Zhongxin Jingwei, December 24 -- The prospectus and financial reports of previous years were falsified across the board, and Beijing Huichen Zidao Information Co., Ltd. (hereinafter referred to as "*ST Huichen" and "Huichen Shares") was punished, and the company and the chairman were fined a total of 16 million yuan.
Falsification of prospectuses and financial statements over the years.
ST Huichen announced on the evening of the 22nd that it received the "Administrative Penalty Decision" ([2023] No. 9) issued by the Beijing Supervision Bureau of the China ** Supervision and Administration Commission on the same day.
According to the administrative penalty decision, after investigation, the facts of Huichen shares suspected of violating the law are as follows:
In June 2017, Huichen Co., Ltd. acquired 48% of the equity of Beijing Xintang Puhua Technology Co., Ltd., hereinafter referred to as Xintang Puhua, and Xintang Puhua became a company in which Huichen Co., Ltd. participated in the company. In December 2020, Huichen Co., Ltd. further acquired 22% of the equity of Xintang Puhua, and Xintang Puhua became a holding subsidiary of Huichen Co., Ltd.
Xintang Puhua falsely increased revenue and profits by fictitious business with third parties, signing sales contracts without commercial substance, and recognizing project income in advance, resulting in false records in the "Prospectus for the Initial Public Offering of Beijing Huichen Information Co., Ltd. *** and Listing on the Science and Technology Innovation Board" (hereinafter referred to as the "Prospectus") disclosed by Huichen on July 13, 2020, as well as the annual reports from 2020 to 2022 disclosed after the initial listing.
1) There are false records in the Prospectus.
In 2018, Xintang Puhua inflated its revenue and profits in 4 projects by signing sales contracts without commercial substance, and comprehensively considered the impact of bad debt losses, impairment and other factors, resulting in an inflated profit of 555 in 2018310,000 yuan, accounting for 7 of the total disclosed profit in the current period33%。
In 2019, Xintang Puhua and others inflated revenue and profits in 5 projects by signing sales contracts without commercial substance and recognizing project income in advance, resulting in an inflated operating income of 721 in 2019700,000 yuan, accounting for 188%；Considering the impact of bad debt losses, impairment and other factors, the inflated profit was 1785880,000 yuan, accounting for 25 of the total disclosed profit in the current period16%。
2) There are false records in the 2020 annual report.
In 2020, Xintang Puhua and others falsely increased revenue and profits in 10 projects by fictitious business with third-party businesses, signing sales contracts without commercial substance, and confirming project income in advance, resulting in an inflated operating income of 4396 in 2020810,000 yuan, accounting for 1129%；Taking into account the impact of bad debt losses, impairment and other factors, the inflated profit was 6096160,000 yuan, accounting for 60% of the total disclosed profit in the current period69%。
3) There are false records in the 2021 annual report.
In 2021, Xintang Puhua and others inflated revenue and profits in 6 projects by fictitious and third-party business and early recognition of project income, resulting in an inflated operating income of 2424 in 2021130,000 yuan, accounting for 509%；Considering the impact of bad debt losses, impairment and other factors, the inflated profit was 1721190,000 yuan, accounting for 3645%。
4) There are false records in the 2022 annual report.
Affected by related projects from 2018 to 2021, Huichen shares overcounted bad debt losses and goodwill impairment in 2022, and reduced profits by 10,496200,000 yuan, accounting for 49 percent of the absolute value of the total disclosed profit for the current period84%。
The company and the then chairman were fined a total of 16 million.
The Beijing Securities Regulatory Bureau pointed out that the above-mentioned behavior of Huichen shares violated the provisions of the second paragraph of Article 78 of the ** Law, and constituted an illegal act under the second paragraph of Article 197 of the ** Law.
He Kanchen was the general manager of Xintang Puhua at the time, fully presided over the operation and management of Xintang Puhua, and organized and arranged the behavior of inflating income and profits in the Xintang Puhua case, which directly led to the illegal disclosure of Huichen's sharesHe Kanchen was the deputy general manager of Huichen Co., Ltd. at the time, and signed a written confirmation opinion on the 2020 and 2021 annual reports disclosed by Huichen Co., Ltd. and guaranteed that the content of the above documents was true, accurate and complete. According to the provisions of the third paragraph of Article 82 of the ** Law, He Kanchen is the person in charge directly responsible for the illegal information disclosure of Huichen shares.
Zhao Long was the chairman and general manager of Huichen Co., Ltd. at the time, fully presided over the company's operation and management, and signed a written confirmation opinion on the "Prospectus to 2022 Annual Report" disclosed by Huichen Co., Ltd. and guaranteed that the content of the above documents was true, accurate and complete, and was not diligent and conscientious. According to the provisions of the third paragraph of Article 82 of the ** Law, Zhao Long is the person in charge directly responsible for the illegal information disclosure of Huichen shares.
