According to the announcement of Safbon Water Service (Holding) Inc.Shanghai(300262) , the company received the decision on Issuing warning letter for Safbon Water Service (Holding) Inc.Shanghai(300262) issued by Shanghai regulatory bureau of China Securities Regulatory Commission (hjzz [2022] No. 24) on February 15, 2022.
Upon investigation, Safbon Water Service (Holding) Inc.Shanghai(300262) as the issuer of corporate bonds, has the following problems:
the management and use of raised funds are not standardized
1. The raised funds were not used in strict accordance with the approved purposes. Safbon Water Service (Holding) Inc.Shanghai(300262) the actual use of the raised funds of “17 ba’an bonds” is inconsistent with the prospectus.
2. Safbon Water Service (Holding) Inc.Shanghai(300262) failed to strictly implement the regulations on the management and use of the special account for raised funds, transferred the raised funds of “17 ba’an bonds” from the special account to other accounts of the company from October to December 2017, and used part of the raised funds through other accounts.
The above-mentioned acts violate the provisions of paragraphs 1 and 2 of Article 15 of the measures for the administration of corporate bond issuance and Trading (CSRC Order No. 113).
failure to timely disclose major events that may affect solvency
By the end of September 2018, the loan balance of Safbon Water Service (Holding) Inc.Shanghai(300262) had increased by 472.8474 million yuan compared with the loan balance at the end of 2017, accounting for 21.97% of the net assets at the end of 2017. Safbon Water Service (Holding) Inc.Shanghai(300262) did not disclose in time the above matters that the accumulated new loans of the current year exceeded 20% of the net assets at the end of the previous year, and did not disclose them until June 11, 2019.
The above-mentioned acts violate the provisions of item 5, Article 45 of the measures for the administration of corporate bond issuance and Trading (Order No. 113 of the CSRC).
the information disclosed in the relevant annual periodic report is inaccurate
1. the controlled investment object is not included in the scope of consolidated statements
By the end of December 2017, Safbon Water Service (Holding) Inc.Shanghai(300262) had obtained the control of Nanchang ba’an boning environmental protection industry investment center (limited partnership). Safbon Water Service (Holding) Inc.Shanghai(300262) in the annual report from 2017 to 2019, Nanchang ba’an boning environmental protection industry investment center (limited partnership) was not included in the scope of consolidated statements, which did not comply with the relevant provisions of the accounting standards for business enterprises.
2. incomplete disclosure of land use right mortgage
In May 2020, Dongying Deyou Environmental Protection Technology Co., Ltd., a wholly-owned subsidiary of Safbon Water Service (Holding) Inc.Shanghai(300262) , provided a mortgage guarantee for 86551.79 square meters of industrial land to Suzhou Financial Leasing Co., Ltd., and the debt attached to the mortgage was from May 26, 2020 to May 26, 2028. Safbon Water Service (Holding) Inc.Shanghai(300262) in the 2020 semi annual report, the mortgage of the above land use right was not disclosed.
3. inaccurate disclosure of limited funds
Safbon Water Service (Holding) Inc.Shanghai(300262) the 2019 annual report disclosed a total of 208291300 yuan of restricted funds at the end of the period, which is inconsistent with the actual amount of restricted funds at the end of 2019.
4. the disclosure of the objects and amounts of the top five other receivables and prepayments is inaccurate
Safbon Water Service (Holding) Inc.Shanghai(300262) the top five objects and amounts of other receivables and the top five objects and amounts of prepayments presented in the 2019 annual report and the 2020 semi annual report are inconsistent with the actual situation.
The above-mentioned acts violate the provisions of articles 4 and 42 of the measures for the administration of corporate bond issuance and trading.
According to the provisions of Article 58 of the measures for the administration of corporate bond issuance and Trading (Order No. 113 of the CSRC), Shanghai Securities Regulatory Bureau takes the administrative supervision measures of issuing warning letters for Safbon Water Service (Holding) Inc.Shanghai(300262) .
According to the data on the official website, Safbon Water Service (Holding) Inc.Shanghai(300262) was founded in 1995. The company’s main business covers industrial water treatment, municipal water treatment and solid waste treatment. It is an intelligent and all-round technical solution operator and service provider specializing in the field of environmental protection and energy.
On the secondary market, as of the closing on the 15th, Safbon Water Service (Holding) Inc.Shanghai(300262) reported 3.35 yuan / share, down 1.47%.
