Securities code: Sundy Land Investment Co.Ltd(600077) securities abbreviation: Sundy Land Investment Co.Ltd(600077) Announcement No.: pro 2022047 Sundy Land Investment Co.Ltd(600077)
Announcement on receiving the decision on administrative supervision measures
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Sundy Land Investment Co.Ltd(600077) (hereinafter referred to as “the company” or “the company”) recently received the decision on Issuing warning letters to Sundy Land Investment Co.Ltd(600077) and relevant responsible persons (administrative supervision measures decision [2022] No. 37) (hereinafter referred to as “the decision”) issued by Zhejiang regulatory bureau of China Securities Regulatory Commission (hereinafter referred to as “the decision”), and now the specific contents are announced as follows:
On March 23, 2022, the company disclosed the announcement of the completion and termination of the employee stock ownership plan in 2018. The above employee stock ownership plan sold all 33028700 Sundy Land Investment Co.Ltd(600077) shares on March 22 and March 23. According to the company’s announcement on March 27, the company’s 2018 employee stock ownership plan committee decided to sell the shares of the employee stock ownership plan on March 8, 2022.
On March 13, 2022, the inquiry letter of Shanghai stock exchange required the company to check the subsequent reduction arrangements of relevant parties and make an announcement within 5 trading days. The company issued an extension reply announcement on March 18 until some reply announcements were issued on March 27. From March 14 to 22, the company’s shares rose for seven consecutive trading days. During the stock trading change, the company issued abnormal fluctuation announcements and risk warning announcements for many times, but did not prompt the reduction arrangement of the employee stock ownership plan. The company’s information disclosure is not timely and there are violations of major omissions.
The above acts of the company and relevant personnel violate the relevant provisions of Articles 3 and 4 of the measures for the administration of information disclosure of listed companies (Order No. 182 of the CSRC). Yu Jianwu, chairman and President of the company, and Zheng Xiliang, Secretary of the board of directors, shall bear the main responsibility for the above violations. In accordance with the relevant provisions of articles 51 and 52 of the measures for the administration of information disclosure of listed companies (Order No. 182 of the CSRC), our bureau has decided to take the supervision and management measures of issuing warning letters to you respectively, and record them in the integrity file. You should submit a written rectification report to our bureau within 10 working days after receiving this decision. If you are not satisfied with these regulatory measures, you can apply for administrative reconsideration to the China Securities Regulatory Commission within 60 days from the date of receiving this decision, or you can bring a lawsuit to the people’s court with jurisdiction within 6 months from the date of receiving this decision. During the period of reconsideration and litigation, the above regulatory measures shall not be suspended.
The company and relevant personnel attach great importance to the problems pointed out in the decision of Zhejiang securities regulatory bureau. The company will also seriously learn lessons, organize relevant personnel to strengthen the study of laws, regulations and normative documents of listed companies, improve the awareness of standardized operation, continuously improve the quality of information disclosure, and promote the healthy, stable and sustainable development of the company.
It is hereby announced.
Sundy Land Investment Co.Ltd(600077) board of directors April 1, 2022
