1. The content of the prospectus and the financial reports of the past three years is exaggerated
Huichen sharesThere is a problem of false descriptions in the prospectus and financial reports for the past three years. According to the SFC's investigation,Huichen sharesThe financial data for 2018 and 2019 and the financial reports for 2020 to 2022 after listing were fabricated. However, not all data is false, and the SFC's official phrase is "there is a false record", which is very accurate.
2. Fines imposed by the CSRC and responsible persons
Based on the issue of financial fraud, the CSRC is rightHuichen sharesSevere penalties were imposed. A total fine of 16 millionHuichen sharesChairmanZhao LongAs the first responsible person, he received a fine of 3 million, and the other 3 relevant responsible persons were also fined 3 million, 2.5 million, and 2.5 million respectively. This shows that the SFC is rightHuichen sharesis taken very seriously.
3. The relationship between remuneration and fines
It is worth mentioning that the annual salary of the financial and board secretary, who was fined 2.5 million, is only 880,000, and it will take 3 years of salary to pay off this fine. This shows that the severity of the punishment for violations is on the individualEconomyThe huge impact of interests.
1. Guo Fansheng and HC Network
Huichen sharesThe origins can be traced back to that yearHC Network, this company is owned by ChinaInternetFounded by Guo Fansheng, an important figure in the e-commerce industry. At that time,HC NetworkIn the B2B business as opposed toAlibabaMore competitive.
2. Zhao Long's work experience
FinesHuichen sharesChairmanZhao LongIt wasHC Networkof senior staff. Zhao LongFrom Inner MongoliaFinanceAfter graduating from university, he came to Beijing and joined HC International Information (formerly HC) in 1999HC NetworkHe gradually rose through the ranks with his talent and cleverness.
3. HC Dun & Bradstreet's joint venture
In 2008,HC NetworkA joint venture with D&B of the United States was established as HC D&BZhao LongAppointed as CEO. D&B is a world-renowned data service organizationZhao Longhas been a great success.
4. The birth of Huichen shares
Huichen sharesYesHC NetworkSpin-off companies. InManagement buyoutsProgram (MBO) in the context,Zhao LongObtained in a personal wayHC Network40 ofEquity, other management holds 30 sharesHC NetworkHolding 30 shares, signifiesZhao LongThe business territory of the company was initially formed.
1. The ups and downs of stock prices
Huichen sharesAfter landing on the Science and Technology Innovation Board, it experienced a lot of speculation, and the stock price went all the way from the issue price of 34 yuan to the highest of 120 yuan, but then began to continue**. Although the share price has rebounded today, it is still below the issue price.
2. Operational difficulties
Huichen sharesCurrently facing operational problems, due to the intensification of competition in the industry, the company'sGross marginDramatically down,Selling expenseswithManagement feesThe increase is causedGross profitAll are eaten, which in turn leads to consecutive losses. Without substantial changes, the company's main business will be unsustainable.
3. The phenomenon of venture capital shareholders
sectionVenture capitalShareholdersRightHuichen sharesClearance** was carried out, which may be a reflection of the company's operating status. This phenomenon suggests that uncertainty about the company's prospects can be triggeredShareholdersTheir concerns about the company are also the key issues for the company to take off their hats.
Huichen sharesThe act of fabricating financial data before and after listing is a serious violation of the listed company's policyCreditPrinciple, yesmarketCreditThe destruction of the foundation. The CSRC has imposed severe penalties on this, showing a strict attitude towards financial fraud. However, financial fraud is justHuichen sharesOne of the current problems, its operational difficulties and management changes are also the reasons for the stock price**. How to change the status quo of business and restore the company's image, yesHuichen sharesKey issues that need to be addressed.