The disclosure of the annual report entered the peak period, and two companies touched the financial delisting indicators.
On the evening of April 26, Easy Visible Supply Chain Management Co.Ltd(600093) , Tempus Global Business Service Group Holding Ltd(300178) disclosed the annual report of 2021. According to the annual report, 6 Hunan Valin Steel Co.Ltd(000932) 021’s audited net assets at the end of the period were negative, and the financial accounting report was issued with an audit report that could not express an opinion, which has touched the conditions for termination of listing. At present, the company has received the prior notice of the Shanghai Stock Exchange on the proposed termination of the listing of the company’s shares.
Tempus Global Business Service Group Holding Ltd(300178) 2021: the audited ending net assets were negative, and the financial accounting report was issued with an audit report that could not express an opinion, which also touched the terms of termination of listing. The trading of A-Shares of the two companies will be suspended from Wednesday, April 27.
It is worth noting that Easy Visible Supply Chain Management Co.Ltd(600093) not only involves financial delisting, but also involves major illegal compulsory delisting. The company recently received the advance notice of administrative punishment issued by the CSRC. From 2015 to 2020, the company’s accumulated false income exceeded 50 billion yuan; In addition, the company has not disclosed the 2020 annual report on schedule.
Analysts pointed out that the new delisting regulations have streamlined the financial delisting process. In the first year, the financial indicators will be subject to delisting risk warning, and in the second year, various financial indicators will be cross applied. If any indicator fails to meet the standard, it will be delisted directly. As the disclosure deadline of the 2021 annual report approaches, or more companies will touch the index of termination of listing and will be eliminated, investors must not take chestnut from the fire and have a fluke mentality.
Easy Visible Supply Chain Management Co.Ltd(600093) or delisted
On the evening of April 26, Easy Visible Supply Chain Management Co.Ltd(600093) disclosed the annual report of 2021, which showed that the company’s revenue in 2021 was 885 million yuan, the net profit loss attributable to shareholders of listed companies was 714 million yuan, and the net assets attributable to shareholders of listed companies were -4.972 billion yuan.
The audited ending net assets of the company in 2020 are negative, the financial and accounting report has been issued with an audit report that cannot express opinions, and the company’s shares have been warned of delisting risk.
After the disclosure of the financial report in 2021, Easy Visible Supply Chain Management Co.Ltd(600093) received the prior notice from Shanghai Stock Exchange on the proposed termination of Easy Visible Supply Chain Management Co.Ltd(600093) stock listing.
According to the notice, the net assets of the Company attributable to the listed company at the end of 2021 are negative, and the 2021 financial and accounting report has been issued with an audit report that cannot express an opinion. According to article 9.3.11 of the stock listing rules of Shanghai Stock Exchange, the company’s shares have touched the conditions for termination of listing.
According to article 9.3.14 of the stock listing rules, the Shanghai Stock Exchange will decide to terminate the listing of Easy Visible Supply Chain Management Co.Ltd(600093) company.
At the same time, the company also received the supervision letter of Shanghai Stock Exchange on matters related to Easy Visible Supply Chain Management Co.Ltd(600093) termination of listing Easy Visible Supply Chain Management Co.Ltd(600093) will be suspended from the opening of the market on April 27. The Shanghai Stock Exchange will convene the Listing Committee for deliberation within 15 trading days after the company discloses the annual report, and make the corresponding decision to terminate the listing according to the review opinions of the listing committee.
According to relevant regulations, the Shanghai stock exchange requires the company to hire the host broker as soon as possible to make specific arrangements and information disclosure for the company’s shares to enter the National SME share transfer system, so as to ensure that the company’s shares can be listed for transfer within 45 trading days from the date of delisting, so as to protect the investors’ right to share transfer.
As of April 26, the closing price of Easy Visible Supply Chain Management Co.Ltd(600093) shares was 0.78 yuan / share, down 97% from the historical high of the company’s share price.
