On February 4, the China Securities Regulatory Commission held a meeting of the Party Committee to convey its determination to maintain the stability of the capital market, which focused on strictly controlling the entry of listed companies and vigorously improving the quality of listed companies.
On January 29, the official website of the Shanghai Stock Exchange announced a decision to issue regulatory warnings to Haitong** and Jiang Chengjun, the then head of the sponsor business, and the two sponsor representatives of the relevant sponsor projects, Yan Ying and Xie Dan, were also criticized by the Shanghai Stock Exchange on the same day.
According to the decision on regulatory measures and the decision on disciplinary sanctions, the on-site supervision of the Shanghai Stock Exchange found that Haitong** was obviously not in place to perform its duties and responsibilities in the initial sponsorship business; The quality control kernel department of the investment bank failed to identify the major risks of the project and was not prudent in due diligence. However, the project sponsor representative designated by the company did not perform the sponsor duties properly, and there were a number of violations such as insufficient verification of related parties, insufficient verification of income, and insufficient verification of gross profit margin and cost. At present, the relevant sponsorship project has withdrawn the declaration.
Although the enterprises involved in the project have not been disclosed, the reporter of "Dazhong ** Daily" found that Hangzhou Baizijian Technology Co., Ltd. (hereinafter referred to as "Baizijian") is consistent with many details in the decision.
First of all, the sponsor representative information is completely consistent. In a report signed on June 5, 2023 on the initial public offering of Hangzhou Baizijian Technology Co., Ltd. and listing counseling, Yan Ying and Xie Dan, who were criticized by the Shanghai Stock Exchange, jointly signed their names in the counselor column. Through the details of the "Listing Rules of the Science and Technology Innovation Board of the Shanghai **Stock Exchange" mentioned in the report, it seems that Baizijian intends to land on the Science and Technology Innovation Board, which Haitong ** is best at sponsoring.
Second, the information of the previous reporting period overlapped. According to the information in the decision, the project is a second application project, and the previous declaration reporting period is from 2017 to January to June 2020. At the end of 2020, Baizijian sprinted through the Science and Technology Innovation Board, and the sponsor at that time was Bank of China International**, and the reporting period disclosed in the prospectus at that time was from 2017 to the first half of 2020. However, after being selected for on-site inspection, it quickly withdrew its listing application documents.
Finally, the controlling shareholder of 1497The information of other payables of 170,000 yuan is completely consistent. The prospectus disclosed by Baizijian in 2020 shows that it has 1497 with its related party Hangzhou Gongsoft$170,000 in other payables. And Hangzhou Gongsoft is the controlling shareholder of Baizijian.
Is Baizijian the sponsor of the relevant project? The reporter called the general manager's office of Haitong, but no one answered. Subsequently, the reporter called Baizijian again, but ** did not respond after prompting "please dial '0' to check the number".
The reporter of "Dazhong ** Daily" has previously paid attention to the frequent situation of Haitong ** in the sponsorship business, and published relevant reports. According to incomplete statistics, from December 2022 to November 2023 alone, Haitong** has 5 sponsor projects that are "withdrawn after inspection".
According to the 2023 annual performance forecast announcement released by Haitong**, the company is expected to achieve a net profit attributable to the parent company of 9$1.8 billion to $10100 million yuan, a year-on-year decrease of 8457% to 8597%。
The strict supervision of the entrance gate will further consolidate the duties of the 'gatekeeper'. Zhao Jingguo, a lawyer at Shanghai Xinben Law Firm, said that in the long run, allowing truly high-quality companies to land on A-shares will not only help purify the capital market environment, but also help protect the vital interests of investors.
Reporter Chen Zhi.