Securities code: Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) securities abbreviation: Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) Announcement No.: 2022006 Suzhou Electrical Apparatus Science Academy Co.Ltd(300215)
Announcement on receiving the decision on administrative supervision measures of Jiangsu Securities Regulatory Bureau
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) (hereinafter referred to as “the company”) received the decision on administrative regulatory measures on ordering corrective measures against Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) issued by Jiangsu regulatory bureau of China Securities Regulatory Commission on March 18, 2022 ([2022] No. 22). The specific situation is hereby announced as follows:
1、 Main contents of the decision
Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) ：
After investigation, your company has the following violations:
First, revenue recognition is not standardized. Part of your company’s income in 2019, 2020 and the first half of 2021 is recognized according to the actual collection time point, which does not meet the income recognition conditions specified in the accounting standards for business enterprises, and there is a problem of cross period recognition of income. The above matters lead to inaccurate financial information disclosure in your 2019 annual report, 2020 annual report and 2021 semi annual report, which violates the provisions of Article 2 of the measures for the administration of information disclosure of listed companies (CSRC Order No. 40) and Article 3 of the measures for the administration of information disclosure of listed companies (revised in 2021) (CSRC Order No. 182).
Second, the revision of the information disclosure management system did not fulfill the review procedures. Your company revised and implemented the information disclosure management system for a long time in 2012. The above system has not been considered by the board of directors, which violates the provisions of paragraph 2, Article 37 of the measures for the administration of information disclosure of listed companies (Order No. 40 of the CSRC).
According to Article 59 of the measures for the administration of information disclosure of listed companies (Order No. 40 of the CSRC) and Article 52 of the measures for the administration of information disclosure of listed companies (revised in 2021) (Order No. 182 of the CSRC), our bureau has decided to take administrative regulatory measures to order your company to make corrections and record them in the integrity archives of the securities and futures market. Your company should attach great importance to the above problems, take effective measures to make practical rectification, consolidate the basic work of financial accounting, improve the professional level of financial personnel, improve and accurately disclose the revenue recognition policy, ensure the standardization of accounting and financial management, fulfill the obligation of information disclosure in a true, accurate, complete, timely and fair manner according to law, and submit a written rectification report to our bureau within 30 days from the date of receiving this decision.
If you are not satisfied with the supervision and administration measures, you can apply to the China Securities Regulatory Commission for administrative reconsideration within 60 days from the date of receiving the decision, or you can bring a lawsuit to the people’s court with jurisdiction within 6 months from the date of receiving the decision. During the period of reconsideration and litigation, the above administrative supervision measures shall not be suspended. 2、 Relevant description
After receiving the decision on administrative supervision measures, the company attached great importance to the problems pointed out therein. The board of directors of the company will rectify according to the requirements of Jiangsu securities regulatory bureau, form a rectification report as soon as possible, and timely perform the obligation of information disclosure according to relevant regulations. The directors, supervisors, senior managers and relevant staff of the company will take this rectification as an opportunity to strengthen the study of securities laws and regulations, strengthen the awareness of standardized operation, improve the internal control system, effectively improve the standard operation level of the company and prevent such problems from happening again.
3、 Documents for future reference
1. Decision on administrative supervision measures
It is hereby announced.
Suzhou Electrical Apparatus Science Academy Co.Ltd(300215) board of directors March 21, 2002
