What's the matter with Kangmei pharmaceutical's apology? Why does Kangmei pharmaceutical apologize? Many friends don't know. Let's take a look with Xiaobian.
How does Kangmei pharmaceutical apologize
Late at night on May 17, Kangmei Pharmaceutical Co., Ltd. (600518, Kangmei pharmaceutical) issued a suggestive announcement on the implementation of other risk warnings and stock suspension of the company's stock trading. According to relevant regulations, the company's stock applied for one day's suspension on May 20, 2019, will resume trading on May 21, 2019, and will implement other risk warnings and other measures from May 21, 2019 After the risk warning, the daily rise and fall of the stock price is limited to 5%. After the implementation of other risk warning, the company's shares will be traded on the risk warning board.
According to the announcement of Kangmei Pharmaceutical Co., Ltd., according to the annual report and its subsidiary documents disclosed in the earlier stage of the company, and the company's verification, the company has a capital exchange of 8.879 billion yuan with relevant affiliated companies, which are used by relevant affiliated companies to purchase the company's shares. The above behavior touches 13.1.1 of the Listing Rules of Shanghai Stock Exchange The article stipulates that "it is difficult for investors to judge the future of the company and the rights and interests of investors may be damaged". The company applied to Shanghai stock exchange for the implementation of "other risk warning" for the company's shares.
According to the company's self-examination, due to defects in corporate governance and internal control, and major defects in fund management and related party transaction management, Kangmei pharmaceutical has violated the company's daily fund management norms and related party transaction management system. The company to the impact of the above problems, to the majority of investors with the most sincere apology. The company will improve the standard operation level, strictly regulate the relevant management system of capital exchange with related parties, and effectively rectify such matters. The company will urge relevant affiliated companies to solve the problem of capital flow through various channels, eliminate relevant effects and recover losses. The board of directors of the company will continue to pay attention to the progress of the above matters and fulfill the obligation of information disclosure in a timely manner.
Earlier in the day, China Securities Regulatory Commission spokesman Chang depeng reported the progress of the Kangmei case at a regular press conference.
Kangmei pharmaceutical's financial report is suspected of false statement and other illegal activities
Chang depeng said that at the end of 2018, the CSRC daily supervision found that the authenticity of Kangmei Pharmaceutical (600518) financial report was in doubt, and it was suspected of false statements and other illegal activities. The SFC immediately put the case on file for investigation. On December 29, 2018, Kangmei pharmaceutical disclosed relevant information.
It has been found that the financial reports disclosed by Kangmei pharmaceutical from 2016 to 2018 are subject to major fraud and are suspected of violating the relevant provisions of the securities law. The first is to increase deposits by using false bank documents; the second is to falsify income by forging business vouchers; the third is to transfer part of the funds to related party accounts to buy and sell the company's shares. Recently, China Securities Regulatory Commission (CSRC) has filed a case against Zhengzhong Zhujiang accounting firm, the company's auditing body, for its alleged failure to perform its duties diligently.
On the evening of April 29, Kangmei pharmaceutical released an announcement to correct the previous accounting errors, saying that the company had restated the financial statements of 2017 through self inspection, involving a number of statement subjects.
Among them, monetary capital, operating income and operating cost were reduced by 29.944 billion yuan, 8.898 billion yuan and 7.662 billion yuan respectively, and inventory, other receivables, accounts receivable and construction in progress were increased by 19.546 billion yuan, 5.714 billion yuan, 641 million yuan and 632 million yuan respectively. At the same time, according to the special explanation of Kangmei pharmaceutical's non operating capital occupation and other related capital transactions issued by the annual audit accountant, at the end of the reporting period, the balance of other receivables of the company included the balance of funds provided to related parties through self inspection of 8.879 billion yuan, but the annual audit accountant said that it was unable to obtain sufficient and appropriate audit evidence, resulting in the uncertainty of the accuracy and accuracy of the relevant amount Recoverability of funds.