On February 16, Guangzhou Haozhi Industrial Co.Ltd(300503) announced that the company had recently received a notice from Tang Xiuqing, who had received the decision on obtaining bail pending trial issued by Jinhua Public Security Bureau and the release certificate issued by Jinhua detention center, and decided to obtain bail pending trial and release him. This survey is a personal survey of relevant personnel of the company, not involving the company. At present, the production and operation of the company is normal.
Guangzhou Haozhi Industrial Co.Ltd(300503) the relevant storm began in May 2021 when ye Fei, a private placement person, said that the company had colluded with the disk side to carry out market value management and “default”.
Thereafter, the event continued to ferment. On September 28 last year, Guangzhou Haozhi Industrial Co.Ltd(300503) announced that some shares of the company held by the controlling shareholder Tang Xiuqing were frozen by the judiciary, and the freezing executor was Jinhua Public Security Bureau. Two days later, the company further announced. Tang Xiuqing was filed for investigation by the CSRC on suspicion of manipulating the securities market.
On December 29 last year, Guangzhou Haozhi Industrial Co.Ltd(300503) announced that Tang Xiuqing and Xiao Yonglin, the company’s director, deputy general manager, board secretary and chief financial officer, were under residential surveillance by Jinhua Public Security Bureau on suspicion of manipulating the securities and futures markets.
From January 22 to 24 this year, Guangzhou Haozhi Industrial Co.Ltd(300503) repeatedly announced that the company had received the “decision on obtaining bail pending trial” issued by Jinhua Public Security Bureau, and Xiao Yonglin was released on bail pending trial; The company received the detention notice issued by Jinhua Public Security Bureau, and Tang Xiuqing was criminally detained. In this regard, the company said that the board of directors and management of the company will strengthen operation and management to ensure the normal operation of the company’s business activities.
What does it mean to be on bail? The reporter of Securities Daily consulted a number of lawyers and experts.
“The bail pending trial allows the suspect or defendant to be free from imprisonment, giving certain freedom of action. In judicial practice, the factors generally considered include non violent crimes, full confession and no regrets, no crime of collusion, and minor crimes. The case Guangzhou Haozhi Industrial Co.Ltd(300503) Tang Xiuqing should meet these situations. In this case, the investigation organ immediately made the decision to obtain a guarantor pending trial, which showed that Tang Xiuqing’s suspected matter was not serious, “lawyer Tian Yong, director of Guangdong Shengma law firm, told reporters.
Ouyang Lina, a lawyer from Beijing Dacheng (Shenzhen) law firm, added to the reporter that according to the previous company announcement, it can be inferred that the investigation of this case has been started since September last year, and Tang Xiuqing has been criminally detained for less than 37 days since January 23. According to the provisions of the criminal procedure law, Tang Xiuqing’s suspected matters may be punished or relatively light.
The announcement that Tang Xiuqing, the actual controller of the company, was released on bail has attracted a lot of attention in the market. Insiders told reporters that due to being investigated by law enforcement authorities for suspected crimes, the two directors will still face the situation of losing their qualification as directors and supervisors of listed companies. There are still problems in the operation of the company, such as the management governance structure to be improved. Small and medium-sized investors should choose carefully.
