Panda Financial Holding Corp.Ltd(600599) it was announced on December 22 that the company received an inquiry letter from the Shanghai Stock Exchange on December 22. The Shanghai Stock Exchange asked the company to explain whether yinhu.com, a wholly-owned subsidiary of the company, has used its own cashing funds to invest in the company’s shares, whether it has fulfilled the necessary decision-making procedures, whether it is legal and compliant, and whether it has harmed the interests of creditors.
On December 22, Panda Financial Holding Corp.Ltd(600599) announced that Zhang Yiying, the person in charge of yinhu.com’s Investor Rights Protection Committee, and Chen Jiangen, the person acting in concert, jointly held 18.13% of the company’s shares. The funds for equity changes came from the cashing funds of yinhu.com’s investors.
In this regard, the Shanghai stock exchange requires Panda Financial Holding Corp.Ltd(600599) to explain the specific time when the relevant account bought Panda Financial Holding Corp.Ltd(600599) and the reasons for the failure to timely fulfill the obligation of information disclosure in the early stage.
In view of Zhang Yiying’s expectation that after completing the cashing plan for the whole year this year, the remaining more than 200 million yuan of cashing investors’ funds will be used to invest in stocks, the Shanghai stock exchange requires Panda Financial Holding Corp.Ltd(600599) to explain whether the behavior is legal and compliant. At the same time, it also explains Zhang Yiying’s selection process, tenure and scope of responsibility as the person in charge of the investor rights protection committee of yinhu.com.
Panda Financial Holding Corp.Ltd(600599) said that the company did not control the wholly-owned subsidiary Yinhu network, which is currently in the charge of Dengkou haochang Consulting Service Co., Ltd. and its controller Liu Hai. In this regard, the Shanghai stock exchange requires it to explain: the reasons why the company did not implement effective control over Yinhu network; The reason why haochang company and its actual controller are responsible for Yinhu network and its commercial rationality, and whether necessary decision-making procedures are performed; The company’s arrangement for the future control of Yinhu network, etc.
(China Securities Journal · China Securities Network)
