aebaccarat| Seven companies including Dongxu Optoelectronics were filed by the China Securities Regulatory Commission on the same day
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On the evening of May 8th, seven companies, including Dongxu Optoelectronics, Dongxu Lantian, Puli Pharmaceuticals, Wechuang shares (rights protection), ST China Railway (rights protection), * ST Yuebo, and * ST Sansheng (rights protection), also announced that they had been filed by the China Securities Regulatory Commission on suspicion of failing to disclose annual reports and other information disclosure violations on time.
The reporter combed found that the above-mentioned companies may have failed to complete the verification and verification procedures, the resignation of the annual audit body, and the preparation and review of the 2023 annual report on time due to errors in previous financial reports, financial information, and other important matters; or due to internal control defects, the 2023 annual report failed to be audited due to "fidelity", resulting in the annual report not being disclosed on time.
According to the relevant regulations, if the 2023 annual report is not disclosed within two months of the suspension, the company's shares will be subject to a delisting risk warning. From the date when the company's stock trading is delisted risk warningAebaccaratThe relevant annual reports guaranteed by more than half of the directors have not been disclosed within two months, and the Shenzhen Stock Exchange will terminate the listing and trading of the company's shares.
Internal control defects are hard to hide
Failed to pass the audit
The annual reports of ST Huatie and Wechuang shares "difficult delivery" are all trapped in the fact that the annual report failed to be audited, and behind it is that the audit committee has doubts about the internal control of the company.
Take ST China Railway as an example, according to the company announcement, as of December 31, 2023, the balance of funds that had not been returned by the company's controlling shareholders and other related parties was about 1.3 billion yuan, and the rectification of the capital occupation problem did not meet expectations. At the same time, in the course of performing their duties, the independent directors and audit committee of the company found that there was still a non-operating capital outflow of related parties from ST China Railway during the reporting period of 2023, and at present, the company could not verify its nature and amount, and the independent directors and audit committee could not obtain sufficient information and reasonable explanation in the course of performing their duties.
As a result, the audit committee was unable to judge the authenticity, accuracy and completeness of ST Huatie's "2023 Annual report", which eventually led to its failure to be approved by more than half of the members.
Take a look at Wechuang shares, this is the second time that the company has been put on file for investigation. On December 23, 2023, Wechuang shares were filed by the China Securities Regulatory Commission on suspicion of illegal information disclosure. This time, Wechuang shares were once again filed by the China Securities Regulatory Commission on suspicion of failing to disclose annual reports on time and other information disclosure violations.
Retrospective announcement, as the third meeting of the audit committee of the sixth board of directors was not approved by a majority in the consideration of the company's 2023 annual financial report and internal control report, the 2023 annual report could not be submitted to the board of directors for consideration.
The reasons given by the audit committee include: the statement that the company has no actual controller in the financial report cannot be reasonably guaranteed; from September 28, 2023 to October 27, 2023, the company transferred a net 13% to Shenzhen Bohai Industrial Operation Group Co., Ltd.Aebaccarat26.9 billion yuan, the management was unable to judge the nature of the sum and could not carry out an impairment test. Therefore, it is impossible to judge the impact of the matter on the financial report and so on.
At the same time, the Board noted that there were other large capital entry and exit and transaction transactions in 2023; there was no guarantee that all significant and significant internal control deficiencies had been identified in the 2023 internal control self-evaluation report.
ST Huatie and Weichuang shares were suspended from trading since the opening of the market on May 6 due to the above-mentioned matters. According to the rules governing the listing of shares on the Shenzhen Stock Exchange, if the 2023 annual report cannot be disclosed within two months of the suspension of the company's shares, the company's shares will be given a delisting risk warning. The company's stock trading has not disclosed the relevant annual reports guaranteed by more than half of the directors within two months from the date of the delisting risk warning, and the Shenzhen Stock Exchange will terminate the listing of the company's shares.
It is not easy to solve the long-term accumulation of many companies.
The compilation of the annual report is blocked.
Puli Pharmaceutical, Dongxu Optoelectronics, Dongxu Lantian, * ST Yue Bo Annual report "dystocia" due to errors in the company's previous financial reports to be corrected, financial information and other related important matters failed to complete verification procedures, annual audit body resignation, etc., resulting in the preparation and review of the company's annual report blocked, resulting in the company's 2023 annual report could not be disclosed as scheduled.
For example, Hainan Securities Regulatory Bureau issued a decision on administrative supervision measures to Puli Pharmaceuticals, which showed that during the on-site inspection, Hainan Securities Regulatory Bureau found that the disclosure of financial information such as operating income and profits in the 2021 and 2022 annual reports of Puli Pharmaceuticals was inaccurate. The company needs to self-check the authenticity and accuracy of financial information such as annual operating income and profits.
The announcement shows that in view of the fact that the company has not yet completed its self-examination and may involve corrections of accounting errors in the 2021 and 2022 annual financial reports, the company will not be able to complete the preparation of the 2023 annual report on time. Trading in the company's shares and convertible bonds has been suspended since May 6. According to the relevant provisions of the gem listing rules, if the above problems are not resolved as scheduled, Puli Pharmaceuticals will be warned of the risk of delisting or face termination of listing.
And after the completion of the self-inspection and rectification, there is still a risk that the audit institution of the 2023 annual report will issue a non-standard audit opinion on the company's 2023 financial report. If an audit opinion is issued that is unable to express or negate the opinion, the company will be given a delisting risk warning.
* the more knowledgeable ST is, the more "tricky" the situation is. The announcement shows that due to failure to pay in accordance with the contract, the annual audit institution has resigned as the company's annual audit accountant in 2023. So far, the company has not yet determined the audit institution. If * ST fails to disclose the 2023 audit report within the statutory time limit, the company's shares are at risk of being terminated according to the gem listing rules.
At the same time, * ST's 2022 financial report reservations have not been eliminated. If the company is issued a non-standard audit report in 2023, it will involve delisting risk under the gem listing rules; if the company's audited net assets are negative in 2023, delisting risk will be involved in accordance with the gem listing rules.
