating income in the first three quarters of 2023 was 344.4 billion yuan, a year-on-year increase of 1342%；Net profit attributable to the parent company - 4500 million yuan, compared with 2 in the same period last year0.7 billion yuan, a year-on-year decrease of 31739%。