On March 9, the Shanghai Stock Exchange disclosed the decision on disciplinary action against China Security Co.Ltd(600654) , the controlling shareholder Shenzhen Zhongheng Huizhi Investment Co., Ltd., the actual controller Tu Guoshen and relevant responsible persons and other disciplinary decisions and regulatory warnings. After investigation, St Guoan has the following violations: first, it failed to disclose the major changes in the “banbantong” project in time, resulting in a serious false increase in the appraisal value of the assets placed in the reorganization; Second, the “smart Shiguai” project did not meet the revenue recognition conditions, and Zhongan consumer technology falsely increased the operating revenue of 2013; Third, the project income undertaken by BT was not measured at fair value, and zhonganxiao technology falsely increased the operating income in 2013; Fourth, the disclosure of restructuring predictive information is inaccurate, and the performance commitment party fails to fulfill its commitments.
The Shanghai Stock Exchange made the following disciplinary decisions: publicly condemn China Security Co.Ltd(600654) , the controlling shareholder Shenzhen Zhongheng Huizhi Investment Co., Ltd., the actual controller Tu Guoshen and the then Chairman Huang Feng, and publicly determine that Tu Guoshen is not suitable to serve as a director, supervisor and senior manager of a listed company within 10 years; Zhu Xiaodong, then director and general manager, Qiu Zhongcheng, then director and chief financial officer, Yin Chengliang, Jiang Zhiwei and Chang Qingyu, then independent directors, were criticized in a circular. In addition, Zhang Xingxing, then Secretary of the board of directors of the company, was given a regulatory warning.
