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Original title: Zhaoxin’s 2019 Annual Report is problematic. Shenzhen Securities Regulatory Office requires company to recompile Source: Shanghai Securities News
SSE China Securities News (Reporter Shi Na) Due to Zhaoxin’s annual report revealing alleged violations of relevant provisions of the Securities Law and other issues, on April 26, the Shenzhen Securities Regulatory Bureau took corrective action against him , requesting you to reissue the 2019 annual report, and the audit agency will re-audit the newly audited 2019 financial report.
On April 24, 2020, Zhaoxin released its 2019 annual report. Zhongqin Wanxin Certified Public Accountants (Special General Conference) issued an audit report and an internal control assurance report with negative opinions. None of the company’s top executives can guarantee the truth, accuracy, and integrity of the company’s 2019 annual report.
The Shenzhen Securities Regulatory Office said Zhaoxin’s actions encountered the following three main problems in supervision:
First, the company agreed to publish the 2019 annual report, but neither the directors nor the supervisors guarantee that the content of the annual report is true, accurate and complete, and there is a clear inconsistency between the two previous opinions. In fact, the company’s board of directors and board of supervisors only form a resolution on whether to disclose the company’s 2019 annual report, but they did not consider or approve the company’s 2019 annual report, which violates the provisions of Article 78 and Article 79 of the Securities Law.
Second, the company’s directors, supervisors, and senior management personnel must verify the objections raised clearly and accurately reflect in the company’s annual report for 2019. The accounting firm’s audit opinion and the inability to Reviewing the annual report cannot be used as a company guarantee for 2019. Reasons for the true, accurate and complete annual report.
Third, the statement by company legal representative Yang Qinhu and CFO Su Zheng violated the CSRC “company director”, the person in charge of accounting work, and the person in charge of the accounting institution (accountant) must declare and guarantee the financial report in the annual report. Truth, precision and integrity. “
The Shenzhen Securities Regulatory Office noted that the company’s previous actions and related personnel violated the relevant provisions of the Securities Law and Administrative Measures for Disclosure of Information of Listed Companies, challenging the seriousness of the disclosure system of capital market information and the impact on the market. In accordance with the relevant regulations, the Shenzhen Securities Regulatory Office ordered Zhaoxin to make corrections in two ways:
First, effective steps were taken to rectify and correct the issues that led to the negative opinion of the accounting firm, the 2019 annual report was re-prepared, and the audit agency re-audited the reorganized 2019 annual financial report. The company’s board of directors and board of supervisors will review the rewriting of the 2019 annual report and release the 2019 annual report approved by the board of directors and the board of supervisors in accordance with the law by April 30, 2020.
Second, current directors, supervisors, and senior management should focus on maintaining the overall stability of the company’s production and operations, based on protecting the interests of listed companies and all investors, strictly in accordance with the requirements of the “Companies Law” and the “Securities Law”, faithful and diligent. Perform legal tasks locally and effectively maintain the stability of the company’s normal production and operation.
