On July 10, Jinzi Ham (SZ002515, stock price of 4.30 yuan, market value of 4.207 billion yuan) announced that the company had received the “Administrative Penalty Notice in Advance” from the Zhejiang Securities Regulatory Bureau on the company’s suspected information disclosure violation case on July 8. Book”.
According to the announcement, the Zhejiang Securities Regulatory Bureau found out that Jinzi Ham was suspected of “failure to disclose major losses in futures trading” and “lack of timely disclosure of the receipt of large amounts of compensation.”
Specifically, in September 2021, without authorization, the company’s futures trader Yang sold the futures contract to close the position. As of September 30, 2021, the company’s futures account has accumulated a loss of 55.1053 million yuan, accounting for 92.92% of the net profit attributable to shareholders of the listed company in 2020. After the loss occurred, Yang, a futures trader, compensated the company in full in accordance with the assessment regulations. The above situation will be disclosed by the company as late as January 27, 2022.
The Zhejiang Securities Regulatory Bureau pointed out that Shi Yanjun, then chairman of the company, Wang Qihui, then secretary of the board of directors, and Wu Yuexiao, then chief financial officer, were directly responsible for the company’s information disclosure violations. The bureau plans to decide to order Jinzi Ham to make corrections, give a warning, and impose a fine of 500,000 yuan; Shi Yanjun, Wang Qihui, and Wu Yuexiao will be given a warning and a fine of 200,000 yuan respectively.
Jinzi Ham said that as of the announcement date, the company’s production and operation conditions have not changed significantly at present… The company will cooperate with the follow-up work of the China Securities Regulatory Commission to improve the level of compliance management and internal control to avoid similar problems from happening again.
However, the “Daily Economic News” reporter noticed that at least the financing process of Jinzi Ham has been affected by the above-mentioned events.
On May 27, Jinzi Ham decided to terminate the non-public issuance of A shares in 2021. The reason is that the company has been investigated by the China Securities Regulatory Commission for suspected information disclosure violations, which currently does not meet the issuance conditions for non-public offering of shares.
Source of cover image: Photo Network-500863894
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