Zhaoxin shares forced to stop supervision

Zhaoxin shares forced to stop supervision
Twelve directors and supervisors collectively “not fidelity” to the annual report, and were implemented the delisting risk for two consecutive years. Zhaoxin shares were quickly locked by the public opinion of the spotlight, and the impact can only reach the secondary market.Listed company Shenzhen Zhaoxin Energy Co., Ltd. (stock abbreviation: * ST Zhaoxin 002256) was extended for two consecutive years, and the delisting risk warning was implemented from April 27. The stock abbreviation was changed from “Zhaoxin Shares” to “* ST trillion new “, the daily fluctuation of stock trading is limited to 5%.After the opening on April 27, * ST Zhaoxin fell to the limit and ended at 10:30, the listed company fell into a decline of 5.06%, reported 1.50 yuan / share, 110 seals.750,000 hands.On April 23, * ST Zhaoxin disclosed that its 2019 annual report showed that the company achieved total operating income 4 last year.312.8 billion, a year-on-year decrease of 28.55%, the net profit attributable to shareholders of the listed company is expected to be -2.7.5 billion, down by 37 every year.12%, possibly 2 in 2018.After 1 billion, it has suffered losses for two consecutive years.Obviously, the audit agency Zhongqin Wanxin Certified Public Accountants (Special General Partnership) declared an “unable to express opinion” audit opinion on the annual report. Twelve directors, supervisors and supervisors said that they do not guarantee the authenticity of the annual report.(Related reports: “The annual report was” backwatered “: many directors and supervisors of Zhaoxin shares resigned and waited for Baoneng Zhonghuan to wait.)) The regulatory side quickly intervened in this storm.On April 24, the Shenzhen Stock Exchange issued a letter of concern requesting * ST Zhaoxin to explain whether the 12 directors and supervisors are “not fidelity” to the content of the annual report, rather than the legal compliance of individual and joint legal responsibilities, whether there is a violationThe essence of the Securities Law.The question of whether these directors and supervisors have fulfilled their duties in the early stage also aroused the concern of the Shenzhen Stock Exchange.The Shenzhen Stock Exchange requires * ST Zhaoxin to explain whether these directors and supervisors who cast a “no-confidence vote” on the annual report have taken diligent due diligence in the early stage of whether the necessary measures have been taken in response to the audit report.On April 26, the Shenzhen Stock Exchange further pointed out that the new “Securities Law” implemented on March 1 this year supplemented the dissent system of directors, supervisors and senior management personnel on the information disclosure of listed companies.The objection procedure promotes the directors and supervisors to fully exercise their right to disclose information and to faithfully and diligently fulfill their contractual obligations.Dong Jiangao ‘s dissent does not mean that he has performed his duties diligently, which does not mean that he can be exempted from liability. The firm will deal with unfaithfully and diligently to perform its obligations in accordance with laws and regulations.In fact, the Shenzhen Bureau of the China Securities Regulatory Commission on April 26 also adopted administrative supervision measures against * ST Zhaoxin to order corrections, requiring listed companies to take effective measures on matters that caused the audit report to fail to express an opinion and the internal control assurance report to deny the opinionRectified and corrected practical measures, re-prepared the 2019 annual report, and the re-audited 2019 annual financial report by the auditing agency.The Shenzhen Bureau of the China Securities Regulatory Commission pointed out that the announcement of the resolution of the 25th meeting of the fifth board of directors and the resolution of the 15th meeting of the fifth board of supervisors disclosed by ST Zhaoxin show that the board of directors and the board of supervisors agreed to announce the company’s 2019 annual report, but the directorsThe supervisors do not guarantee that the content of the annual report is true, accurate and complete, and there are obvious situations in the above cited opinions.The board of directors and the board of supervisors of a listed company actually only form a resolution on whether to repeat the company’s 2019 annual report, and passing the company’s 2019 annual report violates the provisions of Article 78 and Article 79 of the Securities Law.The Shenzhen Bureau of the China Securities Regulatory Commission requested * ST Zhaoxin’s board of directors and the board of supervisors to revise the 2019 annual report and disclose the 2019 annual report approved by the board of directors and the board of supervisors according to law by April 30, 2020.(Related report: “Executives cannot guarantee that the financial report is true, accurate, and complete Zhaoxin shares have been ordered to correct”) Sauna, Ye Wang Xiao Wei Li Yunqi editor Li Weijia proofreading Wang Xin reporter contact email: xiaowei @ xjbnews.com

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