China Net Finance, December 21 (Reporter Hu Zhaohui, Li Bingyan) On the evening of December 20, Zhongbai Group (000759SZ) announced that on December 20, 2023, the company received the "Decision of Hubei Securities Regulatory Bureau on Issuing Warning Letters to Zhongbai Holding Group Shares*** Wang Meifang, Zhang Jun, Hu Jian, and Li Huibin".
According to the information shown in the "Warning Letter", on December 20, Zhongbai Group issued an announcement saying that Zhongbai Warehouse Supermarket, a wholly-owned subsidiary of the company, found that financial officer Shao Moumou was suspected of embezzling the company's funds on July 22, 2023, and immediately reported to the public security organs. On October 13, 2023, the public security organs arrested all the relevant criminal suspects. The case is currently in the investigation stage, and the preliminary estimate is that the cumulative amount of embezzled funds is about 21.9 billion yuan, which is expected to lead to an increase of about 2 percent in the original value of the company's other receivables$1.9 billion, accounts payable increased by about 2.%.1.9 billion yuan, and the preliminary estimate is that the provision for bad debts of other receivables is about 2100 million yuan, reducing the total profit in 2023 by about 0500 million yuan, reducing the total profit of the previous year by about 1600 million yuan.
The Hubei Securities Regulatory Bureau believes that the estimated loss of the above-mentioned embezzlement of employees of Zhongbai Group has reached the standard of major events stipulated in Article 22, Paragraph 2 (1) of the Administrative Measures for Information Disclosure of Listed Companies and Article 80, Paragraph 2 (5) of the ** Law, and the company should disclose it immediately, but it was not until December 20, 2023 that the company issued the "Announcement on the Suspected Embezzlement of Funds by Employees of Subsidiaries on Duty", and there was untimely information disclosure.
Based on this, the Hubei Securities Regulatory Bureau determined that Zhongbai Group violated the provisions of Article 3, Paragraph 1 and Article 22, Paragraph 1 of the Administrative Measures for Information Disclosure of Listed Companies. Wang Meifang, as the chairman of the company, Zhang Jun, as the general manager of the company, Hu Jian, as the company's deputy general manager and the person in charge of accounting, and Li Huibin, as the secretary of the company's board of directors, failed to perform their duty of diligence and responsibility, and bear the main responsibility for the company's above-mentioned violations. Therefore, it was decided to issue a warning letter to Wang Meifang, Zhang Jun, Hu Jian, and Li Huibin of Zhongbai Holding Group shares, and recorded them in the market integrity file.
According to public information, Zhongbai Group is mainly engaged in commercial retail, with revenue of about 91 in the first three quarters of this year8.7 billion yuan, a year-on-year decrease of 025%；The net profit loss attributable to the parent company was about 43.7 million yuan, compared with a loss of about 1 in the same period last year$1.6 billion.