Zhongxin Jingwei, January 29 According to the Shenzhen Stock Exchange, Yangzi New Materials was publicly condemned due to problems such as the occupation of non-operating funds.
According to the China Securities Regulatory Commission and the Shenzhen Stock Exchange, Yangzi New Materials and related parties have the following violations:
1. Occupation of non-operating funds.
From 2018 to 2020, Hu Weilin, as the second largest shareholder and then general manager of Yangzi New Materials, held 95% of the shares of Suzhou Kaiyuan Metal Materials*** (hereinafter referred to as "Kaiyuan Metal") through equity holding, and was the largest shareholder of Kaiyuan Metal. Hu Weilin is an affiliated natural person of the company, and Kaiyuan Metal is an affiliated legal person of the company. Hu Weilin used Kaiyuan Metal, Suzhou Huifeng Yuan Materials, Jiangsu Haifeng New Materials, Suzhou Tianchuang Materials, etc., to occupy the funds of the company and its holding subsidiary Suzhou Barot New Materials, Hangzhou Xinyongfeng Steel, hereinafter referred to as "Xinyongfeng"), through overpayment and advance payment. Among them, the occupied balance at the end of 2018 was about 19.8 billion yuan. At the same time, the above transactions were not disclosed in the 2018 annual report as required. The company still refused to disclose the true flow of the advance payment after the preliminary regulatory inquiry.
2. Failure to perform the review procedures and information disclosure obligations for related party transactions.
In 2020, the company and its subsidiary Xinyongfeng had related party transactions with Kaiyuan Metal of about 7005830,000 yuan, accounting for about 21 of the company's audited net assets for the year8%。The Company failed to perform the review procedures and information disclosure obligations for the above-mentioned related party transactions, and the above-mentioned transactions were not disclosed in the 2020 annual report as required.
3. There are false records in the 2020 annual report.
In 2020, the company sold the galvanized coils produced by its subsidiary Xinyongfeng to Kaiyuan Metal and other companies, and then sold them to the company directly or through a third party, forming a closed loop of transactions and inflating operating income. The company's inflated operating income in 2020 is about 13.7 billion yuan, accounting for about 11% of the operating income of the 2020 annual report.
*: Shenzhen Stock Exchange.
The Shenzhen Stock Exchange pointed out that the above-mentioned behavior of Yangzi New Materials violated relevant regulations; Hu Weilin, the general manager at the time, led the implementation of the above-mentioned violations, failed to fulfill his duties and perform his duties of integrity and diligence, and was responsible for the above-mentioned violations; Bao Jun, the then chief financial officer, failed to perform his duties of good faith and diligence and was responsible for the above breaches; Wang Gonghu, the then chairman of the board, and Qin Wei, the then chief financial officer, failed to fulfill their duties and perform their duties of integrity and diligence, and were responsible for the above violations 2 and 3; Sun Zhefeng, the chairman of the board at the time, failed to fulfill his duties and perform his duties of good faith and diligence, and was responsible for the above violations.
In accordance with the relevant regulations, the Shenzhen Stock Exchange has made the following sanction decisions:
1. Hu Weilin, the then general manager, was publicly determined to be unsuitable to serve as a director, supervisor, or senior manager of a listed company for 10 years;
2. Give a public reprimand to Yangzi New Materials;
3. Give public reprimand to Hu Weilin, then general manager, Wang Gonghu, then chairman, Bao Jun, then chief financial officer, and Qin Wei, then chief financial officer;
Fourth, the then chairman Sun Zhefeng was given the punishment of circulating criticism.
According to the company's official website, Yangzi New Materials was founded in 2002 with a registered capital of 51.2 billion yuan, and was listed on the Shenzhen Stock Exchange in 2012, with its main business of "new materials + urban services".
On the 27th, Yangzi New Materials released a performance forecast, which is expected to turn losses into profits in 2023, and the net profit attributable to shareholders of listed companies will be 25 million yuan and 32 million yuan.
* In terms of Yangzi New Materials, Yangzi New Materials closed down 2 on the 29th33% with a total market capitalization of 150.5 billion yuan. (Zhongxin Jingwei app).
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