*Chairman of ST Poten resigned, banned from the ** market for 7 years
ST Botian (603603) issued an announcement on the evening of March 1, sayingZhao Lijun, chairman and president of Poten Environment Group Co., Ltd., resigned as chairman, director, convener of the strategy committee of the board of directors, member of the audit committee, and resigned as president of the company.
On February 18, 2024, the Beijing Securities Regulatory Bureau decided to impose a 7-year market ban on Zhao Lijun.
According to the data, *ST Potian's main business is:Industrial water systems, urban water resources, membrane products and recycling, soil and groundwater remediation, on February 17, 2017, it was listed on the Shanghai Stock Exchange.
Poten Environment's initial public offering of A-shares was announced. **Shanghai Stock Exchange.
[According to the previous public information review: on February 17, 2017, Poten Environment was officially listed on the Shanghai Stock Exchange, with an increase of 44% on the opening day, and then 17 daily limits appeared in a row, becoming the darling of the capital market].
In the secondary market, *ST Potian has been suspended since February 5, 2024, and on February 2, the trading day before the suspension, *ST Potian appeared "Earth and Sky Board", closing at 1 yuan share, with a total market value of 96.8 billion yuan.
*：wind
Financial fraud for five consecutive years*ST Poten was forcibly delisted
Prior Notice on the Proposed Termination of the Listing of Poten Environment Group Shares
On the evening of February 2, 2024, Poten Environment Group Co., Ltd. (hereinafter referred to as "Poten Environment" or *ST Potian) issued an announcement statingDue to financial fraud for 5 consecutive years,The Shanghai Stock Exchange has issued the "Prior Notice on the Proposed Termination of the Listing of Poten Environment Group Shares" (SSE Gonghan [2024] No. 0135) (hereinafter referred to as the "Notice") to the CompanyDecided to terminate the listing of the company**.
According to the facts determined by the administrative penalty decision of the China Securities Regulatory Commission, there were false records in the annual reports disclosed by the company from 2017 to 2021. The company's false record of information disclosure has a long duration, and the amount of false record is large and the proportion is high, which seriously damages the market order. The balance sheet disclosed by the company in 2020 and 2021 has been falsely recorded for two consecutive years, with the total amount of false records reaching more than 500 million yuan, and exceeding 50% of the total amount of net assets at the end of the year disclosed in those two years. The above situation has touched Article 9 of the Listing Rules of the Shanghai **Stock Exchange (Revised in August 2023) (hereinafter referred to as the "**Listing Rules").5.Article 1(1), Article 95.In the case of compulsory delisting for material violations as provided for in Item (4) of Paragraph 1 of Article 2, the mandatory delisting of material violations will be implemented.
*ST Poten will be suspended from the market open on February 5. Since the company has received the "Administrative Penalty Decision" issued by the Beijing Securities Regulatory Bureau on February 2, according to the rules, the Shanghai Stock Exchange will make a decision on whether to terminate the company's listing within 15 trading days. This means that *ST Poten may become the first case of forced delisting in 2024 with major violations.
Announcement on the risk warning of the company's suspension and termination of listing.
Poten Environment and 4 people were fined 13 million yuan
Judging from the "Administrative Penalty Decision" received by *ST Potian, *ST Potian has committed huge financial fraud for many years. The Beijing Securities Regulatory Bureau warned the company and the relevant responsible persons and fined a total of 13 million yuan.
According to the Beijing Securities Regulatory Bureau, based on the available evidence, the annual reports disclosed by Poten Environment from 2017 to 2021 contained false records, which violated the provisions of Article 63 of the 2005 ** Law and Article 78, Paragraph 2 of the ** Law, and constituted an illegal act of information disclosure under the first paragraph of Article 193 of the ** Law and the second paragraph of Article 197 of the ** Law of 2005.
Announcement on the receipt of the "Administrative Penalty Decision" by Poten Environment Group Co., Ltd.
ST Botian announced on February 27 that the company received the "Decision on Issuing Warning Letters to Wang Hongjun, Zhang Lei, Zhao Qing, etc. ([2024] No. 42, hereinafter referred to as the "Decision") issued by the Beijing Securities Regulatory Bureau
After investigation, Poten Environment Group Co., Ltd. (hereinafter referred to as Poten Environment or the Company) has the following violations:
On March 31, 2023, Poten Environment disclosed the "Announcement on the Correction of Accounting Errors and Retrospective Adjustment in the Previous Period", which made retrospective adjustments to the consolidated financial statements and the financial statements of the parent company from 2017 to 2021, and at the same time corrected the consolidated financial statements and the financial statements of the parent company for the first three quarters of 2022.
From 2017 to 2019, Poten Environment had inflated its operating income and profits, mainly in the following ways: first, it failed to timely account for the terminated equipment sales business, and offset the current payments caused by the inflated income by signing a false entrustment payment agreement, which involved the Hefei Qingxi Project; The second is the failure to timely account for the completed and settled projects, and to offset the current payments caused by the inflated income by signing a false entrustment payment agreement, which involves EPC projects such as Yankuang Yulin's 1 million tons of coal indirect liquefaction demonstration project, sewage treatment plant and general contracting project of reuse water treatment project; The third is to use the inspection and valuation voucher without commercial substance to confirm the progress of the project, and conceal the false income by signing false creditor's rights and debts transfer agreements and entrusted payment agreements, which involve PPP projects such as the village-level domestic sewage treatment PPP project in Leizhou City.
The above-mentioned behavior of Poten Environment violated the provisions of Article 2, Paragraph 1 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 40 of the CSRC) and Article 3, Paragraph 1 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 182 of the CSRC). As the then directors, supervisors and senior managers of Poten Environment, you are responsible for the above-mentioned illegal information disclosure of the Company in accordance with Article 3 and Article 58, Paragraph 1 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 40 of the CSRC), and Articles 4 and Paragraph 1 of Article 51 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 182 of the CSRC). In accordance with the provisions of Article 52 of the Administrative Measures for Information Disclosure of Listed Companies (Decree No. 182 of the CSRC), our bureau has decided to take administrative supervision measures against you by issuing a warning letter, and recorded it in the market integrity file.
* Strictly crack down on illegal information disclosure such as fraudulent issuance and financial fraud
On January 24, Wang Jianjun, vice chairman of the China Securities Regulatory Commission, said in an interview that the China Securities Regulatory Commission will further improve the anti-counterfeiting system and mechanism of the capital market and maintain a high-pressure situation of "zero tolerance". For fraudulent issuance and other illegal acts that seriously harm the interests of investors, we will resolutely crack down on them and let them "go bankrupt and sit in prison". The intermediaries involved in the fraud will be held accountable, so that they dare not do it again.
On February 4, the China Securities Regulatory Commission (CSRC) issued another announcement stating that the CSRC has always carried out an all-round "zero tolerance" crackdown on fraudulent issuance, resolutely blocked the issuance and listing of "passing through the hurdle with illness", and protected the legitimate rights and interests of investors from the source. One isStrengthen three-dimensional accountability, so that counterfeiters "go bankrupt and sit in prison"; The second isImplement the concept of "declaration is responsibility", "check and withdraw", and don't think about "leaving"; The third isAdhere to the full coverage of the crackdown, covering key links such as declaration, registration, and issuance, involving key sectors such as the main board, the Science and Technology Innovation Board, the Growth Enterprise Market, and the Beijing Stock Exchange.