It was publicly condemned because Exchange listed company that violates these "cross-compliance"

Updated: May 21, 2016  Views: 194

Each listed company is like a car, driving on the A shares this road, the exchange as a traffic police, always maintains order, 'Road', when a 'car' violate 'traffic rules' will be subject to appropriate punishment.

Recently, the Shenzhen Stock Exchange listed company to increase supervision violations, since May, has five listed companies publicly condemned by the Shenzhen Stock Exchange of Condemns What are the reasons? What will be the kind of impact? Every listed company like a car, driving on the a shares this road, the exchange as a traffic police, always maintains order 'way', today, to be by a small series of these companies are publicly condemned the 'check 'it.

'Examined the problem.'

In May the company was publicly condemned, the report issued by the audit agency 'non-standard' opinions and in serious cases there are two companies, including Jinya technology and Xin Tai Electric Financial aspects Jinya technology a long time, the company 2015 annual report disclosure quarter last day of the 'long overdue', and new recruits third-party accounting firm issued an audit report can not express an opinion. the main problem is that its 2014 annual financial data associated with previously disclosed data exist comparing big difference, and it can not be confirmed.

Xintai Electric is also true, the Shenzhen Stock Exchange said Xintai electrical 2015 annual financial report is Maple Tianjian Certified Public Accountants (special general partnership) was unable to express an opinion issued audit report and the circumstances are serious, violation of the relevant provisions of the Shenzhen Stock Exchange.

Fails to 'traffic crossed' with

If listed companies should be disclosed without the disclosure of significant events, but also to be publicly condemned by the Stock Exchange. Baling Technology on the failure to 'traffic crossed' with which the company intends to company secretaries and treasurer at the end of September 2015 Director Huang Shengtian Baling investment fund jointly set up, and then set up the size of 600 million source of capital and other buyout funds with Castrol, and relevant announcement. Notice that the Castrol capital and paying attention to the announcement after verification that the matter is not clear. after Harvest capital challenge, Baling Technology non-disclosure of significant progress in this matter, and continues on October 16 shareholder meeting for consideration of the relevant issues, in violation of the relevant provisions of the Shenzhen Stock Exchange.

In addition, since the Baling Technology inquiry letter Reply content untrue, incomplete been publicly condemned the Shenzhen Stock Exchange. Earlier, the stock because the company November 26, 2015, on the 27th closing price deviation from the cumulative value of 20%, Baling Technology Disclosure << >> notice unusual fluctuations in stock trading, and subsequently disclosed the company intends to Baling on capital investment funds, investment funds funded Baling Baling Gaia Gaia mutual entertainment and subscription of private placement stock issues. inquiry by the Shenzhen stock Exchange, Baling Technology on 27 November 2015, has been planned and prepared this matter. << notice unusual fluctuations in stock trading Baling Technology disclosed November 30 >> untrue << disclosure on December 18 Shenzhen Securities Exchange inquiry letter reply notice >> untrue, incomplete.

'Illegal parking'

And seven shares (which has been renamed 'The new good') because there are a number of irregularities undisclosed matters were denounced. Condemned the Shenzhen Stock Exchange announcement shows, and seven shares Failing disclosure of internal control 2014 annual audit report, significant borrowings related matters significant litigation matters, matters of foreign financial assistance, and the early disclosure of false information, misleading statements.

'Red light'

Traffic police will not let you do, do not do it, especially red light, serious consequences, the addition of points, the Dragon Optical Chuang 'red' because the controlling shareholders of listed companies occupy non-operating funding was disclosed in the Shenzhen Stock Exchange condemned the announcement shows that the controlling shareholder of Dragon Optical Technology Co., Ltd in Changzhou Noah March 4, 2015 35 million yuan loan to the Dragon Optical, and on March 12, 2015 loan was repaid. Changzhou Science and Technology Co., Ltd. to Noah Dragon Optical borrowing behavior is the controlling shareholder of non-operating capital occupation listed company, in violation of the relevant provisions of the Shenzhen Stock Exchange. Jinya technology due to the actual control people Zhou Xuhui non-operating capital occupation was publicly condemned.

Necessity publicly condemned

From a law enforcement point of view of China's securities market mechanism, denounced as an enforcement mechanism in the field of information disclosure, standardized operation, etc., play an important role.

In addition to public condemnation, a company listed on the Stock Exchange for the disciplinary and regulatory measures, as well as criticism and regulatory attention. Among them, the criticism is informed of irregularities of listed companies within the scope of all the listed companies, regulatory concern is based on the letters of concern in the form of irregularities of listed companies to be served. in contrast, denounced the Exchange's listed companies in the most severe disciplinary action.

It denounced the effects of finance

In general, the listed company directors or irregularities are exchanges made public and subject to public condemnation, its credit will be in the minds of investors relative decline and affect the financing of listed companies in the latter part of the funds, and even lead to the listed company's share price fell specifically, the main aspects of the impact from the operation of listed companies.

The first is the impact of reputation, which directly affect the cost of financing, whether through business plan ways and means of financing, corporate credit-funded financial factors are undoubtedly the most concerned party. Theoretically, publicly condemns corporate reputation assets loss, will increase the difficulty of financing, increased financing costs.

Followed deterrent impact. Denounced the sanctions regime is an essence that is provided by the consequences of violations, and those responsible for the creation of a listed company in advance to give up irregularities incentives from the recent coverage of the illegal acts of view, mainly in publicly condemned illegal information disclosure and corporate governance are two areas of non-compliance, covering the vast majority of listed companies of illegal behavior.

From the practical point of view, the company was listed on the Stock Exchange publicly condemned, it will be included in their credit file, which will directly affect the financing of listed companies.

In practice, the financing market for audit and pricing mechanisms distrust, regulators took in practice controlled manner refinancing of listed companies and by public censure bound to them, << securities issuance of listed companies management approach >> direct provision 39 listed companies set by the restrictions. << >> clear that the management approach, the incumbent directors of listed companies and senior executives been given administrative penalty within thirty six months of the China Securities Regulatory Commission recently, or has recently been in the twelve months through the stock exchange publicly condemned, will not be allowed to develop non-public stocks. according to these provisions, public censure would constitute 'a veto' effect within one year after making its refinancing.

The following year was accompanied by the Shanghai Stock Exchange, the Shenzhen Stock Exchange listed companies and publicly condemned reasons:


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Traditional Chinese: 被交易所公開譴責 只因上市公司違反了這些“交規”