Xu Jingwu was the financial director and secretary of the board of directors of Huichen shares at the time, in charge of the company's finance and information disclosure, and signed a written confirmation opinion on the "prospectus to 2022 annual report" disclosed by Huichen shares and guaranteed that the content of the above documents was true, accurate and complete, and was not diligent and conscientious. According to the provisions of the third paragraph of Article 82 of the ** Law, Xu Jingwu is the person in charge directly responsible for the illegal information disclosure of Huichen shares.
Ma Liang was a director, member of the audit committee and technical director of Huichen Co., Ltd., presided over the technology research and development work, and provided technical support for the business of various departments and subsidiaries of the companyMa Liang has served as a director of Sino-Tang Puhua since December 2020 and has participated in the management of the day-to-day business of Sino-Tang Puhua on behalf of Huichen Shares. According to the provisions of paragraph 3 of Article 82 of the ** Law, Ma Liang is the person in charge directly responsible for the illegal information disclosure of Huichen shares.
Based on the facts, nature, circumstances and degree of social harm of the parties' illegal acts, and in accordance with the provisions of the second paragraph of Article 197 of the ** Law, the Beijing Securities Regulatory Bureau decides:
1. Beijing Huichen Zidao Information Co., Ltd. was ordered to make corrections, given a warning, and imposed a fine of 5 million yuan
2. He Kanchen was given a warning and fined 3 million yuan
3. Zhao Long was given a warning and fined 3 million yuan
4. Give Xu Jingwu a warning and impose a fine of 2.5 million yuan;
5. Ma Liang was given a warning and fined 2.5 million yuan.
A number of directors, supervisors and senior executives at the time were warned.
At the same time, due to the above matters, a number of directors, supervisors and senior executives of *ST Huichen were warned.
According to another announcement disclosed by *ST Huichen on the evening of the 22nd, the company received the "Decision on Administrative Supervision Measures" ([2023] No. 252) issued by the Beijing Supervision Bureau of the China ** Supervision and Administration Commission.
According to the Decision on Administrative Supervision Measures, the Beijing Securities Regulatory Bureau believes that Liu Xiaokui, He Wei, Li Yonglin, and Jiang.
1. Ma Shaoping, Hong Jinming, Zhang Wenli, Zhang Haiping, He Xiaoman, Wu Yunchuan, Zhu Fengjia, and Yu Bingyi, as the then directors, supervisors, and senior managers of Huichen Shares, are responsible for the above-mentioned information disclosure violations of Huichen Shares, violating the provisions of Article 3 and Article 58, Paragraph 1 of the 2007 "Information Disclosure Measures", and Article 4 and Article 51, Paragraph 1 of the "Information Disclosure Measures" in 2021.
In accordance with the provisions of Article 52 of the 2021 "Information Disclosure Measures", the Beijing Securities Regulatory Bureau decided to impose penalties on Liu Xiaokui, He Wei, Li Yonglin, and Jiang.
1. Ma Shaoping, Hong Jinming, Zhang Wenli, Zhang Haiping, He Xiaoman, Wu Yunchuan, Zhu Fengjia, and Yu Bingyi took administrative supervision measures of issuing warning letters, and recorded them in the market integrity file.
The company apologizes. For the above-mentioned penalties and regulatory decisions, *ST Huichen said that he sincerely apologized to investors for this matter. The company will learn from lessons and lessons, improve the quality of information disclosure, and strictly abide by relevant laws and regulations to safeguard the interests of the company and its shareholders.
At the same time, *ST Huichen pointed out that according to the provisions of the "Listing Rules of the Science and Technology Innovation Board of the Shanghai ** Exchange" and the situation stated in the "Administrative Penalty Decision", the company judged that the illegal acts involving information disclosure did not touch the "Listing Rules of the Science and Technology Innovation Board of the Shanghai ** Exchange" The situation of major illegal forced delisting has not been touched. As of the disclosure date of the announcement, the company's production and operation are normal.
According to the data, Beijing Huichen Zidao Information Co., Ltd. is a data analysis service provider. The company mainly provides enterprises and institutions with business management analysis and application products based on customer internal and external multi-dimensional data (including consumer attitude and behavior data, industry data, etc.), industry digital analysis and application solutions and other services, and is a scientific and technological innovation enterprise with data analysis and application technology as the coreThe company's main products are DMengine, scenario-based digital marketing engine, agricultural digital SaaS, etc.
In terms of performance, in the first three quarters of 2023, the company's revenue was 33.6 billion yuan, a year-on-year increase of 138%；The net profit loss attributable to shareholders of the listed company was 4100920,000 yuan, the loss increased compared with the same period last year.
In the secondary market, *ST Huichen closed at 25 on the 22nd22 yuan, according to Flush ifind data, *ST Huichen shares were listed on July 16, 2020, and the stock price once exceeded 120 yuan on the same day, and the stock price has continued to fall since then, and has fallen more than seventy percent, and the company's latest market value is 187.3 billion yuan. (Zhongxin Jingwei app).
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