After the company was filed for investigation by the CSRC, Wang Chunjiang, the actual controller of Zhejiang Busen Garments Co.Ltd(002569) , was also filed for investigation by the Public Security Bureau. A pile of negative news followed, and the star aura of this men’s clothing brand has faded.
suspected of embezzlement
Zhejiang Busen Garments Co.Ltd(002569) the actual controller is filed for investigation
On January 18, Zhejiang Busen Garments Co.Ltd(002569) announced that Wang Chunjiang, the actual controller of the company, was placed on file for investigation by Haikou Public Security Bureau on suspicion of embezzlement by Hainan Yilian Pratt Whitney Internet microfinance Co., Ltd.
Zhejiang Busen Garments Co.Ltd(002569) said that at present, the company’s business activities are normal, and the investigation has not had a significant impact on the production and operation and corporate governance of the listed company.
The company will continue to pay attention to the progress of the above matters, maintain close communication and contact with the actual controller, and perform the corresponding information disclosure obligations as required. Please pay attention to the investment risks.
It is worth noting that in August last year, a reply announcement on the regulatory inquiry letter of Zhejiang Securities Regulatory Bureau showed that Wang Chunjiang accompanied his wife to enter the United States in February 2021 for personal and family reasons, stayed in the United States and now lives in San Francisco. Originally planned to return to the country in May 2021, but due to the detention of the United States during the infection of New Coronavirus (covid-19), resulting in covid-19 Igm test positive, unable to get back to the green code, has not been able to return home. Wang Chunjiang strives to get the green code for returning home as soon as possible after the treatment situation improves, and return home to deal with relevant work.
Zhejiang Busen Garments Co.Ltd(002569) shareholders: ah Dou
For the fact that the actual controller was put on file for investigation, some shareholders lamented: “it’s really a Doo who can’t stand it.” “I’ve taken it for a long time.”
By the end of 2021, Zhejiang Busen Garments Co.Ltd(002569) had 4573 shareholders.
Zhejiang Busen Garments Co.Ltd(002569) was just filed for investigation by the CSRC
suspected of illegal information disclosure
Previously, Zhejiang Busen Garments Co.Ltd(002569) had just been filed for investigation by the CSRC. On December 3, the company received the notice of filing a case from China Securities Regulatory Commission. Because the company is suspected of violating laws and regulations in information disclosure, in accordance with the securities law of the people’s Republic of China, the administrative punishment law of the people’s Republic of China and other laws and regulations, the China Securities Regulatory Commission decided to file a case for investigation.
On December 8, Zhejiang Busen Garments Co.Ltd(002569) received the decision on administrative supervision measures issued by Zhejiang securities regulatory bureau. It is pointed out that there are major omissions in the information disclosed by Zhejiang Busen Garments Co.Ltd(002569) ; Failure to disclose the significant progress of major events and perform the obligation of information disclosure in a timely manner.
The above acts violated relevant regulations. Zhejiang securities regulatory bureau decided to take supervision and management measures to issue warning letters to Zhejiang Busen Garments Co.Ltd(002569) , Zhao Chunxia, then chairman and Acting Secretary of the board of directors, Feng Xue, then general manager, Wang Chunjiang, then chairman, Wang Yazhu, then chairman, Xiao Xia, general manager and Zhang you, Secretary of the board of directors, and record them in the integrity archives of the securities and futures market.
The negative news of Zhejiang Busen Garments Co.Ltd(002569) is really one after another. On January 10, Zhejiang Busen Garments Co.Ltd(002569) announced that the controlling shareholder’s equity held by the actual controller was frozen. Through inquiry and receiving the notice from the actual controller, the company learned that the equity of the company’s controlling shareholder Beijing Dongfang Hengzheng science and Trade Co., Ltd. (hereinafter referred to as “Dongfang Hengzheng”) held by Wang Chunjiang, the actual controller of the company, was subject to judicial freezing. All the shares of Dongfang Hengzheng held by the actual controller Wang Chunjiang were frozen.
Zhejiang Busen Garments Co.Ltd(002569) said that the company’s business activities were normal, and the freezing had no significant impact on the production and operation and corporate governance of listed companies.
Zhejiang Busen Garments Co.Ltd(002569) was claimed by investors for more than 7 million
In October last year, Zhejiang Busen Garments Co.Ltd(002569) announced that the company was sued by ordinary investors in the secondary market after receiving the civil complaint and notice of response served by the Hangzhou intermediate people’s Court of Zhejiang Province.
On January 15, 2020, Zhejiang Busen Garments Co.Ltd(002569) the defendant was filed for investigation by China Securities Regulatory Commission on suspicion of information disclosure violating securities laws and regulations. On August 6, 2020, Zhejiang Busen Garments Co.Ltd(002569) received the advance notice of administrative punishment (ZJJG Zi [2020] No. 7). On August 10, 2020, Zhejiang Busen Garments Co.Ltd(002569) issued the announcement on receiving the decision on administrative punishment, saying that it had received the decision on administrative punishment issued by Zhejiang securities regulatory bureau of China Securities Regulatory Commission. The CSRC found that Zhejiang Busen Garments Co.Ltd(002569) there was an act of failing to disclose major guarantee matters in time as required.
Affected by Zhejiang Busen Garments Co.Ltd(002569) misrepresentation, investors mistakenly believed that the defendant’s shares had high investment value, so they bought the defendant’s shares after the implementation date, and then suffered huge losses due to the disclosure of the defendant’s misrepresentation. There is a causal relationship between the loss and the defendant’s misrepresentation. In this regard, Zhejiang Busen Garments Co.Ltd(002569) should bear the corresponding liability for compensation.
According to relevant laws and regulations, ordinary investors bought 203100 shares and sold 11200 shares from September 7, 2017 to August 27, 2019. As of August 27, 2019, they still held 191900 shares. The plaintiff’s loss totaled RMB 7.0991 million, which belongs to the scope of compensation. The defendant shall be liable for the plaintiff’s loss.
As of the announcement date, the lawsuit has not been heard and has not been judged or ruled.
Zhejiang Busen Garments Co.Ltd(002569) the share price fell more than 86%
It is reported that Zhejiang Busen Garments Co.Ltd(002569) is mainly engaged in the design, production and sales of “BUSEN” brand men’s clothing products. It is an enterprise with large sales scale in the men’s clothing industry and was listed in April 2011. Unexpectedly, Zhejiang Busen Garments Co.Ltd(002569) “the debut is the peak”, and its performance deteriorated and became very unstable in the following time.
According to the third quarterly report, Zhejiang Busen Garments Co.Ltd(002569) from January to September 2021, the revenue was 208 million yuan, the net profit was 43.2655 million yuan, a year-on-year increase, and the net asset per share at the end of the period was 1.76 yuan.
BUSEN was very popular at that time. He once asked Huang Xiaoming to speak for him. But now, the star aura of this well-known menswear brand has faded.
In addition, in terms of share price performance, Zhejiang Busen Garments Co.Ltd(002569) is dominated by low volatility. As of press time, Zhejiang Busen Garments Co.Ltd(002569) share price was reported at 7.96 yuan, with a total market value of 1.146 billion yuan. At present, the share price of Zhejiang Busen Garments Co.Ltd(002569) has fallen by more than 86% from the historical high, and many shareholders have been trapped before.
