Xinhua News Agency, Beijing, January 21 (Reporter Li Jing) The Vosges shares that just received the attention letter from the Shenzhen Stock Exchange before”Troubles” broke out. Vosges issued an announcement on the evening of January 19 that the company’s self-examination found that the controlling shareholder Huarong Industrial and its controlled company passively occupied the company’s funds. As of the disclosure date of this announcement, the company’s controlling shareholder and its controlled company passively The balance of the company’s funds occupied for operating purposes was 1.0998 billion yuan. The company said that if the controlling shareholder fails to repay on time, the company’s stock may be subject to other risk warnings. On January 20, Vosges shares fell by the limit and closed at 3.95 yuan.
Coincidentally, on the evening of January 18, at the end of last year, Shuzhi Technology announced that a huge impairment of goodwill had been reported that controlling shareholders and actual controllers were non-operating through factoring and business funds. If the company’s funds are occupied, if the controlling shareholder and actual controller of the company fail to resolve the issue of non-operating occupation of the company’s funds before January 25, 2021, the company’s shares will be suspended for one day from the opening of the market on the same day, and trading will resume on January 26. Implement other risk warnings after trading resumes.
The reporter combed through the announcement and found that a number of listed companies have recently revealed that the actual controller or controlling shareholder of the company has occupied the company’s funds for non-operating purposes. On January 14, CATIC announced that due to the fact that the affiliated companies of the actual controller have occupied the company 831 million yuan and failed to disclose it in time, the Heilongjiang Securities Regulatory Bureau intends to take administrative supervision measures to issue an order to correct the company; on January 5, ST Jinhua announced that the company received a series of issues such as accounting errors in the company’s periodic reports due to the occupation of non-operating funds by the controlling shareholder and its related parties; the company received disciplinary sanctions and regulatory concerns from the Shanghai Stock Exchange; on December 31, 2020, the China Securities Regulatory Commission disclosed , Yu Diamond is suspected of major financial fraud, and the actual controller has occupied more than 2.3 billion yuan of listed company funds from 2016 to 2019.
Chuancai Securities Chief Economist and Research Institute Director Chen Li said that for a long time, major shareholders have occupied The situation of company funds is often issued at the end of the year, because the settlement and collection of funds are relatively tight at the end of the year, the pressure on cash flow is relatively large, and some major shareholders of listed companies will embezzle funds in violation of regulations. He believes that this situation should be distinguished. If it is malicious infringement and embezzlement, it must be punished from the perspective of strong supervision.
Dong Dengxin, director of the Securities Research Institute of Wuhan University of Science and Technology, said that major shareholders illegally occupy the funds of listed companies, whether it is repaid or unpaid, is actually an infringement on the rights and interests of small and medium shareholders, which also reflects the listed company. The lack of corporate governance and the company’s internal risk control mechanism.
In fact, the supervisory authorities have always adopted a strong supervisory attitude regarding the illegal use of funds by major shareholders. The”Opinions of the State Council on Further Improving the Quality of Listed Companies” issued in October last year clearly stated that the issue of capital appropriation and illegal guarantees should be dealt with seriously, and controlling shareholders, actual controllers and related parties shall not infringe on the interests of listed companies in any way. Issues of capital occupation and illegal guarantees that have been formed shall be cleared or resolved within a time limit; for problems that have not been rectified within a time limit or new capital occupation or illegal guarantees shall be severely investigated and dealt with, and those that constitute crimes shall be investigated for criminal responsibility according to law. At the same time, it promotes the revision of relevant laws and regulations to increase administrative and criminal legal responsibilities for financial fraud, capital occupation and other illegal activities. Yan Qingmin, vice chairman of the China Securities Regulatory Commission, also publicly stated last year to continue to strengthen the supervision of listed companies. In particular, it is necessary to severely crack down on behaviors such as capital occupation, illegal guarantees and other risks or facts that have constituted violations. It hurts”.
Dong Dengxin emphasized that to improve the quality of listed companies, we must first raise the awareness of the legal system and integrity of listed companies. The illegal occupation of funds by major shareholders is obviously contrary to this. In this regard, it is necessary not only to increase internal self-discipline of risk control, but also to increase external restraint and supervision. The two-pronged approach can produce a deterrent effect. (End)