Many stockholders want to know who will bear their losses and from whom they should claim.
In 2021, just in the past 2 months, there are 5 companies in A-shares suspected of illegal information disclosure, financial information fraud, etc. were filed for investigation, and the 5 listed companies involved a total of more than 280,000 shareholders. In addition to angrily calling them liars, many shareholders want to know who will bear their losses and from whom they should claim compensation.
CNA reported on Feb. 27 that China’s securities regulators continue to be strict, and in addition to various letters and disciplinary punishments, there is even a direct move by the Securities Regulatory Commission. As of the last trading day of February (February 26), just 2 months into the year, A shares have *ST Yonglin, *ST New Billion, Guangzhou Longqi, Beijing Culture, Tianhai Defense 5 listed companies were investigated by the Securities Regulatory Commission, a total of more than 280,000 shareholders.
According to Wind statistics, as of now, the number of shareholders of *ST Yonglin, *ST New Billion, Guangzhou Longqi, Beijing Culture, Tianhai Defense are 13902, 24763, 36720, 86921, 119,028, a total of 281,334.
After the market on February 22, *ST Yonglin (formerly Yongan Forestry) issued an announcement that the company received a Notice of Investigation from the China Securities Regulatory Commission (CSRC), which decided to open a case against the company for alleged information disclosure irregularities.
*ST Yonglin is an old listed company and has been listed for nearly 30 years.
Fined at the beginning of the year was Beijing Culture, the producer of films such as “Wandering Earth” and “Me and My Hometown”.
In the evening of January 3, 2021, Beijing Culture issued an announcement that the company received a Notice of Investigation on December 31, 2020, in which the SFC decided to open a case against the company for alleged information disclosure violations.
On the same day, Beijing Culture said in another announcement that the company received a warning letter from the Beijing Securities Regulatory Bureau for inaccurate disclosure of financial information and deficiencies in the design level of internal controls.
The Beijing Securities Regulatory Bureau pointed out that Beijing Culture’s 2018 annual report financial information disclosure was inaccurate, overstating operating revenue by about 460 million yuan and net profit by about 191 million yuan; there were deficiencies at the level of internal control design and implementation, and there were significant problems in the management of subsidiaries, control of prepayments and investment payments, and project management.
Since January 4, Beijing Culture has been down for several days.
On January 25, Tianhai Defense issued an announcement that it was investigated by the SFC for allegedly violating the laws and regulations related to securities and futures.
On January 26, Tianhai Defense closed down 14.67% at RMB 5.12, a record high of RMB 12.90 set in September 2020, and its total market value fell below RMB 10 billion.
Tianhai Defense is the first A-share listed company in the marine technology category.
The same for “suspected information disclosure violations” and the SEC filed a case for investigation, there are *ST new billion, laundry detergent “run” of Guangzhou Longqi.
China Fund News reported on February 20 that the major shareholder of *ST New Billion was suspected of infringing on the interests of the listed company, and the company was completely hollowed out. At present, the company has almost no staff, no actual business, the reorganization has not been ruled by the court to complete, the main rent collection property is also required to demolish the deadline.
Many times exposed to the laundry detergent “run” of Guangzhou Longqi, in September 27 last year, said that 572 million yuan of inventory stored in the Rui Li warehouse, Hui Feng warehouse “disappeared”. With the company’s comprehensive verification, the value of the missing inventory is getting higher and higher. On the evening of December 25 last year, the company said it had evidence that the amount of inventory in the third-party warehouses that did not match the accounts of the trading business and other goods issued that did not match the accounts had accumulated to 898 million yuan.
Many investors cried about being pitted by these fraudulent companies, “garbage companies, specializing in cheating shareholders’ money”, “finished being pitted by this company”, “I’m trapped, it’s hard to ride the tiger”.
More people hope that their losses can be compensated, “claim, I hope to compensate my losses!”
Some lawyers said that according to the law and judicial interpretation, investors of the above stocks can initiate a claim for the stock transactions during the relevant Time period.
However, some netizens said, why are there so many A-share fraudulent companies? Want to claim I’m afraid it’s just wishful thinking, “Who will compensate you for the silver?”