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Fully implement "strong supervision"AndromedacasinonodepositbonusAnother listed securities firm has been punished!
On the evening of April 12, Huaxi Securities announced that it had received a prior notice from the Jiangsu Securities Regulatory Bureau that it planned to suspend its sponsor business qualification for six months.
In terms of specific matters, Huaxi Securities is suspected of violating regulations in the practice of Jin Tongling's non-public stock offering sponsor program in 2019, including due diligence, false records of issuing stock listing recommendations to specific targets, and so on.
Violation of the gold-related psychic project
Huaxi Securities sponsor business will be suspended
First of all, let's take a look at the violations of Huaxi Securities.
Jiangsu Securities Regulatory Bureau pointed out that the West China Securities Division is suspected of having committed the following violations in the practice of Jin Tongling's non-public stock offering sponsor project in 2019: due diligence is suspected of not being diligent and dutiful, and there are false records in issuing stock listing recommendations to specific targets; the relevant reports issued during the continuous supervision phase are suspected of being falsely recorded; and the on-site inspection work of continuous supervision is suspected of not being carried out properly.
It is understood that Jin Tongling announced a non-public stock offering plan at the end of 2019, which intends to raise no more than 800 million yuan to supplement working capital and repay bank loans.
In July 2020, Jin Tongling announced that due to the needs of the non-public offering, the company hired Huaxi Securities as the sponsor of the non-public offering in 2019, and signed a relevant recommendation and underwriting agreement with Huaxi Securities. The project was launched in February 2021. Since then, the two insurance agents in charge of the project have left due to job changes, and other sponsor representatives appointed by Huaxi Securities are responsible for continuous supervision.
In April 2023, Jin Tongling announced that in the process of preparing the financial statements in 2022, due to the excessive amount of performance pre-loss, the company's financial situation was self-examined and found that there were major errors and retroactive adjustments. After retroactive adjustment, Jin Tongling reduced the undistributed profit at the beginning of 2021 by 4%.AndromedacasinonodepositbonusThe net profit in 2021 was adjusted from 19.863 million yuan to-48.0457 million yuan.
In June 2023, Jin Tongling was placed on file for investigation by the Securities Regulatory Commission. In January this year, the administrative penalty from Jiangsu Securities Supervision Bureau officially landed. According to the investigation, Jin Tongling falsely increased or decreased profits for six consecutive years from 2017 to 2022, accounting for 103.06%, 133.10%, 31.35%, 101.55%, 5774.38% and 11.83% of the company's total disclosed profits (absolute value), respectively, resulting in false records in the company's annual reports for the corresponding years.
In the end, Jin Tongling was ordered to correct, given a warning and imposed a fine of 1.5 million yuan. Several "Dong Jiangao" at that time were also given a warning and a fine.
After the listed company is punished, the intermediary agency can not escape the responsibility. This time, Jiangsu Securities Regulatory Bureau plans to take the regulatory measure of sponsorship business qualification for 6 months for Huaxi Securities. At the same time, the two sponsor representatives in charge of the Jin Tongling project have been determined to be inappropriate candidates, and shall not hold relevant duties or actually perform the above-mentioned duties in the securities issuance and listing recommendation business of securities companies within two years; two continuous supervision sponsor representatives have been taken supervision and management measures of issuing warning letters.
Huaxi Securities: deeply sorry
Will learn a profound lesson.
For this six-month suspension of sponsor business, Huaxi Securities said that it will learn lessons, seriously reflect, strengthen management, improve and improve the internal control mechanism of investment banking business, and continue to improve the quality of investment banking business.
Huaxi Securities said that the company will thoroughly implement the requirements of strict access to issuance and listing, improve the quality of listed companies, and build a first-class investment bank, earnestly fulfill the responsibility of the "gatekeeper" of the capital market, and constantly improve its ability to serve the real economy.
In retrospect, in December 2022, the CSRC organized on-site inspection of investment banking internal control and integrity of eight securities companies, among which Huaxi Securities was among them. In September 2023, the CSRC took administrative regulatory measures to order Huaxi Securities to correct, and the then senior executive in charge of investment banking and the then head of the quality control department was issued a warning letter.
After investigation, Huaxi Securities has insufficient independence of internal control, senior executives in charge of quality control department act as sponsor representatives of IPO project and participate in quality control examination and approval, and some opinions of internal control are not answered, not implemented or modified and submitted to the outside without the core.
Huaxi Securities said that since the special on-site inspection, the company has faced squarely the problems of inspection feedback, combed investment banking projects, set up bank reform, and strictly grasped the rectification and reform work, mainly including:
First, we should be seriously accountable and be held accountable. The relevant personnel, related business, quality control and core departments have been held accountable, and the internal accountability system has been improved to further strengthen accountability.
The second is to improve the position and strengthen the consciousness. The company has repeatedly organized personnel at all levels to carry out thematic learning and training to enhance risk awareness and professional ability.
The third is to improve the division of labor and the mechanism. Establish an organizational management system that meets regulatory requirements and meet the needs of market competition and business development, and continuously improve all aspects of business processes and systems.
The fourth is to optimize the team and improve the ability. Pay more attention to the professional quality and management concept of the contingent of cadres, adjust the heads of relevant business, quality control and core departments, remove a number of business personnel whose professional abilities are not up to standard, and consolidate the manpower foundation of quality control.
As for the impact of suspending the sponsor business, Huaxi Securities said that according to preliminary statistics, the company's business income related to the qualification of the sponsor business in 2023 was about 35 million yuan. There is uncertainty about the impact of the incident on the company's operations in 2024 and beyond, and the company apologizes for the trouble it has caused to investors and all sectors of the community.
In addition, Huaxi Securities announced in March that Huang Ming, the company's deputy general manager, had applied to resign for personal reasons and would no longer hold any position in the company after his resignation.
As of April 12, the share price of Huaxi Securities was 7.09 yuan per share, down 1.95 percent on the day, with a total market capitalization of 18.6 billion yuan.
近期，监管持续传出全面从严信号。证监会主席吴清在接受媒体采访时表示，将构建全方位、立体化的资本市场监管体系，全面落实监管“长牙带刺”、有棱有角。机构监管要推动回归本源，做优做强，进一步压实“看门人”责任，引导证券期货基金等各类行业机构端正经营理念，提升合规水平、专业服务能力和核心竞争力。
同在4月12日晚间，中信证券、海通证券两家头部券商均发布公告称，收到证监会立案告知书。从事由上看，两家公司均系在相关主体违反限制性规定转让中核钛白2023年非公开发行股票过程中涉嫌违法违规。