Because of the "cover-up" of a cooperation progress five years ago, Co-Venture shares (300343) (SZ300343, share price 5.Metagamescrypto.61 yuan, with a market capitalization of 6.144 billion yuan) and a number of then-senior executives finally "got into trouble".
On May 20, Lianchuang received a "decision on issuing a warning letter to Shandong Lianchuang Industrial Development Group Co., Ltd." (hereinafter referred to as "warning letter") issued by Shandong Securities Regulatory Bureau of China Securities Regulatory Commission (hereinafter referred to as Shandong Securities Regulatory Bureau).
On the same day, the Shenzhen Stock Exchange issued the decision to notify and criticize Shandong Lianchuang Industrial Development Group Co., Ltd. (hereinafter referred to as "the decision").
According to the warning letter, according to the announcement on the reply to the concern letter of Shenzhen Stock Exchange disclosed by Lianchuang on January 31, 2024, the company signed a "Memorandum of Strategic Cooperation" with Beijing CITIC Investment Management Center (Limited Partnership) (hereinafter referred to as Beijing CITIC) on March 25, 2019.MetagamescryptoYour company's holding subsidiary Shandong Huaan New Materials Co., Ltd. (hereinafter referred to as Huaan New Materials) to increase capital, the cumulative amount does not exceed 380 million yuan, and then signed the "Capital increase Agreement" on March 29th, 2019.
A reporter from the Daily Business News noted that as of December 31, 2019, Beijing CITIC had actually paid 88.88 million yuan in capital increase according to the agreement and acquired a 9.999% stake in Huaan Xincai. Joint Venture only disclosed the announcement on the signing of the Strategic Cooperation Memorandum on April 9, 2019, and did not disclose the signing of the Strategic Cooperation Memorandum and the subsequent actual capital increase in a timely manner.
Shandong Securities Regulatory Bureau believes that the above-mentioned actions of Lianchuang shares violate the relevant provisions of articles 2, 30, 32 and 33 of the measures for the Administration of Information Disclosure of listed companies (CSRC order No. 40). According to relevant regulations, Li Hongguo, then chairman of the company, Qi Haiying, then president, and Hu Anzhi, then secretary of the board of directors, should bear the main responsibility.
According to Article 59 of the measures for the Administration of Information Disclosure of listed companies (CSRC order No. 40), Shandong Securities Regulatory Bureau decided to take supervision and management measures of issuing warning letters to Lianchuang shares and Li Hongguo, Qi Haiying and Hu Anzhi, which were recorded in the integrity file database of the securities and futures market.
According to the company's financial report, Li Hongguo is the actual controller of Lianchuang shares.
In addition to the "warning letter" from the Shandong Securities Regulatory Bureau, the Shenzhen Stock Exchange also issued a "decision" to Lianchuang shares on the evening of May 20.
The Shenzhen Stock Exchange pointed out in the "decision" that SEC had signed an "Capital increase and share expansion Agreement" with BCIC and agreed on the actual amount of the capital increase when disclosing the signing Memorandum notice. However, the signing of the relevant agreement and the subsequent actual receipt of the capital increase of Beijing CITIC were not fully and timely disclosed until January 24 and January 31, 2024 in the Supplementary announcement and in the reply to this letter of concern.
In view of the facts and circumstances of the above violations, examined and approved by the Disciplinary Committee of the Shenzhen Stock Exchange, the Shenzhen Stock Exchange made the following disciplinary decisions: first, to give notice and criticism to Lianchuang shares; second, the company's then chairman Li Hongguo, the then president Qi Haiying, and the then secretary of the board of directors Hu Anzhi.