It has long been common for individual residents to encounter Telecom fraud, but it is really a little strange that listed companies with sound financial management system have also exposed themselves to telecom fraud.
Recently, the listed company Dare Power Dekor Home Co.Ltd(000910) disclosed in its 2021 annual report that Sun company was cheated by telecom for more than 22 million yuan, and the loss was included in non operating expenses, affecting about 4% of the net profit of the year. The annual report shows that the perpetrators invaded the company’s 365 email system rented by the company, forged fake emails, pretended to be members of the company’s management, forged supplier documents and email paths, and committed fraud.
Flies don’t bite seamless eggs Dare Power Dekor Home Co.Ltd(000910) encountered Telecom fraud, which also reflects the imperfection of its financial process and the non-standard and unprofessional internal management of the company. In fact, on December 7, 2021, Dare Power Dekor Home Co.Ltd(000910) was issued a warning letter by Jiangsu Securities Regulatory Bureau due to inaccurate disclosure of directors’ and supervisors’ high salaries and failure to strictly implement the company’s financial reimbursement system for expense reimbursement.
In the past two years, Metro Land Corporation Ltd(600683) , Suzhou Slac Precision Equipment Co.Ltd(300382) , Jiangxi Selon Industrial Co.Ltd(002748) and other listed companies have announced that they have encountered telecommunications fraud, some of which are not smallP align = “center” American Sun company cheated p align = “center” deduction of non net profit decreased by 7%
Dare Power Dekor Home Co.Ltd(000910) announced that homelegend LLC, a subsidiary of Shengxiang Group Co., Ltd., a wholly-owned subsidiary of the company, became the victim of a telecommunications fraud during the reporting period. The perpetrator invaded the 365 mailbox system of Microsoft company rented by the company, forged fake e-mail, pretended to be a member of the management of the company, forged supplier documents and e-mail paths, and committed fraud, involving an amount of about US $3.569 million (equivalent to RMB 227549 million).
The company has filed with local federal law enforcement authorities in the United States and reported the case to Chinese public security organs. The above matters led to an increase of 227549 million yuan in the company’s non operating expenses in 2021.
In the annual report, Dare Power Dekor Home Co.Ltd(000910) did not disclose the specific time of the telecom fraud, but from the non operating expenses in the third quarterly report of 2021, it was only several million yuan, that is to say, the fraud probably occurred in the fourth quarter of last year. Previously, the company has not disclosed this, and the 2021 annual report is the first disclosure.
Many netizens expressed incomprehension to Dare Power Dekor Home Co.Ltd(000910) Luokeng Telecom fraud:
If something like this happens, coupled with being upstream of the real estate industry chain, the company’s performance in 2021 will naturally be better.
Last year, the company’s revenue was 8.75 billion yuan, a year-on-year increase of 20.46%; However, the net profit attributable to shareholders of listed companies was 595 million yuan, a year-on-year decrease of 4.86%; The net profit deducted attributable to shareholders of listed companies was 557 million yuan, a year-on-year decrease of 7.04%. Compared with the performance in recent three years, 2021 is the year in which Dare Power Dekor Home Co.Ltd(000910) revenue is the most, but profit is the least. In this regard, Dare Power Dekor Home Co.Ltd(000910) pointed out the adverse factors such as the price rise of bulk raw materials, the red line regulation of real estate deleveraging, the continuous epidemic situation outside China, and the rise of operating costs.
Dare Power Dekor Home Co.Ltd(000910) was founded in 1999, mainly engaged in wood-based panel and flooring. The company’s shares were listed and traded on Shenzhen Stock Exchange on June 30, 1999P align = “center” nonstandard financial management and accounting p align = “center” was just punished four months ago
Although it is said that listed companies with sound financial management system should not make such low-level mistakes in theory, it is not surprising that such a thing happened to Dare Power Dekor Home Co.Ltd(000910) him, because the company does have loopholes in financial management.
