Guangdong Rongtai claim: investigated by the China Securities Regulatory Commission, investors can prepare claims

Home / Interpretation / Details Suspected information disclosure violation of Guangdong Rongtai was filed for investigation Kang Yin · 2020-05-2121: 28 Source: Securities Times · E company Guangdong Rongtai (600589) announced on the evening of May 21, the company received the Securities Regulatory Commission The notice of investigation will be decided to investigate the company for suspected information disclosure violations. It is worth noting that this investigation announcement is a corrected version. Earlier on the same day, Guangdong Rongtai disclosed the investigation announcement, the original content stated: “Because the company did not disclose the regular report on time, it is suspected that the information disclosure is illegal. According to the relevant provisions of the” Securities Law of the People’s Republic of China “, China Securities Regulatory The management committee decided to investigate the company. “In the corrected announcement, the expression” the company did not disclose the periodic report on time “was deleted. In fact, the current annual report and the first quarter of Guangdong Rongtai are indeed “difficult to deliver.” Earlier, Guangdong Rongtai issued an announcement saying that because the accounting firm could not provide the 2019 audit report on time, the authenticity, accuracy and completeness of some of the information involved in the periodic report could not be identified and verified in a short time, and the company could not be disclosed on time. Annual report for 2019 and first quarter report for 2020. The company’s shares will be suspended from April 30. According to the regulations of the Shanghai Stock Exchange, if Guangdong Rongtai is unable to disclose its annual report on time and is suspended from trading, and it still cannot disclose its 2019 annual report within two months, the company’s stocks should be re-listed and a delisting risk warning will be implemented. Two months after the delisting warning is implemented, if the annual report of 2019 is still not disclosed, the company’s stock will be suspended and may be suspended from listing. Guangdong Rongtai said that the company’s board of directors will urge to complete the preparation of periodic reports, and disclose the company’s 2019 annual report and the first quarter of 2020 as early as possible before June 30, 2020. But it does not rule out the possibility that the final arrangement cannot be implemented, resulting in the company’s stocks being subject to delisting risk warnings, suspension of listing or termination of listing. The current annual auditing agency of Guangdong Rongtai is Dahua Certified Public Accountants. In December last year, the board of directors of Guangdong Rongtai reviewed and approved the “Proposal on Changing Accountants’ Affairs”, reorganizing the company’s audit agency from Guangdong Zhongzhong Zhujiang Certified Public Accountants to Dahua Institute, and Dahua Institute as the company’s 2019 annual audit agency. Regarding the reasons for the re-appointment, Guangdong Rongtai stated that in view of the fact that Zhengzhong Pearl River has provided audit services to the company for many years, in order to ensure the independence, objectivity and fairness of the company’s audit work, it was decided to terminate the 2019 audit appointment after friendly consultation with Zhengzhong Pearl River . Comprehensively considering the company’s future business development and auditing needs, as proposed by the Audit Committee of the Board of Directors, it is proposed to hire the company’s 2019 annual financial report and internal control audit agency, and submits to the general meeting of shareholders to authorize the company’s management to manage the company’s actual business and market Wait for consultation with the audit agency to determine the audit fee. After Guangdong Rongtai was unable to disclose its annual report and quarterly report on time, the Guangdong Securities Regulatory Bureau has sent a letter to the company to order rectification. The Securities Regulatory Bureau pointed out that as of April 30, 2020, Guangdong Rongtai did not disclose the 2019 annual report and the first quarter report of 2020 within the statutory period, which violated Article 79 of the Securities Law of the People ’s Republic of China and “Listing According to the relevant provisions of Articles 2 and 20 of the Measures for the Administration of Company Information Disclosure, the Guangdong Securities Regulatory Bureau decided to take administrative supervision measures against the company to order corrections. Guangdong Rongtai is a high-tech enterprise with large production scale and advanced technology of amino plastic materials at home and abroad. It mainly deals in amino composite materials and their products, formaldehyde, phthalic anhydride and plasticizers and other chemical materials. According to the third quarterly report of 2019, the operating income of Guangdong Rongtai in the first three quarters of last year was 1.036 billion yuan, a year-on-year decrease of 11.87%, and the net profit was 314 million yuan, an increase of 152.23% year-on-year. Guangdong Rongtai, violation of laws and regulations, securities, delisting warning responsibility editor: Zhao Liyun company statement: The article mentions individual stocks and content are for reference only and do not constitute investment advice. Investors operate accordingly, at their own risk.