“Local tyrant trader” has a story of “Zhejiang good father-in-law”, and finally has a realistic ending.
On March 9, Jinzi Ham Co.Ltd(002515) ( Jinzi Ham Co.Ltd(002515) , SZ) announced that it had received the decision on Issuing warning letter to Jinzi Ham Co.Ltd(002515) and relevant personnel issued by Zhejiang securities regulatory bureau. After investigation, the company had many problems, including the failure to disclose major losses in futures trading in time, the failure to disclose large amount of employee compensation received by the company in time The non-standard accounting treatment leads to inaccurate disclosure of the third quarterly report, failure to fulfill the review and disclosure procedures of excess margin, etc.
In particular, Zhejiang securities regulatory bureau pointed out that in September 2021, the company’s futures account invested a total of 70 million yuan, exceeding the amount of 50 million Yuan approved by the board of directors, and the margin invested in the futures account did not fulfill the review and disclosure procedures. In addition, Jinzi Ham Co.Ltd(002515) ‘s futures business risk control system has some defects, such as lack of effective supervision of accounts, inadequate operation authorization management and so on.
The above acts violate the relevant provisions of the measures for the administration of information disclosure of listed companies and the standards for the governance of listed companies Jinzi Ham Co.Ltd(002515) then chairman Shi Yanjun, then president and chief financial officer Wu Yuexiao, and then Secretary of the board of directors Wang Qihui bear the main responsibility for the above violations. Zhejiang securities regulatory bureau decided to take the supervision and management measures of issuing warning letters to the company, Shi Yanjun, Wu Yuexiao and Wang Qihui respectively, and record them in the integrity archives of the securities and futures market.
“You should seriously draw lessons, strengthen the study of securities laws and regulations, improve the standard operation level and information disclosure quality of the company, and submit a written rectification report to our bureau within 10 working days from the date of receiving this decision, so as to prevent such violations from happening again in the future.” Zhejiang securities regulatory bureau said.
It is worth noting that on August 24, 2021, Jinzi Ham Co.Ltd(002515) futures account generated a total floating loss of 113101 million yuan, accounting for 19.07% of the audited net profit attributable in 2020, and exceeded 10 million yuan for the first time, which has met the disclosure requirements. However, the company did not disclose the major losses of the above futures transactions until January 27, 2022, and the disclosure of major losses was not timely.
In this regard, Jinzi Ham Co.Ltd(002515) said that the company had stopped futures related business operations since September 30, 2021, and the relevant accounting errors in the third quarterly report of 2021 had been corrected. After receiving the above administrative supervision measures, the company and relevant responsible persons attach great importance to it, and will make practical rectification in strict accordance with the relevant requirements of Zhejiang securities regulatory bureau, strengthen the study of securities laws and regulations, improve the standardized operation level and information disclosure quality of the company, ensure the authenticity, accuracy and integrity of the disclosed information, promote the healthy, stable and sustainable development of the company and safeguard the interests of the company and all shareholders.
