On January 21, the CSRC disclosed the decision to issue a warning letter to Litong Technology Co., Ltd. In the process of applying for IPO and listing, Litong technology did not jointly disclose the main customer related parties, and the disclosure of the amount of products involved in the litigation patent was inconsistent and different.
At the same time, Guotai Junan Securities Co.Ltd(601211) and project sponsors Wang anding and Xing Yongzhe were issued a warning letter by the CSRC due to their failure to perform their duties diligently in the recommendation process of Litong technology.
Guotai Junan Securities Co.Ltd(601211) the performance express was also released on the evening of January 21. In 2021, the company realized a net profit attributable to the owners of listed companies of RMB 15.013 billion, a year-on-year increase of 34.98%.
letter Phi withdrew the registration application in violation of regulations
On July 6, 2020, Shenzhen stock exchange accepted the listing application of Litong technology, and the sponsor was Guotai Junan Securities Co.Ltd(601211) .
On March 18, 2021, Litong technology applied for initial listing on the gem and formally submitted its registration application to the CSRC on May 23.
The announcement of the results of the 16th review meeting of the municipal Party Committee on the gem in 2021 shows that the municipal Party committee has given suggestions to Litong technology that meet the issuance conditions, listing conditions and information disclosure requirements, but also requires the company to explain that under the condition of long-term business cooperation with Baofeng electronics, The necessity and commercial rationality of still selling through dealers and whether the cooperation with Baofeng electronics is stable and sustainable.
In terms of patents, the Shanghai municipal Party committee found that there were six patents involving the request for invalidation examination of Litong technology and its subsidiaries, of which one invention patent right owned by Quanzhou Litong has been invalidated by the State Intellectual Property Office. The municipal Party committee asked Litong technology to explain the status and role of the above Quanzhou Litong invention patent in the company’s main products, whether it belongs to the core patent, and whether the invalidation has a significant adverse impact on the company’s production of relevant products and customer order acquisition.
On December 1, 2021, Litong technology and the recommendation institution submitted an application to the CSRC and took the initiative to withdraw the registration application documents. On January 4, 2022, the CSRC agreed to its request and terminated the registration.
On January 21, 2022, the CSRC’s decision on the regulatory measures for issuing warning letters to Litong Technology Co., Ltd. is also similar to the above questions. The CSRC said that after investigation, it was found that in the process of applying for IPO and listing, Litong technology did not jointly disclose the main customer related parties, and the disclosure of the amount of products involved in the litigation patent was inconsistent and different. The above acts of Litong technology violate the provisions of Article 6 of the measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation). According to the regulations, the CSRC decided to take the supervision and management measures of issuing warning letters to Litong technology.
Source: China Securities Regulatory Commission
issued a warning letter without diligence
As a sponsor of Litong technology, Guotai Junan Securities Co.Ltd(601211) and two sponsor representatives Wang anding and Xing Yongzhe also received a warning letter from the CSRC.
The CSRC found that Guotai Junan Securities Co.Ltd(601211) did not diligently and responsibly perform sufficient verification procedures and jointly disclose relevant information on the relationship between the issuer’s main customer global Camry and the customer faliying during the initial public offering and listing of sponsor Litong technology, and the disclosure of the amount of products involved in the patent involved was inconsistent and different, There is a situation that the relevant flow inspection of the issuer relies on the information provided by the issuer. The CSRC believes that the above acts violate the provisions of Article 5 of the measures for the administration of securities issuance and listing recommendation business. According to the regulations, the CSRC decided to take the supervision and management measures of issuing warning letters.
On January 21, Guotai Junan Securities Co.Ltd(601211) also released the performance express of 2021. It is expected to achieve an operating revenue of 42.669 billion yuan in that year, a year-on-year increase of 21.22%; The net profit attributable to the owners of listed companies was 15.013 billion yuan, a year-on-year increase of 34.98%.
Source: Guotai Junan Securities Co.Ltd(601211) announcement
With regard to the operating performance and financial situation, Guotai Junan Securities Co.Ltd(601211) said that in 2021, the company adhered to the general tone of “strengthening the foundation, consolidating the foundation and seeking progress while maintaining stability”, and in accordance with the general requirements of “comprehensive service, digital operation, international layout and group control”, insisted on seeking impetus from reform, vitality from talents, efficiency from management and development from innovation, so as to further promote comprehensive reform, Continue to optimize the strategic layout, take the initiative to seize market opportunities, promote the steady growth of various main businesses and achieve better business performance.