If Easy Visible Supply Chain Management Co.Ltd(600093) is delisted, the company’s shares will enter the delisting consolidation period and be marked with “delisting” in front of the stock abbreviation from the next trading day after the expiration of 5 trading days after the Shanghai stock exchange makes the decision to terminate the listing of the company’s shares. The trading period of the delisting consolidation period is 15 trading days. During the delisting consolidation period, the company’s shares are still trading on the risk warning board. The Shanghai Stock Exchange will delist the company’s shares within 5 trading days after the expiration of the delisting consolidation period, and the listing of the company’s shares will be terminated. According to the regulations, there is no price limit on the first trading day of the delisting consolidation period, and the daily price limit thereafter is 10%.
Easy Visible Supply Chain Management Co.Ltd(600093) was once known as A-share “the first share of blockchain”. Yijian shares, formerly known as “Hejia shares”, formerly known as Sichuan listed company Hejia shares, was listed in 1997. In 2016, Hejia Co., Ltd. carried out blockchain business and announced to cooperate with IBM to jointly develop “easy to see blocksystem 1.0” system. In this process, IBM provided an enterprise blockchain platform based on super ledger fabric. Since 2017, Hejia Co., Ltd. has mainly engaged in supply chain management and commercial factoring. In order to reflect the industry and development needs of the company, Hejia Co., Ltd. was renamed easy to see in April of the same year. Subsequently, Yijian shares became famous in the market and became the “first share of A-share blockchain”.
On April 28, 2021, the self explosion of easy to see shares failed to disclose the 2020 annual report and the first quarterly report of 2021 within the statutory time limit, resulting in the stock price falling by the limit for three consecutive trading days. Subsequently, the company’s shares began to be suspended. Before the resumption of trading, the company’s 2020 annual report and the first quarterly report of 2021 finally came late, but there were a series of negative news, including the occupation of huge funds by shareholders, huge performance losses, etc. Subsequently, the company’s shares resumed trading for 16 consecutive trading days, plus the three trading days before the suspension, investors ate a total of 19 consecutive trading limits!
6 year revenue fraud exceeding 50 billion yuan
In addition to financial delisting, the company also suggested that since the closing price of the company’s shares as of April 26 was 0.78 yuan / share, which was lower than 1 yuan, the company’s shares may touch the mandatory delisting of trading.
In addition, the company also touched on major illegal compulsory delisting.
On the evening of April 19, Easy Visible Supply Chain Management Co.Ltd(600093) announced that the company had received the advance notice of administrative punishment issued by the CSRC. The suspected illegal facts of the company are: there are false records and major omissions in the periodic reports from 2015 to 2020; Failed to disclose the 2020 annual report on schedule.
According to the notice, from 2015 to 2020, the company falsely increased the total revenue of various false businesses by 4.441 billion yuan, 11.92 billion yuan, 12.004 billion yuan, 10.47 billion yuan, 10.987 billion yuan and 6.429 billion yuan respectively, accounting for 84.26%, 73.68%, 75.20%, 72.18%, 71.59% and 66.16% of the total operating revenue disclosed in each year. The total falsely increased revenue in six years was 56.251 billion yuan.
The false profits of RMB 1.209 billion and RMB 1.209 billion respectively accounted for the false profits of RMB 1.206 billion and RMB 4.907 billion in 2020, accounting for the false profits of RMB 1.209 billion and RMB 4.907 billion respectively (see the proportion of RMB 1.209 billion and RMB 4.907 billion respectively in 2020); After deducting inflated profits, losses were incurred for three consecutive years from 2018 to 2020.
The company said that at present, the company is verifying the facts and financial data of the company’s suspected violations in the notice. It is expected that the net profit attributable to the parent company from 2016 to 2020 will be negative, which may touch the delisting of major violations. The company will make retroactive adjustment to the financial statements from 2015 to 2020 as soon as possible.
