Zhongxin Jingwei, December 29 - On the 29th, the Shenzhen Stock Exchange issued a regulatory letter to Ocean King Lighting Technology Co., Ltd. (hereinafter referred to as "Ocean King").
*: Shenzhen Stock Exchange**.
According to the Shenzhen Securities Regulatory Bureau's "Decision on Ordering Corrective Measures against Ocean King Lighting Technology Co., Ltd." (No. 2023 No. 276) and "Decision on Issuing Warning Letters to Yang Zhijie and Chen Yan" (No. 2023 No. 277), the company has the following violations:
First, corporate governance is not perfect. The remuneration plan of the company's directors, supervisors and senior management personnel was not submitted to the company's board of directors and the general meeting of shareholders for deliberation, the minutes of the board of directors and the board of supervisors did not record the main points of the speeches of relevant personnel, and the voting statistics of individual shareholders' meetings were inaccurate.
Second, financial accounting is not standardized. Shenzhen Mingzhihui Construction Engineering Co., Ltd., a subsidiary, has financial accounting irregularities such as incorrectly calculating and recognizing revenue in accordance with the performance schedule for some lamp sales business, incorrectly listing some completed but unsettled projects as inventory in the financial statements, failing to adjust the total budget cost of some projects in a timely manner, and failing to make impairment provisions for contract assets related to completed and unsettled projects completed at the end of 2020.
Yang Zhijie, the rotating president, and Chen Yan, the rotating president, chief financial officer and secretary of the board of directors, failed to exercise due diligence and were responsible for the above violations.
The Shenzhen Stock Exchange said that it hopes that the company and all directors, supervisors and senior managers will earnestly learn lessons, and remind the company and all directors, supervisors and senior managers to strictly abide by the "** Law", "Company Law" and other laws and regulations, as well as the "** Listing Rules" and related regulations, to prevent such incidents from occurring.
Zhongxin Jingwei noticed that earlier today, Ocean King Lighting Technology Co., Ltd. issued an announcement saying that due to imperfect corporate governance and non-standard financial accounting, the company was required by the Shenzhen Securities Regulatory Bureau to make corrections, and Yang Zhijie and Chen Yan were warned.
According to the information on the company's official website, Ocean King Lighting Technology Co., Ltd. was established in August 1995 and is a private joint-stock high-tech enterprise that independently develops, produces and sells various professional lighting equipment, lighting + intelligent control systems, service products, and contracts various lighting projects.
In terms of performance, the company achieved revenue of 114.2 billion yuan, down 572%；Net profit attributable to shareholders of listed companies was 890080,000 yuan, a year-on-year increase of 098%。(Zhongxin Jingwei app).
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