On the 14th, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) issued the 13th risk warning announcement on the termination of the listing of stocks that may involve major illegal compulsory delisting.
On the same day, the company received the case filing notice sent by Xinjiang securities regulatory bureau. Tacheng Public Security Bureau has filed and investigated the case of Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and Huang Wei, the actual controller of the company, suspected of illegal disclosure and non disclosure of important information.
On January 14, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) fell by the limit, the latest report was 1.07 yuan / share, with a market value of 1.595 billion yuan
the company and the actual controller are suspected of committing a crime
Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) received the prior notice of administrative punishment and market prohibition from China Securities Regulatory Commission on October 18, 2021. The CSRC pointed out that the company falsely increased revenue from 2018 to 2019. After retroactive adjustment, the operating revenue may be less than 10 million yuan for three consecutive years in 2018, 2019 and 2020. According to relevant regulations, the company may be involved in major illegal compulsory delisting.
On January 14, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) announced that the company had received the notification of case filing sent by Xinjiang Securities Regulatory Bureau on January 14. Tacheng Public Security Bureau informed Xinjiang securities regulatory bureau that the transferred Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and Huang Wei’s crime of illegal disclosure and non disclosure of important information met the filing standards, The case has been filed for investigation. Huang Wei is the actual controller of the company.
With regard to Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) and Huang Wei’s case filed by the public security organ, the Shanghai Stock Exchange issued a regulatory letter to the company on January 14, believing that the matter had a significant impact on the company, requiring it to disclose immediately, explain the impact on the company, and fully remind the risk. Shanghai stock exchange requires the company and all directors and supervisors to attach great importance to the above matters, timely report relevant progress and treatment results to them, and fulfill the obligation of information disclosure as required.
Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) said that the company and Huang Wei would actively cooperate with the investigation, carefully evaluate the impact on the company and its actual controllers, and fulfill the obligation of information disclosure in strict accordance with relevant laws, regulations and regulatory requirements.
Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) also said that up to now, the company’s production and operation are normal, and the company has not received a formal punishment decision. The company will actively exercise its legal rights such as hearing or making statements and pleadings, safeguard the rights and interests of the company and the majority of investors, and fully cooperate with the relevant work of the CSRC, And timely perform the obligation of information disclosure in strict accordance with the requirements of relevant laws and regulations.
Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) the share price fell by the limit on January 14 to 1.07 yuan, approaching the life and death line of 1 yuan again. If the closing price is lower than the face value of RMB 1 for 20 consecutive trading days, the face value delisting clause will be triggered. In January 2021, Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) share price was lower than 1 yuan for 10 consecutive trading days, but then began to rise, with the highest rise to 2.65 yuan / share in September 2021
the audit institution was “fined six without one”
The CSRC also plans to impose an administrative penalty of “six penalties for no one” on Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) audit institution Shenzhen Tangtang accounting firm (hereinafter referred to as “Tangtang office”), and the suspected crime of relevant subjects will be transferred to the public security organ.
The person in charge of relevant departments of the CSRC pointed out that Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) has been subject to administrative punishment by the CSRC for several times in recent years. Recently, the CSRC has performed the hearing procedures for the serious financial fraud cases in its annual reports of 2018 and 2019, and will also make punishment decisions according to law.
It is reported that Tangtang office, knowing that the audit business of Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) annual report has been “rejected” by other accounting firms, signed an agreement with Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) , promised not to issue “unable to express opinions” or “negative opinions” in the audit report, and required that Xinjiang Yilu Wanyuan Industrial Investment Holding Co.Ltd(600145) should be compensated if punished by the regulatory authorities.
The CSRC pointed out that the audit independence of Tangtang office is seriously lacking, there are many defects in the audit procedures, there are false records and major omissions in the audit report, and there is a lack of due professional ethics and bottom line. The proposed administrative punishment of “six penalties for no one” will be transferred to the public security organ if the relevant subjects are suspected of committing a crime.