Easy Visible Supply Chain Management Co.Ltd(600093) there are still illegal facts that the 2020 annual report has not been disclosed in time. On April 30, 2021, easy to see announced that the company could not disclose the audited 2020 annual report within the legal period, and the trading of the company’s shares would be suspended from May 6, 2021. On July 6, 2021, easy to see shares disclosed the 2020 annual report.
In addition, Easy Visible Supply Chain Management Co.Ltd(600093) did not truthfully disclose the actual controller in the annual report from 2015 to 2018. From 2015 to September 2018 and from October 2018 to December 2018, the controlling shareholder of Yijian shares was Jiutian group, and the actual controller was lengtianqing. Yijian shares did not truthfully disclose the actual controller.
The notice points out that Leng Tianqing, the then chairman, director and general manager of Easy Visible Supply Chain Management Co.Ltd(600093) made decisions, organized and implemented financial fraud, instructed and directed Easy Visible Supply Chain Management Co.Ltd(600093) to carry out false business and falsely increased Easy Visible Supply Chain Management Co.Ltd(600093) performance. The means were particularly bad and the circumstances were particularly serious. He was the person in charge directly responsible for the illegal act of Easy Visible Supply Chain Management Co.Ltd(600093) information disclosure.
In view of the above violations, the CSRC plans to decide that Easy Visible Supply Chain Management Co.Ltd(600093) will be fined a total of 10.5 million yuan; Give a warning for cold weather and fine weather, and a total fine of 5.3 million yuan; Impose a fine of 200000 yuan on Leng Tianhui; Impose a fine of Shanghai Pudong Development Bank Co.Ltd(600000) yuan on Jiutian group; The then chairman Ren Zixiang, the then directors Su Lijun, Luo Yin and Xu Gali, the then independent directors Li Yang and Liang Zhihong, the then senior managers Shaoling and Marseille Rong, and the then supervisors Wang Gang, Ji Changqing and Xie Jianhui were also fined in varying amounts.
In addition, the CSRC plans to take lifelong measures to prohibit lengtianqing from entering the securities market. From the date of the CSRC’s announcement of the decision, lengtianqing shall not continue to engage in securities business in the original institution or hold the positions of directors, supervisors and senior managers of the original listed company and non listed public company, nor engage in securities business in any other institution or hold the positions of directors, supervisors and senior managers of other listed companies Positions of directors, supervisors and senior managers of non listed public companies.
In the regulatory work letter on matters related to Easy Visible Supply Chain Management Co.Ltd(600093) termination of listing issued by Shanghai Stock Exchange, it is also mentioned that there are false records and major omissions in the periodic reports from 2015 to 2020; Failed to disclose the 2020 annual report on schedule. The company preliminarily judged that the illegal acts involved in the company in the notice received this time may touch the major illegal compulsory delisting situations stipulated in the rules such as the Listing Rules of Shanghai Stock Exchange. The final facts shall be subject to the conclusion of the decision on administrative punishment issued by the CSRC.
Tempus Global Business Service Group Holding Ltd(300178) involving financial delisting
On the evening of April 26, Tempus Global Business Service Group Holding Ltd(300178) released its annual performance report, saying that the operating revenue in 2021 was about 1.717 billion yuan, an increase of 214.97% year-on-year; The net profit loss attributable to the shareholders of the listed company was about 1.473 billion yuan.
The audited financial report of Shengpeng shows that the company’s net assets in 2021 can not be delisted at the end of the year, and the audited financial report shows that the company’s net assets in 2021 can not be delisted at the end of the year. According to relevant regulations, the trading of the company’s shares will be suspended from April 27, 2022.