On December 7, 2021, the company announced that it had received a warning letter from Jiangsu securities regulatory bureau. After investigation, the company has the following behaviors:
First, the disclosure of remuneration of directors, supervisors and senior managers in 2019 is inaccurate. When the company disclosed the “remuneration of directors, supervisors and senior managers” in the 2019 annual report, it did not include the convertible bond project bonus paid by the company to Chen Xiaolong, Sui min, Chen Gang, Shen Longqiang, Xu Yongsheng, Wang Yong and other directors, supervisors and senior managers in July 2019.
Second, financial management and accounting are not standardized. The company’s expense reimbursement did not strictly comply with the provisions of Article 4 of the company’s financial reimbursement system, and there were problems of untimely reimbursement and cross period accounting, which did not comply with the accounting principle of accrual basis, and violated the provisions of Article 9 of the accounting standards for business enterprises – Basic Standards (Order No. 76 of the Ministry of Finance).
The above-mentioned acts of the company led to inaccurate information disclosure in relevant periodic reports, which violated the provisions of articles 2 and 21 of the measures for the administration of information disclosure of listed companies (Order No. 40 of the CSRC). According to relevant regulations, Jiangsu securities regulatory bureau decided to take administrative supervision measures to issue warning letters to the company and record them in the integrity archives of the securities and futures market.
In fact, the company also has some defects in the governance of listed companies. Since Shen Longqiang, the former Secretary of the board of directors, resigned in April 2021, the company has not set up a full-time secretary of the board of directors.
First, in April 2021, the company announced that Chen Gang, the director, vice president and chief financial officer of the company, was designated to act as the Secretary of the board of directors. However, according to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange, if the vacancy period of the Secretary of the board of directors exceeds three months, the chairman of the board of directors shall act as the Secretary of the board of directors. Therefore, since July 13, 2021, Chen Jianjun, chairman of the company, has to personally act as the Secretary of the board of directors.
Chen Jianjun acted as the Secretary of the board of directors for less than half a year. On December 31, 2021, the company announced that Wu Guhua was appointed as the president and Secretary of the board of directors after deliberation and approval at the 10th meeting of the eighth board of directors, and there is still no full-time secretary of the board of directors. In A-share listed companies, it is also very rare for the president to concurrently serve as the Secretary of the board of directorsP align = “center” Vanke’s companies have also “fallen into the pit”
However, Dare Power Dekor Home Co.Ltd(000910) doesn’t need to be too “sad”. It’s not fighting alone. In recent years, listed companies have exposed “falling pit” Telecom fraud every three or five times.
On June 15, 2020, Jiangxi Selon Industrial Co.Ltd(002748) announced that 2.98 million yuan in the company’s bank account was stolen through the Internet due to telecommunications fraud suffered by the company’s financial executives recently, and the company has reported to Leping Public Security Bureau of Jiangxi Province.
On June 23, 2020, Metro Land Corporation Ltd(600683) announced that the company received a report from Beijing Jingtou Yintai Real Estate Co., Ltd., a subsidiary holding 50% of the shares and being handled by the partner, that its financial personnel were cheated by criminal gangs through telecommunications, resulting in 26.7 million yuan in Yintai real estate’s bank account being cheated through the Internet on June 22, 2020. If calculated according to the net profit realized in 2019, the 26.7 million yuan cheated by the company this time is about six times its net profit.
The company’s so-called partner is a subsidiary of Vanke. Public information at that time showed that the largest shareholder of Yintai real estate was Beijing Vanke Enterprise Co., Ltd., holding 50% of Yintai real estate. Beijing Vanke is a subsidiary of Vanke in Beijing, and Vanke holds 95%.
On November 5, 2020, Suzhou Slac Precision Equipment Co.Ltd(300382) announced that its wholly-owned subsidiary Suzhou Slac Precision Equipment Co.Ltd(300382) international had recently been defrauded by criminal gangs through telecommunications, resulting in more than US $2.05 million in bank accounts being defrauded through the Internet. After the incident, the company reported the case to the public security organ and received the “receipt of case” issued by the public security organ on November 4. At present, the public security organ is actively investigating and handling it. A little comfort is that more than US $1.5 million of the cheated funds have been applied for freezing. At that time, the company said that the remaining cheated funds were also being recovered, and the final impact was uncertain.