However, at present, the company has not received the prior notice issued by the exchange to the company to terminate the listing of the company’s shares. The company said that if the Shenzhen stock exchange decides to terminate the listing of the company’s shares, according to article 10.7.1 of the Listing Rules of the Shenzhen Stock Exchange, the trading will be resumed on the next trading day after five trading days from the date when the Shenzhen Stock Exchange announces the decision to terminate the listing of the company’s shares and enter the delisting consolidation period. During the delisting consolidation period, the company’s securities code remains unchanged, and the stock abbreviation is preceded by the delisting logo. The delisting consolidation stock enters the risk warning board trading. The trading period of delisting consolidation period is 15 trading days. During the delisting consolidation period, the trading of the company’s shares will not be suspended in principle. The company’s shares shall be delisted on the trading day following the expiration of the delisting consolidation period, and the listing of the company’s shares shall be terminated.
Tempus Global Business Service Group Holding Ltd(300178) started from ticket distribution business, entered the tourism market through route operation, and gradually expanded its business segment to international freight, Internet Finance and other fields.
In August 2019, Tempus Global Business Service Group Holding Ltd(300178) debt crisis broke out. As the 2020 financial report issued an annual review report that could not express opinions, Tempus Global Business Service Group Holding Ltd(300178) officially wore a star and hat in May 2021. In December of the same year, the CSRC decided to file a case against the company because the company was suspected of illegal information disclosure.
On April 5 this year, Tempus Global Business Service Group Holding Ltd(300178) issued an announcement that the company and relevant parties received the advance notice of administrative punishment from Shenzhen regulatory bureau of China Securities Regulatory Commission. After investigation, tengbang international is suspected of the following illegal facts: first, it fails to disclose the related guarantee in time and in the periodic report; 2、 Failure to disclose major litigation and arbitration in periodic reports; 3、 Failure to disclose the occupation of non operating funds by the controlling shareholder in time and in the periodic report.
The company said that according to the situation identified in the prior notice of administrative punishment, the company judged that the information disclosure violations involved in the prior notice of administrative punishment received this time did not touch the situation of major illegal compulsory delisting.
delisting normalization mechanism gradually formed
Recently, after the disclosure of the financial report, several companies such as Great Wall International Acg Co.Ltd(000835) , Chunghsin Technology Group Co.Ltd(603996) , Northeast Electric Development Company Limited(000585) , Xinjiang La Chapelle Fashion Co.Ltd(603157) , Shanghai Greencourt Investment Group Co.Ltd(600695) , etc. have touched the situation of financial delisting. At present, some companies have entered the delisting consolidation period.
In addition, Baotou Tomorrow Technology Co.Ltd(600091) , Shanghai U9 Game Co.Ltd(600652) , Cred Holding Co.Ltd(600890) , Huaxun Fangzhou Co.Ltd(000687) , Boomsense Technology Co.Ltd(300312) , Zhengzhou Sino-Crystal Diamond Co.Ltd(300064) and other listed companies’ performance forecasts for 2021 show that there is a possibility of being delisted due to financial delisting indicators.
At present, only the last three days are left before the legal deadline for the disclosure of the annual report. If the company fails to disclose the annual report of the latest year within the legal deadline after being warned of delisting risk due to touching financial indicators, it will also touch the situation of termination of listing.
“A-share normal delisting mechanism is gradually taking shape.” Haitong Securities Company Limited(600837) chief analyst Xun Yugen said that the delisting system is an important supporting system for the implementation of the registration system, which helps to ensure that the market ecology under the registration system can realize the self purification of the survival of the fittest, realize the dynamic balance of the number of A-share listed companies, alleviate the capital pressure brought by the issuance of listed companies to the market, and also help to optimize the resource allocation function of the capital market.
\u3000\u3000 “In the past, the A-share delisting system was not perfect, the setting of delisting indicators was unreasonable, and the delisting process was long and inefficient. As a result, the companies that should have been delisted could not be cleared effectively. These companies were gradually marginalized, resulting in a large number of small market value companies, which occupied valuable market resources. In recent years, the A-share delisting has gradually normalized and implemented zero tolerance for financial fraud and other acts. Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and other delisting demonstrated the zero tolerance attitude of Chinese regulators towards financial fraud , which also reflects the gradual formation of A-share normal delisting mechanism. ” Xun Yugen pointed out.
